POINTHO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
POINTHO
Largest movements
- Stocks and contracts -€350,119
no longer reported in 2026 (was €350,119)
- Tangible fixed assets -€328,144
down €328,144 (-98.4%), from €333,493 to €5,349
of which Land and buildings: -€241,811
- Receivables within one year +€80,485
up €80,485 (+334%), from €24,085 to €104,570
of which Trade receivables: +€55,222
- Cash +€74,620
up €74,620 (+222%), from €33,561 to €108,180
mainly Stocks and contracts (+€350,119) and Investment in fixed assets (net) (+€327,072)
- Deferred charges and accrued income -€10,917
down €10,917 (-96.4%), from €11,323 to €406
- Profit (loss) carried forward -€379,050
down €379,050 (-122%), from -€310,159 to -€689,210
- Trade debts -€81,638
down €81,638 (-97.5%), from €83,693 to €2,055
- Other debts -€59,337
down €59,337 (-9.1%), from €649,836 to €590,499
- Tax, wage and social debts -€23,590
down €23,590 (-96.6%), from €24,408 to €818
of which Remuneration and social security: -€22,016
- Write-downs +€127,650
new in 2026: €127,650
- Staff costs -€95,626
down €95,626 (-56.7%), from €168,679 to €73,052
- Gross operating margin +€82,190
up €82,190 (+98.1%), from €83,791 to €165,981
- Depreciation -€60,695
down €60,695 (-85.1%), from €71,306 to €10,611
- Other operating charges +€15,906
up €15,906 (+848%), from €1,875 to €17,780
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €847,777 | €304,163 | -€543,614 | -64.1% |
| Formation expenses | 20 | €2,552 | €2,552 | = | 0.0% |
| Fixed assets | 21/28 | €426,138 | €88,455 | -€337,683 | -79.2% |
| Tangible fixed assets | 22/27 | €333,493 | €5,349 | -€328,144 | -98.4% |
| Land and buildings | 22 | €241,811 | - | -€241,811 | |
| Furniture and vehicles | 24 | €34,214 | €5,349 | -€28,865 | -84.4% |
| Leasing and similar rights | 25 | €57,469 | - | -€57,469 | |
| Financial fixed assets | 28 | €92,644 | €83,106 | -€9,539 | -10.3% |
| Current assets | 29/58 | €419,087 | €213,156 | -€205,931 | -49.1% |
| Stocks and contracts in progress | 3 | €350,119 | - | -€350,119 | |
| Stocks | 30/36 | €350,119 | - | -€350,119 | |
| Amounts receivable within one year | 40/41 | €24,085 | €104,570 | +€80,485 | +334% |
| Trade receivables | 40 | €24,085 | €79,306 | +€55,222 | +229% |
| Other amounts receivable | 41 | - | €25,263 | +€25,263 | |
| Cash at bank and in hand | 54/58 | €33,561 | €108,180 | +€74,620 | +222% |
| Deferred charges and accrued income | 490/1 | €11,323 | €406 | -€10,917 | -96.4% |
| Total equity and liabilities | 10/49 | €847,777 | €304,163 | -€543,614 | -64.1% |
| Equity | 10/15 | €89,841 | -€289,210 | -€379,050 | |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | - | €400,000 | +€400,000 | |
| Issued capital | 100 | - | €400,000 | +€400,000 | |
| Profit (loss) carried forward | 14 | -€310,159 | -€689,210 | -€379,050 | -122% |
| Amounts payable | 17/49 | €757,936 | €593,372 | -€164,564 | -21.7% |
| Amounts payable within one year | 42/48 | €757,936 | €593,372 | -€164,564 | -21.7% |
| Trade debts | 44 | €83,693 | €2,055 | -€81,638 | -97.5% |
| Suppliers | 440/4 | €83,693 | €2,055 | -€81,638 | -97.5% |
| Taxes, remuneration and social security | 45 | €24,408 | €818 | -€23,590 | -96.6% |
| Taxes | 450/3 | €2,392 | €818 | -€1,573 | -65.8% |
| Remuneration and social security | 454/9 | €22,016 | - | -€22,016 | |
| Other amounts payable | 47/48 | €649,836 | €590,499 | -€59,337 | -9.1% |
| Remuneration, social security and pensions | 62 | €168,679 | €73,052 | -€95,626 | -56.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,306 | €10,611 | -€60,695 | -85.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €127,650 | +€127,650 | |
| Other operating charges | 640/8 | €1,875 | €17,780 | +€15,906 | +848% |
| Non-recurring operating charges | 66A | €1,819 | €317,533 | +€315,715 | +17,361% |
| Gross operating margin | 9900 | €83,791 | €165,981 | +€82,190 | +98.1% |
| Operating profit (loss) | 9901 | -€159,887 | -€380,647 | -€220,760 | -138% |
| Financial income | 75/76B | €13,139 | €4,581 | -€8,558 | -65.1% |
| Recurring financial income | 75 | €13,139 | €4,581 | -€8,558 | -65.1% |
| Financial charges | 65/66B | €3,899 | €2,397 | -€1,502 | -38.5% |
| Recurring financial charges | 65 | €3,899 | €2,397 | -€1,502 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | -€150,647 | -€378,463 | -€227,816 | -151% |
| Income taxes | 67/77 | €623 | €588 | -€35 | -5.7% |
| Profit (loss) for the period | 9904 | -€151,270 | -€379,050 | -€227,781 | -151% |
| Profit (loss) for the period to be appropriated | 9905 | -€151,270 | -€379,050 | -€227,781 | -151% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.