PRODUCT'S DESIGN: what changed
PRODUCT'S DESIGN
Largest movements
- Receivables within one year -€18,369
down €18,369 (-17.6%), from €104,238 to €85,869
of which Trade receivables: -€18,378
- Stocks and contracts -€6,615
down €6,615 (-80.7%), from €8,194 to €1,580
- Tangible fixed assets +€2,194
up €2,194 (+18.5%), from €11,840 to €14,034
- Cash +€2,081
up €2,081 (+235%), from €884 to €2,966
mainly Advances received (+€30,000) and Receivables within one year (+€18,369)
- Short-term financial debts -€30,000
down €30,000 (-60.0%), from €50,000 to €20,000
- Advances received +€30,000
new in 2026: €30,000
- Trade debts -€19,471
down €19,471 (-39.1%), from €49,798 to €30,327
- Tax, wage and social debts -€1,444
down €1,444 (-97.1%), from €1,487 to €43
- Gross operating margin +€39,981
up €39,981, from -€28,591 to €11,390
- Financial charges +€3,634
up €3,634 (+333%), from €1,092 to €4,726
- Write-downs +€2,500
new in 2026: €2,500
- Other operating charges -€2,360
down €2,360 (-88.8%), from €2,657 to €296
- Depreciation +€1,391
up €1,391 (+70.9%), from €1,961 to €3,351
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,389 | €104,918 | -€21,470 | -17.0% |
| Fixed assets | 21/28 | €12,066 | €14,260 | +€2,194 | +18.2% |
| Tangible fixed assets | 22/27 | €11,840 | €14,034 | +€2,194 | +18.5% |
| Furniture and vehicles | 24 | €11,840 | €14,034 | +€2,194 | +18.5% |
| Financial fixed assets | 28 | €226 | €226 | = | 0.0% |
| Current assets | 29/58 | €114,323 | €90,659 | -€23,664 | -20.7% |
| Stocks and contracts in progress | 3 | €8,194 | €1,580 | -€6,615 | -80.7% |
| Stocks | 30/36 | €8,194 | €1,580 | -€6,615 | -80.7% |
| Amounts receivable within one year | 40/41 | €104,238 | €85,869 | -€18,369 | -17.6% |
| Trade receivables | 40 | €104,229 | €85,852 | -€18,378 | -17.6% |
| Other amounts receivable | 41 | €9 | €18 | +€9 | +107% |
| Cash at bank and in hand | 54/58 | €884 | €2,966 | +€2,081 | +235% |
| Deferred charges and accrued income | 490/1 | €1,006 | €244 | -€762 | -75.7% |
| Total equity and liabilities | 10/49 | €126,389 | €104,918 | -€21,470 | -17.0% |
| Equity | 10/15 | €23,420 | €23,936 | +€516 | +2.2% |
| Contributions | 10/11 | €23,178 | €23,178 | = | 0.0% |
| Profit (loss) carried forward | 14 | €242 | €758 | +€516 | +213% |
| Amounts payable | 17/49 | €102,969 | €80,982 | -€21,987 | -21.4% |
| Amounts payable within one year | 42/48 | €102,969 | €80,965 | -€22,003 | -21.4% |
| Financial debts | 43 | €50,000 | €20,000 | -€30,000 | -60.0% |
| Other loans | 439 | €50,000 | €20,000 | -€30,000 | -60.0% |
| Trade debts | 44 | €49,798 | €30,327 | -€19,471 | -39.1% |
| Suppliers | 440/4 | €49,798 | €30,327 | -€19,471 | -39.1% |
| Advances received on contracts in progress | 46 | - | €30,000 | +€30,000 | |
| Taxes, remuneration and social security | 45 | €1,487 | €43 | -€1,444 | -97.1% |
| Taxes | 450/3 | €1,487 | €43 | -€1,444 | -97.1% |
| Other amounts payable | 47/48 | €1,683 | €595 | -€1,088 | -64.6% |
| Accrued charges and deferred income | 492/3 | - | €17 | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,961 | €3,351 | +€1,391 | +70.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,500 | +€2,500 | |
| Other operating charges | 640/8 | €2,657 | €296 | -€2,360 | -88.8% |
| Gross operating margin | 9900 | -€28,591 | €11,390 | +€39,981 | |
| Operating profit (loss) | 9901 | -€33,209 | €5,242 | +€38,450 | |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €1,092 | €4,726 | +€3,634 | +333% |
| Recurring financial charges | 65 | €1,092 | €4,726 | +€3,634 | +333% |
| Profit (loss) for the period before taxes | 9903 | -€34,285 | €516 | +€34,802 | |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€34,286 | €516 | +€34,802 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,286 | €516 | +€34,802 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.