Project: what changed
Two fiscal 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.
Project
Largest movements
- Receivables within one year +€67,549
up €67,549 (+44.9%), from €150,535 to €218,084
of which Trade receivables: +€62,138
- Cash +€21,083
up €21,083 (+311.9%), from €6,759 to €27,842
mainly Net result for the year (+€107,805) and Tax, wage and social debts (+€43,970)
- Tangible fixed assets -€13,560
down €13,560 (-23.7%), from €57,120 to €43,560
of which Plant, machinery and equipment: -€7,429
- Reserves +€107,805
up €107,805 (+206.8%), from €52,137 to €159,942
- Trade debts -€76,181
down €76,181 (-52.9%), from €144,048 to €67,867
- Tax, wage and social debts +€43,970
up €43,970 (+662.7%), from €6,635 to €50,605
of which Taxes: +€38,313
- Gross operating margin +€205,839
up €205,839 (+236.7%), from €86,969 to €292,808
- Staff costs +€63,784
up €63,784 (+107.2%), from €59,509 to €123,293
- Taxes +€39,513
up €39,513 (+1271.9%), from €3,107 to €42,620
- Financial income +€4,085
up €4,085 (+221.5%), from €1,844 to €5,929
- Depreciation +€3,298
up €3,298 (+22.4%), from €14,724 to €18,022
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.
Cash bridge derived
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 | €215,810 | €291,264 | +€75,454 | +35.0% |
| Fixed assets | 21/28 | €57,120 | €43,560 | -€13,560 | -23.7% |
| Tangible fixed assets | 22/27 | €57,120 | €43,560 | -€13,560 | -23.7% |
| Plant, machinery and equipment | 23 | €21,385 | €13,956 | -€7,429 | -34.7% |
| Furniture and vehicles | 24 | €35,735 | €29,604 | -€6,131 | -17.2% |
| Current assets | 29/58 | €158,690 | €247,704 | +€89,014 | +56.1% |
| Amounts receivable within one year | 40/41 | €150,535 | €218,084 | +€67,549 | +44.9% |
| Trade receivables | 40 | €53,934 | €116,072 | +€62,138 | +115.2% |
| Other amounts receivable | 41 | €96,601 | €102,012 | +€5,411 | +5.6% |
| Cash at bank and in hand | 54/58 | €6,759 | €27,842 | +€21,083 | +311.9% |
| Deferred charges and accrued income | 490/1 | €1,396 | €1,778 | +€382 | +27.4% |
| Total equity and liabilities | 10/49 | €215,810 | €291,264 | +€75,454 | +35.0% |
| Equity | 10/15 | €54,137 | €161,942 | +€107,805 | +199.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €52,137 | €159,942 | +€107,805 | +206.8% |
| Distributable reserves | 133 | €52,137 | €159,942 | +€107,805 | +206.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €161,672 | €129,322 | -€32,351 | -20.0% |
| Amounts payable within one year | 42/48 | €161,672 | €129,322 | -€32,351 | -20.0% |
| Financial debts | 43 | €4,582 | €6,930 | +€2,348 | +51.2% |
| Credit institutions | 430/8 | €4,582 | €6,930 | +€2,348 | +51.2% |
| Trade debts | 44 | €144,048 | €67,867 | -€76,181 | -52.9% |
| Suppliers | 440/4 | €144,048 | €67,867 | -€76,181 | -52.9% |
| Taxes, remuneration and social security | 45 | €6,635 | €50,605 | +€43,970 | +662.7% |
| Taxes | 450/3 | €4,413 | €42,726 | +€38,313 | +868.3% |
| Remuneration and social security | 454/9 | €2,223 | €7,879 | +€5,657 | +254.5% |
| Other amounts payable | 47/48 | €6,407 | €3,919 | -€2,488 | -38.8% |
| Non-recurring operating income | 76A | €400 | €0 | -€400 | -100.0% |
| Remuneration, social security and pensions | 62 | €59,509 | €123,293 | +€63,784 | +107.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,724 | €18,022 | +€3,298 | +22.4% |
| Other operating charges | 640/8 | €3,617 | €6,332 | +€2,716 | +75.1% |
| Gross operating margin | 9900 | €86,969 | €292,808 | +€205,839 | +236.7% |
| Operating profit (loss) | 9901 | €9,120 | €145,161 | +€136,041 | +1491.7% |
| Financial income | 75/76B | €1,844 | €5,929 | +€4,085 | +221.5% |
| Recurring financial income | 75 | €1,844 | €5,929 | +€4,085 | +221.5% |
| Financial charges | 65/66B | €720 | €665 | -€55 | -7.7% |
| Recurring financial charges | 65 | €720 | €665 | -€55 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €10,244 | €150,425 | +€140,181 | +1368.5% |
| Income taxes | 67/77 | €3,107 | €42,620 | +€39,513 | +1271.9% |
| Profit (loss) for the period | 9904 | €7,137 | €107,805 | +€100,668 | +1410.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,137 | €107,805 | +€100,668 | +1410.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.