RATIO IMMO: 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.
RATIO IMMO
Largest movements
- Stocks and contracts +€444,843
up €444,843 (+155.9%), from €285,377 to €730,220
- Tangible fixed assets +€343,589
up €343,589 (+65.8%), from €521,853 to €865,442
- Debts after one year +€833,201
up €833,201 (+102.6%), from €812,242 to €1.6m
- Profit (loss) carried forward -€30,386
down €30,386 (-648.3%), from -€4,687 to -€35,073
- Financial charges +€22,219
up €22,219 (+2780.7%), from €799 to €23,018
- Other operating charges +€2,180
up €2,180 (+465.0%), from €469 to €2,649
- Gross operating margin -€1,300
down €1,300 (-38.0%), from -€3,419 to -€4,719
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 | €813,555 | €1,616,419 | +€802,864 | +98.7% |
| Fixed assets | 21/28 | €522,153 | €865,942 | +€343,789 | +65.8% |
| Tangible fixed assets | 22/27 | €521,853 | €865,442 | +€343,589 | +65.8% |
| Assets under construction and advance payments | 27 | €521,853 | €865,442 | +€343,589 | +65.8% |
| Financial fixed assets | 28 | €300 | €500 | +€200 | +66.7% |
| Current assets | 29/58 | €291,402 | €750,477 | +€459,075 | +157.5% |
| Stocks and contracts in progress | 3 | €285,377 | €730,220 | +€444,843 | +155.9% |
| Stocks | 30/36 | €285,377 | €730,220 | +€444,843 | +155.9% |
| Amounts receivable within one year | 40/41 | €1,711 | €4,131 | +€2,420 | +141.4% |
| Trade receivables | 40 | - | €2,552 | +€2,552 | |
| Other amounts receivable | 41 | €1,711 | €1,579 | -€132 | -7.7% |
| Cash at bank and in hand | 54/58 | €2,696 | €14,765 | +€12,069 | +447.7% |
| Deferred charges and accrued income | 490/1 | €1,618 | €1,361 | -€257 | -15.9% |
| Total equity and liabilities | 10/49 | €813,555 | €1,616,419 | +€802,864 | +98.7% |
| Equity | 10/15 | €1,313 | -€29,073 | -€30,386 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,687 | -€35,073 | -€30,386 | -648.3% |
| Amounts payable | 17/49 | €812,242 | €1,645,493 | +€833,250 | +102.6% |
| Amounts payable after more than one year | 17 | €812,242 | €1,645,443 | +€833,201 | +102.6% |
| Financial debts | 170/4 | €812,242 | €1,645,443 | +€833,201 | +102.6% |
| Amounts payable within one year | 42/48 | - | €49 | +€49 | |
| Trade debts | 44 | - | €49 | +€49 | |
| Suppliers | 440/4 | - | €49 | +€49 | |
| Other operating charges | 640/8 | €469 | €2,649 | +€2,180 | +465.0% |
| Gross operating margin | 9900 | -€3,419 | -€4,719 | -€1,300 | -38.0% |
| Operating profit (loss) | 9901 | -€3,888 | -€7,368 | -€3,480 | -89.5% |
| Financial charges | 65/66B | €799 | €23,018 | +€22,219 | +2780.7% |
| Recurring financial charges | 65 | €799 | €23,018 | +€22,219 | +2780.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,687 | -€30,386 | -€25,699 | -548.3% |
| Profit (loss) for the period | 9904 | -€4,687 | -€30,386 | -€25,699 | -548.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,687 | -€30,386 | -€25,699 | -548.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.