RED SEA CAT: 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.
RED SEA CAT
Largest movements
- Receivables after one year -€150,000
down €150,000 (-45.2%), from €331,498 to €181,498
- Cash -€122,155
down €122,155 (-92.0%), from €132,801 to €10,646
mainly Short-term financial debts (-€270,000) and Net result for the year (-€2,330)
- Short-term financial debts -€270,000
down €270,000 (-43.8%), from €616,600 to €346,600
- Gross operating margin +€1,743
up €1,743 (+53.7%), from -€3,243 to -€1,500
- Financial income -€176
down €176 (-26.1%), from €675 to €499
- Other operating charges +€35
up €35 (+3.1%), from €1,108 to €1,143
- Financial charges -€34
down €34 (-15.6%), from €220 to €186
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 | €464,299 | €192,144 | -€272,155 | -58.6% |
| Current assets | 29/58 | €464,299 | €192,144 | -€272,155 | -58.6% |
| Amounts receivable after more than one year | 29 | €331,498 | €181,498 | -€150,000 | -45.2% |
| Other amounts receivable | 291 | €331,498 | €181,498 | -€150,000 | -45.2% |
| Cash at bank and in hand | 54/58 | €132,801 | €10,646 | -€122,155 | -92.0% |
| Total equity and liabilities | 10/49 | €464,299 | €192,144 | -€272,155 | -58.6% |
| Equity | 10/15 | -€154,388 | -€156,717 | -€2,330 | -1.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€215,888 | -€218,217 | -€2,330 | -1.1% |
| Amounts payable | 17/49 | €618,687 | €348,862 | -€269,825 | -43.6% |
| Amounts payable within one year | 42/48 | €618,687 | €348,862 | -€269,825 | -43.6% |
| Financial debts | 43 | €616,600 | €346,600 | -€270,000 | -43.8% |
| Other loans | 439 | €616,600 | €346,600 | -€270,000 | -43.8% |
| Trade debts | 44 | €1,137 | €1,312 | +€175 | +15.4% |
| Suppliers | 440/4 | €1,137 | €1,312 | +€175 | +15.4% |
| Other amounts payable | 47/48 | €949 | €949 | = | 0.0% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | -€3,243 | -€1,500 | +€1,743 | +53.7% |
| Operating profit (loss) | 9901 | -€4,351 | -€2,643 | +€1,708 | +39.3% |
| Financial income | 75/76B | €675 | €499 | -€176 | -26.1% |
| Recurring financial income | 75 | €675 | €499 | -€176 | -26.1% |
| Financial charges | 65/66B | €220 | €186 | -€34 | -15.6% |
| Recurring financial charges | 65 | €220 | €186 | -€34 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | -€3,896 | -€2,330 | +€1,567 | +40.2% |
| Profit (loss) for the period | 9904 | -€3,896 | -€2,330 | +€1,567 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,896 | -€2,330 | +€1,567 | +40.2% |
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 30 October 2026 via checked.be.