RED TAIL: 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.
What changed
RED TAIL
NACE 96.999, Other personal services
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€29,012
2025 · €61,528-€32,516
Equity
€40,512
2025 · €11,500+€29,012
Cash
€13,961
2025 · €17,397-€3,435
Balance sheet total
€396,063
2025 · €412,890-€16,827
Largest movements
Assets
- Tangible fixed assets -€18,933
down €18,933 (-5.4%), from €349,035 to €330,102
of which Land and buildings: -€17,184
Equity and liabilities
- Other debts -€30,360
down €30,360 (-29.5%), from €102,774 to €72,413
- Reserves +€28,750
up €28,750 (+319.4%), from €9,000 to €37,750
- Debts after one year -€17,374
down €17,374 (-6.5%), from €268,351 to €250,977
Income statement
- Gross operating margin -€38,467
down €38,467 (-33.7%), from €114,279 to €75,812
- Taxes -€4,589
down €4,589 (-27.8%), from €16,529 to €11,940
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.
Result 2025
€61,528
Gross operating margin
-€38,467
Depreciation
+€253
Other operating charges
+€216
Financial income
+€0
Financial charges
+€894
Taxes
+€4,589
Result 2026
€29,012
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.
From operations
+€15,243
Investment
-€2,026
Financing
-€16,652
Cash 2025
€17,397
From operations (derived)
+€15,243
Net result for the year
+€29,012
Depreciation
+€20,959
Receivables within one year
-€3,745
Deferred charges and accrued income
-€1,796
Trade debts
+€2,906
Tax, wage and social debts
-€1,732
Other debts
-€30,360
Accrued charges and deferred income
-€0
Investment (derived)
-€2,026
Investment in fixed assets (net)
-€2,026
Financing
-€16,652
Debts after one year
-€17,374
Current portion of long-term debt
+€721
Cash 2026
€13,961
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €412,890 | €396,063 | -€16,827 | -4.1% |
| Fixed assets | 21/28 | €349,035 | €330,102 | -€18,933 | -5.4% |
| Tangible fixed assets | 22/27 | €349,035 | €330,102 | -€18,933 | -5.4% |
| Land and buildings | 22 | €338,140 | €320,957 | -€17,184 | -5.1% |
| Plant, machinery and equipment | 23 | €1,017 | €757 | -€261 | -25.6% |
| Furniture and vehicles | 24 | €7,337 | €6,208 | -€1,129 | -15.4% |
| Other tangible fixed assets | 26 | €2,540 | €2,181 | -€360 | -14.2% |
| Current assets | 29/58 | €63,855 | €65,961 | +€2,106 | +3.3% |
| Amounts receivable within one year | 40/41 | €43,842 | €47,587 | +€3,745 | +8.5% |
| Trade receivables | 40 | €43,121 | €38,599 | -€4,522 | -10.5% |
| Other amounts receivable | 41 | €722 | €8,988 | +€8,267 | +1145.1% |
| Cash at bank and in hand | 54/58 | €17,397 | €13,961 | -€3,435 | -19.7% |
| Deferred charges and accrued income | 490/1 | €2,616 | €4,412 | +€1,796 | +68.7% |
| Total equity and liabilities | 10/49 | €412,890 | €396,063 | -€16,827 | -4.1% |
| Equity | 10/15 | €11,500 | €40,512 | +€29,012 | +252.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €9,000 | €37,750 | +€28,750 | +319.4% |
| Distributable reserves | 133 | €9,000 | €37,750 | +€28,750 | +319.4% |
| Profit (loss) carried forward | 14 | €0 | €262 | +€262 | |
| Amounts payable | 17/49 | €401,390 | €355,551 | -€45,839 | -11.4% |
| Amounts payable after more than one year | 17 | €268,351 | €250,977 | -€17,374 | -6.5% |
| Financial debts | 170/4 | €268,351 | €250,977 | -€17,374 | -6.5% |
| Amounts payable within one year | 42/48 | €132,729 | €104,264 | -€28,465 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €16,652 | €17,374 | +€721 | +4.3% |
| Trade debts | 44 | €2,097 | €5,003 | +€2,906 | +138.6% |
| Suppliers | 440/4 | €2,097 | €5,003 | +€2,906 | +138.6% |
| Taxes, remuneration and social security | 45 | €11,206 | €9,474 | -€1,732 | -15.5% |
| Taxes | 450/3 | €11,206 | €9,474 | -€1,732 | -15.5% |
| Other amounts payable | 47/48 | €102,774 | €72,413 | -€30,360 | -29.5% |
| Accrued charges and deferred income | 492/3 | €310 | €310 | -€0 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,212 | €20,959 | -€253 | -1.2% |
| Other operating charges | 640/8 | €1,715 | €1,499 | -€216 | -12.6% |
| Gross operating margin | 9900 | €114,279 | €75,812 | -€38,467 | -33.7% |
| Operating profit (loss) | 9901 | €91,352 | €53,354 | -€37,998 | -41.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €13,295 | €12,402 | -€894 | -6.7% |
| Recurring financial charges | 65 | €13,295 | €12,402 | -€894 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €78,057 | €40,953 | -€37,104 | -47.5% |
| Income taxes | 67/77 | €16,529 | €11,940 | -€4,589 | -27.8% |
| Profit (loss) for the period | 9904 | €61,528 | €29,012 | -€32,516 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €61,528 | €29,012 | -€32,516 | -52.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.