RET: 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.
What changed
RET
NACE 70.200, Business and other management consultancy
financial year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€614,842
2025 · €422,305+€192,537
Equity
€2.3m
2025 · €1.7m+€614,842
Cash
€36,510
2025 · €20,773+€15,738
Balance sheet total
€13.0m
2025 · €13.1m-€99,829
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€600,000
up €600,000 (+59.7%), from €1.0m to €1.6m
- Debts after one year -€540,783
down €540,783 (-7.0%), from €7.7m to €7.1m
- Other debts -€227,000
down €227,000 (-8.1%), from €2.8m to €2.6m
Income statement
- Gross operating margin +€376,874
up €376,874 (+33.3%), from €1.1m to €1.5m
- Depreciation +€104,425
up €104,425 (+28.4%), from €368,285 to €472,710
- Taxes +€81,775
up €81,775 (+49.7%), from €164,484 to €246,259
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
€422,305
Gross operating margin
+€376,874
Staff costs
+€231
Depreciation
-€104,425
Other operating charges
-€11,875
Other operating items
+€3,611
Financial income
-€102
Financial charges
+€9,999
Taxes
-€81,775
Result 2026
€614,842
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
+€890,311
Investment
-€368,765
Financing
-€505,809
Cash 2025
€20,773
From operations (derived)
+€890,311
Net result for the year
+€614,842
Depreciation
+€472,710
Receivables within one year
+€12,337
Smaller working-capital items
+€33
Trade debts
-€7,014
Tax, wage and social debts
+€24,405
Other debts
-€227,000
Investment (derived)
-€368,765
Investment in fixed assets (net)
-€368,765
Financing
-€505,809
Debts after one year
-€540,783
Current portion of long-term debt
+€34,974
Cash 2026
€36,510
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,054,366 | €12,954,537 | -€99,829 | -0.8% |
| Fixed assets | 21/28 | €12,956,961 | €12,853,017 | -€103,945 | -0.8% |
| Tangible fixed assets | 22/27 | €12,956,861 | €12,852,917 | -€103,945 | -0.8% |
| Land and buildings | 22 | €12,956,861 | €12,852,917 | -€103,945 | -0.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €97,405 | €101,521 | +€4,116 | +4.2% |
| Amounts receivable within one year | 40/41 | €65,788 | €53,451 | -€12,337 | -18.8% |
| Trade receivables | 40 | €32,888 | €53,451 | +€20,563 | +62.5% |
| Other amounts receivable | 41 | €32,900 | - | -€32,900 | |
| Cash at bank and in hand | 54/58 | €20,773 | €36,510 | +€15,738 | +75.8% |
| Deferred charges and accrued income | 490/1 | €10,844 | €11,559 | +€715 | +6.6% |
| Total equity and liabilities | 10/49 | €13,054,366 | €12,954,537 | -€99,829 | -0.8% |
| Equity | 10/15 | €1,688,223 | €2,303,065 | +€614,842 | +36.4% |
| Contributions | 10/11 | €680,188 | €680,188 | = | 0.0% |
| Reserves | 13 | €1,005,000 | €1,605,000 | +€600,000 | +59.7% |
| Distributable reserves | 133 | €1,005,000 | €1,605,000 | +€600,000 | +59.7% |
| Profit (loss) carried forward | 14 | €3,036 | €17,877 | +€14,842 | +488.9% |
| Amounts payable | 17/49 | €11,366,143 | €10,651,472 | -€714,670 | -6.3% |
| Amounts payable after more than one year | 17 | €7,675,984 | €7,135,201 | -€540,783 | -7.0% |
| Financial debts | 170/4 | €7,675,984 | €7,135,201 | -€540,783 | -7.0% |
| Amounts payable within one year | 42/48 | €3,674,499 | €3,499,864 | -€174,635 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €805,055 | €840,029 | +€34,974 | +4.3% |
| Trade debts | 44 | €8,265 | €1,251 | -€7,014 | -84.9% |
| Suppliers | 440/4 | €8,265 | €1,251 | -€7,014 | -84.9% |
| Taxes, remuneration and social security | 45 | €74,130 | €98,535 | +€24,405 | +32.9% |
| Taxes | 450/3 | €72,630 | €97,035 | +€24,405 | +33.6% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €2,787,049 | €2,560,049 | -€227,000 | -8.1% |
| Accrued charges and deferred income | 492/3 | €15,659 | €16,408 | +€748 | +4.8% |
| Non-recurring operating income | 76A | - | €2,874 | +€2,874 | |
| Remuneration, social security and pensions | 62 | €231 | - | -€231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €368,285 | €472,710 | +€104,425 | +28.4% |
| Other operating charges | 640/8 | €40,807 | €52,682 | +€11,875 | +29.1% |
| Non-recurring operating charges | 66A | €3,611 | - | -€3,611 | |
| Gross operating margin | 9900 | €1,130,109 | €1,506,983 | +€376,874 | +33.3% |
| Operating profit (loss) | 9901 | €717,176 | €981,591 | +€264,415 | +36.9% |
| Financial income | 75/76B | €102 | - | -€102 | |
| Recurring financial income | 75 | €102 | - | -€102 | |
| Financial charges | 65/66B | €130,490 | €120,490 | -€9,999 | -7.7% |
| Recurring financial charges | 65 | €130,490 | €120,490 | -€9,999 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €586,789 | €861,101 | +€274,312 | +46.7% |
| Income taxes | 67/77 | €164,484 | €246,259 | +€81,775 | +49.7% |
| Profit (loss) for the period | 9904 | €422,305 | €614,842 | +€192,537 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €422,305 | €614,842 | +€192,537 | +45.6% |
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 12 October 2026 via checked.be.