Robbe Carron: 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.
Robbe Carron
Largest movements
- Receivables after one year +€20,000
new in 2026: €20,000
- Receivables within one year -€11,229
down €11,229 (-23.7%), from €47,369 to €36,139
of which Trade receivables: -€6,807
- Cash +€5,648
up €5,648 (+79.0%), from €7,152 to €12,800
mainly Net result for the year (+€39,846) and Depreciation (+€31,948)
- Reserves +€39,846
up €39,846 (+35.0%), from €113,848 to €153,694
- Debts after one year -€19,315
down €19,315 (-11.1%), from €173,875 to €154,559
- Current portion of long-term debt -€7,733
down €7,733 (-17.4%), from €44,494 to €36,761
- Gross operating margin +€33,997
up €33,997 (+31.9%), from €106,664 to €140,662
- Staff costs +€7,734
up €7,734 (+22.7%), from €34,043 to €41,777
- Taxes +€7,294
up €7,294 (+90.9%), from €8,024 to €15,317
- Depreciation -€2,958
down €2,958 (-8.5%), from €34,906 to €31,948
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 | €367,560 | €387,384 | +€19,824 | +5.4% |
| Fixed assets | 21/28 | €296,171 | €297,287 | +€1,116 | +0.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €296,171 | €297,287 | +€1,116 | +0.4% |
| Land and buildings | 22 | €263,377 | €243,299 | -€20,078 | -7.6% |
| Plant, machinery and equipment | 23 | €538 | €183 | -€355 | -66.0% |
| Furniture and vehicles | 24 | €3,575 | €33,306 | +€29,731 | +832% |
| Leasing and similar rights | 25 | €28,681 | €20,499 | -€8,182 | -28.5% |
| Current assets | 29/58 | €71,389 | €90,097 | +€18,708 | +26.2% |
| Amounts receivable after more than one year | 29 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 291 | - | €20,000 | +€20,000 | |
| Stocks and contracts in progress | 3 | €13,327 | €14,906 | +€1,579 | +11.8% |
| Stocks | 30/36 | €13,327 | €14,906 | +€1,579 | +11.8% |
| Amounts receivable within one year | 40/41 | €47,369 | €36,139 | -€11,229 | -23.7% |
| Trade receivables | 40 | €35,756 | €28,949 | -€6,807 | -19.0% |
| Other amounts receivable | 41 | €11,613 | €7,190 | -€4,423 | -38.1% |
| Cash at bank and in hand | 54/58 | €7,152 | €12,800 | +€5,648 | +79.0% |
| Deferred charges and accrued income | 490/1 | €3,542 | €6,252 | +€2,710 | +76.5% |
| Total equity and liabilities | 10/49 | €367,560 | €387,384 | +€19,824 | +5.4% |
| Equity | 10/15 | €116,848 | €156,694 | +€39,846 | +34.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €113,848 | €153,694 | +€39,846 | +35.0% |
| Distributable reserves | 133 | €113,848 | €153,694 | +€39,846 | +35.0% |
| Amounts payable | 17/49 | €250,712 | €230,690 | -€20,022 | -8.0% |
| Amounts payable after more than one year | 17 | €173,875 | €154,559 | -€19,315 | -11.1% |
| Financial debts | 170/4 | €173,875 | €154,559 | -€19,315 | -11.1% |
| Amounts payable within one year | 42/48 | €76,837 | €72,816 | -€4,021 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €44,494 | €36,761 | -€7,733 | -17.4% |
| Trade debts | 44 | €26,125 | €25,467 | -€658 | -2.5% |
| Suppliers | 440/4 | €26,125 | €25,467 | -€658 | -2.5% |
| Taxes, remuneration and social security | 45 | €6,219 | €9,455 | +€3,236 | +52.0% |
| Taxes | 450/3 | €3,112 | €5,405 | +€2,293 | +73.7% |
| Remuneration and social security | 454/9 | €3,106 | €4,049 | +€943 | +30.4% |
| Other amounts payable | 47/48 | - | €1,133 | +€1,133 | |
| Accrued charges and deferred income | 492/3 | €0 | €3,314 | +€3,314 | |
| Remuneration, social security and pensions | 62 | €34,043 | €41,777 | +€7,734 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,906 | €31,948 | -€2,958 | -8.5% |
| Other operating charges | 640/8 | €2,885 | €3,822 | +€937 | +32.5% |
| Gross operating margin | 9900 | €106,664 | €140,662 | +€33,997 | +31.9% |
| Operating profit (loss) | 9901 | €34,830 | €63,115 | +€28,285 | +81.2% |
| Financial income | 75/76B | €979 | €68 | -€912 | -93.1% |
| Recurring financial income | 75 | €979 | €68 | -€912 | -93.1% |
| Financial charges | 65/66B | €8,127 | €8,019 | -€107 | -1.3% |
| Recurring financial charges | 65 | €8,127 | €8,019 | -€107 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €27,683 | €55,163 | +€27,480 | +99.3% |
| Income taxes | 67/77 | €8,024 | €15,317 | +€7,294 | +90.9% |
| Profit (loss) for the period | 9904 | €19,659 | €39,846 | +€20,186 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €19,659 | €39,846 | +€20,186 | +103% |
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 17 October 2026 via checked.be.