SLOW FOX: 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.
SLOW FOX
Largest movements
- Cash -€642
down €642 (-71.0%), from €903 to €262
mainly Net result for the year (-€12,607) and Receivables within one year (-€0)
- Tangible fixed assets -€120
no longer reported in 2026 (was €120)
- Profit (loss) carried forward -€12,607
down €12,607 (-7.2%), from -€176,103 to -€188,711
- Other debts +€7,046
up €7,046 (+12.3%), from €57,135 to €64,181
- Trade debts +€4,800
new in 2026: €4,800
- Financial charges -€529,551
down €529,551 (-99.2%), from €533,752 to €4,201
- Financial income -€471,187
down €471,187 (-99.8%), from €471,992 to €805
- Gross operating margin -€7,673
down €7,673 (-853%), from -€899 to -€8,572
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 | €1,031 | €270 | -€761 | -73.8% |
| Fixed assets | 21/28 | €120 | - | -€120 | |
| Tangible fixed assets | 22/27 | €120 | - | -€120 | |
| Plant, machinery and equipment | 23 | €120 | - | -€120 | |
| Current assets | 29/58 | €911 | €270 | -€642 | -70.4% |
| Amounts receivable within one year | 40/41 | €8 | €8 | +€0 | +0.2% |
| Other amounts receivable | 41 | €8 | €8 | +€0 | +0.2% |
| Cash at bank and in hand | 54/58 | €903 | €262 | -€642 | -71.0% |
| Total equity and liabilities | 10/49 | €1,031 | €270 | -€761 | -73.8% |
| Equity | 10/15 | -€56,103 | -€68,711 | -€12,607 | -22.5% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€176,103 | -€188,711 | -€12,607 | -7.2% |
| Amounts payable | 17/49 | €57,135 | €68,981 | +€11,846 | +20.7% |
| Amounts payable within one year | 42/48 | €57,135 | €68,981 | +€11,846 | +20.7% |
| Trade debts | 44 | - | €4,800 | +€4,800 | |
| Suppliers | 440/4 | - | €4,800 | +€4,800 | |
| Other amounts payable | 47/48 | €57,135 | €64,181 | +€7,046 | +12.3% |
| Non-recurring operating income | 76A | €2,640 | - | -€2,640 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120 | €120 | -€0 | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€899 | -€8,572 | -€7,673 | -853% |
| Operating profit (loss) | 9901 | -€1,524 | -€9,211 | -€7,687 | -504% |
| Financial income | 75/76B | €471,992 | €805 | -€471,187 | -99.8% |
| Recurring financial income | 75 | €471,992 | €805 | -€471,187 | -99.8% |
| Financial charges | 65/66B | €533,752 | €4,201 | -€529,551 | -99.2% |
| Recurring financial charges | 65 | €533,752 | €4,201 | -€529,551 | -99.2% |
| Profit (loss) for the period before taxes | 9903 | -€63,285 | -€12,607 | +€50,677 | +80.1% |
| Profit (loss) for the period | 9904 | -€63,285 | -€12,607 | +€50,677 | +80.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,285 | -€12,607 | +€50,677 | +80.1% |
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 31 October 2026 via checked.be.