SOWL: 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.
SOWL
Largest movements
- Receivables within one year -€59,432
down €59,432 (-82.4%), from €72,085 to €12,653
of which Other amounts receivable: -€59,358
- Cash -€16,211
down €16,211 (-74.9%), from €21,657 to €5,446
mainly Debts after one year (-€45,437) and Trade debts (-€28,117)
- Debts after one year -€45,437
down €45,437 (-28.0%), from €162,094 to €116,657
- Trade debts -€28,117
down €28,117 (-95.6%), from €29,403 to €1,286
- Profit (loss) carried forward -€2,776
down €2,776 (-0.2%), from -€1.6m to -€1.6m
- Services and other goods -€24,894
no longer reported in 2026 (was €24,894)
- Gross operating margin +€10,954
new in 2026: €10,954
- Financial income -€9,520
no longer reported in 2026 (was €9,520)
- Other operating charges +€8,615
up €8,615 (+438.8%), from €1,963 to €10,578
- Write-downs -€1,945
down €1,945, from €1,490 to -€455
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.
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.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,743 | €18,099 | -€75,644 | -80.7% |
| Current assets | 29/58 | €93,743 | €18,099 | -€75,644 | -80.7% |
| Amounts receivable within one year | 40/41 | €72,085 | €12,653 | -€59,432 | -82.4% |
| Trade receivables | 40 | €75 | - | -€75 | |
| Other amounts receivable | 41 | €72,011 | €12,653 | -€59,358 | -82.4% |
| Cash at bank and in hand | 54/58 | €21,657 | €5,446 | -€16,211 | -74.9% |
| Total equity and liabilities | 10/49 | €93,743 | €18,099 | -€75,644 | -80.7% |
| Equity | 10/15 | -€142,505 | -€145,281 | -€2,776 | -1.9% |
| Contributions | 10/11 | €1,443,169 | €1,443,169 | -€0 | 0.0% |
| Capital | 10 | €1,443,169 | €1,443,169 | -€0 | 0.0% |
| Issued capital | 100 | €1,443,169 | €1,443,169 | -€0 | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,591,874 | -€1,594,650 | -€2,776 | -0.2% |
| Amounts payable | 17/49 | €236,248 | €163,380 | -€72,868 | -30.8% |
| Amounts payable after more than one year | 17 | €162,094 | €116,657 | -€45,437 | -28.0% |
| Financial debts | 170/4 | €162,094 | €116,657 | -€45,437 | -28.0% |
| Credit institutions | 173 | €162,094 | - | -€162,094 | |
| Amounts payable within one year | 42/48 | €74,154 | €46,723 | -€27,431 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €44,751 | €45,437 | +€686 | +1.5% |
| Trade debts | 44 | €29,403 | €1,286 | -€28,117 | -95.6% |
| Suppliers | 440/4 | €29,403 | €1,286 | -€28,117 | -95.6% |
| Operating income | 70/76A | €255 | - | -€255 | |
| Other operating income | 74 | €255 | - | -€255 | |
| Operating charges | 60/66A | €28,347 | - | -€28,347 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €2,066 | +€2,066 | |
| Services and other goods | 61 | €24,894 | - | -€24,894 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,490 | -€455 | -€1,945 | |
| Other operating charges | 640/8 | €1,963 | €10,578 | +€8,615 | +438.8% |
| Gross operating margin | 9900 | - | €10,954 | +€10,954 | |
| Operating profit (loss) | 9901 | -€28,092 | €831 | +€28,923 | |
| Financial income | 75/76B | €9,520 | - | -€9,520 | |
| Recurring financial income | 75 | €9,520 | - | -€9,520 | |
| Other financial income | 752/9 | €9,520 | - | -€9,520 | |
| Financial charges | 65/66B | €4,207 | €3,607 | -€600 | -14.3% |
| Recurring financial charges | 65 | €4,207 | €3,607 | -€600 | -14.3% |
| Debt charges | 650 | €3,518 | - | -€3,518 | |
| Other financial charges | 652/9 | €688 | - | -€688 | |
| Profit (loss) for the period before taxes | 9903 | -€22,779 | -€2,776 | +€20,003 | +87.8% |
| Profit (loss) for the period | 9904 | -€22,779 | -€2,776 | +€20,003 | +87.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,779 | -€2,776 | +€20,003 | +87.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.