SPLASH: 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.
SPLASH
Largest movements
- Deferred charges and accrued income +€6.6m
up €6.6m (+6,804%), from €96,874 to €6.7m
- Receivables within one year -€1.7m
down €1.7m (-90.0%), from €1.9m to €186,606
of which Trade receivables: -€1.7m
- Cash -€757,899
down €757,899 (-79.5%), from €952,868 to €194,969
mainly Deferred charges and accrued income (-€6.6m) and Contributions, distributions and other (-€1.5m)
- Current investments +€600,000
up €600,000, from €0 to €600,000
- Advances received +€5.4m
new in 2026: €5.4m
- Reserves -€917,751
down €917,751 (-32.6%), from €2.8m to €1.9m
- Current portion of long-term debt +€300,000
new in 2026: €300,000
- Gross operating margin +€773,145
up €773,145 (+264%), from €292,936 to €1.1m
- Taxes +€204,906
up €204,906 (+428%), from €47,914 to €252,820
- Financial charges +€196,799
up €196,799 (+255%), from €77,035 to €273,835
- Financial income +€51,740
up €51,740 (+75.9%), from €68,128 to €119,869
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 | €2,945,878 | €7,701,529 | +€4.8m | +161% |
| Fixed assets | 21/28 | €32,938 | €31,518 | -€1,420 | -4.3% |
| Tangible fixed assets | 22/27 | €13,381 | €11,961 | -€1,420 | -10.6% |
| Plant, machinery and equipment | 23 | €3,470 | €5,066 | +€1,596 | +46.0% |
| Furniture and vehicles | 24 | €1,481 | €1,462 | -€19 | -1.3% |
| Other tangible fixed assets | 26 | €8,431 | €5,434 | -€2,997 | -35.5% |
| Financial fixed assets | 28 | €19,557 | €19,557 | = | 0.0% |
| Current assets | 29/58 | €2,912,940 | €7,670,011 | +€4.8m | +163% |
| Amounts receivable within one year | 40/41 | €1,863,198 | €186,606 | -€1.7m | -90.0% |
| Trade receivables | 40 | €1,695,362 | €14,091 | -€1.7m | -99.2% |
| Other amounts receivable | 41 | €167,836 | €172,515 | +€4,679 | +2.8% |
| Current investments | 50/53 | €0 | €600,000 | +€600,000 | |
| Cash at bank and in hand | 54/58 | €952,868 | €194,969 | -€757,899 | -79.5% |
| Deferred charges and accrued income | 490/1 | €96,874 | €6,688,437 | +€6.6m | +6,804% |
| Total equity and liabilities | 10/49 | €2,945,878 | €7,701,529 | +€4.8m | +161% |
| Equity | 10/15 | €2,832,555 | €1,914,804 | -€917,751 | -32.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €2,813,555 | €1,895,804 | -€917,751 | -32.6% |
| Distributable reserves | 133 | €2,813,555 | €1,895,804 | -€917,751 | -32.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €113,323 | €5,786,725 | +€5.7m | +5,006% |
| Amounts payable within one year | 42/48 | €107,664 | €5,774,423 | +€5.7m | +5,263% |
| Current portion of amounts payable after more than one year | 42 | - | €300,000 | +€300,000 | |
| Financial debts | 43 | €6,617 | €2,048 | -€4,570 | -69.1% |
| Credit institutions | 430/8 | €6,617 | €2,048 | -€4,570 | -69.1% |
| Trade debts | 44 | €63,728 | €4,072 | -€59,655 | -93.6% |
| Suppliers | 440/4 | €63,728 | €4,072 | -€59,655 | -93.6% |
| Advances received on contracts in progress | 46 | - | €5,383,633 | +€5.4m | |
| Taxes, remuneration and social security | 45 | €37,274 | €38,702 | +€1,428 | +3.8% |
| Taxes | 450/3 | €3,296 | €3,943 | +€646 | +19.6% |
| Remuneration and social security | 454/9 | €33,978 | €34,759 | +€781 | +2.3% |
| Other amounts payable | 47/48 | €45 | €45,969 | +€45,924 | +102,075% |
| Accrued charges and deferred income | 492/3 | €5,659 | €12,302 | +€6,643 | +117% |
| Non-recurring operating income | 76A | €800 | €0 | -€800 | -100% |
| Remuneration, social security and pensions | 62 | €100,276 | €102,879 | +€2,603 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,566 | €5,006 | +€440 | +9.6% |
| Other operating charges | 640/8 | €1,352 | €1,046 | -€305 | -22.6% |
| Non-recurring operating charges | 66A | €994 | €0 | -€994 | -100% |
| Gross operating margin | 9900 | €292,936 | €1,066,081 | +€773,145 | +264% |
| Operating profit (loss) | 9901 | €185,748 | €957,150 | +€771,402 | +415% |
| Financial income | 75/76B | €68,128 | €119,869 | +€51,740 | +75.9% |
| Recurring financial income | 75 | €68,128 | €119,869 | +€51,740 | +75.9% |
| Financial charges | 65/66B | €77,035 | €273,835 | +€196,799 | +255% |
| Recurring financial charges | 65 | €77,035 | €273,835 | +€196,799 | +255% |
| Profit (loss) for the period before taxes | 9903 | €176,841 | €803,184 | +€626,343 | +354% |
| Income taxes | 67/77 | €47,914 | €252,820 | +€204,906 | +428% |
| Profit (loss) for the period | 9904 | €128,927 | €550,364 | +€421,437 | +327% |
| Profit (loss) for the period to be appropriated | 9905 | €128,927 | €550,364 | +€421,437 | +327% |
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 15 October 2026 via checked.be.