SPLIN: 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.
What changed
SPLIN
NACE 32.400, Other manufacturing
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
-€871,896
2025 · €1.4m-€2.2m
Equity
€4.6m
2025 · €5.5m-€876,149
Cash
€250,123
2025 · €814,315-€564,192
Balance sheet total
€5.1m
2025 · €7.2m-€2.1m
Largest movements
Assets
- Receivables after one year -€1.8m
down €1.8m (-98.6%), from €1.8m to €24,124
of which Other amounts receivable: -€1.7m
- Cash -€564,192
down €564,192 (-69.3%), from €814,315 to €250,123
mainly Other debts (-€1.2m) and Net result for the year (-€871,896)
- Receivables within one year +€432,727
up €432,727 (+37.1%), from €1.2m to €1.6m
of which Other amounts receivable: +€733,288
- Stocks and contracts -€321,765
down €321,765 (-13.0%), from €2.5m to €2.2m
- Tangible fixed assets +€152,570
up €152,570 (+28.0%), from €545,564 to €698,134
of which Plant, machinery and equipment: +€226,695
Equity and liabilities
- Other debts -€1.2m
down €1.2m (-100.0%), from €1.2m to €0
- Reserves -€871,896
down €871,896 (-17.6%), from €5.0m to €4.1m
of which Distributable reserves: -€871,896
Income statement
- Gross operating margin -€2.2m
down €2.2m (-97.4%), from €2.2m to €58,480
- Financial income -€57,169
down €57,169 (-24.0%), from €237,835 to €180,666
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
€1.4m
Gross operating margin
-€2.2m
Staff costs
+€588
Depreciation
-€18,586
Write-downs
-€5,453
Other operating charges
-€1,489
Financial income
-€57,169
Financial charges
+€2,021
Taxes
+€29
Result 2026
-€871,896
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
-€263,237
Investment
-€237,368
Financing
-€63,588
Cash 2025
€814,315
From operations (derived)
-€263,237
Net result for the year
-€871,896
Depreciation
+€138,778
Receivables after one year
+€1.8m
Stocks and contracts
+€321,765
Receivables within one year
-€432,727
Smaller working-capital items
-€7,297
Trade debts
+€29,727
Advances received
-€11,739
Other debts
-€1.2m
Accrued charges and deferred income
+€11,174
Investment (derived)
-€237,368
Investment in fixed assets (net)
-€237,368
Financing
-€63,588
Current portion of long-term debt
-€59,335
Contributions, distributions and other
-€4,253
Cash 2026
€250,123
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,218,186 | €5,107,822 | -€2.1m | -29.2% |
| Fixed assets | 21/28 | €675,271 | €773,861 | +€98,590 | +14.6% |
| Intangible fixed assets | 21 | €22,083 | €13,102 | -€8,981 | -40.7% |
| Tangible fixed assets | 22/27 | €545,564 | €698,134 | +€152,570 | +28.0% |
| Land and buildings | 22 | €351,561 | €317,269 | -€34,292 | -9.8% |
| Plant, machinery and equipment | 23 | €78,046 | €304,742 | +€226,695 | +290.5% |
| Furniture and vehicles | 24 | €39,249 | €51,473 | +€12,225 | +31.1% |
| Other tangible fixed assets | 26 | €31,379 | €24,650 | -€6,729 | -21.4% |
| Assets under construction and advance payments | 27 | €45,328 | €0 | -€45,328 | -100.0% |
| Financial fixed assets | 28 | €107,625 | €62,625 | -€45,000 | -41.8% |
| Current assets | 29/58 | €6,542,915 | €4,333,961 | -€2.2m | -33.8% |
| Amounts receivable after more than one year | 29 | €1,783,103 | €24,124 | -€1.8m | -98.6% |
| Trade receivables | 290 | €110,055 | €24,124 | -€85,931 | -78.1% |
| Other amounts receivable | 291 | €1,673,048 | €0 | -€1.7m | -100.0% |
| Stocks and contracts in progress | 3 | €2,472,017 | €2,150,252 | -€321,765 | -13.0% |
| Stocks | 30/36 | €2,472,017 | €2,150,252 | -€321,765 | -13.0% |
| Amounts receivable within one year | 40/41 | €1,165,605 | €1,598,332 | +€432,727 | +37.1% |
| Trade receivables | 40 | €1,124,703 | €824,142 | -€300,561 | -26.7% |
| Other amounts receivable | 41 | €40,902 | €774,190 | +€733,288 | +1792.8% |
| Cash at bank and in hand | 54/58 | €814,315 | €250,123 | -€564,192 | -69.3% |
| Deferred charges and accrued income | 490/1 | €307,875 | €311,130 | +€3,255 | +1.1% |
| Total equity and liabilities | 10/49 | €7,218,186 | €5,107,822 | -€2.1m | -29.2% |
| Equity | 10/15 | €5,460,187 | €4,584,038 | -€876,149 | -16.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €4,950,782 | €4,078,885 | -€871,896 | -17.6% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €4,900,782 | €4,028,885 | -€871,896 | -17.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €9,405 | €5,152 | -€4,253 | -45.2% |
| Amounts payable | 17/49 | €1,757,999 | €523,785 | -€1.2m | -70.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,633,634 | €388,246 | -€1.2m | -76.2% |
| Current portion of amounts payable after more than one year | 42 | €59,335 | €0 | -€59,335 | -100.0% |
| Trade debts | 44 | €174,303 | €204,030 | +€29,727 | +17.1% |
| Suppliers | 440/4 | €174,303 | €204,030 | +€29,727 | +17.1% |
| Advances received on contracts in progress | 46 | €17,337 | €5,598 | -€11,739 | -67.7% |
| Taxes, remuneration and social security | 45 | €182,659 | €178,618 | -€4,042 | -2.2% |
| Taxes | 450/3 | €1,182 | €14,126 | +€12,943 | +1094.6% |
| Remuneration and social security | 454/9 | €181,477 | €164,492 | -€16,985 | -9.4% |
| Other amounts payable | 47/48 | €1,200,000 | €0 | -€1.2m | -100.0% |
| Accrued charges and deferred income | 492/3 | €124,365 | €135,539 | +€11,174 | +9.0% |
| Non-recurring operating income | 76A | €0 | €16,240 | +€16,240 | |
| Remuneration, social security and pensions | 62 | €952,746 | €952,158 | -€588 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,192 | €138,778 | +€18,586 | +15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,375 | -€1,922 | +€5,453 | +73.9% |
| Other operating charges | 640/8 | €14,997 | €16,485 | +€1,489 | +9.9% |
| Gross operating margin | 9900 | €2,221,559 | €58,480 | -€2.2m | -97.4% |
| Operating profit (loss) | 9901 | €1,140,999 | -€1,047,019 | -€2.2m | |
| Financial income | 75/76B | €237,835 | €180,666 | -€57,169 | -24.0% |
| Recurring financial income | 75 | €237,835 | €180,666 | -€57,169 | -24.0% |
| Financial charges | 65/66B | €6,361 | €4,340 | -€2,021 | -31.8% |
| Recurring financial charges | 65 | €6,361 | €4,340 | -€2,021 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €1,372,473 | -€870,693 | -€2.2m | |
| Income taxes | 67/77 | €1,232 | €1,203 | -€29 | -2.3% |
| Profit (loss) for the period | 9904 | €1,371,242 | -€871,896 | -€2.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,371,242 | -€871,896 | -€2.2m |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.