STORYLINES: 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.
STORYLINES
Largest movements
- Receivables within one year +€7,481
up €7,481 (+5.8%), from €128,717 to €136,198
of which Other amounts receivable: +€5,061
- Cash -€2,553
down €2,553 (-33.9%), from €7,537 to €4,984
mainly Contributions, distributions and other (-€28,358) and Receivables within one year (-€7,481)
- Reserves +€3,625
up €3,625 (+3.5%), from €103,804 to €107,429
of which Distributable reserves: +€3,625
- Current portion of long-term debt +€2,500
up €2,500 (+33.3%), from €7,500 to €10,000
- Gross operating margin +€2,961
up €2,961 (+7.2%), from €41,256 to €44,217
- Taxes +€1,428
up €1,428 (+9.3%), from €15,288 to €16,716
- Financial charges -€952
down €952 (-28.7%), from €3,320 to €2,368
- Financial income +€652
up €652 (+8.1%), from €8,028 to €8,680
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 | €168,774 | €174,661 | +€5,887 | +3.5% |
| Formation expenses | 20 | €770 | €513 | -€257 | -33.4% |
| Fixed assets | 21/28 | €1,450 | €1,564 | +€114 | +7.9% |
| Tangible fixed assets | 22/27 | €1,450 | €1,564 | +€114 | +7.9% |
| Plant, machinery and equipment | 23 | €1,450 | €1,564 | +€114 | +7.9% |
| Current assets | 29/58 | €166,554 | €172,584 | +€6,030 | +3.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €128,717 | €136,198 | +€7,481 | +5.8% |
| Trade receivables | 40 | - | €2,420 | +€2,420 | |
| Other amounts receivable | 41 | €128,717 | €133,778 | +€5,061 | +3.9% |
| Cash at bank and in hand | 54/58 | €7,537 | €4,984 | -€2,553 | -33.9% |
| Deferred charges and accrued income | 490/1 | €300 | €1,402 | +€1,102 | +367% |
| Total equity and liabilities | 10/49 | €168,774 | €174,661 | +€5,887 | +3.5% |
| Equity | 10/15 | €146,571 | €150,196 | +€3,625 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,804 | €107,429 | +€3,625 | +3.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €101,944 | €105,569 | +€3,625 | +3.6% |
| Profit (loss) carried forward | 14 | €24,167 | €24,167 | = | 0.0% |
| Amounts payable | 17/49 | €22,203 | €24,465 | +€2,262 | +10.2% |
| Amounts payable within one year | 42/48 | €22,203 | €24,465 | +€2,262 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €7,500 | €10,000 | +€2,500 | +33.3% |
| Trade debts | 44 | €2,084 | €406 | -€1,678 | -80.5% |
| Suppliers | 440/4 | €2,084 | €406 | -€1,678 | -80.5% |
| Taxes, remuneration and social security | 45 | €12,619 | €14,059 | +€1,440 | +11.4% |
| Taxes | 450/3 | €12,619 | €14,059 | +€1,440 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,078 | €1,128 | +€50 | +4.6% |
| Other operating charges | 640/8 | €781 | €702 | -€79 | -10.1% |
| Gross operating margin | 9900 | €41,256 | €44,217 | +€2,961 | +7.2% |
| Operating profit (loss) | 9901 | €39,397 | €42,387 | +€2,990 | +7.6% |
| Financial income | 75/76B | €8,028 | €8,680 | +€652 | +8.1% |
| Recurring financial income | 75 | €8,028 | €8,680 | +€652 | +8.1% |
| Financial charges | 65/66B | €3,320 | €2,368 | -€952 | -28.7% |
| Recurring financial charges | 65 | €3,320 | €2,368 | -€952 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €44,105 | €48,699 | +€4,594 | +10.4% |
| Income taxes | 67/77 | €15,288 | €16,716 | +€1,428 | +9.3% |
| Profit (loss) for the period | 9904 | €28,817 | €31,983 | +€3,166 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,817 | €31,983 | +€3,166 | +11.0% |
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 21 October 2026 via checked.be.