THE NEW WAVE: 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.
THE NEW WAVE
Largest movements
- Receivables within one year +€3,959
up €3,959 (+30.3%), from €13,043 to €17,002
of which Trade receivables: +€3,959
- Cash -€2,363
down €2,363 (-73.2%), from €3,230 to €867
mainly Receivables within one year (-€3,959) and Trade debts (-€2,851)
- Tangible fixed assets -€1,622
down €1,622 (-16.1%), from €10,069 to €8,447
- Trade debts -€2,851
down €2,851 (-91.0%), from €3,134 to €282
- Profit (loss) carried forward +€1,730
up €1,730 (+10.8%), from -€15,962 to -€14,232
- Tax, wage and social debts +€603
up €603 (+35.6%), from €1,692 to €2,295
- Accrued charges and deferred income +€270
new in 2026: €270
- Gross operating margin +€5,266
up €5,266, from -€1,382 to €3,885
- Other operating charges -€1,512
down €1,512 (-76.1%), from €1,988 to €476
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 | €26,855 | €26,635 | -€221 | -0.8% |
| Fixed assets | 21/28 | €10,069 | €8,447 | -€1,622 | -16.1% |
| Tangible fixed assets | 22/27 | €10,069 | €8,447 | -€1,622 | -16.1% |
| Other tangible fixed assets | 26 | €10,069 | €8,447 | -€1,622 | -16.1% |
| Current assets | 29/58 | €16,786 | €18,188 | +€1,401 | +8.3% |
| Amounts receivable within one year | 40/41 | €13,043 | €17,002 | +€3,959 | +30.3% |
| Trade receivables | 40 | €1,343 | €5,302 | +€3,959 | +295% |
| Other amounts receivable | 41 | €11,700 | €11,700 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,230 | €867 | -€2,363 | -73.2% |
| Deferred charges and accrued income | 490/1 | €514 | €319 | -€195 | -37.9% |
| Total equity and liabilities | 10/49 | €26,855 | €26,635 | -€221 | -0.8% |
| Equity | 10/15 | €5,038 | €6,768 | +€1,730 | +34.3% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,962 | -€14,232 | +€1,730 | +10.8% |
| Amounts payable | 17/49 | €21,817 | €19,866 | -€1,951 | -8.9% |
| Amounts payable after more than one year | 17 | €15,000 | €15,000 | = | 0.0% |
| Financial debts | 170/4 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,817 | €4,596 | -€2,221 | -32.6% |
| Trade debts | 44 | €3,134 | €282 | -€2,851 | -91.0% |
| Suppliers | 440/4 | €3,134 | €282 | -€2,851 | -91.0% |
| Taxes, remuneration and social security | 45 | €1,692 | €2,295 | +€603 | +35.6% |
| Taxes | 450/3 | €1,692 | €2,295 | +€603 | +35.6% |
| Other amounts payable | 47/48 | €1,992 | €2,019 | +€28 | +1.4% |
| Accrued charges and deferred income | 492/3 | - | €270 | +€270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,622 | €1,622 | = | 0.0% |
| Other operating charges | 640/8 | €1,988 | €476 | -€1,512 | -76.1% |
| Gross operating margin | 9900 | -€1,382 | €3,885 | +€5,266 | |
| Operating profit (loss) | 9901 | -€4,992 | €1,787 | +€6,779 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €39 | €57 | +€17 | +44.7% |
| Recurring financial charges | 65 | €39 | €57 | +€17 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,031 | €1,730 | +€6,761 | |
| Profit (loss) for the period | 9904 | -€5,031 | €1,730 | +€6,761 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,031 | €1,730 | +€6,761 |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.