THE SEVEN: 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 SEVEN
Largest movements
- Stocks and contracts -€149,274
down €149,274 (-17.4%), from €855,683 to €706,408
- Cash -€50,592
down €50,592 (-5.9%), from €862,661 to €812,069
mainly Contributions, distributions and other (-€400,000) and Tax, wage and social debts (-€47,793)
- Receivables within one year +€38,613
up €38,613 (+22.6%), from €170,764 to €209,376
of which Other amounts receivable: +€53,622
- Profit (loss) carried forward -€126,342
down €126,342 (-13.1%), from €963,124 to €836,782
- Tax, wage and social debts -€47,793
down €47,793 (-20.5%), from €233,069 to €185,276
of which Taxes: -€49,070
- Gross operating margin -€135,621
down €135,621 (-12.7%), from €1.1m to €934,950
- Taxes -€43,800
down €43,800 (-31.4%), from €139,373 to €95,572
- Financial income -€12,712
down €12,712 (-69.2%), from €18,358 to €5,646
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 | €3,192,654 | €3,027,612 | -€165,043 | -5.2% |
| Fixed assets | 21/28 | €1,301,693 | €1,297,880 | -€3,813 | -0.3% |
| Tangible fixed assets | 22/27 | €1,295,643 | €1,291,830 | -€3,813 | -0.3% |
| Land and buildings | 22 | €1,289,812 | €1,283,881 | -€5,931 | -0.5% |
| Plant, machinery and equipment | 23 | €5,831 | €7,949 | +€2,118 | +36.3% |
| Financial fixed assets | 28 | €6,050 | €6,050 | = | 0.0% |
| Current assets | 29/58 | €1,890,961 | €1,729,732 | -€161,230 | -8.5% |
| Stocks and contracts in progress | 3 | €855,683 | €706,408 | -€149,274 | -17.4% |
| Stocks | 30/36 | €855,683 | €706,408 | -€149,274 | -17.4% |
| Amounts receivable within one year | 40/41 | €170,764 | €209,376 | +€38,613 | +22.6% |
| Trade receivables | 40 | €80,764 | €65,755 | -€15,009 | -18.6% |
| Other amounts receivable | 41 | €90,000 | €143,622 | +€53,622 | +59.6% |
| Cash at bank and in hand | 54/58 | €862,661 | €812,069 | -€50,592 | -5.9% |
| Deferred charges and accrued income | 490/1 | €1,854 | €1,878 | +€24 | +1.3% |
| Total equity and liabilities | 10/49 | €3,192,654 | €3,027,612 | -€165,043 | -5.2% |
| Equity | 10/15 | €2,235,354 | €2,109,012 | -€126,342 | -5.7% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Capital | 10 | €700,000 | €700,000 | = | 0.0% |
| Issued capital | 100 | €700,000 | €700,000 | = | 0.0% |
| Revaluation surpluses | 12 | €363,389 | €363,389 | = | 0.0% |
| Reserves | 13 | €208,840 | €208,840 | = | 0.0% |
| Non-distributable reserves | 130/1 | €70,000 | €70,000 | = | 0.0% |
| Legal reserve | 130 | €70,000 | €70,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €101,157 | €101,157 | = | 0.0% |
| Distributable reserves | 133 | €37,683 | €37,683 | = | 0.0% |
| Profit (loss) carried forward | 14 | €963,124 | €836,782 | -€126,342 | -13.1% |
| Amounts payable | 17/49 | €957,301 | €918,600 | -€38,701 | -4.0% |
| Amounts payable after more than one year | 17 | €84,362 | €105,339 | +€20,977 | +24.9% |
| Financial debts | 170/4 | €84,362 | €105,339 | +€20,977 | +24.9% |
| Amounts payable within one year | 42/48 | €872,938 | €813,261 | -€59,678 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €27,636 | €29,023 | +€1,387 | +5.0% |
| Trade debts | 44 | €201,561 | €199,255 | -€2,306 | -1.1% |
| Suppliers | 440/4 | €201,561 | €199,255 | -€2,306 | -1.1% |
| Taxes, remuneration and social security | 45 | €233,069 | €185,276 | -€47,793 | -20.5% |
| Taxes | 450/3 | €172,409 | €123,339 | -€49,070 | -28.5% |
| Remuneration and social security | 454/9 | €60,660 | €61,937 | +€1,276 | +2.1% |
| Other amounts payable | 47/48 | €410,672 | €399,707 | -€10,965 | -2.7% |
| Remuneration, social security and pensions | 62 | €490,969 | €494,322 | +€3,353 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,950 | €27,461 | -€1,489 | -5.1% |
| Other operating charges | 640/8 | €22,721 | €22,593 | -€129 | -0.6% |
| Non-recurring operating charges | 66A | €124 | - | -€124 | |
| Gross operating margin | 9900 | €1,070,571 | €934,950 | -€135,621 | -12.7% |
| Operating profit (loss) | 9901 | €527,807 | €390,575 | -€137,232 | -26.0% |
| Financial income | 75/76B | €18,358 | €5,646 | -€12,712 | -69.2% |
| Recurring financial income | 75 | €18,358 | €5,646 | -€12,712 | -69.2% |
| Financial charges | 65/66B | €25,252 | €26,991 | +€1,739 | +6.9% |
| Recurring financial charges | 65 | €25,252 | €26,991 | +€1,739 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €520,913 | €369,230 | -€151,682 | -29.1% |
| Income taxes | 67/77 | €139,373 | €95,572 | -€43,800 | -31.4% |
| Profit (loss) for the period | 9904 | €381,540 | €273,658 | -€107,882 | -28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €381,540 | €273,658 | -€107,882 | -28.3% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.