TOM LENTACKER: 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.
TOM LENTACKER
Largest movements
- Current investments -€49,595
down €49,595 (-54.7%), from €90,662 to €41,068
- Cash +€8,965
up €8,965 (+55.2%), from €16,237 to €25,201
mainly Current investments (+€49,595) and Depreciation (+€15,091)
- Receivables within one year -€6,293
down €6,293 (-99.3%), from €6,335 to €42
- Tangible fixed assets -€5,305
down €5,305 (-2.7%), from €197,103 to €191,798
of which Land and buildings: -€5,595
- Debts after one year -€58,429
down €58,429 (-29.8%), from €196,351 to €137,923
- Reserves +€7,892
up €7,892 (+7.1%), from €110,982 to €118,874
- Tax, wage and social debts -€4,110
down €4,110 (-100%), from €4,110 to €0
- Gross operating margin +€21,851
up €21,851 (+103%), from €21,204 to €43,054
- Taxes +€6,285
up €6,285 (+1,468%), from €428 to €6,713
- Depreciation +€2,155
up €2,155 (+16.7%), from €12,936 to €15,091
- Financial charges -€1,579
down €1,579 (-12.4%), from €12,730 to €11,151
- Financial income -€466
down €466 (-16.1%), from €2,897 to €2,431
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 | €326,221 | €274,331 | -€51,891 | -15.9% |
| Fixed assets | 21/28 | €210,618 | €205,396 | -€5,222 | -2.5% |
| Tangible fixed assets | 22/27 | €197,103 | €191,798 | -€5,305 | -2.7% |
| Land and buildings | 22 | €173,946 | €168,350 | -€5,595 | -3.2% |
| Plant, machinery and equipment | 23 | €1,669 | €1,147 | -€522 | -31.3% |
| Furniture and vehicles | 24 | €21,489 | €22,300 | +€811 | +3.8% |
| Financial fixed assets | 28 | €13,515 | €13,598 | +€83 | +0.6% |
| Current assets | 29/58 | €115,603 | €68,935 | -€46,669 | -40.4% |
| Amounts receivable within one year | 40/41 | €6,335 | €42 | -€6,293 | -99.3% |
| Other amounts receivable | 41 | €6,335 | €42 | -€6,293 | -99.3% |
| Current investments | 50/53 | €90,662 | €41,068 | -€49,595 | -54.7% |
| Cash at bank and in hand | 54/58 | €16,237 | €25,201 | +€8,965 | +55.2% |
| Deferred charges and accrued income | 490/1 | €2,369 | €2,623 | +€254 | +10.7% |
| Total equity and liabilities | 10/49 | €326,221 | €274,331 | -€51,891 | -15.9% |
| Equity | 10/15 | €112,804 | €123,874 | +€11,070 | +9.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €110,982 | €118,874 | +€7,892 | +7.1% |
| Distributable reserves | 133 | €110,982 | €118,874 | +€7,892 | +7.1% |
| Profit (loss) carried forward | 14 | -€3,178 | €0 | +€3,178 | |
| Amounts payable | 17/49 | €213,418 | €150,457 | -€62,961 | -29.5% |
| Amounts payable after more than one year | 17 | €196,351 | €137,923 | -€58,429 | -29.8% |
| Financial debts | 170/4 | €196,351 | €137,923 | -€58,429 | -29.8% |
| Amounts payable within one year | 42/48 | €15,954 | €11,736 | -€4,218 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €8,030 | €8,429 | +€398 | +5.0% |
| Trade debts | 44 | €3,813 | €3,308 | -€506 | -13.3% |
| Suppliers | 440/4 | €3,813 | €3,308 | -€506 | -13.3% |
| Taxes, remuneration and social security | 45 | €4,110 | €0 | -€4,110 | -100% |
| Taxes | 450/3 | €4,110 | €0 | -€4,110 | -100% |
| Accrued charges and deferred income | 492/3 | €1,113 | €798 | -€315 | -28.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,936 | €15,091 | +€2,155 | +16.7% |
| Other operating charges | 640/8 | €1,185 | €1,460 | +€275 | +23.2% |
| Gross operating margin | 9900 | €21,204 | €43,054 | +€21,851 | +103% |
| Operating profit (loss) | 9901 | €7,083 | €26,504 | +€19,420 | +274% |
| Financial income | 75/76B | €2,897 | €2,431 | -€466 | -16.1% |
| Recurring financial income | 75 | €2,897 | €2,431 | -€466 | -16.1% |
| Financial charges | 65/66B | €12,730 | €11,151 | -€1,579 | -12.4% |
| Recurring financial charges | 65 | €12,730 | €11,151 | -€1,579 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,750 | €17,784 | +€20,533 | |
| Income taxes | 67/77 | €428 | €6,713 | +€6,285 | +1,468% |
| Profit (loss) for the period | 9904 | -€3,178 | €11,070 | +€14,248 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,178 | €11,070 | +€14,248 |
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.