TOP BELGIAN BRANDS: what changed
TOP BELGIAN BRANDS
Largest movements
- Receivables within one year +€17,667
up €17,667 (+152%), from €11,645 to €29,312
of which Trade receivables: +€19,061
- Intangible fixed assets -€12,881
down €12,881 (-63.2%), from €20,395 to €7,514
- Deferred charges and accrued income -€5,615
down €5,615 (-76.8%), from €7,311 to €1,696
- Cash -€488
down €488 (-92.0%), from €531 to €43
mainly Receivables within one year (-€17,667) and Trade debts (-€12,832)
- Profit (loss) carried forward +€17,433
up €17,433 (+62.0%), from -€28,112 to -€10,679
- Trade debts -€12,832
down €12,832 (-94.5%), from €13,582 to €750
- Other debts -€9,701
down €9,701 (-27.2%), from €35,651 to €25,950
- Tax, wage and social debts +€3,783
new in 2026: €3,783
- Gross operating margin +€23,169
up €23,169 (+268%), from €8,639 to €31,808
- Financial charges +€767
up €767 (+420%), from €183 to €950
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,322 | €39,004 | -€1,317 | -3.3% |
| Fixed assets | 21/28 | €20,835 | €7,954 | -€12,881 | -61.8% |
| Intangible fixed assets | 21 | €20,395 | €7,514 | -€12,881 | -63.2% |
| Financial fixed assets | 28 | €440 | €440 | = | 0.0% |
| Current assets | 29/58 | €19,486 | €31,050 | +€11,564 | +59.3% |
| Amounts receivable within one year | 40/41 | €11,645 | €29,312 | +€17,667 | +152% |
| Trade receivables | 40 | €10,251 | €29,312 | +€19,061 | +186% |
| Other amounts receivable | 41 | €1,393 | - | -€1,393 | |
| Cash at bank and in hand | 54/58 | €531 | €43 | -€488 | -92.0% |
| Deferred charges and accrued income | 490/1 | €7,311 | €1,696 | -€5,615 | -76.8% |
| Total equity and liabilities | 10/49 | €40,322 | €39,004 | -€1,317 | -3.3% |
| Equity | 10/15 | -€8,912 | €8,521 | +€17,433 | |
| Contributions | 10/11 | €19,200 | €19,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,112 | -€10,679 | +€17,433 | +62.0% |
| Amounts payable | 17/49 | €49,234 | €30,483 | -€18,751 | -38.1% |
| Amounts payable within one year | 42/48 | €49,234 | €30,483 | -€18,751 | -38.1% |
| Trade debts | 44 | €13,582 | €750 | -€12,832 | -94.5% |
| Suppliers | 440/4 | €13,582 | €750 | -€12,832 | -94.5% |
| Taxes, remuneration and social security | 45 | - | €3,783 | +€3,783 | |
| Taxes | 450/3 | - | €3,783 | +€3,783 | |
| Other amounts payable | 47/48 | €35,651 | €25,950 | -€9,701 | -27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,881 | €12,881 | = | 0.0% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €8,639 | €31,808 | +€23,169 | +268% |
| Operating profit (loss) | 9901 | -€4,770 | €18,383 | +€23,153 | |
| Financial charges | 65/66B | €183 | €950 | +€767 | +420% |
| Recurring financial charges | 65 | €183 | €950 | +€767 | +420% |
| Profit (loss) for the period before taxes | 9903 | -€4,953 | €17,433 | +€22,386 | |
| Profit (loss) for the period | 9904 | -€4,953 | €17,433 | +€22,386 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,953 | €17,433 | +€22,386 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.