TUPLE: what changed
What changed
TUPLE
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€79,137
2025 · €78,919+€217
Equity
€75,226
2025 · €126,090-€50,863
Cash
€102,302
2025 · €76,711+€25,591
Balance sheet total
€877,874
2025 · €871,336+€6,538
Largest movements
Assets
- Receivables within one year -€26,573
down €26,573 (-92.1%), from €28,857 to €2,285
of which Trade receivables: -€24,240
- Cash +€25,591
up €25,591 (+33.4%), from €76,711 to €102,302
mainly Other debts (+€111,940) and Net result for the year (+€79,137)
Equity and liabilities
- Other debts +€111,940
up €111,940 (+807%), from €13,879 to €125,819
- Debts after one year -€67,165
down €67,165 (-10.5%), from €638,424 to €571,259
- Reserves -€50,863
down €50,863 (-47.3%), from €107,490 to €56,626
of which Distributable reserves: -€50,863
- Trade debts +€10,991
up €10,991 (+284%), from €3,869 to €14,860
Income statement
- Gross operating margin +€6,010
up €6,010 (+4.4%), from €137,359 to €143,369
- Financial charges +€5,771
up €5,771 (+25.7%), from €22,443 to €28,214
- Depreciation -€2,474
down €2,474 (-37.4%), from €6,615 to €4,141
- Other operating charges +€2,415
up €2,415 (+148%), from €1,637 to €4,052
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.
Result 2025
€78,919
Gross operating margin
+€6,010
Depreciation
+€2,474
Other operating charges
-€2,415
Financial income
+€4
Financial charges
-€5,771
Taxes
-€84
Result 2026
€79,137
raises the resultlowers the result
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.
From operations
+€228,991
Investment
-€11,660
Financing
-€191,741
Cash 2025
€76,711
From operations (derived)
+€228,991
Net result for the year
+€79,137
Depreciation
+€4,141
Receivables within one year
+€26,573
Deferred charges and accrued income
-€1
Trade debts
+€10,991
Tax, wage and social debts
-€3,788
Other debts
+€111,940
Investment (derived)
-€11,660
Investment in fixed assets (net)
-€11,660
Financing
-€191,741
Debts after one year
-€67,165
Current portion of long-term debt
+€2,502
Short-term financial debts
+€2,923
Contributions, distributions and other
-€130,000
Cash 2026
€102,302
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €871,336 | €877,874 | +€6,538 | +0.8% |
| Fixed assets | 21/28 | €764,663 | €772,182 | +€7,519 | +1.0% |
| Tangible fixed assets | 22/27 | €14,573 | €22,182 | +€7,609 | +52.2% |
| Land and buildings | 22 | €2,970 | €2,227 | -€742 | -25.0% |
| Furniture and vehicles | 24 | €9,715 | €18,443 | +€8,728 | +89.8% |
| Other tangible fixed assets | 26 | €1,888 | €1,511 | -€377 | -20.0% |
| Financial fixed assets | 28 | €750,090 | €750,000 | -€90 | 0.0% |
| Current assets | 29/58 | €106,673 | €105,692 | -€980 | -0.9% |
| Amounts receivable within one year | 40/41 | €28,857 | €2,285 | -€26,573 | -92.1% |
| Trade receivables | 40 | €24,240 | - | -€24,240 | |
| Other amounts receivable | 41 | €4,617 | €2,285 | -€2,333 | -50.5% |
| Cash at bank and in hand | 54/58 | €76,711 | €102,302 | +€25,591 | +33.4% |
| Deferred charges and accrued income | 490/1 | €1,105 | €1,106 | +€1 | +0.1% |
| Total equity and liabilities | 10/49 | €871,336 | €877,874 | +€6,538 | +0.8% |
| Equity | 10/15 | €126,090 | €75,226 | -€50,863 | -40.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €107,490 | €56,626 | -€50,863 | -47.3% |
| Tax-exempt reserves | 132 | €13,620 | €13,620 | = | 0.0% |
| Distributable reserves | 133 | €93,870 | €43,006 | -€50,863 | -54.2% |
| Amounts payable | 17/49 | €745,246 | €802,648 | +€57,402 | +7.7% |
| Amounts payable after more than one year | 17 | €638,424 | €571,259 | -€67,165 | -10.5% |
| Financial debts | 170/4 | €638,424 | €571,259 | -€67,165 | -10.5% |
| Amounts payable within one year | 42/48 | €106,822 | €231,389 | +€124,567 | +117% |
| Current portion of amounts payable after more than one year | 42 | €64,664 | €67,165 | +€2,502 | +3.9% |
| Financial debts | 43 | €8,885 | €11,809 | +€2,923 | +32.9% |
| Credit institutions | 430/8 | €432 | €1,691 | +€1,259 | +291% |
| Other loans | 439 | €8,453 | €10,117 | +€1,664 | +19.7% |
| Trade debts | 44 | €3,869 | €14,860 | +€10,991 | +284% |
| Suppliers | 440/4 | €3,869 | €14,860 | +€10,991 | +284% |
| Taxes, remuneration and social security | 45 | €15,524 | €11,736 | -€3,788 | -24.4% |
| Taxes | 450/3 | €14,773 | €11,736 | -€3,037 | -20.6% |
| Remuneration and social security | 454/9 | €751 | - | -€751 | |
| Other amounts payable | 47/48 | €13,879 | €125,819 | +€111,940 | +807% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,615 | €4,141 | -€2,474 | -37.4% |
| Other operating charges | 640/8 | €1,637 | €4,052 | +€2,415 | +148% |
| Gross operating margin | 9900 | €137,359 | €143,369 | +€6,010 | +4.4% |
| Operating profit (loss) | 9901 | €129,108 | €135,176 | +€6,068 | +4.7% |
| Financial income | 75/76B | €6 | €10 | +€4 | +63.9% |
| Recurring financial income | 75 | €6 | €10 | +€4 | +63.9% |
| Financial charges | 65/66B | €22,443 | €28,214 | +€5,771 | +25.7% |
| Recurring financial charges | 65 | €22,443 | €28,214 | +€5,771 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €106,671 | €106,972 | +€301 | +0.3% |
| Income taxes | 67/77 | €27,751 | €27,836 | +€84 | +0.3% |
| Profit (loss) for the period | 9904 | €78,919 | €79,137 | +€217 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,919 | €79,137 | +€217 | +0.3% |
Next steps
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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 6 November 2026 via checked.be.