VALUE HOLDING: what changed
Two fiscal 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.
VALUE HOLDING
Largest movements
- Financial fixed assets -€422,320
down €422,320 (-7.2%), from €5.9m to €5.5m
- Cash -€241,899
down €241,899 (-56.4%), from €428,525 to €186,626
mainly Net result for the year (-€263,358) and Current investments (-€238,898)
- Current investments +€238,898
up €238,898 (+16.2%), from €1.5m to €1.7m
- Profit (loss) carried forward -€335,958
down €335,958 (-4.8%), from €7.0m to €6.6m
- Accrued charges and deferred income -€90,000
no longer reported in 2026 (was €90,000)
- Financial income -€1.1m
down €1.1m (-71.8%), from €1.5m to €430,669
of which Non-recurring financial income: -€708,917
- Financial charges +€162,922
up €162,922 (+35.5%), from €459,541 to €622,463
of which Non-recurring financial charges: +€179,338
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.
Cash bridge derived
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 | €7,885,439 | €7,459,481 | -€425,958 | -5.4% |
| Fixed assets | 21/28 | €5,892,419 | €5,470,099 | -€422,320 | -7.2% |
| Financial fixed assets | 28 | €5,892,419 | €5,470,099 | -€422,320 | -7.2% |
| Current assets | 29/58 | €1,993,020 | €1,989,382 | -€3,639 | -0.2% |
| Amounts receivable within one year | 40/41 | €86,434 | €85,796 | -€637 | -0.7% |
| Other amounts receivable | 41 | €86,434 | €85,796 | -€637 | -0.7% |
| Current investments | 50/53 | €1,478,061 | €1,716,959 | +€238,898 | +16.2% |
| Cash at bank and in hand | 54/58 | €428,525 | €186,626 | -€241,899 | -56.4% |
| Total equity and liabilities | 10/49 | €7,885,439 | €7,459,481 | -€425,958 | -5.4% |
| Equity | 10/15 | €7,795,439 | €7,459,481 | -€335,958 | -4.3% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €75,000 | €75,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €75,000 | €75,000 | = | 0.0% |
| Legal reserve | 130 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,970,439 | €6,634,481 | -€335,958 | -4.8% |
| Amounts payable | 17/49 | €90,000 | - | -€90,000 | |
| Accrued charges and deferred income | 492/3 | €90,000 | - | -€90,000 | |
| Other operating charges | 640/8 | €1,053 | €1,086 | +€34 | +3.2% |
| Operating profit (loss) | 9901 | -€1,053 | -€1,086 | -€34 | -3.2% |
| Financial income | 75/76B | €1,528,141 | €430,669 | -€1.1m | -71.8% |
| Recurring financial income | 75 | €819,224 | €430,669 | -€388,555 | -47.4% |
| Non-recurring financial income | 76B | €708,917 | - | -€708,917 | |
| Financial charges | 65/66B | €459,541 | €622,463 | +€162,922 | +35.5% |
| Recurring financial charges | 65 | €38,774 | €22,357 | -€16,417 | -42.3% |
| Non-recurring financial charges | 66B | €420,767 | €600,105 | +€179,338 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €1,067,547 | -€192,879 | -€1.3m | |
| Income taxes | 67/77 | €99,397 | €70,479 | -€28,918 | -29.1% |
| Profit (loss) for the period | 9904 | €968,150 | -€263,358 | -€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €968,150 | -€263,358 | -€1.2m |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.