VALUEFIN: 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.
VALUEFIN
Largest movements
- Cash +€34,598
up €34,598 (+55.6%), from €62,222 to €96,819
mainly Net result for the year (+€17,510) and Depreciation (+€13,984)
- Tangible fixed assets -€13,984
down €13,984 (-29.2%), from €47,952 to €33,968
- Receivables within one year -€2,962
down €2,962 (-31.4%), from €9,444 to €6,483
- Reserves +€17,510
up €17,510 (+19.8%), from €88,536 to €106,046
- Gross operating margin -€7,567
down €7,567 (-15.6%), from €48,506 to €40,939
- Taxes -€2,038
down €2,038 (-19.3%), from €10,556 to €8,517
- Depreciation -€815
down €815 (-5.5%), from €14,799 to €13,984
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 | €119,618 | €137,270 | +€17,652 | +14.8% |
| Fixed assets | 21/28 | €47,952 | €33,968 | -€13,984 | -29.2% |
| Tangible fixed assets | 22/27 | €47,952 | €33,968 | -€13,984 | -29.2% |
| Furniture and vehicles | 24 | €47,952 | €33,968 | -€13,984 | -29.2% |
| Current assets | 29/58 | €71,666 | €103,302 | +€31,636 | +44.1% |
| Amounts receivable within one year | 40/41 | €9,444 | €6,483 | -€2,962 | -31.4% |
| Other amounts receivable | 41 | €9,444 | €6,483 | -€2,962 | -31.4% |
| Cash at bank and in hand | 54/58 | €62,222 | €96,819 | +€34,598 | +55.6% |
| Total equity and liabilities | 10/49 | €119,618 | €137,270 | +€17,652 | +14.8% |
| Equity | 10/15 | €107,136 | €124,646 | +€17,510 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €88,536 | €106,046 | +€17,510 | +19.8% |
| Distributable reserves | 133 | €88,536 | €106,046 | +€17,510 | +19.8% |
| Amounts payable | 17/49 | €12,482 | €12,625 | +€142 | +1.1% |
| Amounts payable within one year | 42/48 | €12,482 | €12,625 | +€142 | +1.1% |
| Trade debts | 44 | €44 | - | -€44 | |
| Suppliers | 440/4 | €44 | - | -€44 | |
| Taxes, remuneration and social security | 45 | €2,151 | €2,187 | +€36 | +1.7% |
| Taxes | 450/3 | €2,151 | €2,187 | +€36 | +1.7% |
| Other amounts payable | 47/48 | €10,287 | €10,438 | +€150 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,799 | €13,984 | -€815 | -5.5% |
| Other operating charges | 640/8 | €753 | €773 | +€20 | +2.6% |
| Gross operating margin | 9900 | €48,506 | €40,939 | -€7,567 | -15.6% |
| Operating profit (loss) | 9901 | €32,954 | €26,182 | -€6,772 | -20.5% |
| Financial charges | 65/66B | €141 | €155 | +€15 | +10.5% |
| Recurring financial charges | 65 | €141 | €155 | +€15 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | €32,813 | €26,027 | -€6,786 | -20.7% |
| Income taxes | 67/77 | €10,556 | €8,517 | -€2,038 | -19.3% |
| Profit (loss) for the period | 9904 | €22,258 | €17,510 | -€4,748 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €22,258 | €17,510 | -€4,748 | -21.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.