WE HAVE SOLUTIONS: 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.
WE HAVE SOLUTIONS
Largest movements
- Tangible fixed assets +€212,223
up €212,223 (+1,487%), from €14,272 to €226,494
of which Land and buildings: +€215,764
- Receivables within one year +€27,086
up €27,086 (+125%), from €21,734 to €48,820
of which Trade receivables: +€15,267
- Cash -€8,514
down €8,514 (-23.1%), from €36,801 to €28,287
mainly Investment in fixed assets (net) (-€223,387) and Receivables within one year (-€27,086)
- Debts after one year +€171,634
new in 2026: €171,634
- Trade debts +€34,864
up €34,864 (+515%), from €6,764 to €41,628
- Reserves +€17,800
up €17,800 (+29.0%), from €61,300 to €79,100
of which Distributable reserves: +€17,800
- Current portion of long-term debt +€10,044
new in 2026: €10,044
- Gross operating margin -€10,894
down €10,894 (-20.5%), from €53,024 to €42,131
- Taxes -€10,118
down €10,118 (-76.1%), from €13,301 to €3,183
- Depreciation +€8,437
up €8,437 (+309%), from €2,728 to €11,164
- Financial charges +€6,251
up €6,251 (+358%), from €1,747 to €7,998
- Other operating charges +€1,541
up €1,541 (+320%), from €481 to €2,022
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 | €73,679 | €306,393 | +€232,714 | +316% |
| Fixed assets | 21/28 | €14,272 | €226,494 | +€212,223 | +1,487% |
| Tangible fixed assets | 22/27 | €14,272 | €226,494 | +€212,223 | +1,487% |
| Land and buildings | 22 | - | €215,764 | +€215,764 | |
| Plant, machinery and equipment | 23 | €5,805 | €4,208 | -€1,597 | -27.5% |
| Furniture and vehicles | 24 | €8,467 | €6,522 | -€1,945 | -23.0% |
| Current assets | 29/58 | €59,407 | €79,898 | +€20,491 | +34.5% |
| Amounts receivable within one year | 40/41 | €21,734 | €48,820 | +€27,086 | +125% |
| Trade receivables | 40 | €18,698 | €33,964 | +€15,267 | +81.6% |
| Other amounts receivable | 41 | €3,036 | €14,855 | +€11,819 | +389% |
| Cash at bank and in hand | 54/58 | €36,801 | €28,287 | -€8,514 | -23.1% |
| Deferred charges and accrued income | 490/1 | €872 | €2,792 | +€1,920 | +220% |
| Total equity and liabilities | 10/49 | €73,679 | €306,393 | +€232,714 | +316% |
| Equity | 10/15 | €61,612 | €79,442 | +€17,830 | +28.9% |
| Reserves | 13 | €61,300 | €79,100 | +€17,800 | +29.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €51,300 | €69,100 | +€17,800 | +34.7% |
| Profit (loss) carried forward | 14 | €312 | €342 | +€30 | +9.5% |
| Amounts payable | 17/49 | €12,067 | €226,951 | +€214,884 | +1,781% |
| Amounts payable after more than one year | 17 | - | €171,634 | +€171,634 | |
| Financial debts | 170/4 | - | €171,634 | +€171,634 | |
| Amounts payable within one year | 42/48 | €12,067 | €55,317 | +€43,250 | +358% |
| Current portion of amounts payable after more than one year | 42 | - | €10,044 | +€10,044 | |
| Trade debts | 44 | €6,764 | €41,628 | +€34,864 | +515% |
| Suppliers | 440/4 | €6,764 | €41,628 | +€34,864 | +515% |
| Taxes, remuneration and social security | 45 | €5,303 | €3,044 | -€2,259 | -42.6% |
| Taxes | 450/3 | €2,059 | €3,044 | +€985 | +47.9% |
| Remuneration and social security | 454/9 | €3,245 | €0 | -€3,245 | -100% |
| Other amounts payable | 47/48 | €0 | €601 | +€601 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,728 | €11,164 | +€8,437 | +309% |
| Other operating charges | 640/8 | €481 | €2,022 | +€1,541 | +320% |
| Gross operating margin | 9900 | €53,024 | €42,131 | -€10,894 | -20.5% |
| Operating profit (loss) | 9901 | €49,816 | €28,944 | -€20,871 | -41.9% |
| Financial income | 75/76B | €1,490 | €66 | -€1,424 | -95.5% |
| Recurring financial income | 75 | €1,490 | €66 | -€1,424 | -95.5% |
| Financial charges | 65/66B | €1,747 | €7,998 | +€6,251 | +358% |
| Recurring financial charges | 65 | €1,747 | €7,998 | +€6,251 | +358% |
| Profit (loss) for the period before taxes | 9903 | €49,559 | €21,012 | -€28,547 | -57.6% |
| Income taxes | 67/77 | €13,301 | €3,183 | -€10,118 | -76.1% |
| Profit (loss) for the period | 9904 | €36,258 | €17,830 | -€18,428 | -50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,258 | €17,830 | -€18,428 | -50.8% |
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 20 October 2026 via checked.be.