Yvan D'hollander: 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.
Yvan D'hollander
Largest movements
- Receivables after one year -€55,577
no longer reported in 2026 (was €55,577)
- Tangible fixed assets -€18,924
down €18,924 (-34.3%), from €55,225 to €36,301
of which Leasing and similar rights: -€16,536
- Receivables within one year -€10,889
down €10,889 (-16.6%), from €65,417 to €54,528
of which Other amounts receivable: -€17,464
- Cash +€10,103
up €10,103 (+193%), from €5,247 to €15,351
mainly Receivables after one year (+€55,577) and Net result for the year (+€35,002)
- Stocks and contracts -€3,100
down €3,100 (-16.8%), from €18,500 to €15,400
of which Contracts in progress: -€2,500
- Reserves -€55,098
down €55,098 (-39.7%), from €138,912 to €83,813
of which Distributable reserves: -€55,098
- Debts after one year -€8,768
down €8,768 (-32.1%), from €27,300 to €18,532
- Current portion of long-term debt -€7,236
down €7,236 (-40.9%), from €17,698 to €10,462
- Trade debts -€5,956
down €5,956 (-61.8%), from €9,632 to €3,676
- Gross operating margin +€73,045
up €73,045 (+238%), from €30,663 to €103,707
- Staff costs +€18,540
up €18,540 (+103%), from €17,925 to €36,465
- Taxes +€11,509
up €11,509, from €0 to €11,509
- Financial income -€1,356
down €1,356 (-24.8%), from €5,473 to €4,117
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 | €202,149 | €123,782 | -€78,367 | -38.8% |
| Fixed assets | 21/28 | €55,225 | €36,301 | -€18,924 | -34.3% |
| Tangible fixed assets | 22/27 | €55,225 | €36,301 | -€18,924 | -34.3% |
| Plant, machinery and equipment | 23 | €9,823 | €6,717 | -€3,106 | -31.6% |
| Furniture and vehicles | 24 | €1,709 | €2,700 | +€991 | +58.0% |
| Leasing and similar rights | 25 | €42,874 | €26,338 | -€16,536 | -38.6% |
| Other tangible fixed assets | 26 | €819 | €546 | -€273 | -33.3% |
| Current assets | 29/58 | €146,924 | €87,481 | -€59,443 | -40.5% |
| Amounts receivable after more than one year | 29 | €55,577 | - | -€55,577 | |
| Other amounts receivable | 291 | €55,577 | - | -€55,577 | |
| Stocks and contracts in progress | 3 | €18,500 | €15,400 | -€3,100 | -16.8% |
| Stocks | 30/36 | €10,000 | €9,400 | -€600 | -6.0% |
| Contracts in progress | 37 | €8,500 | €6,000 | -€2,500 | -29.4% |
| Amounts receivable within one year | 40/41 | €65,417 | €54,528 | -€10,889 | -16.6% |
| Trade receivables | 40 | €1,647 | €8,222 | +€6,575 | +399% |
| Other amounts receivable | 41 | €63,770 | €46,306 | -€17,464 | -27.4% |
| Cash at bank and in hand | 54/58 | €5,247 | €15,351 | +€10,103 | +193% |
| Deferred charges and accrued income | 490/1 | €2,183 | €2,202 | +€20 | +0.9% |
| Total equity and liabilities | 10/49 | €202,149 | €123,782 | -€78,367 | -38.8% |
| Equity | 10/15 | €145,112 | €90,013 | -€55,098 | -38.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €138,912 | €83,813 | -€55,098 | -39.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €208 | €208 | = | 0.0% |
| Distributable reserves | 133 | €136,843 | €81,745 | -€55,098 | -40.3% |
| Amounts payable | 17/49 | €57,037 | €33,768 | -€23,269 | -40.8% |
| Amounts payable after more than one year | 17 | €27,300 | €18,532 | -€8,768 | -32.1% |
| Financial debts | 170/4 | €27,300 | €18,532 | -€8,768 | -32.1% |
| Amounts payable within one year | 42/48 | €29,738 | €15,237 | -€14,501 | -48.8% |
| Current portion of amounts payable after more than one year | 42 | €17,698 | €10,462 | -€7,236 | -40.9% |
| Trade debts | 44 | €9,632 | €3,676 | -€5,956 | -61.8% |
| Suppliers | 440/4 | €9,632 | €3,676 | -€5,956 | -61.8% |
| Taxes, remuneration and social security | 45 | €2,408 | €1,099 | -€1,309 | -54.4% |
| Remuneration and social security | 454/9 | €2,408 | €1,099 | -€1,309 | -54.4% |
| Non-recurring operating income | 76A | €3,602 | - | -€3,602 | |
| Remuneration, social security and pensions | 62 | €17,925 | €36,465 | +€18,540 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,405 | €20,807 | -€598 | -2.8% |
| Other operating charges | 640/8 | €673 | €694 | +€21 | +3.1% |
| Gross operating margin | 9900 | €30,663 | €103,707 | +€73,045 | +238% |
| Operating profit (loss) | 9901 | -€9,340 | €45,741 | +€55,081 | |
| Financial income | 75/76B | €5,473 | €4,117 | -€1,356 | -24.8% |
| Recurring financial income | 75 | €5,473 | €4,117 | -€1,356 | -24.8% |
| Financial charges | 65/66B | €2,826 | €3,347 | +€522 | +18.5% |
| Recurring financial charges | 65 | €2,826 | €3,347 | +€522 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,692 | €46,511 | +€53,203 | |
| Income taxes | 67/77 | €0 | €11,509 | +€11,509 | |
| Profit (loss) for the period | 9904 | -€6,692 | €35,002 | +€41,694 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,692 | €35,002 | +€41,694 |
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 27 October 2026 via checked.be.