2 WORK: 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.
2 WORK
Largest movements
- Tangible fixed assets -€15,391
down €15,391 (-26.6%), from €57,763 to €42,372
of which Furniture and vehicles: -€11,712
- Receivables within one year +€14,178
up €14,178 (+10.2%), from €139,231 to €153,409
of which Trade receivables: +€29,024
- Other debts +€50,287
up €50,287 (+12,047%), from €417 to €50,704
- Trade debts -€37,304
down €37,304 (-39.1%), from €95,471 to €58,167
- Tax, wage and social debts -€18,639
down €18,639 (-92.5%), from €20,157 to €1,518
- Reserves +€15,179
up €15,179 (+8.1%), from €187,509 to €202,688
- Debts after one year -€10,802
down €10,802 (-31.6%), from €34,177 to €23,375
- Gross operating margin -€43,368
down €43,368 (-31.6%), from €137,059 to €93,691
- Taxes -€32,489
down €32,489 (-80.9%), from €40,157 to €7,668
- Depreciation +€5,186
up €5,186 (+46.2%), from €11,222 to €16,408
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 | €354,391 | €353,490 | -€900 | -0.3% |
| Fixed assets | 21/28 | €57,763 | €42,372 | -€15,391 | -26.6% |
| Tangible fixed assets | 22/27 | €57,763 | €42,372 | -€15,391 | -26.6% |
| Plant, machinery and equipment | 23 | €12,931 | €9,252 | -€3,679 | -28.4% |
| Furniture and vehicles | 24 | €44,832 | €33,120 | -€11,712 | -26.1% |
| Current assets | 29/58 | €296,628 | €311,118 | +€14,490 | +4.9% |
| Amounts receivable within one year | 40/41 | €139,231 | €153,409 | +€14,178 | +10.2% |
| Trade receivables | 40 | €111,413 | €140,437 | +€29,024 | +26.1% |
| Other amounts receivable | 41 | €27,818 | €12,972 | -€14,846 | -53.4% |
| Cash at bank and in hand | 54/58 | €154,420 | €153,719 | -€700 | -0.5% |
| Deferred charges and accrued income | 490/1 | €2,977 | €3,990 | +€1,013 | +34.0% |
| Total equity and liabilities | 10/49 | €354,391 | €353,490 | -€900 | -0.3% |
| Equity | 10/15 | €193,709 | €208,888 | +€15,179 | +7.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €187,509 | €202,688 | +€15,179 | +8.1% |
| Distributable reserves | 133 | €187,509 | €202,688 | +€15,179 | +8.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €160,682 | €144,603 | -€16,079 | -10.0% |
| Amounts payable after more than one year | 17 | €34,177 | €23,375 | -€10,802 | -31.6% |
| Financial debts | 170/4 | €34,177 | €23,375 | -€10,802 | -31.6% |
| Amounts payable within one year | 42/48 | €126,468 | €121,191 | -€5,277 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €10,423 | €10,802 | +€379 | +3.6% |
| Trade debts | 44 | €95,471 | €58,167 | -€37,304 | -39.1% |
| Suppliers | 440/4 | €95,471 | €58,167 | -€37,304 | -39.1% |
| Taxes, remuneration and social security | 45 | €20,157 | €1,518 | -€18,639 | -92.5% |
| Taxes | 450/3 | €20,157 | €1,518 | -€18,639 | -92.5% |
| Other amounts payable | 47/48 | €417 | €50,704 | +€50,287 | +12,047% |
| Accrued charges and deferred income | 492/3 | €36 | €37 | +€0 | +0.9% |
| Non-recurring operating income | 76A | €8,298 | €131 | -€8,167 | -98.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,222 | €16,408 | +€5,186 | +46.2% |
| Other operating charges | 640/8 | €2,034 | €1,941 | -€93 | -4.6% |
| Non-recurring operating charges | 66A | €67 | €0 | -€67 | -100% |
| Gross operating margin | 9900 | €137,059 | €93,691 | -€43,368 | -31.6% |
| Operating profit (loss) | 9901 | €123,736 | €75,342 | -€48,394 | -39.1% |
| Financial income | 75/76B | €161 | €183 | +€22 | +13.8% |
| Recurring financial income | 75 | €161 | €183 | +€22 | +13.8% |
| Financial charges | 65/66B | €1,998 | €2,678 | +€679 | +34.0% |
| Recurring financial charges | 65 | €1,998 | €2,678 | +€679 | +34.0% |
| Profit (loss) for the period before taxes | 9903 | €121,898 | €72,847 | -€49,051 | -40.2% |
| Income taxes | 67/77 | €40,157 | €7,668 | -€32,489 | -80.9% |
| Profit (loss) for the period | 9904 | €81,741 | €65,179 | -€16,562 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €81,741 | €65,179 | -€16,562 | -20.3% |
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 26 October 2026 via checked.be.