A. De Coninck: 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.
A. De Coninck
Largest movements
- Receivables within one year +€51,924
up €51,924 (+448%), from €11,592 to €63,516
of which Other amounts receivable: +€52,353
- Cash -€12,859
down €12,859 (-57.3%), from €22,451 to €9,592
mainly Receivables within one year (-€51,924) and Contributions, distributions and other (-€27,000)
- Tangible fixed assets -€1,710
down €1,710 (-55.2%), from €3,098 to €1,388
of which Furniture and vehicles: -€1,447
- Deferred charges and accrued income +€1,121
new in 2025: €1,121
- Other debts +€27,000
new in 2025: €27,000
- Tax, wage and social debts +€10,562
up €10,562 (+10,546%), from €100 to €10,662
- Reserves +€886
up €886 (+5.4%), from €16,436 to €17,322
of which Distributable reserves: +€886
- Gross operating margin +€20,337
up €20,337 (+108%), from €18,893 to €39,230
- Taxes +€10,453
up €10,453 (+9,585%), from €109 to €10,562
- Financial income +€1,619
new in 2025: €1,619
- Depreciation -€425
down €425 (-19.9%), from €2,135 to €1,710
- Other operating charges -€406
down €406 (-44.5%), from €913 to €507
From the 2024 result to the 2025 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 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,141 | €75,617 | +€38,476 | +104% |
| Fixed assets | 21/28 | €3,098 | €1,388 | -€1,710 | -55.2% |
| Tangible fixed assets | 22/27 | €3,098 | €1,388 | -€1,710 | -55.2% |
| Plant, machinery and equipment | 23 | €487 | €224 | -€263 | -54.0% |
| Furniture and vehicles | 24 | €2,611 | €1,164 | -€1,447 | -55.4% |
| Current assets | 29/58 | €34,043 | €74,229 | +€40,186 | +118% |
| Amounts receivable within one year | 40/41 | €11,592 | €63,516 | +€51,924 | +448% |
| Trade receivables | 40 | €7,599 | €7,170 | -€429 | -5.6% |
| Other amounts receivable | 41 | €3,993 | €56,346 | +€52,353 | +1,311% |
| Cash at bank and in hand | 54/58 | €22,451 | €9,592 | -€12,859 | -57.3% |
| Deferred charges and accrued income | 490/1 | - | €1,121 | +€1,121 | |
| Total equity and liabilities | 10/49 | €37,141 | €75,617 | +€38,476 | +104% |
| Equity | 10/15 | €35,036 | €35,922 | +€886 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €16,436 | €17,322 | +€886 | +5.4% |
| Non-distributable reserves | 130/1 | €715 | €715 | = | 0.0% |
| Reserves not available under the articles | 1311 | €715 | €715 | = | 0.0% |
| Distributable reserves | 133 | €15,721 | €16,607 | +€886 | +5.6% |
| Amounts payable | 17/49 | €2,105 | €39,695 | +€37,590 | +1,786% |
| Amounts payable within one year | 42/48 | €2,105 | €39,695 | +€37,590 | +1,786% |
| Trade debts | 44 | €2,005 | €2,033 | +€28 | +1.4% |
| Suppliers | 440/4 | €2,005 | €2,033 | +€28 | +1.4% |
| Taxes, remuneration and social security | 45 | €100 | €10,662 | +€10,562 | +10,546% |
| Taxes | 450/3 | €100 | €10,662 | +€10,562 | +10,546% |
| Other amounts payable | 47/48 | - | €27,000 | +€27,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,135 | €1,710 | -€425 | -19.9% |
| Other operating charges | 640/8 | €913 | €507 | -€406 | -44.5% |
| Gross operating margin | 9900 | €18,893 | €39,230 | +€20,337 | +108% |
| Operating profit (loss) | 9901 | €15,845 | €37,013 | +€21,168 | +134% |
| Financial income | 75/76B | - | €1,619 | +€1,619 | |
| Recurring financial income | 75 | - | €1,619 | +€1,619 | |
| Financial charges | 65/66B | €166 | €184 | +€18 | +10.8% |
| Recurring financial charges | 65 | €166 | €184 | +€18 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €15,679 | €38,448 | +€22,769 | +145% |
| Income taxes | 67/77 | €109 | €10,562 | +€10,453 | +9,585% |
| Profit (loss) for the period | 9904 | €15,570 | €27,886 | +€12,316 | +79.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,570 | €27,886 | +€12,316 | +79.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.