Adelheid De Rouck: 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.
Adelheid De Rouck
Largest movements
- Current investments +€69,464
up €69,464 (+24.7%), from €281,387 to €350,852
- Cash +€12,230
up €12,230 (+101%), from €12,102 to €24,332
mainly Net result for the year (+€53,727) and Other debts (+€28,919)
- Receivables within one year +€4,750
up €4,750 (+96.0%), from €4,950 to €9,700
- Reserves +€53,727
up €53,727 (+20.0%), from €268,531 to €322,259
of which Distributable reserves: +€53,727
- Other debts +€28,919
up €28,919 (+112%), from €25,836 to €54,755
- Financial charges +€16,066
up €16,066 (+92.4%), from -€17,390 to -€1,324
- Financial income +€3,089
up €3,089 (+166%), from €1,863 to €4,952
- Gross operating margin -€1,658
down €1,658 (-2.1%), from €77,383 to €75,726
- Taxes -€1,496
down €1,496 (-5.6%), from €26,641 to €25,146
- Depreciation -€967
down €967 (-34.2%), from €2,824 to €1,857
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 | €309,251 | €393,351 | +€84,100 | +27.2% |
| Fixed assets | 21/28 | €10,176 | €8,319 | -€1,857 | -18.3% |
| Tangible fixed assets | 22/27 | €10,176 | €8,319 | -€1,857 | -18.3% |
| Plant, machinery and equipment | 23 | €160 | €0 | -€160 | -100% |
| Furniture and vehicles | 24 | €569 | €456 | -€112 | -19.8% |
| Other tangible fixed assets | 26 | €9,447 | €7,862 | -€1,585 | -16.8% |
| Current assets | 29/58 | €299,075 | €385,032 | +€85,957 | +28.7% |
| Amounts receivable within one year | 40/41 | €4,950 | €9,700 | +€4,750 | +96.0% |
| Other amounts receivable | 41 | €4,950 | €9,700 | +€4,750 | +96.0% |
| Current investments | 50/53 | €281,387 | €350,852 | +€69,464 | +24.7% |
| Cash at bank and in hand | 54/58 | €12,102 | €24,332 | +€12,230 | +101% |
| Deferred charges and accrued income | 490/1 | €635 | €148 | -€487 | -76.6% |
| Total equity and liabilities | 10/49 | €309,251 | €393,351 | +€84,100 | +27.2% |
| Equity | 10/15 | €274,736 | €328,464 | +€53,727 | +19.6% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €268,531 | €322,259 | +€53,727 | +20.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €268,531 | €322,259 | +€53,727 | +20.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,515 | €64,887 | +€30,373 | +88.0% |
| Amounts payable within one year | 42/48 | €34,515 | €64,887 | +€30,373 | +88.0% |
| Trade debts | 44 | €2,046 | €4,759 | +€2,713 | +133% |
| Suppliers | 440/4 | €2,046 | €4,759 | +€2,713 | +133% |
| Taxes, remuneration and social security | 45 | €6,632 | €5,373 | -€1,260 | -19.0% |
| Taxes | 450/3 | €6,632 | €5,373 | -€1,260 | -19.0% |
| Other amounts payable | 47/48 | €25,836 | €54,755 | +€28,919 | +112% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,824 | €1,857 | -€967 | -34.2% |
| Other operating charges | 640/8 | €846 | €1,271 | +€425 | +50.2% |
| Gross operating margin | 9900 | €77,383 | €75,726 | -€1,658 | -2.1% |
| Operating profit (loss) | 9901 | €73,713 | €72,597 | -€1,115 | -1.5% |
| Financial income | 75/76B | €1,863 | €4,952 | +€3,089 | +166% |
| Recurring financial income | 75 | €1,863 | €4,952 | +€3,089 | +166% |
| Financial charges | 65/66B | -€17,390 | -€1,324 | +€16,066 | +92.4% |
| Recurring financial charges | 65 | -€17,390 | -€1,324 | +€16,066 | +92.4% |
| Profit (loss) for the period before taxes | 9903 | €92,965 | €78,873 | -€14,092 | -15.2% |
| Income taxes | 67/77 | €26,641 | €25,146 | -€1,496 | -5.6% |
| Profit (loss) for the period | 9904 | €66,324 | €53,727 | -€12,597 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €66,324 | €53,727 | -€12,597 | -19.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.