André MINEUR, Avocat: what changed
André MINEUR, Avocat
Largest movements
- Receivables within one year +€50,016
up €50,016 (+34.6%), from €144,377 to €194,394
of which Other amounts receivable: +€47,942
- Tangible fixed assets -€11,778
down €11,778 (-20.2%), from €58,202 to €46,424
of which Furniture and vehicles: -€10,935
- Reserves +€37,855
up €37,855 (+15.5%), from €243,855 to €281,710
- Tax, wage and social debts +€14,265
up €14,265 (+87.4%), from €16,329 to €30,594
- Debts after one year -€7,387
down €7,387 (-32.4%), from €22,826 to €15,439
- Trade debts -€6,783
down €6,783 (-97.5%), from €6,957 to €174
- Financial income -€8,817
down €8,817 (-79.0%), from €11,161 to €2,344
- Gross operating margin -€8,670
down €8,670 (-10.6%), from €81,577 to €72,907
- Depreciation +€8,511
up €8,511 (+261%), from €3,267 to €11,778
- Taxes -€6,989
down €6,989 (-24.6%), from €28,402 to €21,413
- Other operating charges +€2,249
up €2,249 (+218%), from €1,034 to €3,282
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €310,595 | €348,758 | +€38,163 | +12.3% |
| Fixed assets | 21/28 | €58,202 | €46,424 | -€11,778 | -20.2% |
| Tangible fixed assets | 22/27 | €58,202 | €46,424 | -€11,778 | -20.2% |
| Furniture and vehicles | 24 | €50,980 | €40,045 | -€10,935 | -21.4% |
| Other tangible fixed assets | 26 | €7,222 | €6,379 | -€843 | -11.7% |
| Current assets | 29/58 | €252,393 | €302,334 | +€49,941 | +19.8% |
| Amounts receivable within one year | 40/41 | €144,377 | €194,394 | +€50,016 | +34.6% |
| Trade receivables | 40 | €16,481 | €18,555 | +€2,074 | +12.6% |
| Other amounts receivable | 41 | €127,896 | €175,839 | +€47,942 | +37.5% |
| Current investments | 50/53 | €93,390 | €93,390 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,099 | €13,681 | +€582 | +4.4% |
| Deferred charges and accrued income | 490/1 | €1,527 | €870 | -€657 | -43.1% |
| Total equity and liabilities | 10/49 | €310,595 | €348,758 | +€38,163 | +12.3% |
| Equity | 10/15 | €257,309 | €295,164 | +€37,855 | +14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €243,855 | €281,710 | +€37,855 | +15.5% |
| Distributable reserves | 133 | €243,855 | €281,710 | +€37,855 | +15.5% |
| Profit (loss) carried forward | 14 | €1,054 | €1,054 | = | 0.0% |
| Amounts payable | 17/49 | €53,286 | €53,594 | +€308 | +0.6% |
| Amounts payable after more than one year | 17 | €22,826 | €15,439 | -€7,387 | -32.4% |
| Financial debts | 170/4 | €22,826 | €15,439 | -€7,387 | -32.4% |
| Amounts payable within one year | 42/48 | €30,460 | €38,155 | +€7,695 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €7,174 | €7,387 | +€213 | +3.0% |
| Trade debts | 44 | €6,957 | €174 | -€6,783 | -97.5% |
| Suppliers | 440/4 | €6,957 | €174 | -€6,783 | -97.5% |
| Taxes, remuneration and social security | 45 | €16,329 | €30,594 | +€14,265 | +87.4% |
| Taxes | 450/3 | €16,329 | €30,594 | +€14,265 | +87.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,267 | €11,778 | +€8,511 | +261% |
| Other operating charges | 640/8 | €1,034 | €3,282 | +€2,249 | +218% |
| Gross operating margin | 9900 | €81,577 | €72,907 | -€8,670 | -10.6% |
| Operating profit (loss) | 9901 | €77,276 | €57,846 | -€19,430 | -25.1% |
| Financial income | 75/76B | €11,161 | €2,344 | -€8,817 | -79.0% |
| Recurring financial income | 75 | €11,161 | €2,344 | -€8,817 | -79.0% |
| Financial charges | 65/66B | €530 | €922 | +€391 | +73.8% |
| Recurring financial charges | 65 | €530 | €922 | +€391 | +73.8% |
| Profit (loss) for the period before taxes | 9903 | €87,907 | €59,268 | -€28,639 | -32.6% |
| Income taxes | 67/77 | €28,402 | €21,413 | -€6,989 | -24.6% |
| Profit (loss) for the period | 9904 | €59,505 | €37,855 | -€21,650 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,505 | €37,855 | -€21,650 | -36.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.