ANJA VERMOORTEL: 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.
ANJA VERMOORTEL
Largest movements
- Receivables within one year -€56,986
down €56,986 (-64.5%), from €88,301 to €31,315
of which Trade receivables: -€59,622
- Receivables after one year +€28,890
new in 2025: €28,890
- Cash +€18,701
up €18,701 (+18.5%), from €101,079 to €119,780
mainly Receivables within one year (+€56,986) and Investment in fixed assets (net) (+€10,000)
- Financial fixed assets -€10,000
down €10,000 (-24.5%), from €40,800 to €30,800
- Reserves -€20,712
down €20,712 (-10.5%), from €197,088 to €176,376
of which Distributable reserves: -€20,712
- Gross operating margin -€7,516
down €7,516 (-489%), from -€1,537 to -€9,053
- Other operating charges +€1,963
up €1,963 (+262%), from €750 to €2,713
- Financial income -€442
down €442 (-18.0%), from €2,457 to €2,015
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 | €238,323 | €218,543 | -€19,780 | -8.3% |
| Fixed assets | 21/28 | €47,694 | €36,425 | -€11,268 | -23.6% |
| Tangible fixed assets | 22/27 | €6,894 | €5,625 | -€1,268 | -18.4% |
| Furniture and vehicles | 24 | €699 | €374 | -€325 | -46.4% |
| Other tangible fixed assets | 26 | €6,194 | €5,251 | -€943 | -15.2% |
| Financial fixed assets | 28 | €40,800 | €30,800 | -€10,000 | -24.5% |
| Current assets | 29/58 | €190,629 | €182,117 | -€8,512 | -4.5% |
| Amounts receivable after more than one year | 29 | - | €28,890 | +€28,890 | |
| Other amounts receivable | 291 | - | €28,890 | +€28,890 | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €88,301 | €31,315 | -€56,986 | -64.5% |
| Trade receivables | 40 | €61,437 | €1,815 | -€59,622 | -97.0% |
| Other amounts receivable | 41 | €26,864 | €29,500 | +€2,636 | +9.8% |
| Cash at bank and in hand | 54/58 | €101,079 | €119,780 | +€18,701 | +18.5% |
| Deferred charges and accrued income | 490/1 | €1,250 | €2,133 | +€883 | +70.6% |
| Total equity and liabilities | 10/49 | €238,323 | €218,543 | -€19,780 | -8.3% |
| Equity | 10/15 | €235,088 | €214,376 | -€20,712 | -8.8% |
| Contributions | 10/11 | €38,000 | €38,000 | = | 0.0% |
| Reserves | 13 | €197,088 | €176,376 | -€20,712 | -10.5% |
| Tax-exempt reserves | 132 | €669 | €669 | = | 0.0% |
| Distributable reserves | 133 | €196,419 | €175,707 | -€20,712 | -10.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,235 | €4,167 | +€932 | +28.8% |
| Amounts payable within one year | 42/48 | €3,235 | €4,167 | +€932 | +28.8% |
| Trade debts | 44 | €0 | €296 | +€296 | |
| Suppliers | 440/4 | €0 | €296 | +€296 | |
| Taxes, remuneration and social security | 45 | €3,235 | €2,879 | -€356 | -11.0% |
| Taxes | 450/3 | €3,235 | €2,879 | -€356 | -11.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €992 | +€992 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,270 | €1,268 | -€1 | -0.1% |
| Other operating charges | 640/8 | €750 | €2,713 | +€1,963 | +262% |
| Gross operating margin | 9900 | -€1,537 | -€9,053 | -€7,516 | -489% |
| Operating profit (loss) | 9901 | -€3,556 | -€13,034 | -€9,477 | -266% |
| Financial income | 75/76B | €2,457 | €2,015 | -€442 | -18.0% |
| Recurring financial income | 75 | €2,457 | €2,015 | -€442 | -18.0% |
| Financial charges | 65/66B | €716 | €651 | -€66 | -9.1% |
| Recurring financial charges | 65 | €716 | €651 | -€66 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,815 | -€11,669 | -€9,854 | -543% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€1,815 | -€11,669 | -€9,854 | -543% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,815 | -€11,669 | -€9,854 | -543% |
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 29 October 2026 via checked.be.