Anne Wauters: what changed
Anne Wauters
Largest movements
- Cash +€22,118
up €22,118 (+57.5%), from €38,444 to €60,562
mainly Net result for the year (+€28,176) and Depreciation (+€3,178)
- Intangible fixed assets +€4,297
up €4,297 (+2,866%), from €150 to €4,446
- Stocks and contracts +€3,500
up €3,500 (+35.0%), from €10,000 to €13,500
- Receivables within one year -€2,885
down €2,885 (-16.4%), from €17,613 to €14,728
of which Trade receivables: -€4,189
- Tangible fixed assets -€1,836
down €1,836 (-49.6%), from €3,703 to €1,867
of which Other tangible fixed assets: -€1,164
- Reserves +€28,176
up €28,176 (+59.5%), from €47,359 to €75,535
- Trade debts -€4,089
down €4,089 (-30.1%), from €13,570 to €9,480
- Tax, wage and social debts +€2,453
up €2,453 (+56.5%), from €4,343 to €6,797
- Gross operating margin +€22,775
up €22,775 (+120%), from €19,027 to €41,802
- Taxes +€6,824
up €6,824 (+197%), from €3,471 to €10,295
- Depreciation +€1,011
up €1,011 (+46.6%), from €2,167 to €3,178
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 | €70,272 | €96,812 | +€26,540 | +37.8% |
| Fixed assets | 21/28 | €3,853 | €6,313 | +€2,461 | +63.9% |
| Intangible fixed assets | 21 | €150 | €4,446 | +€4,297 | +2,866% |
| Tangible fixed assets | 22/27 | €3,703 | €1,867 | -€1,836 | -49.6% |
| Plant, machinery and equipment | 23 | €973 | €302 | -€671 | -69.0% |
| Other tangible fixed assets | 26 | €2,730 | €1,565 | -€1,164 | -42.7% |
| Current assets | 29/58 | €66,419 | €90,498 | +€24,079 | +36.3% |
| Stocks and contracts in progress | 3 | €10,000 | €13,500 | +€3,500 | +35.0% |
| Stocks | 30/36 | €10,000 | €13,500 | +€3,500 | +35.0% |
| Amounts receivable within one year | 40/41 | €17,613 | €14,728 | -€2,885 | -16.4% |
| Trade receivables | 40 | €9,845 | €5,656 | -€4,189 | -42.6% |
| Other amounts receivable | 41 | €7,768 | €9,072 | +€1,304 | +16.8% |
| Cash at bank and in hand | 54/58 | €38,444 | €60,562 | +€22,118 | +57.5% |
| Deferred charges and accrued income | 490/1 | €362 | €1,708 | +€1,346 | +372% |
| Total equity and liabilities | 10/49 | €70,272 | €96,812 | +€26,540 | +37.8% |
| Equity | 10/15 | €52,359 | €80,535 | +€28,176 | +53.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,359 | €75,535 | +€28,176 | +59.5% |
| Distributable reserves | 133 | €47,359 | €75,535 | +€28,176 | +59.5% |
| Amounts payable | 17/49 | €17,913 | €16,277 | -€1,636 | -9.1% |
| Amounts payable within one year | 42/48 | €17,913 | €16,277 | -€1,636 | -9.1% |
| Trade debts | 44 | €13,570 | €9,480 | -€4,089 | -30.1% |
| Suppliers | 440/4 | €13,570 | €9,480 | -€4,089 | -30.1% |
| Taxes, remuneration and social security | 45 | €4,343 | €6,797 | +€2,453 | +56.5% |
| Taxes | 450/3 | €4,343 | €6,797 | +€2,453 | +56.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,167 | €3,178 | +€1,011 | +46.6% |
| Other operating charges | 640/8 | €601 | €618 | +€18 | +2.9% |
| Gross operating margin | 9900 | €19,027 | €41,802 | +€22,775 | +120% |
| Operating profit (loss) | 9901 | €16,259 | €38,005 | +€21,746 | +134% |
| Financial income | 75/76B | €292 | €577 | +€285 | +97.5% |
| Recurring financial income | 75 | €292 | €577 | +€285 | +97.5% |
| Financial charges | 65/66B | €191 | €111 | -€80 | -42.0% |
| Recurring financial charges | 65 | €191 | €111 | -€80 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | €16,360 | €38,471 | +€22,111 | +135% |
| Income taxes | 67/77 | €3,471 | €10,295 | +€6,824 | +197% |
| Profit (loss) for the period | 9904 | €12,888 | €28,176 | +€15,288 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €12,888 | €28,176 | +€15,288 | +119% |
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 4 November 2026 via checked.be.