Anouk Maes: 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.
Anouk Maes
Largest movements
- Cash -€16,226
down €16,226 (-22.9%), from €70,840 to €54,615
mainly Contributions, distributions and other (-€144,364) and Debts after one year (-€27,932)
- Receivables within one year -€13,698
down €13,698 (-40.7%), from €33,624 to €19,926
of which Trade receivables: -€9,666
- Tangible fixed assets -€7,321
down €7,321 (-19.4%), from €37,760 to €30,439
of which Furniture and vehicles: -€6,150
- Deferred charges and accrued income -€3,653
down €3,653 (-72.6%), from €5,031 to €1,378
- Profit (loss) carried forward -€80,543
down €80,543 (-100%), from €80,543 to €0
- Other debts +€63,991
up €63,991 (+338%), from €18,952 to €82,943
- Debts after one year -€27,932
down €27,932 (-52.3%), from €53,364 to €25,432
- Trade debts +€3,506
up €3,506 (+619%), from €567 to €4,073
- Financial income -€16,426
down €16,426 (-63.1%), from €26,042 to €9,616
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 | €302,255 | €261,357 | -€40,898 | -13.5% |
| Fixed assets | 21/28 | €192,760 | €185,439 | -€7,321 | -3.8% |
| Tangible fixed assets | 22/27 | €37,760 | €30,439 | -€7,321 | -19.4% |
| Land and buildings | 22 | €3,983 | €3,439 | -€544 | -13.7% |
| Plant, machinery and equipment | 23 | €2,522 | €1,895 | -€627 | -24.9% |
| Furniture and vehicles | 24 | €31,255 | €25,105 | -€6,150 | -19.7% |
| Financial fixed assets | 28 | €155,000 | €155,000 | = | 0.0% |
| Current assets | 29/58 | €109,495 | €75,918 | -€33,577 | -30.7% |
| Amounts receivable within one year | 40/41 | €33,624 | €19,926 | -€13,698 | -40.7% |
| Trade receivables | 40 | €23,624 | €13,958 | -€9,666 | -40.9% |
| Other amounts receivable | 41 | €10,000 | €5,968 | -€4,032 | -40.3% |
| Cash at bank and in hand | 54/58 | €70,840 | €54,615 | -€16,226 | -22.9% |
| Deferred charges and accrued income | 490/1 | €5,031 | €1,378 | -€3,653 | -72.6% |
| Total equity and liabilities | 10/49 | €302,255 | €261,357 | -€40,898 | -13.5% |
| Equity | 10/15 | €187,071 | €106,528 | -€80,543 | -43.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €101,528 | €101,528 | = | 0.0% |
| Distributable reserves | 133 | €101,528 | €101,528 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,543 | €0 | -€80,543 | -100% |
| Amounts payable | 17/49 | €115,183 | €154,829 | +€39,646 | +34.4% |
| Amounts payable after more than one year | 17 | €53,364 | €25,432 | -€27,932 | -52.3% |
| Financial debts | 170/4 | €53,364 | €25,432 | -€27,932 | -52.3% |
| Amounts payable within one year | 42/48 | €60,345 | €126,242 | +€65,898 | +109% |
| Current portion of amounts payable after more than one year | 42 | €27,342 | €27,857 | +€515 | +1.9% |
| Financial debts | 43 | €1,283 | €0 | -€1,283 | -100% |
| Credit institutions | 430/8 | €1,283 | €0 | -€1,283 | -100% |
| Trade debts | 44 | €567 | €4,073 | +€3,506 | +619% |
| Suppliers | 440/4 | €567 | €4,073 | +€3,506 | +619% |
| Taxes, remuneration and social security | 45 | €12,202 | €11,371 | -€831 | -6.8% |
| Taxes | 450/3 | €12,202 | €11,371 | -€831 | -6.8% |
| Other amounts payable | 47/48 | €18,952 | €82,943 | +€63,991 | +338% |
| Accrued charges and deferred income | 492/3 | €1,475 | €3,155 | +€1,680 | +114% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,681 | €10,004 | +€322 | +3.3% |
| Other operating charges | 640/8 | €755 | €713 | -€42 | -5.6% |
| Gross operating margin | 9900 | €88,142 | €87,296 | -€847 | -1.0% |
| Operating profit (loss) | 9901 | €77,705 | €76,579 | -€1,127 | -1.5% |
| Financial income | 75/76B | €26,042 | €9,616 | -€16,426 | -63.1% |
| Recurring financial income | 75 | €26,042 | €9,616 | -€16,426 | -63.1% |
| Financial charges | 65/66B | €3,584 | €2,763 | -€821 | -22.9% |
| Recurring financial charges | 65 | €3,584 | €2,763 | -€821 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €100,164 | €83,431 | -€16,732 | -16.7% |
| Income taxes | 67/77 | €19,620 | €19,610 | -€10 | 0.0% |
| Profit (loss) for the period | 9904 | €80,543 | €63,821 | -€16,723 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,543 | €63,821 | -€16,723 | -20.8% |
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 15 October 2026 via checked.be.