Benoît Loffet: 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.
Benoît Loffet
Largest movements
- Current investments +€162,000
new in 2025: €162,000
- Cash -€125,341
down €125,341 (-76.2%), from €164,490 to €39,149
mainly Current investments (-€162,000) and Contributions, distributions and other (-€51,031)
- Receivables within one year +€9,934
up €9,934 (+90.3%), from €10,995 to €20,929
of which Trade receivables: +€9,571
- Other debts +€42,424
up €42,424 (+4455.3%), from €952 to €43,376
- Profit (loss) carried forward +€12,237
up €12,237 (+24.0%), from €51,031 to €63,267
- Tax, wage and social debts -€8,108
down €8,108 (-40.7%), from €19,928 to €11,820
- Gross operating margin +€13,326
up €13,326 (+19.7%), from €67,721 to €81,047
- Taxes +€3,027
up €3,027 (+22.8%), from €13,281 to €16,308
- Financial income +€1,772
up €1,772 (+6563.9%), from €27 to €1,799
of which Financial income: +€1,770
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.
Cash bridge derived
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 | €180,367 | €225,842 | +€45,475 | +25.2% |
| Fixed assets | 21/28 | €3,760 | €2,593 | -€1,166 | -31.0% |
| Tangible fixed assets | 22/27 | €3,760 | €2,593 | -€1,166 | -31.0% |
| Furniture and vehicles | 24 | €1,586 | €1,165 | -€421 | -26.6% |
| Other tangible fixed assets | 26 | €2,173 | €1,428 | -€745 | -34.3% |
| Current assets | 29/58 | €176,607 | €223,249 | +€46,642 | +26.4% |
| Amounts receivable within one year | 40/41 | €10,995 | €20,929 | +€9,934 | +90.3% |
| Trade receivables | 40 | €10,995 | €20,567 | +€9,571 | +87.0% |
| Other amounts receivable | 41 | - | €363 | +€363 | |
| Current investments | 50/53 | - | €162,000 | +€162,000 | |
| Cash at bank and in hand | 54/58 | €164,490 | €39,149 | -€125,341 | -76.2% |
| Deferred charges and accrued income | 490/1 | €1,122 | €1,171 | +€49 | +4.3% |
| Total equity and liabilities | 10/49 | €180,367 | €225,842 | +€45,475 | +25.2% |
| Equity | 10/15 | €157,529 | €169,765 | +€12,237 | +7.8% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €94,498 | €94,498 | = | 0.0% |
| Distributable reserves | 133 | €94,498 | €94,498 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,031 | €63,267 | +€12,237 | +24.0% |
| Amounts payable | 17/49 | €22,838 | €56,077 | +€33,239 | +145.5% |
| Amounts payable within one year | 42/48 | €22,838 | €56,077 | +€33,239 | +145.5% |
| Trade debts | 44 | €1,958 | €881 | -€1,077 | -55.0% |
| Suppliers | 440/4 | €1,958 | €881 | -€1,077 | -55.0% |
| Taxes, remuneration and social security | 45 | €19,928 | €11,820 | -€8,108 | -40.7% |
| Taxes | 450/3 | €19,928 | €11,820 | -€8,108 | -40.7% |
| Other amounts payable | 47/48 | €952 | €43,376 | +€42,424 | +4455.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,166 | €1,166 | +€0 | 0.0% |
| Other operating charges | 640/8 | - | €102 | +€102 | |
| Gross operating margin | 9900 | €67,721 | €81,047 | +€13,326 | +19.7% |
| Operating profit (loss) | 9901 | €66,554 | €79,778 | +€13,224 | +19.9% |
| Financial income | 75/76B | €27 | €1,799 | +€1,772 | +6563.9% |
| Recurring financial income | 75 | €27 | €1,797 | +€1,770 | +6554.3% |
| Non-recurring financial income | 76B | €27 | €3 | -€24 | -90.4% |
| Financial charges | 65/66B | €2,270 | €2,002 | -€268 | -11.8% |
| Recurring financial charges | 65 | €2,261 | €1,994 | -€267 | -11.8% |
| Non-recurring financial charges | 66B | €9 | €8 | -€1 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €64,311 | €79,575 | +€15,264 | +23.7% |
| Income taxes | 67/77 | €13,281 | €16,308 | +€3,027 | +22.8% |
| Profit (loss) for the period | 9904 | €51,031 | €63,267 | +€12,237 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,031 | €63,267 | +€12,237 | +24.0% |
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 10 October 2026 via checked.be.