Brigitte HERMANS: 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.
Brigitte HERMANS
Largest movements
- Cash -€12,148
down €12,148 (-34.1%), from €35,639 to €23,491
mainly Other debts (-€10,282) and Tax, wage and social debts (-€3,512)
- Receivables within one year -€3,199
down €3,199 (-33.7%), from €9,479 to €6,280
of which Other amounts receivable: -€1,695
- Tangible fixed assets +€1,003
up €1,003 (+27.2%), from €3,688 to €4,691
- Other debts -€10,282
down €10,282 (-51.4%), from €20,000 to €9,718
- Tax, wage and social debts -€3,512
down €3,512 (-45.0%), from €7,805 to €4,293
- Gross operating margin -€24,021
down €24,021 (-73.8%), from €32,551 to €8,531
- Taxes -€6,026
down €6,026 (-68.8%), from €8,762 to €2,736
- Other operating charges -€359
down €359 (-48.6%), from €739 to €380
- Depreciation -€343
down €343 (-13.3%), from €2,579 to €2,236
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 | €48,806 | €34,461 | -€14,344 | -29.4% |
| Fixed assets | 21/28 | €3,688 | €4,691 | +€1,003 | +27.2% |
| Tangible fixed assets | 22/27 | €3,688 | €4,691 | +€1,003 | +27.2% |
| Furniture and vehicles | 24 | €3,688 | €4,691 | +€1,003 | +27.2% |
| Current assets | 29/58 | €45,118 | €29,771 | -€15,347 | -34.0% |
| Amounts receivable within one year | 40/41 | €9,479 | €6,280 | -€3,199 | -33.7% |
| Trade receivables | 40 | €7,783 | €6,280 | -€1,503 | -19.3% |
| Other amounts receivable | 41 | €1,695 | €0 | -€1,695 | -100% |
| Cash at bank and in hand | 54/58 | €35,639 | €23,491 | -€12,148 | -34.1% |
| Total equity and liabilities | 10/49 | €48,806 | €34,461 | -€14,344 | -29.4% |
| Equity | 10/15 | €19,308 | €18,900 | -€408 | -2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €298 | €298 | = | 0.0% |
| Distributable reserves | 133 | €298 | €298 | = | 0.0% |
| Profit (loss) carried forward | 14 | €409 | €1 | -€408 | -99.7% |
| Amounts payable | 17/49 | €29,498 | €15,562 | -€13,936 | -47.2% |
| Amounts payable within one year | 42/48 | €28,498 | €14,562 | -€13,936 | -48.9% |
| Trade debts | 44 | €693 | €551 | -€142 | -20.5% |
| Suppliers | 440/4 | €693 | €551 | -€142 | -20.5% |
| Taxes, remuneration and social security | 45 | €7,805 | €4,293 | -€3,512 | -45.0% |
| Taxes | 450/3 | €7,805 | €4,293 | -€3,512 | -45.0% |
| Other amounts payable | 47/48 | €20,000 | €9,718 | -€10,282 | -51.4% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,579 | €2,236 | -€343 | -13.3% |
| Other operating charges | 640/8 | €739 | €380 | -€359 | -48.6% |
| Gross operating margin | 9900 | €32,551 | €8,531 | -€24,021 | -73.8% |
| Operating profit (loss) | 9901 | €29,233 | €5,915 | -€23,319 | -79.8% |
| Financial income | 75/76B | €51 | €0 | -€51 | -100% |
| Recurring financial income | 75 | €51 | €0 | -€51 | -100% |
| Financial charges | 65/66B | €115 | €187 | +€72 | +62.1% |
| Recurring financial charges | 65 | €115 | €187 | +€72 | +62.1% |
| Profit (loss) for the period before taxes | 9903 | €29,170 | €5,728 | -€23,442 | -80.4% |
| Income taxes | 67/77 | €8,762 | €2,736 | -€6,026 | -68.8% |
| Profit (loss) for the period | 9904 | €20,408 | €2,992 | -€17,416 | -85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,408 | €2,992 | -€17,416 | -85.3% |
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.