Cathy Duchateau: what changed
Cathy Duchateau
Largest movements
- Receivables within one year +€7,754
new in 2025: €7,754
of which Trade receivables: +€7,660
- Receivables after one year -€3,549
no longer reported in 2025 (was €3,549)
- Cash -€3,525
down €3,525 (-21.4%), from €16,469 to €12,944
mainly Contributions, distributions and other (-€38,821) and Receivables within one year (-€7,754)
- Tangible fixed assets -€1,996
down €1,996 (-31.3%), from €6,371 to €4,375
of which Other tangible fixed assets: -€3,324
- Deferred charges and accrued income +€1,383
up €1,383 (+1,050%), from €132 to €1,515
- Reserves -€18,782
down €18,782 (-99.8%), from €18,821 to €39
- Other debts +€18,553
new in 2025: €18,553
- Trade debts +€4,999
up €4,999 (+502%), from €996 to €5,996
- Debts after one year -€2,540
no longer reported in 2025 (was €2,540)
- Tax, wage and social debts -€2,163
no longer reported in 2025 (was €2,163)
- Depreciation -€767
down €767 (-18.2%), from €4,212 to €3,445
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 | €26,521 | €26,588 | +€67 | +0.3% |
| Fixed assets | 21/28 | €6,371 | €4,375 | -€1,996 | -31.3% |
| Tangible fixed assets | 22/27 | €6,371 | €4,375 | -€1,996 | -31.3% |
| Plant, machinery and equipment | 23 | - | €1,328 | +€1,328 | |
| Other tangible fixed assets | 26 | €6,371 | €3,047 | -€3,324 | -52.2% |
| Current assets | 29/58 | €20,150 | €22,212 | +€2,063 | +10.2% |
| Amounts receivable after more than one year | 29 | €3,549 | - | -€3,549 | |
| Other amounts receivable | 291 | €3,549 | - | -€3,549 | |
| Amounts receivable within one year | 40/41 | - | €7,754 | +€7,754 | |
| Trade receivables | 40 | - | €7,660 | +€7,660 | |
| Other amounts receivable | 41 | - | €94 | +€94 | |
| Cash at bank and in hand | 54/58 | €16,469 | €12,944 | -€3,525 | -21.4% |
| Deferred charges and accrued income | 490/1 | €132 | €1,515 | +€1,383 | +1,050% |
| Total equity and liabilities | 10/49 | €26,521 | €26,588 | +€67 | +0.3% |
| Equity | 10/15 | €20,821 | €2,039 | -€18,782 | -90.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €18,821 | €39 | -€18,782 | -99.8% |
| Distributable reserves | 133 | €18,821 | €39 | -€18,782 | -99.8% |
| Amounts payable | 17/49 | €5,700 | €24,549 | +€18,849 | +331% |
| Amounts payable after more than one year | 17 | €2,540 | - | -€2,540 | |
| Financial debts | 170/4 | €2,540 | - | -€2,540 | |
| Amounts payable within one year | 42/48 | €3,159 | €24,549 | +€21,389 | +677% |
| Trade debts | 44 | €996 | €5,996 | +€4,999 | +502% |
| Suppliers | 440/4 | €996 | €5,996 | +€4,999 | +502% |
| Taxes, remuneration and social security | 45 | €2,163 | - | -€2,163 | |
| Taxes | 450/3 | €2,163 | - | -€2,163 | |
| Other amounts payable | 47/48 | - | €18,553 | +€18,553 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,212 | €3,445 | -€767 | -18.2% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €29,770 | €30,068 | +€297 | +1.0% |
| Operating profit (loss) | 9901 | €25,053 | €26,103 | +€1,050 | +4.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +500% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +500% |
| Financial charges | 65/66B | €69 | €158 | +€90 | +131% |
| Recurring financial charges | 65 | €69 | €158 | +€90 | +131% |
| Profit (loss) for the period before taxes | 9903 | €24,984 | €25,945 | +€961 | +3.8% |
| Income taxes | 67/77 | €6,163 | €5,906 | -€257 | -4.2% |
| Profit (loss) for the period | 9904 | €18,821 | €20,039 | +€1,218 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,821 | €20,039 | +€1,218 | +6.5% |
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 5 November 2026 via checked.be.