Cedric Bocqué: what changed
Two fiscal 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.
Cedric Bocqué
Largest movements
- Cash +€72,427
up €72,427 (+71.0%), from €101,939 to €174,366
mainly Net result for the year (+€130,157) and Tax, wage and social debts (+€40,322)
- Receivables after one year -€27,792
down €27,792 (-100.0%), from €27,792 to €0
- Receivables within one year -€25,221
down €25,221 (-40.2%), from €62,708 to €37,487
of which Trade receivables: -€24,441
- Tangible fixed assets +€2,904
new in 2025: €2,904
- Tax, wage and social debts +€40,322
up €40,322 (+193.1%), from €20,877 to €61,199
of which Taxes: +€39,145
- Trade debts -€21,483
down €21,483 (-82.9%), from €25,929 to €4,446
- Reserves +€6,018
up €6,018 (+17.6%), from €34,139 to €40,157
- Other debts +€5,518
up €5,518 (+5.5%), from €100,000 to €105,518
- Current portion of long-term debt -€4,555
down €4,555 (-100.0%), from €4,555 to €0
- Depreciation -€4,387
down €4,387 (-96.4%), from €4,552 to €165
- Gross operating margin +€3,879
up €3,879 (+2.3%), from €165,674 to €169,553
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 | €192,443 | €214,757 | +€22,314 | +11.6% |
| Fixed assets | 21/28 | - | €2,904 | +€2,904 | |
| Tangible fixed assets | 22/27 | - | €2,904 | +€2,904 | |
| Furniture and vehicles | 24 | - | €2,904 | +€2,904 | |
| Current assets | 29/58 | €192,443 | €211,853 | +€19,409 | +10.1% |
| Amounts receivable after more than one year | 29 | €27,792 | €0 | -€27,792 | -100.0% |
| Other amounts receivable | 291 | €27,792 | €0 | -€27,792 | -100.0% |
| Amounts receivable within one year | 40/41 | €62,708 | €37,487 | -€25,221 | -40.2% |
| Trade receivables | 40 | €60,729 | €36,288 | -€24,441 | -40.2% |
| Other amounts receivable | 41 | €1,979 | €1,199 | -€780 | -39.4% |
| Cash at bank and in hand | 54/58 | €101,939 | €174,366 | +€72,427 | +71.0% |
| Deferred charges and accrued income | 490/1 | €5 | - | -€5 | |
| Total equity and liabilities | 10/49 | €192,443 | €214,757 | +€22,314 | +11.6% |
| Equity | 10/15 | €37,139 | €43,157 | +€6,018 | +16.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €34,139 | €40,157 | +€6,018 | +17.6% |
| Distributable reserves | 133 | €34,139 | €40,157 | +€6,018 | +17.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €155,304 | €171,600 | +€16,296 | +10.5% |
| Amounts payable within one year | 42/48 | €151,361 | €171,162 | +€19,801 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €4,555 | €0 | -€4,555 | -100.0% |
| Trade debts | 44 | €25,929 | €4,446 | -€21,483 | -82.9% |
| Suppliers | 440/4 | €25,929 | €4,446 | -€21,483 | -82.9% |
| Taxes, remuneration and social security | 45 | €20,877 | €61,199 | +€40,322 | +193.1% |
| Taxes | 450/3 | €18,759 | €57,904 | +€39,145 | +208.7% |
| Remuneration and social security | 454/9 | €2,118 | €3,294 | +€1,177 | +55.6% |
| Other amounts payable | 47/48 | €100,000 | €105,518 | +€5,518 | +5.5% |
| Accrued charges and deferred income | 492/3 | €3,944 | €438 | -€3,506 | -88.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,552 | €165 | -€4,387 | -96.4% |
| Other operating charges | 640/8 | €534 | €462 | -€73 | -13.6% |
| Gross operating margin | 9900 | €165,674 | €169,553 | +€3,879 | +2.3% |
| Operating profit (loss) | 9901 | €160,588 | €168,926 | +€8,338 | +5.2% |
| Financial income | 75/76B | €672 | €94 | -€578 | -86.0% |
| Recurring financial income | 75 | €672 | €94 | -€578 | -86.0% |
| Financial charges | 65/66B | €278 | €247 | -€31 | -11.1% |
| Recurring financial charges | 65 | €278 | €247 | -€31 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €160,982 | €168,773 | +€7,791 | +4.8% |
| Income taxes | 67/77 | €38,759 | €38,616 | -€143 | -0.4% |
| Profit (loss) for the period | 9904 | €122,223 | €130,157 | +€7,934 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €122,223 | €130,157 | +€7,934 | +6.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.