CELINE MAERTENS: 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.
CELINE MAERTENS
Largest movements
- Deferred charges and accrued income -€12,814
down €12,814 (-80.5%), from €15,924 to €3,110
- Cash -€11,539
down €11,539 (-92.8%), from €12,431 to €892
mainly Contributions, distributions and other (-€38,000)
- Receivables within one year -€4,669
down €4,669 (-21.0%), from €22,218 to €17,548
of which Other amounts receivable: -€17,064
- Reserves -€23,912
down €23,912 (-77.9%), from €30,696 to €6,784
- Contributions -€9,191
down €9,191 (-93.9%), from €9,793 to €602
- Trade debts +€2,603
up €2,603 (+85.7%), from €3,037 to €5,640
- Tax, wage and social debts +€634
up €634 (+7.4%), from €8,538 to €9,172
- Gross operating margin -€13,536
down €13,536 (-40.4%), from €33,491 to €19,956
- Other operating charges +€1,044
up €1,044 (+25.4%), from €4,103 to €5,146
- Financial income -€609
down €609 (-70.4%), from €866 to €257
- Taxes +€527
up €527 (+6.8%), from €7,715 to €8,242
- Depreciation -€478
down €478 (-56.8%), from €843 to €364
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 | €52,065 | €22,679 | -€29,386 | -56.4% |
| Fixed assets | 21/28 | €1,493 | €1,129 | -€364 | -24.4% |
| Tangible fixed assets | 22/27 | €893 | €529 | -€364 | -40.8% |
| Plant, machinery and equipment | 23 | €166 | €0 | -€166 | -100% |
| Furniture and vehicles | 24 | €727 | €529 | -€198 | -27.3% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €50,572 | €21,550 | -€29,022 | -57.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €22,218 | €17,548 | -€4,669 | -21.0% |
| Trade receivables | 40 | €0 | €12,394 | +€12,394 | |
| Other amounts receivable | 41 | €22,218 | €5,154 | -€17,064 | -76.8% |
| Cash at bank and in hand | 54/58 | €12,431 | €892 | -€11,539 | -92.8% |
| Deferred charges and accrued income | 490/1 | €15,924 | €3,110 | -€12,814 | -80.5% |
| Total equity and liabilities | 10/49 | €52,065 | €22,679 | -€29,386 | -56.4% |
| Equity | 10/15 | €40,490 | €7,387 | -€33,103 | -81.8% |
| Contributions | 10/11 | €9,793 | €602 | -€9,191 | -93.9% |
| Reserves | 13 | €30,696 | €6,784 | -€23,912 | -77.9% |
| Distributable reserves | 133 | €30,696 | €6,784 | -€23,912 | -77.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €11,575 | €15,292 | +€3,717 | +32.1% |
| Amounts payable within one year | 42/48 | €11,575 | €14,812 | +€3,237 | +28.0% |
| Trade debts | 44 | €3,037 | €5,640 | +€2,603 | +85.7% |
| Suppliers | 440/4 | €3,037 | €5,640 | +€2,603 | +85.7% |
| Taxes, remuneration and social security | 45 | €8,538 | €9,172 | +€634 | +7.4% |
| Taxes | 450/3 | €8,538 | €9,172 | +€634 | +7.4% |
| Accrued charges and deferred income | 492/3 | - | €480 | +€480 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €843 | €364 | -€478 | -56.8% |
| Other operating charges | 640/8 | €4,103 | €5,146 | +€1,044 | +25.4% |
| Gross operating margin | 9900 | €33,491 | €19,956 | -€13,536 | -40.4% |
| Operating profit (loss) | 9901 | €28,546 | €14,445 | -€14,101 | -49.4% |
| Financial income | 75/76B | €866 | €257 | -€609 | -70.4% |
| Recurring financial income | 75 | €866 | €257 | -€609 | -70.4% |
| Financial charges | 65/66B | €1,224 | €1,563 | +€339 | +27.7% |
| Recurring financial charges | 65 | €1,224 | €1,563 | +€339 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | €28,188 | €13,139 | -€15,049 | -53.4% |
| Income taxes | 67/77 | €7,715 | €8,242 | +€527 | +6.8% |
| Profit (loss) for the period | 9904 | €20,473 | €4,897 | -€15,576 | -76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,473 | €4,897 | -€15,576 | -76.1% |
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 29 October 2026 via checked.be.