CELINE MASSCHELEIN-ADVOCAAT: 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 MASSCHELEIN-ADVOCAAT
Largest movements
- Current investments +€113,939
up €113,939 (+46.4%), from €245,637 to €359,576
- Cash -€47,696
down €47,696 (-33.7%), from €141,394 to €93,698
mainly Current investments (-€113,939) and Contributions, distributions and other (-€97,000)
- Tangible fixed assets -€46,857
down €46,857 (-12.3%), from €379,576 to €332,719
of which Land and buildings: -€46,181
- Tax, wage and social debts +€54,806
up €54,806 (+1,211%), from €4,527 to €59,332
- Debts after one year -€50,767
down €50,767 (-24.7%), from €205,121 to €154,354
- Reserves +€21,013
up €21,013 (+2.9%), from €733,825 to €754,838
of which Distributable reserves: +€21,013
- Trade debts -€14,973
down €14,973 (-96.8%), from €15,473 to €500
- Other debts +€14,677
up €14,677 (+233%), from €6,292 to €20,969
- Financial income +€19,673
up €19,673 (+3,743%), from €526 to €20,199
- Gross operating margin -€15,181
down €15,181 (-6.5%), from €233,950 to €218,769
- Taxes +€7,809
up €7,809 (+15.4%), from €50,686 to €58,494
- Financial charges -€4,088
down €4,088 (-35.5%), from €11,498 to €7,411
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 | €1,085,206 | €1,107,058 | +€21,852 | +2.0% |
| Fixed assets | 21/28 | €399,621 | €362,764 | -€36,857 | -9.2% |
| Tangible fixed assets | 22/27 | €379,576 | €332,719 | -€46,857 | -12.3% |
| Land and buildings | 22 | €373,989 | €327,808 | -€46,181 | -12.3% |
| Plant, machinery and equipment | 23 | €2,398 | €1,378 | -€1,021 | -42.6% |
| Furniture and vehicles | 24 | €3,188 | €3,533 | +€345 | +10.8% |
| Financial fixed assets | 28 | €20,045 | €30,045 | +€10,000 | +49.9% |
| Current assets | 29/58 | €685,586 | €744,294 | +€58,709 | +8.6% |
| Amounts receivable within one year | 40/41 | €295,884 | €285,369 | -€10,516 | -3.6% |
| Trade receivables | 40 | €267,684 | €271,057 | +€3,373 | +1.3% |
| Other amounts receivable | 41 | €28,200 | €14,312 | -€13,889 | -49.2% |
| Current investments | 50/53 | €245,637 | €359,576 | +€113,939 | +46.4% |
| Cash at bank and in hand | 54/58 | €141,394 | €93,698 | -€47,696 | -33.7% |
| Deferred charges and accrued income | 490/1 | €2,671 | €5,652 | +€2,981 | +112% |
| Total equity and liabilities | 10/49 | €1,085,206 | €1,107,058 | +€21,852 | +2.0% |
| Equity | 10/15 | €793,563 | €814,575 | +€21,013 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €733,825 | €754,838 | +€21,013 | +2.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €731,965 | €752,978 | +€21,013 | +2.9% |
| Profit (loss) carried forward | 14 | €41,137 | €41,137 | = | 0.0% |
| Amounts payable | 17/49 | €291,644 | €292,483 | +€839 | +0.3% |
| Amounts payable after more than one year | 17 | €205,121 | €154,354 | -€50,767 | -24.7% |
| Financial debts | 170/4 | €205,121 | €154,354 | -€50,767 | -24.7% |
| Amounts payable within one year | 42/48 | €86,523 | €137,231 | +€50,708 | +58.6% |
| Current portion of amounts payable after more than one year | 42 | €60,232 | €56,430 | -€3,801 | -6.3% |
| Trade debts | 44 | €15,473 | €500 | -€14,973 | -96.8% |
| Suppliers | 440/4 | €15,473 | €500 | -€14,973 | -96.8% |
| Taxes, remuneration and social security | 45 | €4,527 | €59,332 | +€54,806 | +1,211% |
| Taxes | 450/3 | €4,527 | €59,332 | +€54,806 | +1,211% |
| Other amounts payable | 47/48 | €6,292 | €20,969 | +€14,677 | +233% |
| Accrued charges and deferred income | 492/3 | - | €898 | +€898 | |
| Remuneration, social security and pensions | 62 | €1,366 | €1,427 | +€61 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,939 | €47,956 | +€16 | 0.0% |
| Other operating charges | 640/8 | €4,638 | €5,667 | +€1,029 | +22.2% |
| Gross operating margin | 9900 | €233,950 | €218,769 | -€15,181 | -6.5% |
| Operating profit (loss) | 9901 | €180,006 | €163,719 | -€16,288 | -9.0% |
| Financial income | 75/76B | €526 | €20,199 | +€19,673 | +3,743% |
| Recurring financial income | 75 | €526 | €20,199 | +€19,673 | +3,743% |
| Financial charges | 65/66B | €11,498 | €7,411 | -€4,088 | -35.5% |
| Recurring financial charges | 65 | €11,498 | €7,411 | -€4,088 | -35.5% |
| Profit (loss) for the period before taxes | 9903 | €169,034 | €176,507 | +€7,473 | +4.4% |
| Income taxes | 67/77 | €50,686 | €58,494 | +€7,809 | +15.4% |
| Profit (loss) for the period | 9904 | €118,348 | €118,013 | -€336 | -0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €118,348 | €118,013 | -€336 | -0.3% |
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 28 October 2026 via checked.be.