Chloé Van Elsen: 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.
Chloé Van Elsen
Largest movements
- Cash -€19,583
down €19,583 (-88.6%), from €22,110 to €2,526
mainly Net result for the year (-€18,372) and Receivables within one year (-€3,600)
- Receivables within one year +€3,600
up €3,600 (+308%), from €1,170 to €4,770
- Tangible fixed assets -€1,557
down €1,557 (-31.2%), from €4,990 to €3,433
of which Other tangible fixed assets: -€1,092
- Reserves -€42,006
no longer reported in 2025 (was €42,006)
- Profit (loss) carried forward +€23,635
up €23,635 (+74.3%), from -€31,794 to -€8,159
- Tax, wage and social debts +€4,311
up €4,311 (+91.6%), from €4,705 to €9,016
of which Remuneration and social security: +€2,200
- Other debts -€2,329
down €2,329 (-35.0%), from €6,661 to €4,333
- Trade debts -€1,151
down €1,151 (-31.2%), from €3,690 to €2,539
- Gross operating margin +€14,128
up €14,128 (+50.1%), from -€28,204 to -€14,076
- Other operating charges +€805
up €805 (+87.9%), from €916 to €1,722
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 | €28,270 | €10,729 | -€17,540 | -62.0% |
| Fixed assets | 21/28 | €4,990 | €3,433 | -€1,557 | -31.2% |
| Tangible fixed assets | 22/27 | €4,990 | €3,433 | -€1,557 | -31.2% |
| Furniture and vehicles | 24 | €465 | - | -€465 | |
| Other tangible fixed assets | 26 | €4,524 | €3,433 | -€1,092 | -24.1% |
| Current assets | 29/58 | €23,280 | €7,297 | -€15,983 | -68.7% |
| Amounts receivable within one year | 40/41 | €1,170 | €4,770 | +€3,600 | +308% |
| Trade receivables | 40 | €1,170 | €4,770 | +€3,600 | +308% |
| Cash at bank and in hand | 54/58 | €22,110 | €2,526 | -€19,583 | -88.6% |
| Total equity and liabilities | 10/49 | €28,270 | €10,729 | -€17,540 | -62.0% |
| Equity | 10/15 | €13,212 | -€5,159 | -€18,372 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €42,006 | - | -€42,006 | |
| Distributable reserves | 133 | €42,006 | - | -€42,006 | |
| Profit (loss) carried forward | 14 | -€31,794 | -€8,159 | +€23,635 | +74.3% |
| Amounts payable | 17/49 | €15,057 | €15,888 | +€831 | +5.5% |
| Amounts payable within one year | 42/48 | €15,057 | €15,888 | +€831 | +5.5% |
| Trade debts | 44 | €3,690 | €2,539 | -€1,151 | -31.2% |
| Suppliers | 440/4 | €3,690 | €2,539 | -€1,151 | -31.2% |
| Taxes, remuneration and social security | 45 | €4,705 | €9,016 | +€4,311 | +91.6% |
| Taxes | 450/3 | €4,705 | €6,816 | +€2,111 | +44.9% |
| Remuneration and social security | 454/9 | - | €2,200 | +€2,200 | |
| Other amounts payable | 47/48 | €6,661 | €4,333 | -€2,329 | -35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,665 | €1,557 | -€108 | -6.5% |
| Other operating charges | 640/8 | €916 | €1,722 | +€805 | +87.9% |
| Gross operating margin | 9900 | -€28,204 | -€14,076 | +€14,128 | +50.1% |
| Operating profit (loss) | 9901 | -€30,786 | -€17,355 | +€13,431 | +43.6% |
| Financial income | 75/76B | €121 | €15 | -€106 | -87.4% |
| Recurring financial income | 75 | €121 | €15 | -€106 | -87.4% |
| Financial charges | 65/66B | €989 | €890 | -€99 | -10.0% |
| Recurring financial charges | 65 | €989 | €890 | -€99 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€31,654 | -€18,230 | +€13,424 | +42.4% |
| Income taxes | 67/77 | €140 | €142 | +€2 | +1.3% |
| Profit (loss) for the period | 9904 | -€31,794 | -€18,372 | +€13,422 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,794 | -€18,372 | +€13,422 | +42.2% |
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 20 October 2026 via checked.be.