CHRISTELLE DEROUX: 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.
CHRISTELLE DEROUX
Largest movements
- Cash +€71,136
up €71,136 (+403%), from €17,659 to €88,795
mainly Net result for the year (+€215,997) and Receivables within one year (+€48,477)
- Receivables within one year -€48,477
down €48,477 (-41.9%), from €115,599 to €67,122
of which Other amounts receivable: -€47,442
- Debts after one year -€156,918
down €156,918 (-13.3%), from €1.2m to €1.0m
- Profit (loss) carried forward +€140,997
up €140,997 (+14.2%), from €993,379 to €1.1m
- Financial income +€48,800
up €48,800 (+51.3%), from €95,200 to €144,000
- Gross operating margin +€4,435
up €4,435 (+3.7%), from €119,612 to €124,047
- Financial charges -€2,303
down €2,303 (-11.0%), from €20,875 to €18,572
- Taxes +€1,406
up €1,406 (+7.8%), from €18,083 to €19,489
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 | €2,923,377 | €2,935,035 | +€11,658 | +0.4% |
| Fixed assets | 21/28 | €2,789,472 | €2,778,429 | -€11,042 | -0.4% |
| Tangible fixed assets | 22/27 | €298,519 | €287,477 | -€11,042 | -3.7% |
| Land and buildings | 22 | €296,209 | €286,672 | -€9,536 | -3.2% |
| Furniture and vehicles | 24 | €2,311 | €805 | -€1,506 | -65.2% |
| Financial fixed assets | 28 | €2,490,952 | €2,490,952 | = | 0.0% |
| Current assets | 29/58 | €133,905 | €156,606 | +€22,700 | +17.0% |
| Amounts receivable within one year | 40/41 | €115,599 | €67,122 | -€48,477 | -41.9% |
| Trade receivables | 40 | €2,273 | €1,239 | -€1,035 | -45.5% |
| Other amounts receivable | 41 | €113,326 | €65,883 | -€47,442 | -41.9% |
| Cash at bank and in hand | 54/58 | €17,659 | €88,795 | +€71,136 | +403% |
| Deferred charges and accrued income | 490/1 | €647 | €689 | +€42 | +6.4% |
| Total equity and liabilities | 10/49 | €2,923,377 | €2,935,035 | +€11,658 | +0.4% |
| Equity | 10/15 | €1,268,379 | €1,409,376 | +€140,997 | +11.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €993,379 | €1,134,376 | +€140,997 | +14.2% |
| Amounts payable | 17/49 | €1,654,998 | €1,525,659 | -€129,339 | -7.8% |
| Amounts payable after more than one year | 17 | €1,181,245 | €1,024,327 | -€156,918 | -13.3% |
| Financial debts | 170/4 | €1,181,245 | €1,024,327 | -€156,918 | -13.3% |
| Amounts payable within one year | 42/48 | €473,753 | €501,332 | +€27,579 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €154,702 | €156,918 | +€2,216 | +1.4% |
| Trade debts | 44 | €3,572 | €2,540 | -€1,031 | -28.9% |
| Suppliers | 440/4 | €3,572 | €2,540 | -€1,031 | -28.9% |
| Taxes, remuneration and social security | 45 | €12,464 | €13,797 | +€1,334 | +10.7% |
| Taxes | 450/3 | €12,464 | €13,797 | +€1,334 | +10.7% |
| Other amounts payable | 47/48 | €303,015 | €328,076 | +€25,061 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,042 | €11,042 | = | 0.0% |
| Other operating charges | 640/8 | €3,853 | €2,946 | -€907 | -23.5% |
| Gross operating margin | 9900 | €119,612 | €124,047 | +€4,435 | +3.7% |
| Operating profit (loss) | 9901 | €104,716 | €110,058 | +€5,342 | +5.1% |
| Financial income | 75/76B | €95,200 | €144,000 | +€48,800 | +51.3% |
| Recurring financial income | 75 | €95,200 | €144,000 | +€48,800 | +51.3% |
| Financial charges | 65/66B | €20,875 | €18,572 | -€2,303 | -11.0% |
| Recurring financial charges | 65 | €20,875 | €18,572 | -€2,303 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €179,041 | €235,486 | +€56,445 | +31.5% |
| Income taxes | 67/77 | €18,083 | €19,489 | +€1,406 | +7.8% |
| Profit (loss) for the period | 9904 | €160,958 | €215,997 | +€55,039 | +34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €160,958 | €215,997 | +€55,039 | +34.2% |
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 25 October 2026 via checked.be.