Christophe Daerden 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.
Christophe Daerden Advocaat
Largest movements
- Cash +€20,800
up €20,800 (+67.3%), from €30,914 to €51,714
mainly Net result for the year (+€33,417) and Tax, wage and social debts (+€11,103)
- Receivables within one year +€18,379
up €18,379 (+206%), from €8,912 to €27,290
of which Trade receivables: +€18,304
- Reserves +€33,417
up €33,417 (+190%), from €17,548 to €50,965
- Tax, wage and social debts +€11,103
up €11,103 (+134%), from €8,256 to €19,360
of which Taxes: +€10,881
- Trade debts -€4,887
down €4,887 (-67.2%), from €7,268 to €2,381
- Gross operating margin +€22,676
up €22,676 (+83.5%), from €27,172 to €49,848
- Write-downs +€4,328
new in 2025: €4,328
- Taxes +€3,236
up €3,236 (+46.7%), from €6,925 to €10,161
- Other operating charges -€701
down €701 (-54.4%), from €1,288 to €587
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 | €40,186 | €79,354 | +€39,168 | +97.5% |
| Current assets | 29/58 | €40,186 | €79,354 | +€39,168 | +97.5% |
| Amounts receivable within one year | 40/41 | €8,912 | €27,290 | +€18,379 | +206% |
| Trade receivables | 40 | €8,772 | €27,076 | +€18,304 | +209% |
| Other amounts receivable | 41 | €140 | €215 | +€75 | +53.3% |
| Cash at bank and in hand | 54/58 | €30,914 | €51,714 | +€20,800 | +67.3% |
| Deferred charges and accrued income | 490/1 | €361 | €350 | -€11 | -3.0% |
| Total equity and liabilities | 10/49 | €40,186 | €79,354 | +€39,168 | +97.5% |
| Equity | 10/15 | €20,548 | €53,965 | +€33,417 | +163% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,548 | €50,965 | +€33,417 | +190% |
| Distributable reserves | 133 | €17,548 | €50,965 | +€33,417 | +190% |
| Amounts payable | 17/49 | €19,638 | €25,389 | +€5,751 | +29.3% |
| Amounts payable within one year | 42/48 | €19,638 | €25,389 | +€5,751 | +29.3% |
| Trade debts | 44 | €7,268 | €2,381 | -€4,887 | -67.2% |
| Suppliers | 440/4 | €7,268 | €2,381 | -€4,887 | -67.2% |
| Taxes, remuneration and social security | 45 | €8,256 | €19,360 | +€11,103 | +134% |
| Taxes | 450/3 | €8,256 | €19,137 | +€10,881 | +132% |
| Remuneration and social security | 454/9 | - | €223 | +€223 | |
| Other amounts payable | 47/48 | €4,114 | €3,648 | -€466 | -11.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,328 | +€4,328 | |
| Other operating charges | 640/8 | €1,288 | €587 | -€701 | -54.4% |
| Gross operating margin | 9900 | €27,172 | €49,848 | +€22,676 | +83.5% |
| Operating profit (loss) | 9901 | €25,884 | €44,932 | +€19,048 | +73.6% |
| Financial income | 75/76B | €179 | €88 | -€91 | -50.6% |
| Recurring financial income | 75 | €179 | €88 | -€91 | -50.6% |
| Financial charges | 65/66B | €1,590 | €1,443 | -€147 | -9.2% |
| Recurring financial charges | 65 | €1,590 | €1,443 | -€147 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €24,473 | €43,578 | +€19,105 | +78.1% |
| Income taxes | 67/77 | €6,925 | €10,161 | +€3,236 | +46.7% |
| Profit (loss) for the period | 9904 | €17,548 | €33,417 | +€15,869 | +90.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,548 | €33,417 | +€15,869 | +90.4% |
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 27 October 2026 via checked.be.