CINDY VANNESTE: what changed
CINDY VANNESTE
Largest movements
- Financial fixed assets -€250,180
down €250,180 (-41.7%), from €600,180 to €350,000
- Cash -€68,829
down €68,829 (-28.2%), from €244,283 to €175,454
mainly Contributions, distributions and other (-€747,720) and Debts after one year (-€28,855)
- Intangible fixed assets -€53,140
down €53,140 (-26.8%), from €198,584 to €145,444
- Tangible fixed assets +€14,684
up €14,684 (+22.4%), from €65,520 to €80,204
of which Furniture and vehicles: +€30,864
- Reserves -€475,000
down €475,000 (-58.3%), from €815,000 to €340,000
- Other debts +€130,200
new in 2025: €130,200
- Debts after one year -€28,855
down €28,855 (-15.1%), from €191,183 to €162,328
- Trade debts +€19,362
up €19,362 (+209%), from €9,263 to €28,624
- Tax, wage and social debts -€14,668
down €14,668 (-24.1%), from €60,828 to €46,159
of which Taxes: -€16,938
- Gross operating margin +€56,893
up €56,893 (+11.2%), from €507,634 to €564,527
- Taxes +€14,995
up €14,995 (+19.6%), from €76,339 to €91,333
- Staff costs +€14,557
up €14,557 (+12.7%), from €114,647 to €129,204
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,179,756 | €811,373 | -€368,383 | -31.2% |
| Fixed assets | 21/28 | €864,284 | €575,648 | -€288,636 | -33.4% |
| Intangible fixed assets | 21 | €198,584 | €145,444 | -€53,140 | -26.8% |
| Tangible fixed assets | 22/27 | €65,520 | €80,204 | +€14,684 | +22.4% |
| Furniture and vehicles | 24 | €672 | €31,537 | +€30,864 | +4,592% |
| Other tangible fixed assets | 26 | €64,848 | €48,668 | -€16,180 | -25.0% |
| Financial fixed assets | 28 | €600,180 | €350,000 | -€250,180 | -41.7% |
| Current assets | 29/58 | €315,472 | €235,725 | -€79,747 | -25.3% |
| Amounts receivable within one year | 40/41 | €286 | €759 | +€473 | +166% |
| Other amounts receivable | 41 | €286 | €759 | +€473 | +166% |
| Cash at bank and in hand | 54/58 | €244,283 | €175,454 | -€68,829 | -28.2% |
| Deferred charges and accrued income | 490/1 | €70,903 | €59,512 | -€11,392 | -16.1% |
| Total equity and liabilities | 10/49 | €1,179,756 | €811,373 | -€368,383 | -31.2% |
| Equity | 10/15 | €890,371 | €415,207 | -€475,164 | -53.4% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €815,000 | €340,000 | -€475,000 | -58.3% |
| Distributable reserves | 133 | €815,000 | €340,000 | -€475,000 | -58.3% |
| Profit (loss) carried forward | 14 | €971 | €807 | -€164 | -16.9% |
| Amounts payable | 17/49 | €289,385 | €396,166 | +€106,781 | +36.9% |
| Amounts payable after more than one year | 17 | €191,183 | €162,328 | -€28,855 | -15.1% |
| Financial debts | 170/4 | €191,183 | €162,328 | -€28,855 | -15.1% |
| Amounts payable within one year | 42/48 | €98,202 | €233,838 | +€135,636 | +138% |
| Current portion of amounts payable after more than one year | 42 | €28,112 | €28,855 | +€743 | +2.6% |
| Trade debts | 44 | €9,263 | €28,624 | +€19,362 | +209% |
| Suppliers | 440/4 | €9,263 | €28,624 | +€19,362 | +209% |
| Taxes, remuneration and social security | 45 | €60,828 | €46,159 | -€14,668 | -24.1% |
| Taxes | 450/3 | €43,912 | €26,973 | -€16,938 | -38.6% |
| Remuneration and social security | 454/9 | €16,916 | €19,186 | +€2,270 | +13.4% |
| Other amounts payable | 47/48 | - | €130,200 | +€130,200 | |
| Remuneration, social security and pensions | 62 | €114,647 | €129,204 | +€14,557 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,187 | €74,827 | -€1,360 | -1.8% |
| Other operating charges | 640/8 | €1,687 | €2,307 | +€620 | +36.8% |
| Gross operating margin | 9900 | €507,634 | €564,527 | +€56,893 | +11.2% |
| Operating profit (loss) | 9901 | €315,114 | €358,189 | +€43,075 | +13.7% |
| Financial income | 75/76B | €11,098 | €12,142 | +€1,044 | +9.4% |
| Recurring financial income | 75 | €11,098 | €12,142 | +€1,044 | +9.4% |
| Financial charges | 65/66B | €7,143 | €6,442 | -€701 | -9.8% |
| Recurring financial charges | 65 | €7,143 | €6,442 | -€701 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €319,069 | €363,889 | +€44,821 | +14.0% |
| Income taxes | 67/77 | €76,339 | €91,333 | +€14,995 | +19.6% |
| Profit (loss) for the period | 9904 | €242,730 | €272,556 | +€29,826 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €242,730 | €272,556 | +€29,826 | +12.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.