D'HONDT Katrien: 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.
D'HONDT Katrien
Largest movements
- Current investments +€22,000
up €22,000 (+37.2%), from €59,200 to €81,200
- Receivables within one year -€10,527
down €10,527 (-24.3%), from €43,304 to €32,778
of which Other amounts receivable: -€9,657
- Cash +€7,314
up €7,314 (+26.1%), from €28,049 to €35,363
mainly Net result for the year (+€36,358) and Receivables within one year (+€10,527)
- Reserves +€22,078
up €22,078 (+22.6%), from €97,740 to €119,818
- Tax, wage and social debts -€2,660
down €2,660 (-16.1%), from €16,560 to €13,900
of which Taxes: -€3,224
- Financial income +€7,366
up €7,366 (+1,414%), from €521 to €7,887
- Taxes +€1,726
up €1,726 (+11.8%), from €14,653 to €16,379
- Gross operating margin -€1,704
down €1,704 (-1.5%), from €114,687 to €112,984
- Staff costs -€1,270
down €1,270 (-1.9%), from €66,760 to €65,490
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 | €132,249 | €150,633 | +€18,384 | +13.9% |
| Fixed assets | 21/28 | €1,040 | €807 | -€233 | -22.4% |
| Tangible fixed assets | 22/27 | €1,040 | €807 | -€233 | -22.4% |
| Plant, machinery and equipment | 23 | €394 | €246 | -€148 | -37.5% |
| Furniture and vehicles | 24 | €646 | €560 | -€86 | -13.3% |
| Current assets | 29/58 | €131,209 | €149,826 | +€18,617 | +14.2% |
| Amounts receivable within one year | 40/41 | €43,304 | €32,778 | -€10,527 | -24.3% |
| Trade receivables | 40 | €24,865 | €23,995 | -€870 | -3.5% |
| Other amounts receivable | 41 | €18,439 | €8,782 | -€9,657 | -52.4% |
| Current investments | 50/53 | €59,200 | €81,200 | +€22,000 | +37.2% |
| Cash at bank and in hand | 54/58 | €28,049 | €35,363 | +€7,314 | +26.1% |
| Deferred charges and accrued income | 490/1 | €656 | €485 | -€170 | -25.9% |
| Total equity and liabilities | 10/49 | €132,249 | €150,633 | +€18,384 | +13.9% |
| Equity | 10/15 | €110,140 | €132,218 | +€22,078 | +20.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €97,740 | €119,818 | +€22,078 | +22.6% |
| Distributable reserves | 133 | €97,740 | €119,818 | +€22,078 | +22.6% |
| Amounts payable | 17/49 | €22,109 | €18,415 | -€3,694 | -16.7% |
| Amounts payable within one year | 42/48 | €22,037 | €18,415 | -€3,622 | -16.4% |
| Trade debts | 44 | €4,917 | €4,515 | -€402 | -8.2% |
| Suppliers | 440/4 | €4,917 | €4,515 | -€402 | -8.2% |
| Taxes, remuneration and social security | 45 | €16,560 | €13,900 | -€2,660 | -16.1% |
| Taxes | 450/3 | €7,237 | €4,013 | -€3,224 | -44.5% |
| Remuneration and social security | 454/9 | €9,323 | €9,886 | +€563 | +6.0% |
| Other amounts payable | 47/48 | €560 | - | -€560 | |
| Accrued charges and deferred income | 492/3 | €72 | - | -€72 | |
| Remuneration, social security and pensions | 62 | €66,760 | €65,490 | -€1,270 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €589 | €648 | +€59 | +10.0% |
| Other operating charges | 640/8 | €1,601 | €1,840 | +€239 | +15.0% |
| Gross operating margin | 9900 | €114,687 | €112,984 | -€1,704 | -1.5% |
| Operating profit (loss) | 9901 | €45,737 | €45,005 | -€732 | -1.6% |
| Financial income | 75/76B | €521 | €7,887 | +€7,366 | +1,414% |
| Recurring financial income | 75 | €521 | €7,887 | +€7,366 | +1,414% |
| Financial charges | 65/66B | €122 | €155 | +€32 | +26.3% |
| Recurring financial charges | 65 | €122 | €155 | +€32 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €46,135 | €52,737 | +€6,602 | +14.3% |
| Income taxes | 67/77 | €14,653 | €16,379 | +€1,726 | +11.8% |
| Profit (loss) for the period | 9904 | €31,482 | €36,358 | +€4,876 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,482 | €36,358 | +€4,876 | +15.5% |
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 21 October 2026 via checked.be.