David VANDENBERGHE: 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.
David VANDENBERGHE
Largest movements
- Cash -€3,452
down €3,452 (-19.8%), from €17,468 to €14,017
mainly Net result for the year (-€8,231)
- Tangible fixed assets -€2,473
down €2,473 (-100%), from €2,473 to €0
- Receivables within one year -€695
down €695 (-40.1%), from €1,732 to €1,037
of which Other amounts receivable: -€739
- Deferred charges and accrued income -€263
down €263 (-22.0%), from €1,193 to €931
- Profit (loss) carried forward -€8,231
down €8,231, from €725 to -€7,507
- Tax, wage and social debts +€1,092
up €1,092 (+243%), from €450 to €1,542
- Trade debts +€257
up €257 (+134%), from €192 to €449
- Gross operating margin -€17,513
down €17,513, from €12,520 to -€4,993
- Depreciation -€1,644
down €1,644 (-39.9%), from €4,118 to €2,473
- Taxes -€1,500
no longer reported in 2025 (was €1,500)
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 | €22,867 | €15,984 | -€6,882 | -30.1% |
| Fixed assets | 21/28 | €2,473 | €0 | -€2,473 | -100% |
| Tangible fixed assets | 22/27 | €2,473 | €0 | -€2,473 | -100% |
| Furniture and vehicles | 24 | €2,473 | €0 | -€2,473 | -100% |
| Current assets | 29/58 | €20,393 | €15,984 | -€4,409 | -21.6% |
| Amounts receivable within one year | 40/41 | €1,732 | €1,037 | -€695 | -40.1% |
| Trade receivables | 40 | €232 | €277 | +€44 | +19.1% |
| Other amounts receivable | 41 | €1,500 | €760 | -€739 | -49.3% |
| Cash at bank and in hand | 54/58 | €17,468 | €14,017 | -€3,452 | -19.8% |
| Deferred charges and accrued income | 490/1 | €1,193 | €931 | -€263 | -22.0% |
| Total equity and liabilities | 10/49 | €22,867 | €15,984 | -€6,882 | -30.1% |
| Equity | 10/15 | €22,225 | €13,993 | -€8,231 | -37.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,500 | €18,500 | = | 0.0% |
| Distributable reserves | 133 | €18,500 | €18,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €725 | -€7,507 | -€8,231 | |
| Amounts payable | 17/49 | €642 | €1,991 | +€1,349 | +210% |
| Amounts payable within one year | 42/48 | €642 | €1,991 | +€1,349 | +210% |
| Trade debts | 44 | €192 | €449 | +€257 | +134% |
| Suppliers | 440/4 | €192 | €449 | +€257 | +134% |
| Taxes, remuneration and social security | 45 | €450 | €1,542 | +€1,092 | +243% |
| Taxes | 450/3 | €450 | €1,542 | +€1,092 | +243% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,118 | €2,473 | -€1,644 | -39.9% |
| Other operating charges | 640/8 | €533 | €523 | -€10 | -1.9% |
| Gross operating margin | 9900 | €12,520 | -€4,993 | -€17,513 | |
| Operating profit (loss) | 9901 | €7,869 | -€7,990 | -€15,858 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €266 | €242 | -€24 | -8.9% |
| Recurring financial charges | 65 | €266 | €242 | -€24 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €7,603 | -€8,231 | -€15,834 | |
| Income taxes | 67/77 | €1,500 | - | -€1,500 | |
| Profit (loss) for the period | 9904 | €6,103 | -€8,231 | -€14,334 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,103 | -€8,231 | -€14,334 |
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 17 October 2026 via checked.be.