De letterdroom: 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.
De letterdroom
Largest movements
- Cash +€36,793
up €36,793 (+95.5%), from €38,515 to €75,308
mainly Investment in fixed assets (net) (+€18,015) and Net result for the year (+€15,537)
- Tangible fixed assets -€22,364
down €22,364 (-11.9%), from €187,421 to €165,057
of which Furniture and vehicles: -€18,117
- Receivables within one year -€3,258
down €3,258 (-76.5%), from €4,258 to €1,000
- Profit (loss) carried forward +€14,704
up €14,704 (+10.9%), from €135,487 to €150,191
- Gross operating margin +€7,518
up €7,518 (+32.0%), from €23,528 to €31,046
- Depreciation -€5,624
down €5,624 (-56.4%), from €9,973 to €4,349
- Other operating charges +€543
up €543 (+323%), from €168 to €712
- Taxes -€401
down €401 (-8.9%), from €4,497 to €4,096
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 | €230,193 | €241,365 | +€11,172 | +4.9% |
| Fixed assets | 21/28 | €187,421 | €165,057 | -€22,364 | -11.9% |
| Tangible fixed assets | 22/27 | €187,421 | €165,057 | -€22,364 | -11.9% |
| Land and buildings | 22 | €162,510 | €158,970 | -€3,541 | -2.2% |
| Plant, machinery and equipment | 23 | €5,796 | €5,090 | -€706 | -12.2% |
| Furniture and vehicles | 24 | €19,114 | €998 | -€18,117 | -94.8% |
| Current assets | 29/58 | €42,773 | €76,308 | +€33,535 | +78.4% |
| Amounts receivable within one year | 40/41 | €4,258 | €1,000 | -€3,258 | -76.5% |
| Other amounts receivable | 41 | €4,258 | €1,000 | -€3,258 | -76.5% |
| Cash at bank and in hand | 54/58 | €38,515 | €75,308 | +€36,793 | +95.5% |
| Total equity and liabilities | 10/49 | €230,193 | €241,365 | +€11,172 | +4.9% |
| Equity | 10/15 | €213,547 | €228,251 | +€14,704 | +6.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,860 | €71,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,487 | €150,191 | +€14,704 | +10.9% |
| Amounts payable | 17/49 | €16,646 | €13,114 | -€3,532 | -21.2% |
| Amounts payable within one year | 42/48 | €16,646 | €13,114 | -€3,532 | -21.2% |
| Trade debts | 44 | €1,321 | €1,187 | -€135 | -10.2% |
| Suppliers | 440/4 | €1,321 | €1,187 | -€135 | -10.2% |
| Taxes, remuneration and social security | 45 | €7,310 | €6,062 | -€1,248 | -17.1% |
| Remuneration and social security | 454/9 | €7,310 | €6,062 | -€1,248 | -17.1% |
| Other amounts payable | 47/48 | €8,015 | €5,866 | -€2,150 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,973 | €4,349 | -€5,624 | -56.4% |
| Other operating charges | 640/8 | €168 | €712 | +€543 | +323% |
| Non-recurring operating charges | 66A | - | €6,494 | +€6,494 | |
| Gross operating margin | 9900 | €23,528 | €31,046 | +€7,518 | +32.0% |
| Operating profit (loss) | 9901 | €13,387 | €19,491 | +€6,104 | +45.6% |
| Financial income | 75/76B | €635 | €385 | -€250 | -39.3% |
| Recurring financial income | 75 | €635 | €385 | -€250 | -39.3% |
| Financial charges | 65/66B | €317 | €244 | -€72 | -22.9% |
| Recurring financial charges | 65 | €317 | €244 | -€72 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €13,706 | €19,632 | +€5,927 | +43.2% |
| Income taxes | 67/77 | €4,497 | €4,096 | -€401 | -8.9% |
| Profit (loss) for the period | 9904 | €9,209 | €15,537 | +€6,328 | +68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,209 | €15,537 | +€6,328 | +68.7% |
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 23 October 2026 via checked.be.