Dirk Vanaelst: 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.
Dirk Vanaelst
Largest movements
- Cash -€5,509
down €5,509 (-12.3%), from €44,807 to €39,299
mainly Net result for the year (-€4,005) and Investment in fixed assets (net) (-€2,479)
- Tangible fixed assets +€1,919
new in 2025: €1,919
- Receivables within one year +€631
up €631 (+77.3%), from €816 to €1,447
of which Other amounts receivable: +€508
- Profit (loss) carried forward -€4,005
down €4,005 (-37.5%), from €10,672 to €6,668
- Tax, wage and social debts +€2,169
up €2,169 (+30.6%), from €7,082 to €9,251
- Other debts -€944
down €944 (-93.8%), from €1,007 to €63
- Gross operating margin -€27,562
down €27,562, from €27,210 to -€351
- Taxes -€5,333
down €5,333 (-69.7%), from €7,650 to €2,317
- Depreciation +€559
new in 2025: €559
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 | €47,136 | €44,276 | -€2,860 | -6.1% |
| Fixed assets | 21/28 | - | €1,919 | +€1,919 | |
| Tangible fixed assets | 22/27 | - | €1,919 | +€1,919 | |
| Furniture and vehicles | 24 | - | €1,919 | +€1,919 | |
| Current assets | 29/58 | €47,136 | €42,357 | -€4,780 | -10.1% |
| Amounts receivable within one year | 40/41 | €816 | €1,447 | +€631 | +77.3% |
| Trade receivables | 40 | €782 | €905 | +€123 | +15.7% |
| Other amounts receivable | 41 | €34 | €542 | +€508 | +1,488% |
| Cash at bank and in hand | 54/58 | €44,807 | €39,299 | -€5,509 | -12.3% |
| Deferred charges and accrued income | 490/1 | €1,513 | €1,611 | +€98 | +6.5% |
| Total equity and liabilities | 10/49 | €47,136 | €44,276 | -€2,860 | -6.1% |
| Equity | 10/15 | €38,672 | €34,668 | -€4,005 | -10.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,672 | €6,668 | -€4,005 | -37.5% |
| Amounts payable | 17/49 | €8,464 | €9,608 | +€1,144 | +13.5% |
| Amounts payable within one year | 42/48 | €8,464 | €9,608 | +€1,144 | +13.5% |
| Trade debts | 44 | €375 | €295 | -€80 | -21.3% |
| Suppliers | 440/4 | €375 | €295 | -€80 | -21.3% |
| Taxes, remuneration and social security | 45 | €7,082 | €9,251 | +€2,169 | +30.6% |
| Taxes | 450/3 | €7,082 | €9,251 | +€2,169 | +30.6% |
| Other amounts payable | 47/48 | €1,007 | €63 | -€944 | -93.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €559 | +€559 | |
| Other operating charges | 640/8 | €920 | €656 | -€263 | -28.6% |
| Gross operating margin | 9900 | €27,210 | -€351 | -€27,562 | |
| Operating profit (loss) | 9901 | €26,290 | -€1,567 | -€27,857 | |
| Financial income | 75/76B | €110 | - | -€110 | |
| Recurring financial income | 75 | €110 | - | -€110 | |
| Financial charges | 65/66B | €78 | €121 | +€43 | +55.0% |
| Recurring financial charges | 65 | €78 | €121 | +€43 | +55.0% |
| Profit (loss) for the period before taxes | 9903 | €26,322 | -€1,688 | -€28,010 | |
| Income taxes | 67/77 | €7,650 | €2,317 | -€5,333 | -69.7% |
| Profit (loss) for the period | 9904 | €18,672 | -€4,005 | -€22,677 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,672 | -€4,005 | -€22,677 |
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 24 October 2026 via checked.be.