Dr. An-Sofie Lemmens: 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.
Dr. An-Sofie Lemmens
Largest movements
- Deferred charges and accrued income +€17,003
up €17,003 (+13.9%), from €122,506 to €139,510
- Current investments +€15,000
up €15,000 (+100%), from €15,000 to €30,000
- Tangible fixed assets -€10,540
down €10,540 (-6.4%), from €165,960 to €155,420
of which Other tangible fixed assets: -€13,391
- Other debts +€43,344
up €43,344 (+74.1%), from €58,517 to €101,861
- Debts after one year -€19,224
down €19,224 (-18.6%), from €103,631 to €84,406
- Reserves -€17,856
down €17,856 (-15.1%), from €117,951 to €100,095
- Tax, wage and social debts +€15,205
up €15,205 (+79.7%), from €19,077 to €34,281
of which Taxes: +€15,205
- Gross operating margin +€45,068
up €45,068 (+43.1%), from €104,482 to €149,550
- Taxes +€10,156
up €10,156 (+54.7%), from €18,560 to €28,716
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 | €331,385 | €353,121 | +€21,736 | +6.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €165,960 | €155,420 | -€10,540 | -6.4% |
| Tangible fixed assets | 22/27 | €165,960 | €155,420 | -€10,540 | -6.4% |
| Plant, machinery and equipment | 23 | - | €2,651 | +€2,651 | |
| Furniture and vehicles | 24 | €2,914 | €3,114 | +€199 | +6.8% |
| Other tangible fixed assets | 26 | €163,046 | €149,655 | -€13,391 | -8.2% |
| Current assets | 29/58 | €165,425 | €197,701 | +€32,276 | +19.5% |
| Amounts receivable within one year | 40/41 | €2,338 | €2,504 | +€167 | +7.1% |
| Trade receivables | 40 | €2,338 | €2,504 | +€167 | +7.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €15,000 | €30,000 | +€15,000 | +100% |
| Cash at bank and in hand | 54/58 | €25,581 | €25,687 | +€107 | +0.4% |
| Deferred charges and accrued income | 490/1 | €122,506 | €139,510 | +€17,003 | +13.9% |
| Total equity and liabilities | 10/49 | €331,385 | €353,121 | +€21,736 | +6.6% |
| Equity | 10/15 | €122,951 | €105,095 | -€17,856 | -14.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €117,951 | €100,095 | -€17,856 | -15.1% |
| Distributable reserves | 133 | €117,951 | €100,095 | -€17,856 | -15.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €208,434 | €248,026 | +€39,592 | +19.0% |
| Amounts payable after more than one year | 17 | €103,631 | €84,406 | -€19,224 | -18.6% |
| Financial debts | 170/4 | €103,631 | €84,406 | -€19,224 | -18.6% |
| Amounts payable within one year | 42/48 | €104,735 | €162,976 | +€58,241 | +55.6% |
| Current portion of amounts payable after more than one year | 42 | €18,527 | €19,224 | +€697 | +3.8% |
| Financial debts | 43 | €7,536 | €5,062 | -€2,474 | -32.8% |
| Credit institutions | 430/8 | €7,536 | €5,062 | -€2,474 | -32.8% |
| Trade debts | 44 | €1,078 | €2,547 | +€1,469 | +136% |
| Suppliers | 440/4 | €1,078 | €2,547 | +€1,469 | +136% |
| Taxes, remuneration and social security | 45 | €19,077 | €34,281 | +€15,205 | +79.7% |
| Taxes | 450/3 | €14,577 | €29,781 | +€15,205 | +104% |
| Remuneration and social security | 454/9 | €4,500 | €4,500 | = | 0.0% |
| Other amounts payable | 47/48 | €58,517 | €101,861 | +€43,344 | +74.1% |
| Accrued charges and deferred income | 492/3 | €68 | €644 | +€575 | +841% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,323 | €15,175 | +€852 | +6.0% |
| Other operating charges | 640/8 | €1,045 | €1,373 | +€329 | +31.4% |
| Gross operating margin | 9900 | €104,482 | €149,550 | +€45,068 | +43.1% |
| Operating profit (loss) | 9901 | €89,114 | €133,002 | +€43,887 | +49.2% |
| Financial income | 75/76B | €193 | €465 | +€272 | +141% |
| Recurring financial income | 75 | €193 | €465 | +€272 | +141% |
| Financial charges | 65/66B | €5,303 | €4,959 | -€343 | -6.5% |
| Recurring financial charges | 65 | €5,303 | €4,959 | -€343 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €84,004 | €128,507 | +€44,503 | +53.0% |
| Income taxes | 67/77 | €18,560 | €28,716 | +€10,156 | +54.7% |
| Profit (loss) for the period | 9904 | €65,444 | €99,791 | +€34,347 | +52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,444 | €99,791 | +€34,347 | +52.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.