Dr. Annelore Bergé: 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. Annelore Bergé
Largest movements
- Cash +€39,913
up €39,913 (+46.2%), from €86,308 to €126,221
mainly Net result for the year (+€46,213) and Tax, wage and social debts (+€1,382)
- Receivables within one year +€7,664
up €7,664 (+24.0%), from €31,962 to €39,626
of which Other amounts receivable: +€20,478
- Reserves +€46,225
up €46,225 (+51.3%), from €90,150 to €136,375
- Gross operating margin -€4,886
down €4,886 (-7.6%), from €64,051 to €59,165
- Taxes -€768
down €768 (-5.9%), from €12,950 to €12,182
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 | €119,235 | €166,494 | +€47,259 | +39.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €786 | €0 | -€786 | -100% |
| Tangible fixed assets | 22/27 | €786 | €0 | -€786 | -100% |
| Furniture and vehicles | 24 | €786 | €0 | -€786 | -100% |
| Current assets | 29/58 | €118,449 | €166,494 | +€48,045 | +40.6% |
| Amounts receivable within one year | 40/41 | €31,962 | €39,626 | +€7,664 | +24.0% |
| Trade receivables | 40 | €31,962 | €19,148 | -€12,814 | -40.1% |
| Other amounts receivable | 41 | - | €20,478 | +€20,478 | |
| Cash at bank and in hand | 54/58 | €86,308 | €126,221 | +€39,913 | +46.2% |
| Deferred charges and accrued income | 490/1 | €179 | €646 | +€467 | +261% |
| Total equity and liabilities | 10/49 | €119,235 | €166,494 | +€47,259 | +39.6% |
| Equity | 10/15 | €93,166 | €139,378 | +€46,213 | +49.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €90,150 | €136,375 | +€46,225 | +51.3% |
| Distributable reserves | 133 | €90,150 | €136,375 | +€46,225 | +51.3% |
| Profit (loss) carried forward | 14 | €16 | €3 | -€12 | -78.2% |
| Amounts payable | 17/49 | €26,070 | €27,115 | +€1,046 | +4.0% |
| Amounts payable within one year | 42/48 | €26,070 | €27,115 | +€1,046 | +4.0% |
| Trade debts | 44 | €1,289 | €1,983 | +€694 | +53.9% |
| Suppliers | 440/4 | €1,289 | €1,983 | +€694 | +53.9% |
| Taxes, remuneration and social security | 45 | €23,750 | €25,132 | +€1,382 | +5.8% |
| Taxes | 450/3 | €23,750 | €25,132 | +€1,382 | +5.8% |
| Other amounts payable | 47/48 | €1,030 | €0 | -€1,030 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €961 | €786 | -€175 | -18.2% |
| Other operating charges | 640/8 | €387 | €408 | +€21 | +5.4% |
| Gross operating margin | 9900 | €64,051 | €59,165 | -€4,886 | -7.6% |
| Operating profit (loss) | 9901 | €62,702 | €57,970 | -€4,732 | -7.5% |
| Financial income | 75/76B | - | €555 | +€555 | |
| Recurring financial income | 75 | - | €555 | +€555 | |
| Financial charges | 65/66B | €44 | €130 | +€86 | +199% |
| Recurring financial charges | 65 | €44 | €130 | +€86 | +199% |
| Profit (loss) for the period before taxes | 9903 | €62,659 | €58,395 | -€4,264 | -6.8% |
| Income taxes | 67/77 | €12,950 | €12,182 | -€768 | -5.9% |
| Profit (loss) for the period | 9904 | €49,709 | €46,213 | -€3,496 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,709 | €46,213 | -€3,496 | -7.0% |
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 26 October 2026 via checked.be.