Dr. ANOUK DE CORT: 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. ANOUK DE CORT
Largest movements
- Tangible fixed assets +€69,370
up €69,370 (+398%), from €17,438 to €86,808
of which Furniture and vehicles: +€70,759
- Cash -€31,136
down €31,136 (-33.2%), from €93,893 to €62,758
mainly Investment in fixed assets (net) (-€74,657) and Contributions, distributions and other (-€65,000)
- Receivables within one year -€2,324
down €2,324 (-9.1%), from €25,419 to €23,095
of which Other amounts receivable: -€1,217
- Debts after one year +€55,367
new in 2025: €55,367
- Reserves -€32,576
down €32,576 (-33.2%), from €98,256 to €65,681
- Current portion of long-term debt +€13,063
new in 2025: €13,063
- Tax, wage and social debts -€2,677
down €2,677 (-8.3%), from €32,127 to €29,450
of which Taxes: -€1,777
- Trade debts +€2,539
up €2,539 (+338%), from €751 to €3,290
- Depreciation +€2,586
up €2,586 (+95.7%), from €2,701 to €5,287
- Taxes +€2,010
up €2,010 (+17.0%), from €11,800 to €13,810
- Financial charges +€1,441
up €1,441 (+1,434%), from €101 to €1,542
- Gross operating margin +€1,358
up €1,358 (+2.7%), from €50,973 to €52,331
- Financial income +€843
up €843 (+15,701%), from €5 to €849
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 | €139,562 | €177,038 | +€37,477 | +26.9% |
| Fixed assets | 21/28 | €18,938 | €88,308 | +€69,370 | +366% |
| Tangible fixed assets | 22/27 | €17,438 | €86,808 | +€69,370 | +398% |
| Land and buildings | 22 | €1,931 | €1,004 | -€927 | -48.0% |
| Plant, machinery and equipment | 23 | €1,661 | €1,199 | -€462 | -27.8% |
| Furniture and vehicles | 24 | €13,846 | €84,605 | +€70,759 | +511% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €120,624 | €88,730 | -€31,894 | -26.4% |
| Amounts receivable within one year | 40/41 | €25,419 | €23,095 | -€2,324 | -9.1% |
| Trade receivables | 40 | €1,107 | €0 | -€1,107 | -100% |
| Other amounts receivable | 41 | €24,312 | €23,095 | -€1,217 | -5.0% |
| Cash at bank and in hand | 54/58 | €93,893 | €62,758 | -€31,136 | -33.2% |
| Deferred charges and accrued income | 490/1 | €1,312 | €2,877 | +€1,566 | +119% |
| Total equity and liabilities | 10/49 | €139,562 | €177,038 | +€37,477 | +26.9% |
| Equity | 10/15 | €103,256 | €70,681 | -€32,576 | -31.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €98,256 | €65,681 | -€32,576 | -33.2% |
| Distributable reserves | 133 | €98,256 | €65,681 | -€32,576 | -33.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €36,306 | €106,358 | +€70,052 | +193% |
| Amounts payable after more than one year | 17 | - | €55,367 | +€55,367 | |
| Financial debts | 170/4 | - | €55,367 | +€55,367 | |
| Amounts payable within one year | 42/48 | €32,878 | €45,803 | +€12,925 | +39.3% |
| Current portion of amounts payable after more than one year | 42 | - | €13,063 | +€13,063 | |
| Trade debts | 44 | €751 | €3,290 | +€2,539 | +338% |
| Suppliers | 440/4 | €751 | €3,290 | +€2,539 | +338% |
| Taxes, remuneration and social security | 45 | €32,127 | €29,450 | -€2,677 | -8.3% |
| Taxes | 450/3 | €29,227 | €27,450 | -€1,777 | -6.1% |
| Remuneration and social security | 454/9 | €2,900 | €2,000 | -€900 | -31.0% |
| Accrued charges and deferred income | 492/3 | €3,428 | €5,188 | +€1,760 | +51.3% |
| Non-recurring operating income | 76A | - | €5,075 | +€5,075 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,701 | €5,287 | +€2,586 | +95.7% |
| Other operating charges | 640/8 | €368 | €116 | -€252 | -68.4% |
| Gross operating margin | 9900 | €50,973 | €52,331 | +€1,358 | +2.7% |
| Operating profit (loss) | 9901 | €47,903 | €46,927 | -€976 | -2.0% |
| Financial income | 75/76B | €5 | €849 | +€843 | +15,701% |
| Recurring financial income | 75 | €5 | €849 | +€843 | +15,701% |
| Financial charges | 65/66B | €101 | €1,542 | +€1,441 | +1,434% |
| Recurring financial charges | 65 | €101 | €1,542 | +€1,441 | +1,434% |
| Profit (loss) for the period before taxes | 9903 | €47,808 | €46,234 | -€1,574 | -3.3% |
| Income taxes | 67/77 | €11,800 | €13,810 | +€2,010 | +17.0% |
| Profit (loss) for the period | 9904 | €36,008 | €32,425 | -€3,584 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,008 | €32,425 | -€3,584 | -10.0% |
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 14 October 2026 via checked.be.