Dr. Arne Wouters: what changed
Dr. Arne Wouters
Largest movements
- Tangible fixed assets +€117,563
new in 2025: €117,563
- Deferred charges and accrued income +€4,649
up €4,649 (+1,545%), from €301 to €4,950
- Receivables within one year +€2,395
up €2,395 (+171%), from €1,400 to €3,795
- Cash -€2,139
down €2,139 (-44.2%), from €4,834 to €2,695
mainly Investment in fixed assets (net) (-€123,068) and Net result for the year (-€9,123)
- Debts after one year +€74,119
new in 2025: €74,119
- Other debts +€38,775
up €38,775 (+354%), from €10,959 to €49,734
- Current portion of long-term debt +€17,944
new in 2025: €17,944
- Profit (loss) carried forward -€9,123
down €9,123 (-95.9%), from -€9,514 to -€18,637
- Depreciation +€5,504
new in 2025: €5,504
- Gross operating margin +€4,634
up €4,634 (+66.3%), from -€6,989 to -€2,355
- Financial charges +€636
up €636 (+231%), from €276 to €912
- Other operating charges +€126
up €126 (+65.1%), from €193 to €319
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,535 | €129,003 | +€122,468 | +1,874% |
| Fixed assets | 21/28 | - | €117,563 | +€117,563 | |
| Tangible fixed assets | 22/27 | - | €117,563 | +€117,563 | |
| Furniture and vehicles | 24 | - | €117,563 | +€117,563 | |
| Current assets | 29/58 | €6,535 | €11,440 | +€4,905 | +75.1% |
| Amounts receivable within one year | 40/41 | €1,400 | €3,795 | +€2,395 | +171% |
| Trade receivables | 40 | €1,400 | €3,795 | +€2,395 | +171% |
| Cash at bank and in hand | 54/58 | €4,834 | €2,695 | -€2,139 | -44.2% |
| Deferred charges and accrued income | 490/1 | €301 | €4,950 | +€4,649 | +1,545% |
| Total equity and liabilities | 10/49 | €6,535 | €129,003 | +€122,468 | +1,874% |
| Equity | 10/15 | -€7,514 | -€16,637 | -€9,123 | -121% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,514 | -€18,637 | -€9,123 | -95.9% |
| Amounts payable | 17/49 | €14,049 | €145,640 | +€131,591 | +937% |
| Amounts payable after more than one year | 17 | - | €74,119 | +€74,119 | |
| Financial debts | 170/4 | - | €74,119 | +€74,119 | |
| Amounts payable within one year | 42/48 | €14,049 | €71,522 | +€57,472 | +409% |
| Current portion of amounts payable after more than one year | 42 | - | €17,944 | +€17,944 | |
| Trade debts | 44 | €3,091 | €3,812 | +€721 | +23.3% |
| Suppliers | 440/4 | €3,091 | €3,812 | +€721 | +23.3% |
| Taxes, remuneration and social security | 45 | - | €33 | +€33 | |
| Taxes | 450/3 | - | €33 | +€33 | |
| Other amounts payable | 47/48 | €10,959 | €49,734 | +€38,775 | +354% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,504 | +€5,504 | |
| Other operating charges | 640/8 | €193 | €319 | +€126 | +65.1% |
| Gross operating margin | 9900 | -€6,989 | -€2,355 | +€4,634 | +66.3% |
| Operating profit (loss) | 9901 | -€7,182 | -€8,178 | -€996 | -13.9% |
| Financial charges | 65/66B | €276 | €912 | +€636 | +231% |
| Recurring financial charges | 65 | €276 | €912 | +€636 | +231% |
| Profit (loss) for the period before taxes | 9903 | -€7,458 | -€9,090 | -€1,632 | -21.9% |
| Income taxes | 67/77 | - | €33 | +€33 | |
| Profit (loss) for the period | 9904 | -€7,458 | -€9,123 | -€1,665 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,458 | -€9,123 | -€1,665 | -22.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.