Dr. Aurélie Decroix: 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. Aurélie Decroix
Largest movements
- Cash +€26,554
up €26,554 (+40.2%), from €65,997 to €92,551
mainly Net result for the year (+€75,808) and Other debts (+€67,077)
- Deferred charges and accrued income -€11,328
down €11,328 (-59.1%), from €19,177 to €7,849
- Current investments +€10,400
up €10,400 (+13.9%), from €75,000 to €85,400
- Receivables within one year -€9,636
no longer reported in 2025 (was €9,636)
of which Other amounts receivable: -€9,525
- Tangible fixed assets -€9,070
down €9,070 (-36.1%), from €25,092 to €16,022
of which Furniture and vehicles: -€8,636
- Other debts +€67,077
up €67,077 (+617%), from €10,868 to €77,945
- Reserves -€63,192
down €63,192 (-35.5%), from €177,959 to €114,768
- Tax, wage and social debts +€2,859
up €2,859 (+84.7%), from €3,375 to €6,234
- Financial income +€3,278
up €3,278 (+4,022%), from €82 to €3,359
- Gross operating margin -€1,709
down €1,709 (-1.6%), from €106,139 to €104,430
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 | €194,902 | €201,822 | +€6,920 | +3.6% |
| Fixed assets | 21/28 | €25,092 | €16,022 | -€9,070 | -36.1% |
| Tangible fixed assets | 22/27 | €25,092 | €16,022 | -€9,070 | -36.1% |
| Plant, machinery and equipment | 23 | €1,143 | €709 | -€434 | -38.0% |
| Furniture and vehicles | 24 | €23,949 | €15,313 | -€8,636 | -36.1% |
| Current assets | 29/58 | €169,810 | €185,800 | +€15,990 | +9.4% |
| Amounts receivable within one year | 40/41 | €9,636 | - | -€9,636 | |
| Trade receivables | 40 | €110 | - | -€110 | |
| Other amounts receivable | 41 | €9,525 | - | -€9,525 | |
| Current investments | 50/53 | €75,000 | €85,400 | +€10,400 | +13.9% |
| Cash at bank and in hand | 54/58 | €65,997 | €92,551 | +€26,554 | +40.2% |
| Deferred charges and accrued income | 490/1 | €19,177 | €7,849 | -€11,328 | -59.1% |
| Total equity and liabilities | 10/49 | €194,902 | €201,822 | +€6,920 | +3.6% |
| Equity | 10/15 | €179,959 | €116,768 | -€63,192 | -35.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €177,959 | €114,768 | -€63,192 | -35.5% |
| Distributable reserves | 133 | €177,959 | €114,768 | -€63,192 | -35.5% |
| Amounts payable | 17/49 | €14,943 | €85,055 | +€70,112 | +469% |
| Amounts payable within one year | 42/48 | €14,943 | €85,055 | +€70,112 | +469% |
| Trade debts | 44 | €699 | €875 | +€176 | +25.1% |
| Suppliers | 440/4 | €699 | €875 | +€176 | +25.1% |
| Taxes, remuneration and social security | 45 | €3,375 | €6,234 | +€2,859 | +84.7% |
| Taxes | 450/3 | €3,375 | €6,234 | +€2,859 | +84.7% |
| Other amounts payable | 47/48 | €10,868 | €77,945 | +€67,077 | +617% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,266 | €9,870 | -€396 | -3.9% |
| Other operating charges | 640/8 | €687 | €757 | +€71 | +10.3% |
| Gross operating margin | 9900 | €106,139 | €104,430 | -€1,709 | -1.6% |
| Operating profit (loss) | 9901 | €95,187 | €93,802 | -€1,385 | -1.5% |
| Financial income | 75/76B | €82 | €3,359 | +€3,278 | +4,022% |
| Recurring financial income | 75 | €82 | €3,359 | +€3,278 | +4,022% |
| Financial charges | 65/66B | €699 | €675 | -€23 | -3.3% |
| Recurring financial charges | 65 | €699 | €675 | -€23 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €94,570 | €96,486 | +€1,916 | +2.0% |
| Income taxes | 67/77 | €19,897 | €20,678 | +€782 | +3.9% |
| Profit (loss) for the period | 9904 | €74,673 | €75,808 | +€1,135 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €74,673 | €75,808 | +€1,135 | +1.5% |
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 18 October 2026 via checked.be.