Dr Cathy FERON: 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 Cathy FERON
Largest movements
- Cash +€21,349
up €21,349 (+36.7%), from €58,226 to €79,575
mainly Other debts (+€69,000) and Net result for the year (+€21,190)
- Tangible fixed assets -€4,907
down €4,907 (-48.0%), from €10,223 to €5,316
- Other debts +€69,000
up €69,000 (+1,150%), from €6,000 to €75,000
- Profit (loss) carried forward -€53,810
down €53,810 (-90.4%), from €59,524 to €5,714
- Gross operating margin +€3,217
up €3,217 (+11.0%), from €29,249 to €32,466
- Turnover -€3,073
down €3,073 (-3.0%), from €101,332 to €98,259
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 | €72,499 | €88,299 | +€15,800 | +21.8% |
| Fixed assets | 21/28 | €10,223 | €5,316 | -€4,907 | -48.0% |
| Tangible fixed assets | 22/27 | €10,223 | €5,316 | -€4,907 | -48.0% |
| Furniture and vehicles | 24 | €10,223 | €5,316 | -€4,907 | -48.0% |
| Current assets | 29/58 | €62,276 | €82,983 | +€20,707 | +33.3% |
| Amounts receivable within one year | 40/41 | €3,482 | €2,820 | -€662 | -19.0% |
| Other amounts receivable | 41 | €3,482 | €2,820 | -€662 | -19.0% |
| Cash at bank and in hand | 54/58 | €58,226 | €79,575 | +€21,349 | +36.7% |
| Deferred charges and accrued income | 490/1 | €568 | €588 | +€20 | +3.5% |
| Total equity and liabilities | 10/49 | €72,499 | €88,299 | +€15,800 | +21.8% |
| Equity | 10/15 | €61,524 | €7,714 | -€53,810 | -87.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,524 | €5,714 | -€53,810 | -90.4% |
| Amounts payable | 17/49 | €10,975 | €80,585 | +€69,610 | +634% |
| Amounts payable within one year | 42/48 | €10,975 | €80,585 | +€69,610 | +634% |
| Trade debts | 44 | €274 | €124 | -€150 | -54.7% |
| Suppliers | 440/4 | €274 | €124 | -€150 | -54.7% |
| Taxes, remuneration and social security | 45 | €4,701 | €5,461 | +€760 | +16.2% |
| Taxes | 450/3 | €4,701 | €5,461 | +€760 | +16.2% |
| Other amounts payable | 47/48 | €6,000 | €75,000 | +€69,000 | +1,150% |
| Turnover | 70 | €101,332 | €98,259 | -€3,073 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,194 | €4,907 | -€287 | -5.5% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €29,249 | €32,466 | +€3,217 | +11.0% |
| Operating profit (loss) | 9901 | €24,055 | €27,496 | +€3,441 | +14.3% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €24,010 | €27,451 | +€3,441 | +14.3% |
| Income taxes | 67/77 | €5,450 | €6,261 | +€811 | +14.9% |
| Profit (loss) for the period | 9904 | €18,560 | €21,190 | +€2,630 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,560 | €21,190 | +€2,630 | +14.2% |
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 29 October 2026 via checked.be.