DR. CÉLINE CAESTECKER: 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. CÉLINE CAESTECKER
Largest movements
- Tangible fixed assets -€21,148
down €21,148 (-30.8%), from €68,567 to €47,419
- Cash +€12,161
up €12,161 (+18.2%), from €66,787 to €78,948
mainly Net result for the year (+€226,449) and Depreciation (+€22,132)
- Deferred charges and accrued income -€12,101
down €12,101 (-8.2%), from €148,088 to €135,987
- Receivables within one year -€10,454
down €10,454 (-48.3%), from €21,635 to €11,182
- Profit (loss) carried forward +€226,449
up €226,449, from €0 to €226,449
- Other debts -€215,399
down €215,399 (-100%), from €215,399 to €0
- Debts after one year -€24,590
down €24,590 (-70.0%), from €35,153 to €10,564
- Tax, wage and social debts -€21,837
down €21,837 (-94.0%), from €23,227 to €1,390
- Trade debts +€4,041
up €4,041 (+350%), from €1,156 to €5,197
- Gross operating margin +€13,346
up €13,346 (+4.3%), from €309,332 to €322,678
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 | €305,077 | €273,535 | -€31,542 | -10.3% |
| Fixed assets | 21/28 | €68,567 | €47,419 | -€21,148 | -30.8% |
| Tangible fixed assets | 22/27 | €68,567 | €47,419 | -€21,148 | -30.8% |
| Furniture and vehicles | 24 | €68,567 | €47,419 | -€21,148 | -30.8% |
| Current assets | 29/58 | €236,510 | €226,116 | -€10,394 | -4.4% |
| Amounts receivable within one year | 40/41 | €21,635 | €11,182 | -€10,454 | -48.3% |
| Other amounts receivable | 41 | €21,635 | €11,182 | -€10,454 | -48.3% |
| Cash at bank and in hand | 54/58 | €66,787 | €78,948 | +€12,161 | +18.2% |
| Deferred charges and accrued income | 490/1 | €148,088 | €135,987 | -€12,101 | -8.2% |
| Total equity and liabilities | 10/49 | €305,077 | €273,535 | -€31,542 | -10.3% |
| Equity | 10/15 | €5,000 | €231,449 | +€226,449 | +4,529% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €226,449 | +€226,449 | |
| Amounts payable | 17/49 | €300,077 | €42,087 | -€257,991 | -86.0% |
| Amounts payable after more than one year | 17 | €35,153 | €10,564 | -€24,590 | -70.0% |
| Financial debts | 170/4 | €35,153 | €10,564 | -€24,590 | -70.0% |
| Amounts payable within one year | 42/48 | €264,924 | €31,187 | -€233,737 | -88.2% |
| Current portion of amounts payable after more than one year | 42 | €23,550 | €24,590 | +€1,040 | +4.4% |
| Financial debts | 43 | €1,593 | €10 | -€1,583 | -99.4% |
| Credit institutions | 430/8 | €1,593 | €10 | -€1,583 | -99.4% |
| Trade debts | 44 | €1,156 | €5,197 | +€4,041 | +350% |
| Suppliers | 440/4 | €1,156 | €5,197 | +€4,041 | +350% |
| Taxes, remuneration and social security | 45 | €23,227 | €1,390 | -€21,837 | -94.0% |
| Taxes | 450/3 | €23,227 | €1,390 | -€21,837 | -94.0% |
| Other amounts payable | 47/48 | €215,399 | €0 | -€215,399 | -100% |
| Accrued charges and deferred income | 492/3 | - | €336 | +€336 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,019 | €22,132 | +€113 | +0.5% |
| Other operating charges | 640/8 | €1,123 | €1,157 | +€34 | +3.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €309,332 | €322,678 | +€13,346 | +4.3% |
| Operating profit (loss) | 9901 | €286,191 | €299,389 | +€13,198 | +4.6% |
| Financial income | 75/76B | €641 | €641 | +€0 | 0.0% |
| Recurring financial income | 75 | €641 | €641 | +€0 | 0.0% |
| Financial charges | 65/66B | €3,206 | €2,191 | -€1,015 | -31.7% |
| Recurring financial charges | 65 | €3,206 | €2,191 | -€1,015 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €283,625 | €297,839 | +€14,213 | +5.0% |
| Income taxes | 67/77 | €68,227 | €71,390 | +€3,163 | +4.6% |
| Profit (loss) for the period | 9904 | €215,399 | €226,449 | +€11,050 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €215,399 | €226,449 | +€11,050 | +5.1% |
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 19 October 2026 via checked.be.