Dr. Edith Devos: 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. Edith Devos
Largest movements
- Receivables within one year +€66,085
new in 2025: €66,085
- Cash +€41,455
up €41,455 (+82.4%), from €50,282 to €91,737
mainly Net result for the year (+€89,280) and Tax, wage and social debts (+€25,424)
- Tangible fixed assets -€6,890
down €6,890 (-23.2%), from €29,644 to €22,755
- Reserves +€89,280
up €89,280 (+310%), from €28,840 to €118,120
- Tax, wage and social debts +€25,424
up €25,424 (+224%), from €11,369 to €36,793
- Debts after one year -€10,800
down €10,800 (-62.4%), from €17,295 to €6,495
- Trade debts -€3,738
down €3,738 (-82.7%), from €4,520 to €782
- Gross operating margin +€88,281
up €88,281 (+190%), from €46,415 to €134,695
- Taxes +€25,424
up €25,424 (+224%), from €11,369 to €36,793
- Depreciation +€2,132
up €2,132 (+44.8%), from €4,758 to €6,890
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 | €85,598 | €186,309 | +€100,711 | +118% |
| Fixed assets | 21/28 | €29,644 | €22,755 | -€6,890 | -23.2% |
| Tangible fixed assets | 22/27 | €29,644 | €22,755 | -€6,890 | -23.2% |
| Furniture and vehicles | 24 | €29,644 | €22,755 | -€6,890 | -23.2% |
| Current assets | 29/58 | €55,954 | €163,555 | +€107,601 | +192% |
| Amounts receivable within one year | 40/41 | - | €66,085 | +€66,085 | |
| Other amounts receivable | 41 | - | €66,085 | +€66,085 | |
| Cash at bank and in hand | 54/58 | €50,282 | €91,737 | +€41,455 | +82.4% |
| Deferred charges and accrued income | 490/1 | €5,672 | €5,733 | +€61 | +1.1% |
| Total equity and liabilities | 10/49 | €85,598 | €186,309 | +€100,711 | +118% |
| Equity | 10/15 | €29,840 | €119,120 | +€89,280 | +299% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €28,840 | €118,120 | +€89,280 | +310% |
| Distributable reserves | 133 | €28,840 | €118,120 | +€89,280 | +310% |
| Amounts payable | 17/49 | €55,758 | €67,189 | +€11,431 | +20.5% |
| Amounts payable after more than one year | 17 | €17,295 | €6,495 | -€10,800 | -62.4% |
| Financial debts | 170/4 | €17,295 | €6,495 | -€10,800 | -62.4% |
| Amounts payable within one year | 42/48 | €38,463 | €60,695 | +€22,231 | +57.8% |
| Current portion of amounts payable after more than one year | 42 | €10,394 | €10,800 | +€407 | +3.9% |
| Trade debts | 44 | €4,520 | €782 | -€3,738 | -82.7% |
| Suppliers | 440/4 | €4,520 | €782 | -€3,738 | -82.7% |
| Taxes, remuneration and social security | 45 | €11,369 | €36,793 | +€25,424 | +224% |
| Taxes | 450/3 | €11,369 | €36,793 | +€25,424 | +224% |
| Other amounts payable | 47/48 | €12,180 | €12,319 | +€140 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,758 | €6,890 | +€2,132 | +44.8% |
| Other operating charges | 640/8 | €761 | €760 | -€1 | -0.2% |
| Gross operating margin | 9900 | €46,415 | €134,695 | +€88,281 | +190% |
| Operating profit (loss) | 9901 | €40,896 | €127,046 | +€86,150 | +211% |
| Financial income | 75/76B | €0 | €51 | +€51 | +514,400% |
| Recurring financial income | 75 | €0 | €51 | +€51 | +514,400% |
| Financial charges | 65/66B | €687 | €1,024 | +€337 | +49.1% |
| Recurring financial charges | 65 | €687 | €1,024 | +€337 | +49.1% |
| Profit (loss) for the period before taxes | 9903 | €40,209 | €126,073 | +€85,864 | +214% |
| Income taxes | 67/77 | €11,369 | €36,793 | +€25,424 | +224% |
| Profit (loss) for the period | 9904 | €28,840 | €89,280 | +€60,440 | +210% |
| Profit (loss) for the period to be appropriated | 9905 | €28,840 | €89,280 | +€60,440 | +210% |
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 28 October 2026 via checked.be.