Dr. Elien Lecomte: 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. Elien Lecomte
Largest movements
- Cash +€115,728
up €115,728 (+105%), from €110,120 to €225,848
mainly Net result for the year (+€198,483) and Other debts (+€76,917)
- Deferred charges and accrued income +€28,606
up €28,606 (+51.2%), from €55,920 to €84,526
- Receivables within one year -€7,455
down €7,455 (-20.0%), from €37,274 to €29,819
- Other debts +€76,917
up €76,917 (+243%), from €31,641 to €108,558
- Reserves +€46,151
up €46,151 (+30.3%), from €152,332 to €198,483
- Tax, wage and social debts +€11,672
up €11,672 (+93.2%), from €12,524 to €24,196
of which Taxes: +€11,672
- Gross operating margin +€64,491
up €64,491 (+32.1%), from €201,157 to €265,648
- Taxes +€15,685
up €15,685 (+34.1%), from €46,053 to €61,738
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 | €203,827 | €340,193 | +€136,366 | +66.9% |
| Fixed assets | 21/28 | €514 | - | -€514 | |
| Tangible fixed assets | 22/27 | €514 | - | -€514 | |
| Plant, machinery and equipment | 23 | €73 | - | -€73 | |
| Furniture and vehicles | 24 | €441 | - | -€441 | |
| Current assets | 29/58 | €203,314 | €340,193 | +€136,879 | +67.3% |
| Amounts receivable within one year | 40/41 | €37,274 | €29,819 | -€7,455 | -20.0% |
| Trade receivables | 40 | €37,274 | €29,819 | -€7,455 | -20.0% |
| Cash at bank and in hand | 54/58 | €110,120 | €225,848 | +€115,728 | +105% |
| Deferred charges and accrued income | 490/1 | €55,920 | €84,526 | +€28,606 | +51.2% |
| Total equity and liabilities | 10/49 | €203,827 | €340,193 | +€136,366 | +66.9% |
| Equity | 10/15 | €153,332 | €199,483 | +€46,151 | +30.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €152,332 | €198,483 | +€46,151 | +30.3% |
| Distributable reserves | 133 | €152,332 | €198,483 | +€46,151 | +30.3% |
| Amounts payable | 17/49 | €50,495 | €140,710 | +€90,214 | +179% |
| Amounts payable within one year | 42/48 | €47,174 | €137,659 | +€90,485 | +192% |
| Trade debts | 44 | €3,009 | €4,905 | +€1,896 | +63.0% |
| Suppliers | 440/4 | €3,009 | €4,905 | +€1,896 | +63.0% |
| Taxes, remuneration and social security | 45 | €12,524 | €24,196 | +€11,672 | +93.2% |
| Taxes | 450/3 | €9,956 | €21,629 | +€11,672 | +117% |
| Remuneration and social security | 454/9 | €2,567 | €2,567 | = | 0.0% |
| Other amounts payable | 47/48 | €31,641 | €108,558 | +€76,917 | +243% |
| Accrued charges and deferred income | 492/3 | €3,322 | €3,051 | -€271 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,174 | €514 | -€660 | -56.3% |
| Other operating charges | 640/8 | €296 | €559 | +€263 | +88.9% |
| Gross operating margin | 9900 | €201,157 | €265,648 | +€64,491 | +32.1% |
| Operating profit (loss) | 9901 | €199,687 | €264,574 | +€64,888 | +32.5% |
| Financial income | 75/76B | €1,399 | €481 | -€918 | -65.6% |
| Recurring financial income | 75 | €1,399 | €481 | -€918 | -65.6% |
| Financial charges | 65/66B | €2,701 | €4,834 | +€2,133 | +79.0% |
| Recurring financial charges | 65 | €2,701 | €4,834 | +€2,133 | +79.0% |
| Profit (loss) for the period before taxes | 9903 | €198,385 | €260,221 | +€61,836 | +31.2% |
| Income taxes | 67/77 | €46,053 | €61,738 | +€15,685 | +34.1% |
| Profit (loss) for the period | 9904 | €152,332 | €198,483 | +€46,151 | +30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €152,332 | €198,483 | +€46,151 | +30.3% |
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 16 October 2026 via checked.be.