Dr. Elisabeth Decarne: what changed
Dr. Elisabeth Decarne
Largest movements
- Receivables within one year -€33,220
down €33,220 (-38.5%), from €86,208 to €52,988
of which Other amounts receivable: -€33,220
- Cash -€17,861
down €17,861 (-52.8%), from €33,821 to €15,960
mainly Other debts (-€59,614) and Current portion of long-term debt (-€9,041)
- Intangible fixed assets -€7,014
down €7,014 (-33.3%), from €21,043 to €14,029
- Deferred charges and accrued income +€6,075
up €6,075 (+185%), from €3,279 to €9,355
- Tangible fixed assets -€5,240
down €5,240 (-14.2%), from €36,836 to €31,596
of which Leasing and similar rights: -€8,235
- Other debts -€59,614
down €59,614 (-49.7%), from €120,000 to €60,386
- Reserves +€9,270
up €9,270 (+52.8%), from €17,573 to €26,843
- Current portion of long-term debt -€9,041
down €9,041 (-51.9%), from €17,424 to €8,383
- Debts after one year -€8,383
down €8,383 (-51.8%), from €16,191 to €7,808
- Trade debts +€8,370
new in 2025: €8,370
- Gross operating margin -€57,935
down €57,935 (-62.5%), from €92,714 to €34,779
- Taxes -€13,123
down €13,123 (-92.7%), from €14,160 to €1,037
- Financial income -€6,496
down €6,496 (-100%), from €6,496 to €0
- Financial charges +€1,695
up €1,695 (+156%), from €1,087 to €2,782
- Depreciation +€1,291
up €1,291 (+7.0%), from €18,441 to €19,732
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €181,188 | €123,928 | -€57,260 | -31.6% |
| Fixed assets | 21/28 | €57,879 | €45,625 | -€12,255 | -21.2% |
| Intangible fixed assets | 21 | €21,043 | €14,029 | -€7,014 | -33.3% |
| Tangible fixed assets | 22/27 | €36,836 | €31,596 | -€5,240 | -14.2% |
| Land and buildings | 22 | €1,705 | €1,493 | -€212 | -12.4% |
| Furniture and vehicles | 24 | €994 | €6,651 | +€5,657 | +569% |
| Leasing and similar rights | 25 | €24,029 | €15,794 | -€8,235 | -34.3% |
| Other tangible fixed assets | 26 | €10,108 | €7,658 | -€2,450 | -24.2% |
| Current assets | 29/58 | €123,309 | €78,303 | -€45,006 | -36.5% |
| Amounts receivable within one year | 40/41 | €86,208 | €52,988 | -€33,220 | -38.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €86,208 | €52,988 | -€33,220 | -38.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €33,821 | €15,960 | -€17,861 | -52.8% |
| Deferred charges and accrued income | 490/1 | €3,279 | €9,355 | +€6,075 | +185% |
| Total equity and liabilities | 10/49 | €181,188 | €123,928 | -€57,260 | -31.6% |
| Equity | 10/15 | €27,573 | €36,843 | +€9,270 | +33.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €17,573 | €26,843 | +€9,270 | +52.8% |
| Distributable reserves | 133 | €17,573 | €26,843 | +€9,270 | +52.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €153,615 | €87,085 | -€66,530 | -43.3% |
| Amounts payable after more than one year | 17 | €16,191 | €7,808 | -€8,383 | -51.8% |
| Financial debts | 170/4 | €16,191 | €7,808 | -€8,383 | -51.8% |
| Amounts payable within one year | 42/48 | €137,424 | €77,139 | -€60,285 | -43.9% |
| Current portion of amounts payable after more than one year | 42 | €17,424 | €8,383 | -€9,041 | -51.9% |
| Trade debts | 44 | - | €8,370 | +€8,370 | |
| Suppliers | 440/4 | - | €8,370 | +€8,370 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €120,000 | €60,386 | -€59,614 | -49.7% |
| Accrued charges and deferred income | 492/3 | - | €2,138 | +€2,138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,441 | €19,732 | +€1,291 | +7.0% |
| Other operating charges | 640/8 | €1,996 | €1,958 | -€39 | -1.9% |
| Gross operating margin | 9900 | €92,714 | €34,779 | -€57,935 | -62.5% |
| Operating profit (loss) | 9901 | €72,277 | €13,089 | -€59,188 | -81.9% |
| Financial income | 75/76B | €6,496 | €0 | -€6,496 | -100% |
| Recurring financial income | 75 | €6,496 | €0 | -€6,496 | -100% |
| Financial charges | 65/66B | €1,087 | €2,782 | +€1,695 | +156% |
| Recurring financial charges | 65 | €1,087 | €2,782 | +€1,695 | +156% |
| Profit (loss) for the period before taxes | 9903 | €77,686 | €10,307 | -€67,379 | -86.7% |
| Income taxes | 67/77 | €14,160 | €1,037 | -€13,123 | -92.7% |
| Profit (loss) for the period | 9904 | €63,527 | €9,270 | -€54,256 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,527 | €9,270 | -€54,256 | -85.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.