Dr. Elke Ronsyn: what changed
Dr. Elke Ronsyn
Largest movements
- Cash +€59,556
up €59,556 (+41.1%), from €144,821 to €204,377
mainly Net result for the year (+€125,437) and Depreciation (+€39,462)
- Receivables within one year +€49,547
up €49,547 (+55.0%), from €90,046 to €139,592
of which Trade receivables: +€48,197
- Tangible fixed assets -€33,703
down €33,703 (-22.7%), from €148,624 to €114,921
of which Plant, machinery and equipment: -€31,033
- Reserves +€125,500
up €125,500 (+45.0%), from €278,700 to €404,200
- Tax, wage and social debts -€31,347
down €31,347 (-45.7%), from €68,658 to €37,311
- Other debts -€12,868
down €12,868 (-42.2%), from €30,478 to €17,610
- Depreciation +€2,122
up €2,122 (+5.7%), from €37,340 to €39,462
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 | €390,298 | €467,795 | +€77,497 | +19.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €151,318 | €116,700 | -€34,618 | -22.9% |
| Intangible fixed assets | 21 | €2,694 | €1,779 | -€915 | -34.0% |
| Tangible fixed assets | 22/27 | €148,624 | €114,921 | -€33,703 | -22.7% |
| Plant, machinery and equipment | 23 | €131,496 | €100,463 | -€31,033 | -23.6% |
| Furniture and vehicles | 24 | €6,247 | €4,781 | -€1,466 | -23.5% |
| Other tangible fixed assets | 26 | €10,881 | €9,677 | -€1,204 | -11.1% |
| Current assets | 29/58 | €238,980 | €351,094 | +€112,115 | +46.9% |
| Amounts receivable within one year | 40/41 | €90,046 | €139,592 | +€49,547 | +55.0% |
| Trade receivables | 40 | €90,046 | €138,242 | +€48,197 | +53.5% |
| Other amounts receivable | 41 | - | €1,350 | +€1,350 | |
| Cash at bank and in hand | 54/58 | €144,821 | €204,377 | +€59,556 | +41.1% |
| Deferred charges and accrued income | 490/1 | €4,113 | €7,125 | +€3,012 | +73.2% |
| Total equity and liabilities | 10/49 | €390,298 | €467,795 | +€77,497 | +19.9% |
| Equity | 10/15 | €283,779 | €409,216 | +€125,437 | +44.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €278,700 | €404,200 | +€125,500 | +45.0% |
| Distributable reserves | 133 | €278,700 | €404,200 | +€125,500 | +45.0% |
| Profit (loss) carried forward | 14 | €79 | €16 | -€64 | -80.3% |
| Amounts payable | 17/49 | €106,518 | €58,579 | -€47,939 | -45.0% |
| Amounts payable within one year | 42/48 | €106,518 | €58,579 | -€47,939 | -45.0% |
| Trade debts | 44 | €7,382 | €3,658 | -€3,724 | -50.4% |
| Suppliers | 440/4 | €7,382 | €3,658 | -€3,724 | -50.4% |
| Taxes, remuneration and social security | 45 | €68,658 | €37,311 | -€31,347 | -45.7% |
| Taxes | 450/3 | €68,658 | €37,311 | -€31,347 | -45.7% |
| Other amounts payable | 47/48 | €30,478 | €17,610 | -€12,868 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,340 | €39,462 | +€2,122 | +5.7% |
| Other operating charges | 640/8 | €682 | €701 | +€18 | +2.7% |
| Gross operating margin | 9900 | €201,342 | €201,712 | +€370 | +0.2% |
| Operating profit (loss) | 9901 | €163,319 | €161,550 | -€1,770 | -1.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €77 | €45 | -€32 | -41.2% |
| Recurring financial charges | 65 | €77 | €45 | -€32 | -41.2% |
| Profit (loss) for the period before taxes | 9903 | €163,243 | €161,505 | -€1,738 | -1.1% |
| Income taxes | 67/77 | €36,458 | €36,068 | -€390 | -1.1% |
| Profit (loss) for the period | 9904 | €126,785 | €125,437 | -€1,348 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €126,785 | €125,437 | -€1,348 | -1.1% |
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 1 November 2026 via checked.be.