DR ELLEN LOCCUFIER: 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 ELLEN LOCCUFIER
Largest movements
- Cash +€110,952
up €110,952 (+76.1%), from €145,755 to €256,707
mainly Net result for the year (+€105,196) and Deferred charges and accrued income (+€4,401)
- Deferred charges and accrued income -€4,401
down €4,401 (-57.3%), from €7,684 to €3,283
- Reserves +€105,196
up €105,196 (+87.5%), from €120,281 to €225,477
- Tax, wage and social debts -€5,247
down €5,247 (-15.3%), from €34,210 to €28,963
- Accrued charges and deferred income +€4,012
new in 2025: €4,012
- Gross operating margin -€18,988
down €18,988 (-12.2%), from €155,120 to €136,132
- Taxes -€5,247
down €5,247 (-15.3%), from €34,210 to €28,963
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 | €157,036 | €263,521 | +€106,485 | +67.8% |
| Fixed assets | 21/28 | €1,086 | €2,679 | +€1,593 | +147% |
| Tangible fixed assets | 22/27 | €1,086 | €2,679 | +€1,593 | +147% |
| Plant, machinery and equipment | 23 | - | €2,136 | +€2,136 | |
| Furniture and vehicles | 24 | €1,086 | €543 | -€543 | -50.0% |
| Current assets | 29/58 | €155,950 | €260,842 | +€104,892 | +67.3% |
| Amounts receivable within one year | 40/41 | €2,511 | €853 | -€1,659 | -66.0% |
| Trade receivables | 40 | - | €853 | +€853 | |
| Other amounts receivable | 41 | €2,511 | - | -€2,511 | |
| Cash at bank and in hand | 54/58 | €145,755 | €256,707 | +€110,952 | +76.1% |
| Deferred charges and accrued income | 490/1 | €7,684 | €3,283 | -€4,401 | -57.3% |
| Total equity and liabilities | 10/49 | €157,036 | €263,521 | +€106,485 | +67.8% |
| Equity | 10/15 | €122,781 | €227,977 | +€105,196 | +85.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Contributions outside capital | 11 | €2,500 | €2,500 | = | 0.0% |
| Other | 1109/19 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €120,281 | €225,477 | +€105,196 | +87.5% |
| Distributable reserves | 133 | €120,281 | €225,477 | +€105,196 | +87.5% |
| Amounts payable | 17/49 | €34,255 | €35,545 | +€1,290 | +3.8% |
| Amounts payable within one year | 42/48 | €34,255 | €31,533 | -€2,722 | -7.9% |
| Trade debts | 44 | €45 | - | -€45 | |
| Suppliers | 440/4 | €45 | - | -€45 | |
| Taxes, remuneration and social security | 45 | €34,210 | €28,963 | -€5,247 | -15.3% |
| Taxes | 450/3 | €34,210 | €28,963 | -€5,247 | -15.3% |
| Other amounts payable | 47/48 | - | €2,570 | +€2,570 | |
| Accrued charges and deferred income | 492/3 | - | €4,012 | +€4,012 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €543 | €1,607 | +€1,064 | +196% |
| Other operating charges | 640/8 | €200 | €310 | +€110 | +54.9% |
| Gross operating margin | 9900 | €155,120 | €136,132 | -€18,988 | -12.2% |
| Operating profit (loss) | 9901 | €154,377 | €134,216 | -€20,161 | -13.1% |
| Financial income | 75/76B | €167 | - | -€167 | |
| Recurring financial income | 75 | €167 | - | -€167 | |
| Financial charges | 65/66B | €53 | €57 | +€4 | +7.8% |
| Recurring financial charges | 65 | €53 | €57 | +€4 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €154,491 | €134,159 | -€20,332 | -13.2% |
| Income taxes | 67/77 | €34,210 | €28,963 | -€5,247 | -15.3% |
| Profit (loss) for the period | 9904 | €120,281 | €105,196 | -€15,085 | -12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €120,281 | €105,196 | -€15,085 | -12.5% |
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 14 October 2026 via checked.be.