Dr. Evelien Luyckx: 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. Evelien Luyckx
Largest movements
- Current investments +€13,607
up €13,607 (+54.2%), from €25,125 to €38,732
- Receivables within one year +€6,618
up €6,618 (+4,169%), from €159 to €6,776
of which Trade receivables: +€6,776
- Cash -€1,644
down €1,644 (-10.4%), from €15,783 to €14,140
mainly Contributions, distributions and other (-€54,263) and Current investments (-€13,607)
- Tangible fixed assets -€1,362
down €1,362 (-30.7%), from €4,443 to €3,081
of which Furniture and vehicles: -€1,072
- Other debts +€50,671
up €50,671 (+1,727%), from €2,934 to €53,604
- Reserves -€34,111
down €34,111 (-86.9%), from €39,263 to €5,152
- Tax, wage and social debts +€749
new in 2025: €749
- Gross operating margin +€10,891
up €10,891 (+60.4%), from €18,031 to €28,922
- Taxes +€913
up €913 (+18.9%), from €4,841 to €5,754
- Other operating charges +€560
up €560 (+87.4%), from €641 to €1,201
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 | €45,510 | €62,729 | +€17,219 | +37.8% |
| Fixed assets | 21/28 | €4,443 | €3,081 | -€1,362 | -30.7% |
| Tangible fixed assets | 22/27 | €4,443 | €3,081 | -€1,362 | -30.7% |
| Plant, machinery and equipment | 23 | €1,942 | €1,652 | -€290 | -14.9% |
| Furniture and vehicles | 24 | €2,500 | €1,429 | -€1,072 | -42.9% |
| Current assets | 29/58 | €41,067 | €59,648 | +€18,581 | +45.2% |
| Amounts receivable within one year | 40/41 | €159 | €6,776 | +€6,618 | +4,169% |
| Trade receivables | 40 | - | €6,776 | +€6,776 | |
| Other amounts receivable | 41 | €159 | - | -€159 | |
| Current investments | 50/53 | €25,125 | €38,732 | +€13,607 | +54.2% |
| Cash at bank and in hand | 54/58 | €15,783 | €14,140 | -€1,644 | -10.4% |
| Total equity and liabilities | 10/49 | €45,510 | €62,729 | +€17,219 | +37.8% |
| Equity | 10/15 | €42,263 | €8,152 | -€34,111 | -80.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €39,263 | €5,152 | -€34,111 | -86.9% |
| Distributable reserves | 133 | €39,263 | €5,152 | -€34,111 | -86.9% |
| Amounts payable | 17/49 | €3,247 | €54,577 | +€51,330 | +1,581% |
| Amounts payable within one year | 42/48 | €3,247 | €54,577 | +€51,330 | +1,581% |
| Trade debts | 44 | €313 | €224 | -€89 | -28.5% |
| Suppliers | 440/4 | €313 | €224 | -€89 | -28.5% |
| Taxes, remuneration and social security | 45 | - | €749 | +€749 | |
| Taxes | 450/3 | - | €749 | +€749 | |
| Other amounts payable | 47/48 | €2,934 | €53,604 | +€50,671 | +1,727% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,240 | €1,362 | +€122 | +9.8% |
| Other operating charges | 640/8 | €641 | €1,201 | +€560 | +87.4% |
| Gross operating margin | 9900 | €18,031 | €28,922 | +€10,891 | +60.4% |
| Operating profit (loss) | 9901 | €16,150 | €26,359 | +€10,209 | +63.2% |
| Financial income | 75/76B | €261 | €19 | -€242 | -92.7% |
| Recurring financial income | 75 | €261 | €19 | -€242 | -92.7% |
| Financial charges | 65/66B | €405 | €472 | +€68 | +16.8% |
| Recurring financial charges | 65 | €405 | €472 | +€68 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €16,007 | €25,906 | +€9,899 | +61.8% |
| Income taxes | 67/77 | €4,841 | €5,754 | +€913 | +18.9% |
| Profit (loss) for the period | 9904 | €11,166 | €20,152 | +€8,986 | +80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,166 | €20,152 | +€8,986 | +80.5% |
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 27 October 2026 via checked.be.