Dr. Evelien Veeckman: 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 Veeckman
Largest movements
- Intangible fixed assets -€21,429
down €21,429 (-20.1%), from €106,380 to €84,951
- Cash +€17,890
up €17,890 (+242%), from €7,401 to €25,291
mainly Other debts (+€155,666) and Net result for the year (+€88,599)
- Tangible fixed assets -€14,505
down €14,505 (-21.2%), from €68,395 to €53,890
of which Furniture and vehicles: -€12,255
- Receivables within one year -€6,113
down €6,113 (-89.7%), from €6,816 to €704
of which Other amounts receivable: -€5,330
- Profit (loss) carried forward -€183,794
down €183,794 (-100%), from €183,794 to €0
- Other debts +€155,666
up €155,666 (+1,054%), from €14,774 to €170,440
- Tax, wage and social debts +€2,300
up €2,300 (+80.7%), from €2,850 to €5,150
of which Remuneration and social security: +€2,000
- Gross operating margin +€10,825
up €10,825 (+7.6%), from €142,825 to €153,650
- Taxes +€2,174
up €2,174 (+9.8%), from €22,184 to €24,358
- Depreciation +€1,966
up €1,966 (+5.2%), from €37,546 to €39,513
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 | €206,610 | €181,028 | -€25,582 | -12.4% |
| Fixed assets | 21/28 | €174,775 | €138,841 | -€35,934 | -20.6% |
| Intangible fixed assets | 21 | €106,380 | €84,951 | -€21,429 | -20.1% |
| Tangible fixed assets | 22/27 | €68,395 | €53,890 | -€14,505 | -21.2% |
| Plant, machinery and equipment | 23 | €2,250 | €0 | -€2,250 | -100% |
| Furniture and vehicles | 24 | €53,545 | €41,290 | -€12,255 | -22.9% |
| Other tangible fixed assets | 26 | €12,600 | €12,600 | = | 0.0% |
| Current assets | 29/58 | €31,836 | €42,187 | +€10,351 | +32.5% |
| Amounts receivable within one year | 40/41 | €6,816 | €704 | -€6,113 | -89.7% |
| Trade receivables | 40 | €782 | €0 | -€782 | -100% |
| Other amounts receivable | 41 | €6,034 | €704 | -€5,330 | -88.3% |
| Cash at bank and in hand | 54/58 | €7,401 | €25,291 | +€17,890 | +242% |
| Deferred charges and accrued income | 490/1 | €17,618 | €16,192 | -€1,426 | -8.1% |
| Total equity and liabilities | 10/49 | €206,610 | €181,028 | -€25,582 | -12.4% |
| Equity | 10/15 | €186,294 | €2,500 | -€183,794 | -98.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €183,794 | €0 | -€183,794 | -100% |
| Amounts payable | 17/49 | €20,316 | €178,528 | +€158,212 | +779% |
| Amounts payable within one year | 42/48 | €20,316 | €177,443 | +€157,127 | +773% |
| Trade debts | 44 | €2,692 | €1,852 | -€839 | -31.2% |
| Suppliers | 440/4 | €2,692 | €1,852 | -€839 | -31.2% |
| Taxes, remuneration and social security | 45 | €2,850 | €5,150 | +€2,300 | +80.7% |
| Taxes | 450/3 | €2,850 | €3,150 | +€300 | +10.5% |
| Remuneration and social security | 454/9 | €0 | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €14,774 | €170,440 | +€155,666 | +1,054% |
| Accrued charges and deferred income | 492/3 | €0 | €1,085 | +€1,085 | |
| Remuneration, social security and pensions | 62 | €250 | €250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,546 | €39,513 | +€1,966 | +5.2% |
| Other operating charges | 640/8 | €555 | €825 | +€270 | +48.6% |
| Gross operating margin | 9900 | €142,825 | €153,650 | +€10,825 | +7.6% |
| Operating profit (loss) | 9901 | €104,474 | €113,062 | +€8,588 | +8.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €105 | €104 | -€0 | -0.3% |
| Recurring financial charges | 65 | €105 | €104 | -€0 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €104,369 | €112,958 | +€8,589 | +8.2% |
| Income taxes | 67/77 | €22,184 | €24,358 | +€2,174 | +9.8% |
| Profit (loss) for the period | 9904 | €82,185 | €88,599 | +€6,414 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €82,185 | €88,599 | +€6,414 | +7.8% |
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 17 October 2026 via checked.be.