Dr. Evi Rogiers: 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. Evi Rogiers
Largest movements
- Receivables within one year -€64,537
down €64,537 (-49.5%), from €130,259 to €65,722
of which Other amounts receivable: -€61,323
- Cash -€13,428
down €13,428 (-22.2%), from €60,556 to €47,128
mainly Contributions, distributions and other (-€305,000) and Trade debts (-€743)
- Tangible fixed assets -€9,354
down €9,354 (-31.6%), from €29,574 to €20,220
- Reserves -€196,060
down €196,060 (-93.0%), from €210,860 to €14,800
- Other debts +€105,000
new in 2025: €105,000
- Tax, wage and social debts +€4,484
up €4,484 (+78.1%), from €5,744 to €10,227
- Gross operating margin +€15,347
up €15,347 (+11.7%), from €131,198 to €146,546
- Taxes +€4,421
up €4,421 (+15.9%), from €27,853 to €32,274
- Financial income +€3,275
up €3,275 (+98.9%), from €3,310 to €6,586
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 | €220,388 | €133,070 | -€87,318 | -39.6% |
| Fixed assets | 21/28 | €29,574 | €20,220 | -€9,354 | -31.6% |
| Tangible fixed assets | 22/27 | €29,574 | €20,220 | -€9,354 | -31.6% |
| Furniture and vehicles | 24 | €29,574 | €20,220 | -€9,354 | -31.6% |
| Current assets | 29/58 | €190,815 | €112,850 | -€77,965 | -40.9% |
| Amounts receivable within one year | 40/41 | €130,259 | €65,722 | -€64,537 | -49.5% |
| Trade receivables | 40 | €25,024 | €21,810 | -€3,214 | -12.8% |
| Other amounts receivable | 41 | €105,235 | €43,912 | -€61,323 | -58.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €60,556 | €47,128 | -€13,428 | -22.2% |
| Total equity and liabilities | 10/49 | €220,388 | €133,070 | -€87,318 | -39.6% |
| Equity | 10/15 | €213,360 | €17,300 | -€196,060 | -91.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €210,860 | €14,800 | -€196,060 | -93.0% |
| Distributable reserves | 133 | €210,860 | €14,800 | -€196,060 | -93.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €7,028 | €115,770 | +€108,741 | +1,547% |
| Amounts payable within one year | 42/48 | €7,028 | €115,770 | +€108,741 | +1,547% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,285 | €542 | -€743 | -57.8% |
| Suppliers | 440/4 | €1,285 | €542 | -€743 | -57.8% |
| Taxes, remuneration and social security | 45 | €5,744 | €10,227 | +€4,484 | +78.1% |
| Taxes | 450/3 | €5,744 | €10,227 | +€4,484 | +78.1% |
| Other amounts payable | 47/48 | - | €105,000 | +€105,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,106 | €9,354 | +€1,248 | +15.4% |
| Other operating charges | 640/8 | €3,123 | €1,758 | -€1,365 | -43.7% |
| Gross operating margin | 9900 | €131,198 | €146,546 | +€15,347 | +11.7% |
| Operating profit (loss) | 9901 | €119,970 | €135,434 | +€15,464 | +12.9% |
| Financial income | 75/76B | €3,310 | €6,586 | +€3,275 | +98.9% |
| Recurring financial income | 75 | €3,310 | €6,586 | +€3,275 | +98.9% |
| Financial charges | 65/66B | €496 | €805 | +€309 | +62.3% |
| Recurring financial charges | 65 | €496 | €805 | +€309 | +62.3% |
| Profit (loss) for the period before taxes | 9903 | €122,784 | €141,214 | +€18,430 | +15.0% |
| Income taxes | 67/77 | €27,853 | €32,274 | +€4,421 | +15.9% |
| Profit (loss) for the period | 9904 | €94,931 | €108,940 | +€14,009 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €94,931 | €108,940 | +€14,009 | +14.8% |
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 20 October 2026 via checked.be.