Dr Florence Desmidt: 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 Florence Desmidt
Largest movements
- Cash +€91,296
up €91,296 (+126%), from €72,740 to €164,036
mainly Net result for the year (+€91,126) and Depreciation (+€15,513)
- Tangible fixed assets +€9,643
up €9,643 (+16.9%), from €57,195 to €66,839
of which Plant, machinery and equipment: +€11,190
- Receivables within one year +€6,649
up €6,649 (+26.7%), from €24,876 to €31,526
of which Trade receivables: +€17,475
- Reserves +€91,126
up €91,126 (+73.5%), from €123,992 to €215,118
- Short-term financial debts +€14,677
new in 2025: €14,677
- Debts after one year -€8,750
down €8,750 (-44.4%), from €19,687 to €10,937
- Trade debts +€5,861
up €5,861 (+307%), from €1,907 to €7,767
- Tax, wage and social debts +€3,429
up €3,429 (+9.2%), from €37,108 to €40,537
- Gross operating margin -€86,106
down €86,106 (-37.3%), from €230,815 to €144,710
- Financial charges -€38,943
down €38,943 (-96.2%), from €40,480 to €1,537
- Taxes -€20,088
down €20,088 (-35.2%), from €57,108 to €37,019
- Depreciation +€5,815
up €5,815 (+60.0%), from €9,698 to €15,513
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 | €194,938 | €304,453 | +€109,515 | +56.2% |
| Fixed assets | 21/28 | €96,695 | €106,338 | +€9,643 | +10.0% |
| Tangible fixed assets | 22/27 | €57,195 | €66,839 | +€9,643 | +16.9% |
| Plant, machinery and equipment | 23 | - | €11,190 | +€11,190 | |
| Furniture and vehicles | 24 | €57,195 | €55,649 | -€1,547 | -2.7% |
| Financial fixed assets | 28 | €39,500 | €39,500 | = | 0.0% |
| Current assets | 29/58 | €98,243 | €198,115 | +€99,871 | +102% |
| Amounts receivable within one year | 40/41 | €24,876 | €31,526 | +€6,649 | +26.7% |
| Trade receivables | 40 | - | €17,475 | +€17,475 | |
| Other amounts receivable | 41 | €24,876 | €14,050 | -€10,826 | -43.5% |
| Cash at bank and in hand | 54/58 | €72,740 | €164,036 | +€91,296 | +126% |
| Deferred charges and accrued income | 490/1 | €627 | €2,553 | +€1,926 | +307% |
| Total equity and liabilities | 10/49 | €194,938 | €304,453 | +€109,515 | +56.2% |
| Equity | 10/15 | €126,492 | €217,618 | +€91,126 | +72.0% |
| 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 | €123,992 | €215,118 | +€91,126 | +73.5% |
| Distributable reserves | 133 | €123,992 | €215,118 | +€91,126 | +73.5% |
| Amounts payable | 17/49 | €68,446 | €86,835 | +€18,388 | +26.9% |
| Amounts payable after more than one year | 17 | €19,687 | €10,937 | -€8,750 | -44.4% |
| Financial debts | 170/4 | €19,687 | €10,937 | -€8,750 | -44.4% |
| Amounts payable within one year | 42/48 | €47,764 | €71,731 | +€23,967 | +50.2% |
| Current portion of amounts payable after more than one year | 42 | €8,750 | €8,750 | = | 0.0% |
| Financial debts | 43 | - | €14,677 | +€14,677 | |
| Other loans | 439 | - | €14,677 | +€14,677 | |
| Trade debts | 44 | €1,907 | €7,767 | +€5,861 | +307% |
| Suppliers | 440/4 | €1,907 | €7,767 | +€5,861 | +307% |
| Taxes, remuneration and social security | 45 | €37,108 | €40,537 | +€3,429 | +9.2% |
| Taxes | 450/3 | €37,108 | €40,537 | +€3,429 | +9.2% |
| Accrued charges and deferred income | 492/3 | €995 | €4,167 | +€3,172 | +319% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,698 | €15,513 | +€5,815 | +60.0% |
| Other operating charges | 640/8 | €908 | €820 | -€87 | -9.6% |
| Gross operating margin | 9900 | €230,815 | €144,710 | -€86,106 | -37.3% |
| Operating profit (loss) | 9901 | €220,209 | €128,376 | -€91,833 | -41.7% |
| Financial income | 75/76B | €1,370 | €1,306 | -€64 | -4.7% |
| Recurring financial income | 75 | €1,370 | €1,306 | -€64 | -4.7% |
| Financial charges | 65/66B | €40,480 | €1,537 | -€38,943 | -96.2% |
| Recurring financial charges | 65 | €40,480 | €1,537 | -€38,943 | -96.2% |
| Profit (loss) for the period before taxes | 9903 | €181,100 | €128,146 | -€52,954 | -29.2% |
| Income taxes | 67/77 | €57,108 | €37,019 | -€20,088 | -35.2% |
| Profit (loss) for the period | 9904 | €123,992 | €91,126 | -€32,866 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €123,992 | €91,126 | -€32,866 | -26.5% |
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 19 October 2026 via checked.be.