Dr. Hannah Willems: what changed
Dr. Hannah Willems
Largest movements
- Tangible fixed assets +€69,009
up €69,009 (+339%), from €20,350 to €89,359
of which Furniture and vehicles: +€72,120
- Cash -€41,925
down €41,925 (-33.5%), from €125,144 to €83,218
mainly Contributions, distributions and other (-€148,841) and Investment in fixed assets (net) (-€89,191)
- Deferred charges and accrued income +€6,718
new in 2025: €6,718
- Other debts +€131,493
up €131,493 (+605%), from €21,749 to €153,242
- Reserves -€107,557
down €107,557 (-100%), from €107,557 to €0
- Tax, wage and social debts +€7,326
up €7,326 (+42.5%), from €17,250 to €24,576
of which Taxes: +€7,326
- Short-term financial debts +€1,867
up €1,867 (+58.7%), from €3,181 to €5,048
- Gross operating margin +€29,127
up €29,127 (+65.9%), from €44,215 to €73,341
- Depreciation +€14,981
up €14,981 (+288%), from €5,200 to €20,181
- Taxes +€2,623
up €2,623 (+32.2%), from €8,153 to €10,776
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €152,452 | €185,366 | +€32,914 | +21.6% |
| Fixed assets | 21/28 | €20,350 | €89,359 | +€69,009 | +339% |
| Tangible fixed assets | 22/27 | €20,350 | €89,359 | +€69,009 | +339% |
| Land and buildings | 22 | €11,960 | €9,140 | -€2,820 | -23.6% |
| Plant, machinery and equipment | 23 | €5,751 | €5,461 | -€290 | -5.0% |
| Furniture and vehicles | 24 | €2,639 | €74,758 | +€72,120 | +2,733% |
| Current assets | 29/58 | €132,102 | €96,007 | -€36,095 | -27.3% |
| Amounts receivable within one year | 40/41 | €6,959 | €6,071 | -€888 | -12.8% |
| Trade receivables | 40 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts receivable | 41 | €4,459 | €6,071 | +€1,612 | +36.2% |
| Cash at bank and in hand | 54/58 | €125,144 | €83,218 | -€41,925 | -33.5% |
| Deferred charges and accrued income | 490/1 | - | €6,718 | +€6,718 | |
| Total equity and liabilities | 10/49 | €152,452 | €185,366 | +€32,914 | +21.6% |
| Equity | 10/15 | €110,057 | €2,500 | -€107,557 | -97.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €107,557 | €0 | -€107,557 | -100% |
| Distributable reserves | 133 | €107,557 | €0 | -€107,557 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €42,395 | €182,866 | +€140,471 | +331% |
| Amounts payable within one year | 42/48 | €42,395 | €182,866 | +€140,471 | +331% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €3,181 | €5,048 | +€1,867 | +58.7% |
| Credit institutions | 430/8 | €3,181 | €5,048 | +€1,867 | +58.7% |
| Trade debts | 44 | €215 | €0 | -€215 | -100% |
| Suppliers | 440/4 | €215 | €0 | -€215 | -100% |
| Taxes, remuneration and social security | 45 | €17,250 | €24,576 | +€7,326 | +42.5% |
| Taxes | 450/3 | €17,250 | €24,576 | +€7,326 | +42.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €21,749 | €153,242 | +€131,493 | +605% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,200 | €20,181 | +€14,981 | +288% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €44,215 | €73,341 | +€29,127 | +65.9% |
| Operating profit (loss) | 9901 | €38,445 | €52,574 | +€14,129 | +36.8% |
| Financial income | 75/76B | €0 | €49 | +€49 | +491,400% |
| Recurring financial income | 75 | €0 | €49 | +€49 | +491,400% |
| Financial charges | 65/66B | €191 | €564 | +€373 | +195% |
| Recurring financial charges | 65 | €191 | €564 | +€373 | +195% |
| Profit (loss) for the period before taxes | 9903 | €38,254 | €52,060 | +€13,806 | +36.1% |
| Income taxes | 67/77 | €8,153 | €10,776 | +€2,623 | +32.2% |
| Profit (loss) for the period | 9904 | €30,101 | €41,284 | +€11,183 | +37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,101 | €41,284 | +€11,183 | +37.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.