Dr. Hanne Maes: 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. Hanne Maes
Largest movements
- Cash -€30,074
down €30,074 (-50.4%), from €59,649 to €29,574
mainly Other debts (-€223,325) and Deferred charges and accrued income (-€25,142)
- Deferred charges and accrued income +€25,142
up €25,142 (+15.3%), from €164,079 to €189,222
- Tangible fixed assets +€14,475
up €14,475 (+136%), from €10,639 to €25,114
of which Furniture and vehicles: +€9,805
- Receivables within one year -€5,204
down €5,204 (-51.5%), from €10,098 to €4,894
- Profit (loss) carried forward +€228,861
up €228,861, from €0 to €228,861
- Other debts -€223,325
down €223,325 (-99.0%), from €225,654 to €2,329
- Gross operating margin +€5,952
up €5,952 (+2.0%), from €298,410 to €304,363
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 | €247,131 | €251,471 | +€4,339 | +1.8% |
| Fixed assets | 21/28 | €13,305 | €27,781 | +€14,475 | +109% |
| Tangible fixed assets | 22/27 | €10,639 | €25,114 | +€14,475 | +136% |
| Plant, machinery and equipment | 23 | - | €3,608 | +€3,608 | |
| Furniture and vehicles | 24 | €2,959 | €12,764 | +€9,805 | +331% |
| Other tangible fixed assets | 26 | €7,680 | €8,742 | +€1,062 | +13.8% |
| Financial fixed assets | 28 | €2,667 | €2,667 | = | 0.0% |
| Current assets | 29/58 | €233,826 | €223,690 | -€10,136 | -4.3% |
| Amounts receivable within one year | 40/41 | €10,098 | €4,894 | -€5,204 | -51.5% |
| Other amounts receivable | 41 | €10,098 | €4,894 | -€5,204 | -51.5% |
| Cash at bank and in hand | 54/58 | €59,649 | €29,574 | -€30,074 | -50.4% |
| Deferred charges and accrued income | 490/1 | €164,079 | €189,222 | +€25,142 | +15.3% |
| Total equity and liabilities | 10/49 | €247,131 | €251,471 | +€4,339 | +1.8% |
| Equity | 10/15 | €6,276 | €235,137 | +€228,861 | +3,647% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €1,276 | €1,276 | = | 0.0% |
| Distributable reserves | 133 | €1,276 | €1,276 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €228,861 | +€228,861 | |
| Amounts payable | 17/49 | €240,856 | €16,334 | -€224,522 | -93.2% |
| Amounts payable within one year | 42/48 | €240,856 | €16,334 | -€224,522 | -93.2% |
| Trade debts | 44 | €2,253 | €1,056 | -€1,197 | -53.1% |
| Suppliers | 440/4 | €2,253 | €1,056 | -€1,197 | -53.1% |
| Taxes, remuneration and social security | 45 | €12,949 | €12,949 | = | 0.0% |
| Taxes | 450/3 | €10,799 | €10,799 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,150 | €2,150 | = | 0.0% |
| Other amounts payable | 47/48 | €225,654 | €2,329 | -€223,325 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,708 | €2,630 | +€922 | +54.0% |
| Other operating charges | 640/8 | €513 | €2,473 | +€1,960 | +382% |
| Gross operating margin | 9900 | €298,410 | €304,363 | +€5,952 | +2.0% |
| Operating profit (loss) | 9901 | €296,189 | €299,259 | +€3,070 | +1.0% |
| Financial income | 75/76B | €87 | €0 | -€87 | -100.0% |
| Recurring financial income | 75 | €87 | €0 | -€87 | -100.0% |
| Financial charges | 65/66B | €824 | €293 | -€531 | -64.5% |
| Recurring financial charges | 65 | €824 | €293 | -€531 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | €295,453 | €298,967 | +€3,514 | +1.2% |
| Income taxes | 67/77 | €69,799 | €70,106 | +€307 | +0.4% |
| Profit (loss) for the period | 9904 | €225,654 | €228,861 | +€3,207 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €225,654 | €228,861 | +€3,207 | +1.4% |
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 30 October 2026 via checked.be.