DR. HELEEN AMEYE: 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. HELEEN AMEYE
Largest movements
- Intangible fixed assets +€314,064
new in 2025: €314,064
- Cash -€182,850
down €182,850 (-70.9%), from €258,069 to €75,219
mainly Contributions, distributions and other (-€338,000) and Investment in fixed assets (net) (-€326,771)
- Deferred charges and accrued income +€18,934
up €18,934 (+19.8%), from €95,863 to €114,796
- Debts after one year +€243,327
new in 2025: €243,327
- Reserves -€185,982
down €185,982 (-56.8%), from €327,159 to €141,177
- Current portion of long-term debt +€56,673
new in 2025: €56,673
- Other debts +€34,154
up €34,154 (+217%), from €15,713 to €49,867
- Tax, wage and social debts +€5,797
up €5,797 (+141%), from €4,109 to €9,906
- Gross operating margin +€26,398
up €26,398 (+15.0%), from €175,623 to €202,020
- Depreciation +€4,780
up €4,780 (+130%), from €3,678 to €8,458
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 | €354,746 | €508,633 | +€153,887 | +43.4% |
| Fixed assets | 21/28 | €304 | €318,617 | +€318,313 | +104,681% |
| Intangible fixed assets | 21 | - | €314,064 | +€314,064 | |
| Tangible fixed assets | 22/27 | €304 | €4,553 | +€4,249 | +1,397% |
| Plant, machinery and equipment | 23 | €297 | - | -€297 | |
| Furniture and vehicles | 24 | €7 | €4,553 | +€4,546 | +66,660% |
| Current assets | 29/58 | €354,442 | €190,015 | -€164,427 | -46.4% |
| Amounts receivable within one year | 40/41 | €510 | - | -€510 | |
| Trade receivables | 40 | €510 | - | -€510 | |
| Cash at bank and in hand | 54/58 | €258,069 | €75,219 | -€182,850 | -70.9% |
| Deferred charges and accrued income | 490/1 | €95,863 | €114,796 | +€18,934 | +19.8% |
| Total equity and liabilities | 10/49 | €354,746 | €508,633 | +€153,887 | +43.4% |
| Equity | 10/15 | €332,159 | €146,177 | -€185,982 | -56.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €327,159 | €141,177 | -€185,982 | -56.8% |
| Distributable reserves | 133 | €327,159 | €141,177 | -€185,982 | -56.8% |
| Amounts payable | 17/49 | €22,587 | €362,456 | +€339,869 | +1,505% |
| Amounts payable after more than one year | 17 | - | €243,327 | +€243,327 | |
| Financial debts | 170/4 | - | €243,327 | +€243,327 | |
| Amounts payable within one year | 42/48 | €21,869 | €117,972 | +€96,103 | +439% |
| Current portion of amounts payable after more than one year | 42 | - | €56,673 | +€56,673 | |
| Trade debts | 44 | €2,047 | €1,526 | -€520 | -25.4% |
| Suppliers | 440/4 | €2,047 | €1,526 | -€520 | -25.4% |
| Taxes, remuneration and social security | 45 | €4,109 | €9,906 | +€5,797 | +141% |
| Taxes | 450/3 | €4,109 | €9,906 | +€5,797 | +141% |
| Other amounts payable | 47/48 | €15,713 | €49,867 | +€34,154 | +217% |
| Accrued charges and deferred income | 492/3 | €718 | €1,156 | +€439 | +61.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,678 | €8,458 | +€4,780 | +130% |
| Other operating charges | 640/8 | €1,031 | €792 | -€239 | -23.1% |
| Gross operating margin | 9900 | €175,623 | €202,020 | +€26,398 | +15.0% |
| Operating profit (loss) | 9901 | €170,914 | €192,770 | +€21,856 | +12.8% |
| Financial income | 75/76B | €3,131 | €2,619 | -€512 | -16.4% |
| Recurring financial income | 75 | €3,131 | €2,619 | -€512 | -16.4% |
| Financial charges | 65/66B | €1,135 | €1,977 | +€842 | +74.2% |
| Recurring financial charges | 65 | €1,135 | €1,977 | +€842 | +74.2% |
| Profit (loss) for the period before taxes | 9903 | €172,911 | €193,412 | +€20,502 | +11.9% |
| Income taxes | 67/77 | €39,741 | €41,395 | +€1,653 | +4.2% |
| Profit (loss) for the period | 9904 | €133,169 | €152,018 | +€18,849 | +14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €133,169 | €152,018 | +€18,849 | +14.2% |
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 31 October 2026 via checked.be.