DR. Hilde De Wit: 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. Hilde De Wit
Largest movements
- Cash +€71,529
up €71,529 (+84.0%), from €85,133 to €156,662
mainly Net result for the year (+€55,540) and Receivables within one year (+€40,364)
- Receivables within one year -€40,364
down €40,364 (-26.1%), from €154,448 to €114,084
of which Other amounts receivable: -€36,549
- Tangible fixed assets -€11,399
down €11,399 (-30.9%), from €36,864 to €25,464
- Deferred charges and accrued income -€5,908
down €5,908 (-47.3%), from €12,480 to €6,572
- Reserves +€55,000
up €55,000 (+15.7%), from €351,000 to €406,000
- Current portion of long-term debt -€16,481
down €16,481 (-75.7%), from €21,770 to €5,289
- Trade debts -€11,925
down €11,925 (-98.3%), from €12,125 to €200
- Other debts -€7,456
down €7,456 (-12.9%), from €57,775 to €50,320
- Tax, wage and social debts +€5,500
up €5,500 (+65.1%), from €8,450 to €13,950
of which Taxes: +€5,500
- Gross operating margin -€8,583
down €8,583 (-9.5%), from €90,553 to €81,970
- Financial income +€6,370
up €6,370 (+531%), from €1,200 to €7,570
- Taxes -€1,531
down €1,531 (-6.9%), from €22,324 to €20,794
- Financial charges -€1,094
down €1,094 (-54.8%), from €1,998 to €904
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 | €462,393 | €480,283 | +€17,890 | +3.9% |
| Fixed assets | 21/28 | €36,864 | €25,464 | -€11,399 | -30.9% |
| Tangible fixed assets | 22/27 | €36,864 | €25,464 | -€11,399 | -30.9% |
| Furniture and vehicles | 24 | €36,864 | €25,464 | -€11,399 | -30.9% |
| Current assets | 29/58 | €425,529 | €454,819 | +€29,290 | +6.9% |
| Amounts receivable within one year | 40/41 | €154,448 | €114,084 | -€40,364 | -26.1% |
| Trade receivables | 40 | €4,414 | €600 | -€3,814 | -86.4% |
| Other amounts receivable | 41 | €150,034 | €113,484 | -€36,549 | -24.4% |
| Current investments | 50/53 | €173,468 | €177,500 | +€4,032 | +2.3% |
| Cash at bank and in hand | 54/58 | €85,133 | €156,662 | +€71,529 | +84.0% |
| Deferred charges and accrued income | 490/1 | €12,480 | €6,572 | -€5,908 | -47.3% |
| Total equity and liabilities | 10/49 | €462,393 | €480,283 | +€17,890 | +3.9% |
| Equity | 10/15 | €351,937 | €407,477 | +€55,540 | +15.8% |
| Reserves | 13 | €351,000 | €406,000 | +€55,000 | +15.7% |
| Distributable reserves | 133 | €351,000 | €406,000 | +€55,000 | +15.7% |
| Profit (loss) carried forward | 14 | €937 | €1,477 | +€540 | +57.6% |
| Amounts payable | 17/49 | €110,456 | €72,806 | -€37,650 | -34.1% |
| Amounts payable after more than one year | 17 | €5,289 | €0 | -€5,289 | -100% |
| Financial debts | 170/4 | €5,289 | €0 | -€5,289 | -100% |
| Amounts payable within one year | 42/48 | €100,120 | €69,759 | -€30,361 | -30.3% |
| Current portion of amounts payable after more than one year | 42 | €21,770 | €5,289 | -€16,481 | -75.7% |
| Trade debts | 44 | €12,125 | €200 | -€11,925 | -98.3% |
| Suppliers | 440/4 | €12,125 | €200 | -€11,925 | -98.3% |
| Taxes, remuneration and social security | 45 | €8,450 | €13,950 | +€5,500 | +65.1% |
| Taxes | 450/3 | €3,650 | €9,150 | +€5,500 | +151% |
| Remuneration and social security | 454/9 | €4,800 | €4,800 | = | 0.0% |
| Other amounts payable | 47/48 | €57,775 | €50,320 | -€7,456 | -12.9% |
| Accrued charges and deferred income | 492/3 | €5,046 | €3,047 | -€1,999 | -39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,399 | €11,399 | = | 0.0% |
| Other operating charges | 640/8 | €833 | €903 | +€70 | +8.4% |
| Gross operating margin | 9900 | €90,553 | €81,970 | -€8,583 | -9.5% |
| Operating profit (loss) | 9901 | €78,321 | €69,668 | -€8,653 | -11.0% |
| Financial income | 75/76B | €1,200 | €7,570 | +€6,370 | +531% |
| Recurring financial income | 75 | €1,200 | €7,570 | +€6,370 | +531% |
| Financial charges | 65/66B | €1,998 | €904 | -€1,094 | -54.8% |
| Recurring financial charges | 65 | €1,998 | €904 | -€1,094 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €77,523 | €76,334 | -€1,189 | -1.5% |
| Income taxes | 67/77 | €22,324 | €20,794 | -€1,531 | -6.9% |
| Profit (loss) for the period | 9904 | €55,198 | €55,540 | +€342 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,198 | €55,540 | +€342 | +0.6% |
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 17 October 2026 via checked.be.