dr Ine Vos: 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 Ine Vos
Largest movements
- Cash +€36,077
up €36,077 (+48.8%), from €73,942 to €110,019
mainly Net result for the year (+€104,538) and Depreciation (+€2,012)
- Deferred charges and accrued income +€20,768
up €20,768 (+2,390%), from €869 to €21,637
- Current investments +€12,119
up €12,119 (+75.6%), from €16,021 to €28,140
- Tangible fixed assets +€2,651
up €2,651 (+67.1%), from €3,951 to €6,602
of which Other tangible fixed assets: +€4,391
- Profit (loss) carried forward +€104,538
new in 2025: €104,538
- Reserves -€30,000
down €30,000 (-35.8%), from €83,690 to €53,690
- Trade debts -€4,692
down €4,692 (-79.0%), from €5,943 to €1,251
- Gross operating margin +€44,062
up €44,062 (+47.7%), from €92,365 to €136,427
- Taxes +€9,486
up €9,486 (+47.5%), from €19,955 to €29,441
- Financial income -€5,283
down €5,283 (-96.9%), from €5,453 to €171
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 | €94,838 | €166,399 | +€71,562 | +75.5% |
| Fixed assets | 21/28 | €3,951 | €6,602 | +€2,651 | +67.1% |
| Tangible fixed assets | 22/27 | €3,951 | €6,602 | +€2,651 | +67.1% |
| Furniture and vehicles | 24 | €3,951 | €2,211 | -€1,740 | -44.0% |
| Other tangible fixed assets | 26 | - | €4,391 | +€4,391 | |
| Current assets | 29/58 | €90,886 | €159,797 | +€68,911 | +75.8% |
| Amounts receivable within one year | 40/41 | €54 | - | -€54 | |
| Other amounts receivable | 41 | €54 | - | -€54 | |
| Current investments | 50/53 | €16,021 | €28,140 | +€12,119 | +75.6% |
| Cash at bank and in hand | 54/58 | €73,942 | €110,019 | +€36,077 | +48.8% |
| Deferred charges and accrued income | 490/1 | €869 | €21,637 | +€20,768 | +2,390% |
| Total equity and liabilities | 10/49 | €94,838 | €166,399 | +€71,562 | +75.5% |
| Equity | 10/15 | €88,690 | €163,228 | +€74,538 | +84.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €83,690 | €53,690 | -€30,000 | -35.8% |
| Distributable reserves | 133 | €83,690 | €53,690 | -€30,000 | -35.8% |
| Profit (loss) carried forward | 14 | - | €104,538 | +€104,538 | |
| Amounts payable | 17/49 | €6,147 | €3,171 | -€2,976 | -48.4% |
| Amounts payable within one year | 42/48 | €6,147 | €3,171 | -€2,976 | -48.4% |
| Trade debts | 44 | €5,943 | €1,251 | -€4,692 | -79.0% |
| Suppliers | 440/4 | €5,943 | €1,251 | -€4,692 | -79.0% |
| Taxes, remuneration and social security | 45 | - | €1,389 | +€1,389 | |
| Taxes | 450/3 | - | €1,389 | +€1,389 | |
| Other amounts payable | 47/48 | €204 | €531 | +€327 | +160% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,726 | €2,012 | +€287 | +16.6% |
| Other operating charges | 640/8 | €118 | €170 | +€52 | +44.1% |
| Gross operating margin | 9900 | €92,365 | €136,427 | +€44,062 | +47.7% |
| Operating profit (loss) | 9901 | €90,521 | €134,245 | +€43,723 | +48.3% |
| Financial income | 75/76B | €5,453 | €171 | -€5,283 | -96.9% |
| Recurring financial income | 75 | €5,453 | €171 | -€5,283 | -96.9% |
| Financial charges | 65/66B | €191 | €437 | +€246 | +129% |
| Recurring financial charges | 65 | €191 | €437 | +€246 | +129% |
| Profit (loss) for the period before taxes | 9903 | €95,783 | €133,978 | +€38,195 | +39.9% |
| Income taxes | 67/77 | €19,955 | €29,441 | +€9,486 | +47.5% |
| Profit (loss) for the period | 9904 | €75,829 | €104,538 | +€28,709 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €75,829 | €104,538 | +€28,709 | +37.9% |
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 1 November 2026 via checked.be.