DR. INGE BEELDENS: 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. INGE BEELDENS
Largest movements
- Receivables within one year +€17,646
up €17,646 (+36.6%), from €48,163 to €65,809
- Tangible fixed assets -€15,702
down €15,702 (-9.2%), from €171,059 to €155,357
of which Land and buildings: -€13,491
- Cash +€3,909
up €3,909 (+3.1%), from €124,312 to €128,221
mainly Net result for the year (+€71,411) and Depreciation (+€21,559)
- Reserves +€41,972
up €41,972 (+15.4%), from €273,228 to €315,200
of which Distributable reserves: +€41,972
- Current portion of long-term debt -€32,669
down €32,669 (-83.3%), from €39,232 to €6,563
- Trade debts +€6,645
up €6,645 (+265%), from €2,505 to €9,150
- Debts after one year -€6,563
down €6,563 (-100%), from €6,563 to €0
- Tax, wage and social debts -€3,889
down €3,889 (-62.8%), from €6,190 to €2,301
- Gross operating margin -€7,602
down €7,602 (-5.8%), from €131,042 to €123,440
- Taxes -€2,182
down €2,182 (-7.4%), from €29,483 to €27,301
- Depreciation -€1,693
down €1,693 (-7.3%), from €23,252 to €21,559
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 | €347,896 | €354,288 | +€6,391 | +1.8% |
| Fixed assets | 21/28 | €171,249 | €155,547 | -€15,702 | -9.2% |
| Tangible fixed assets | 22/27 | €171,059 | €155,357 | -€15,702 | -9.2% |
| Land and buildings | 22 | €137,123 | €123,632 | -€13,491 | -9.8% |
| Plant, machinery and equipment | 23 | €5,482 | €2,016 | -€3,466 | -63.2% |
| Furniture and vehicles | 24 | €28,454 | €29,709 | +€1,256 | +4.4% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €176,648 | €198,741 | +€22,093 | +12.5% |
| Amounts receivable within one year | 40/41 | €48,163 | €65,809 | +€17,646 | +36.6% |
| Other amounts receivable | 41 | €48,163 | €65,809 | +€17,646 | +36.6% |
| Cash at bank and in hand | 54/58 | €124,312 | €128,221 | +€3,909 | +3.1% |
| Deferred charges and accrued income | 490/1 | €4,173 | €4,711 | +€539 | +12.9% |
| Total equity and liabilities | 10/49 | €347,896 | €354,288 | +€6,391 | +1.8% |
| Equity | 10/15 | €285,628 | €327,600 | +€41,972 | +14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €273,228 | €315,200 | +€41,972 | +15.4% |
| Non-distributable reserves | 130/1 | €2,060 | €2,060 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,060 | €2,060 | = | 0.0% |
| Distributable reserves | 133 | €271,168 | €313,140 | +€41,972 | +15.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €62,268 | €26,687 | -€35,581 | -57.1% |
| Amounts payable after more than one year | 17 | €6,563 | €0 | -€6,563 | -100% |
| Financial debts | 170/4 | €6,563 | €0 | -€6,563 | -100% |
| Amounts payable within one year | 42/48 | €55,705 | €26,687 | -€29,018 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €39,232 | €6,563 | -€32,669 | -83.3% |
| Trade debts | 44 | €2,505 | €9,150 | +€6,645 | +265% |
| Suppliers | 440/4 | €2,505 | €9,150 | +€6,645 | +265% |
| Taxes, remuneration and social security | 45 | €6,190 | €2,301 | -€3,889 | -62.8% |
| Taxes | 450/3 | €6,190 | €2,301 | -€3,889 | -62.8% |
| Other amounts payable | 47/48 | €7,778 | €8,674 | +€896 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,252 | €21,559 | -€1,693 | -7.3% |
| Other operating charges | 640/8 | €2,828 | €2,819 | -€9 | -0.3% |
| Gross operating margin | 9900 | €131,042 | €123,440 | -€7,602 | -5.8% |
| Operating profit (loss) | 9901 | €104,962 | €99,062 | -€5,901 | -5.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €588 | €349 | -€238 | -40.5% |
| Recurring financial charges | 65 | €588 | €349 | -€238 | -40.5% |
| Profit (loss) for the period before taxes | 9903 | €104,375 | €98,712 | -€5,663 | -5.4% |
| Income taxes | 67/77 | €29,483 | €27,301 | -€2,182 | -7.4% |
| Profit (loss) for the period | 9904 | €74,892 | €71,411 | -€3,481 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €74,892 | €71,411 | -€3,481 | -4.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.