Dr. Inge Vanassche: 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 Vanassche
Largest movements
- Cash -€45,689
down €45,689 (-55.0%), from €83,138 to €37,449
mainly Contributions, distributions and other (-€225,000) and Investment in fixed assets (net) (-€41,403)
- Tangible fixed assets +€36,441
up €36,441 (+251.3%), from €14,503 to €50,945
of which Furniture and vehicles: +€35,508
- Profit (loss) carried forward -€98,881
down €98,881 (-89.5%), from €110,529 to €11,647
- Other debts +€95,258
up €95,258 (+43.4%), from €219,738 to €314,996
- Gross operating margin +€20,820
up €20,820 (+13.5%), from €154,615 to €175,435
- Taxes +€5,462
up €5,462 (+16.6%), from €32,829 to €38,290
- Depreciation +€3,115
up €3,115 (+168.7%), from €1,847 to €4,962
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.
Cash bridge derived
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 | €345,752 | €338,556 | -€7,196 | -2.1% |
| Fixed assets | 21/28 | €14,503 | €50,945 | +€36,441 | +251.3% |
| Tangible fixed assets | 22/27 | €14,503 | €50,945 | +€36,441 | +251.3% |
| Plant, machinery and equipment | 23 | - | €1,969 | +€1,969 | |
| Furniture and vehicles | 24 | €3,644 | €39,152 | +€35,508 | +974.3% |
| Other tangible fixed assets | 26 | €10,859 | €9,824 | -€1,035 | -9.5% |
| Current assets | 29/58 | €331,248 | €287,611 | -€43,637 | -13.2% |
| Amounts receivable within one year | 40/41 | - | €780 | +€780 | |
| Other amounts receivable | 41 | - | €780 | +€780 | |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €83,138 | €37,449 | -€45,689 | -55.0% |
| Deferred charges and accrued income | 490/1 | €98,110 | €99,382 | +€1,272 | +1.3% |
| Total equity and liabilities | 10/49 | €345,752 | €338,556 | -€7,196 | -2.1% |
| Equity | 10/15 | €111,529 | €12,647 | -€98,881 | -88.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,529 | €11,647 | -€98,881 | -89.5% |
| Amounts payable | 17/49 | €234,223 | €325,908 | +€91,685 | +39.1% |
| Amounts payable within one year | 42/48 | €223,356 | €316,415 | +€93,059 | +41.7% |
| Trade debts | 44 | €375 | €117 | -€258 | -68.8% |
| Suppliers | 440/4 | €375 | €117 | -€258 | -68.8% |
| Taxes, remuneration and social security | 45 | €3,243 | €1,302 | -€1,941 | -59.8% |
| Taxes | 450/3 | €2,739 | €870 | -€1,869 | -68.2% |
| Remuneration and social security | 454/9 | €504 | €432 | -€72 | -14.3% |
| Other amounts payable | 47/48 | €219,738 | €314,996 | +€95,258 | +43.4% |
| Accrued charges and deferred income | 492/3 | €10,867 | €9,493 | -€1,374 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,847 | €4,962 | +€3,115 | +168.7% |
| Other operating charges | 640/8 | €865 | €891 | +€26 | +3.0% |
| Gross operating margin | 9900 | €154,615 | €175,435 | +€20,820 | +13.5% |
| Operating profit (loss) | 9901 | €151,903 | €169,581 | +€17,678 | +11.6% |
| Financial income | 75/76B | €3,204 | €4,456 | +€1,253 | +39.1% |
| Recurring financial income | 75 | €3,204 | €4,456 | +€1,253 | +39.1% |
| Financial charges | 65/66B | €11,000 | €9,629 | -€1,371 | -12.5% |
| Recurring financial charges | 65 | €11,000 | €9,629 | -€1,371 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €144,107 | €164,409 | +€20,302 | +14.1% |
| Income taxes | 67/77 | €32,829 | €38,290 | +€5,462 | +16.6% |
| Profit (loss) for the period | 9904 | €111,278 | €126,119 | +€14,841 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €111,278 | €126,119 | +€14,841 | +13.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.