Dr. Inge Vandenbempt: 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 Vandenbempt
Largest movements
- Cash +€24,735
up €24,735 (+14.3%), from €172,774 to €197,509
mainly Net result for the year (+€33,175) and Depreciation (+€4,273)
- Tangible fixed assets +€5,363
up €5,363 (+425%), from €1,262 to €6,624
of which Furniture and vehicles: +€4,797
- Profit (loss) carried forward +€31,509
up €31,509 (+20.0%), from €157,256 to €188,765
- Gross operating margin -€29,136
down €29,136 (-38.1%), from €76,496 to €47,360
- Taxes -€6,225
down €6,225 (-40.9%), from €15,217 to €8,992
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 | €194,478 | €224,491 | +€30,013 | +15.4% |
| Fixed assets | 21/28 | €15,606 | €19,118 | +€3,513 | +22.5% |
| Intangible fixed assets | 21 | €13,684 | €11,834 | -€1,850 | -13.5% |
| Tangible fixed assets | 22/27 | €1,262 | €6,624 | +€5,363 | +425% |
| Plant, machinery and equipment | 23 | €759 | €422 | -€337 | -44.4% |
| Furniture and vehicles | 24 | €503 | €5,300 | +€4,797 | +955% |
| Other tangible fixed assets | 26 | - | €902 | +€902 | |
| Financial fixed assets | 28 | €660 | €660 | = | 0.0% |
| Current assets | 29/58 | €178,872 | €205,373 | +€26,500 | +14.8% |
| Amounts receivable within one year | 40/41 | €3,377 | €5,120 | +€1,743 | +51.6% |
| Trade receivables | 40 | €3,377 | €2,797 | -€580 | -17.2% |
| Other amounts receivable | 41 | - | €2,322 | +€2,322 | |
| Cash at bank and in hand | 54/58 | €172,774 | €197,509 | +€24,735 | +14.3% |
| Deferred charges and accrued income | 490/1 | €2,721 | €2,744 | +€23 | +0.8% |
| Total equity and liabilities | 10/49 | €194,478 | €224,491 | +€30,013 | +15.4% |
| Equity | 10/15 | €158,256 | €189,765 | +€31,509 | +19.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157,256 | €188,765 | +€31,509 | +20.0% |
| Amounts payable | 17/49 | €36,222 | €34,726 | -€1,496 | -4.1% |
| Amounts payable within one year | 42/48 | €35,627 | €33,856 | -€1,771 | -5.0% |
| Trade debts | 44 | €4,863 | €4,589 | -€274 | -5.6% |
| Suppliers | 440/4 | €4,863 | €4,589 | -€274 | -5.6% |
| Taxes, remuneration and social security | 45 | €15,902 | €15,902 | = | 0.0% |
| Taxes | 450/3 | €15,902 | €15,902 | = | 0.0% |
| Other amounts payable | 47/48 | €14,862 | €13,365 | -€1,498 | -10.1% |
| Accrued charges and deferred income | 492/3 | €595 | €870 | +€275 | +46.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,886 | €4,273 | +€388 | +10.0% |
| Other operating charges | 640/8 | €1,167 | €1,052 | -€114 | -9.8% |
| Gross operating margin | 9900 | €76,496 | €47,360 | -€29,136 | -38.1% |
| Operating profit (loss) | 9901 | €71,444 | €42,034 | -€29,409 | -41.2% |
| Financial income | 75/76B | €777 | €1,048 | +€271 | +34.8% |
| Recurring financial income | 75 | €777 | €1,048 | +€271 | +34.8% |
| Financial charges | 65/66B | €600 | €916 | +€316 | +52.7% |
| Recurring financial charges | 65 | €600 | €916 | +€316 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | €71,622 | €42,167 | -€29,455 | -41.1% |
| Income taxes | 67/77 | €15,217 | €8,992 | -€6,225 | -40.9% |
| Profit (loss) for the period | 9904 | €56,405 | €33,175 | -€23,230 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,405 | €33,175 | -€23,230 | -41.2% |
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 30 October 2026 via checked.be.