DR. INGRID SCHOEMAKER: 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. INGRID SCHOEMAKER
Largest movements
- Current investments +€100,000
up €100,000 (+33.3%), from €300,000 to €400,000
- Reserves +€107,307
up €107,307 (+12.3%), from €874,359 to €981,667
- Financial income +€10,689
up €10,689 (+786.9%), from €1,358 to €12,047
- Taxes +€4,137
up €4,137 (+10.3%), from €40,155 to €44,293
- Gross operating margin +€2,509
up €2,509 (+1.8%), from €140,638 to €143,147
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 | €950,376 | €1,059,516 | +€109,140 | +11.5% |
| Fixed assets | 21/28 | €12,104 | €9,900 | -€2,204 | -18.2% |
| Tangible fixed assets | 22/27 | €12,104 | €9,900 | -€2,204 | -18.2% |
| Plant, machinery and equipment | 23 | €10,338 | €8,493 | -€1,845 | -17.8% |
| Furniture and vehicles | 24 | €1,767 | €1,407 | -€360 | -20.4% |
| Current assets | 29/58 | €938,272 | €1,049,617 | +€111,345 | +11.9% |
| Amounts receivable within one year | 40/41 | €4,101 | €5,821 | +€1,720 | +41.9% |
| Other amounts receivable | 41 | €4,101 | €5,821 | +€1,720 | +41.9% |
| Current investments | 50/53 | €300,000 | €400,000 | +€100,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €576,813 | €584,226 | +€7,414 | +1.3% |
| Deferred charges and accrued income | 490/1 | €57,358 | €59,569 | +€2,211 | +3.9% |
| Total equity and liabilities | 10/49 | €950,376 | €1,059,516 | +€109,140 | +11.5% |
| Equity | 10/15 | €924,733 | €1,032,040 | +€107,307 | +11.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €874,359 | €981,667 | +€107,307 | +12.3% |
| Distributable reserves | 133 | €874,359 | €981,667 | +€107,307 | +12.3% |
| Profit (loss) carried forward | 14 | €30,374 | €30,374 | = | 0.0% |
| Amounts payable | 17/49 | €25,643 | €27,476 | +€1,833 | +7.1% |
| Amounts payable within one year | 42/48 | €18,325 | €20,095 | +€1,770 | +9.7% |
| Trade debts | 44 | €918 | €4,339 | +€3,421 | +372.6% |
| Suppliers | 440/4 | €918 | €4,339 | +€3,421 | +372.6% |
| Taxes, remuneration and social security | 45 | €17,407 | €15,756 | -€1,651 | -9.5% |
| Taxes | 450/3 | €17,407 | €15,756 | -€1,651 | -9.5% |
| Accrued charges and deferred income | 492/3 | €7,318 | €7,382 | +€63 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,401 | €2,204 | -€197 | -8.2% |
| Other operating charges | 640/8 | €1,210 | €1,240 | +€30 | +2.5% |
| Gross operating margin | 9900 | €140,638 | €143,147 | +€2,509 | +1.8% |
| Operating profit (loss) | 9901 | €137,027 | €139,703 | +€2,676 | +2.0% |
| Financial income | 75/76B | €1,358 | €12,047 | +€10,689 | +786.9% |
| Recurring financial income | 75 | €1,358 | €12,047 | +€10,689 | +786.9% |
| Financial charges | 65/66B | €111 | €150 | +€39 | +35.3% |
| Recurring financial charges | 65 | €111 | €150 | +€39 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €138,274 | €151,600 | +€13,326 | +9.6% |
| Income taxes | 67/77 | €40,155 | €44,293 | +€4,137 | +10.3% |
| Profit (loss) for the period | 9904 | €98,119 | €107,307 | +€9,189 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €98,119 | €107,307 | +€9,189 | +9.4% |
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 11 October 2026 via checked.be.