DR. IRIS VANWALLEGHEM: 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. IRIS VANWALLEGHEM
Largest movements
- Current investments +€68,205
up €68,205 (+12.1%), from €561,740 to €629,945
- Cash +€19,656
up €19,656 (+38.7%), from €50,847 to €70,503
mainly Net result for the year (+€158,006) and Receivables within one year (+€14,795)
- Receivables within one year -€14,795
down €14,795 (-11.4%), from €129,460 to €114,666
- Reserves +€69,399
up €69,399 (+10.7%), from €648,967 to €718,366
- Tax, wage and social debts +€10,792
up €10,792 (+34.8%), from €30,967 to €41,759
- Accrued charges and deferred income -€9,389
down €9,389 (-78.9%), from €11,907 to €2,517
- Gross operating margin +€65,429
up €65,429 (+38.5%), from €169,885 to €235,314
- Taxes +€21,567
up €21,567 (+38.1%), from €56,602 to €78,169
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 | €770,503 | €843,131 | +€72,628 | +9.4% |
| Fixed assets | 21/28 | €26,897 | €26,196 | -€701 | -2.6% |
| Tangible fixed assets | 22/27 | €26,897 | €26,196 | -€701 | -2.6% |
| Furniture and vehicles | 24 | €1,796 | €6,080 | +€4,284 | +238.5% |
| Other tangible fixed assets | 26 | €25,101 | €20,115 | -€4,986 | -19.9% |
| Current assets | 29/58 | €743,606 | €816,936 | +€73,330 | +9.9% |
| Amounts receivable within one year | 40/41 | €129,460 | €114,666 | -€14,795 | -11.4% |
| Other amounts receivable | 41 | €129,460 | €114,666 | -€14,795 | -11.4% |
| Current investments | 50/53 | €561,740 | €629,945 | +€68,205 | +12.1% |
| Cash at bank and in hand | 54/58 | €50,847 | €70,503 | +€19,656 | +38.7% |
| Deferred charges and accrued income | 490/1 | €1,558 | €1,822 | +€264 | +16.9% |
| Total equity and liabilities | 10/49 | €770,503 | €843,131 | +€72,628 | +9.4% |
| Equity | 10/15 | €710,967 | €780,366 | +€69,399 | +9.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €648,967 | €718,366 | +€69,399 | +10.7% |
| Distributable reserves | 133 | €648,967 | €718,366 | +€69,399 | +10.7% |
| Amounts payable | 17/49 | €59,536 | €62,765 | +€3,229 | +5.4% |
| Amounts payable within one year | 42/48 | €47,630 | €60,248 | +€12,618 | +26.5% |
| Financial debts | 43 | €11,839 | €13,474 | +€1,634 | +13.8% |
| Credit institutions | 430/8 | €11,839 | €13,474 | +€1,634 | +13.8% |
| Trade debts | 44 | €4,823 | €5,015 | +€192 | +4.0% |
| Suppliers | 440/4 | €4,823 | €5,015 | +€192 | +4.0% |
| Taxes, remuneration and social security | 45 | €30,967 | €41,759 | +€10,792 | +34.8% |
| Taxes | 450/3 | €30,967 | €41,759 | +€10,792 | +34.8% |
| Accrued charges and deferred income | 492/3 | €11,907 | €2,517 | -€9,389 | -78.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,507 | €6,207 | -€299 | -4.6% |
| Other operating charges | 640/8 | €1,134 | €2,171 | +€1,037 | +91.4% |
| Gross operating margin | 9900 | €169,885 | €235,314 | +€65,429 | +38.5% |
| Operating profit (loss) | 9901 | €162,244 | €226,936 | +€64,692 | +39.9% |
| Financial income | 75/76B | €9,497 | €10,807 | +€1,311 | +13.8% |
| Recurring financial income | 75 | €9,497 | €10,807 | +€1,311 | +13.8% |
| Financial charges | 65/66B | €1,749 | €1,569 | -€180 | -10.3% |
| Recurring financial charges | 65 | €1,749 | €1,569 | -€180 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €169,992 | €236,175 | +€66,183 | +38.9% |
| Income taxes | 67/77 | €56,602 | €78,169 | +€21,567 | +38.1% |
| Profit (loss) for the period | 9904 | €113,390 | €158,006 | +€44,615 | +39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €113,390 | €158,006 | +€44,615 | +39.3% |
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.