Dr. Iris Willems: 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 Willems
Largest movements
- Tangible fixed assets +€50,316
up €50,316 (+1,535%), from €3,278 to €53,594
of which Furniture and vehicles: +€50,535
- Cash +€41,158
up €41,158 (+78.3%), from €52,562 to €93,720
mainly Net result for the year (+€55,435) and Other debts (+€37,980)
- Current investments +€20,508
new in 2025: €20,508
- Profit (loss) carried forward +€55,435
up €55,435 (+139%), from €39,799 to €95,234
- Other debts +€37,980
up €37,980 (+7,555%), from €503 to €38,482
- Debts after one year +€13,186
new in 2025: €13,186
- Current portion of long-term debt +€5,347
new in 2025: €5,347
- Gross operating margin +€30,025
up €30,025 (+57.7%), from €52,007 to €82,031
- Depreciation +€8,228
up €8,228 (+1,180%), from €697 to €8,925
- Taxes +€3,596
up €3,596 (+32.8%), from €10,950 to €14,545
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 | €58,884 | €170,901 | +€112,016 | +190% |
| Fixed assets | 21/28 | €3,278 | €53,594 | +€50,316 | +1,535% |
| Tangible fixed assets | 22/27 | €3,278 | €53,594 | +€50,316 | +1,535% |
| Plant, machinery and equipment | 23 | €904 | €685 | -€220 | -24.3% |
| Furniture and vehicles | 24 | €2,374 | €52,909 | +€50,535 | +2,129% |
| Current assets | 29/58 | €55,606 | €117,307 | +€61,701 | +111% |
| Current investments | 50/53 | - | €20,508 | +€20,508 | |
| Cash at bank and in hand | 54/58 | €52,562 | €93,720 | +€41,158 | +78.3% |
| Deferred charges and accrued income | 490/1 | €3,045 | €3,079 | +€34 | +1.1% |
| Total equity and liabilities | 10/49 | €58,884 | €170,901 | +€112,016 | +190% |
| Equity | 10/15 | €41,799 | €97,234 | +€55,435 | +133% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,799 | €95,234 | +€55,435 | +139% |
| Amounts payable | 17/49 | €17,085 | €73,667 | +€56,582 | +331% |
| Amounts payable after more than one year | 17 | - | €13,186 | +€13,186 | |
| Financial debts | 170/4 | - | €13,186 | +€13,186 | |
| Amounts payable within one year | 42/48 | €16,085 | €60,481 | +€44,396 | +276% |
| Current portion of amounts payable after more than one year | 42 | - | €5,347 | +€5,347 | |
| Trade debts | 44 | €492 | €0 | -€492 | -100% |
| Suppliers | 440/4 | €492 | €0 | -€492 | -100% |
| Taxes, remuneration and social security | 45 | €15,091 | €16,652 | +€1,561 | +10.3% |
| Taxes | 450/3 | €15,091 | €16,652 | +€1,561 | +10.3% |
| Other amounts payable | 47/48 | €503 | €38,482 | +€37,980 | +7,555% |
| Accrued charges and deferred income | 492/3 | €1,000 | €0 | -€1,000 | -100% |
| Remuneration, social security and pensions | 62 | €250 | €0 | -€250 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €697 | €8,925 | +€8,228 | +1,180% |
| Other operating charges | 640/8 | €249 | €403 | +€154 | +61.6% |
| Non-recurring operating charges | 66A | - | €1,980 | +€1,980 | |
| Gross operating margin | 9900 | €52,007 | €82,031 | +€30,025 | +57.7% |
| Operating profit (loss) | 9901 | €50,811 | €70,724 | +€19,913 | +39.2% |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €61 | €766 | +€704 | +1,147% |
| Recurring financial charges | 65 | €61 | €766 | +€704 | +1,147% |
| Profit (loss) for the period before taxes | 9903 | €50,749 | €69,980 | +€19,231 | +37.9% |
| Income taxes | 67/77 | €10,950 | €14,545 | +€3,596 | +32.8% |
| Profit (loss) for the period | 9904 | €39,799 | €55,435 | +€15,635 | +39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,799 | €55,435 | +€15,635 | +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 16 October 2026 via checked.be.