DR. ISABELLE LAMBERT: 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. ISABELLE LAMBERT
Largest movements
- Cash +€42,318
up €42,318 (+44.8%), from €94,523 to €136,841
mainly Net result for the year (+€118,703) and Current investments (+€25,054)
- Current investments -€25,054
down €25,054 (-2.7%), from €927,983 to €902,929
- Reserves +€14,118
up €14,118 (+1.4%), from €1.0m to €1.0m
of which Distributable reserves: +€14,118
- Gross operating margin +€42,129
up €42,129 (+39.0%), from €107,930 to €150,059
- Financial income -€11,247
down €11,247 (-28.3%), from €39,755 to €28,508
- Taxes +€3,947
up €3,947 (+8.7%), from €45,550 to €49,497
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 | €1,077,608 | €1,093,791 | +€16,183 | +1.5% |
| Fixed assets | 21/28 | €17,353 | €10,460 | -€6,893 | -39.7% |
| Tangible fixed assets | 22/27 | €17,353 | €10,460 | -€6,893 | -39.7% |
| Furniture and vehicles | 24 | €15,163 | €9,036 | -€6,127 | -40.4% |
| Other tangible fixed assets | 26 | €2,190 | €1,424 | -€766 | -35.0% |
| Current assets | 29/58 | €1,060,255 | €1,083,331 | +€23,076 | +2.2% |
| Amounts receivable within one year | 40/41 | €19,333 | €17,326 | -€2,007 | -10.4% |
| Trade receivables | 40 | €13,232 | €17,326 | +€4,094 | +30.9% |
| Other amounts receivable | 41 | €6,101 | €0 | -€6,101 | -100% |
| Current investments | 50/53 | €927,983 | €902,929 | -€25,054 | -2.7% |
| Cash at bank and in hand | 54/58 | €94,523 | €136,841 | +€42,318 | +44.8% |
| Deferred charges and accrued income | 490/1 | €18,416 | €26,236 | +€7,820 | +42.5% |
| Total equity and liabilities | 10/49 | €1,077,608 | €1,093,791 | +€16,183 | +1.5% |
| Equity | 10/15 | €1,032,808 | €1,046,925 | +€14,118 | +1.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,019,927 | €1,034,045 | +€14,118 | +1.4% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €1,019,927 | €1,034,045 | +€14,118 | +1.4% |
| Profit (loss) carried forward | 14 | €481 | €481 | = | 0.0% |
| Amounts payable | 17/49 | €44,801 | €46,866 | +€2,065 | +4.6% |
| Amounts payable within one year | 42/48 | €42,707 | €44,913 | +€2,207 | +5.2% |
| Trade debts | 44 | €30 | €30 | +€1 | +2.3% |
| Suppliers | 440/4 | €30 | €30 | +€1 | +2.3% |
| Taxes, remuneration and social security | 45 | €16,379 | €16,854 | +€476 | +2.9% |
| Taxes | 450/3 | €16,379 | €16,854 | +€476 | +2.9% |
| Other amounts payable | 47/48 | €26,298 | €28,029 | +€1,731 | +6.6% |
| Accrued charges and deferred income | 492/3 | €2,094 | €1,953 | -€142 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,236 | €6,893 | +€657 | +10.5% |
| Other operating charges | 640/8 | €1,322 | €1,368 | +€46 | +3.4% |
| Gross operating margin | 9900 | €107,930 | €150,059 | +€42,129 | +39.0% |
| Operating profit (loss) | 9901 | €100,372 | €141,797 | +€41,425 | +41.3% |
| Financial income | 75/76B | €39,755 | €28,508 | -€11,247 | -28.3% |
| Recurring financial income | 75 | €39,755 | €28,508 | -€11,247 | -28.3% |
| Financial charges | 65/66B | €2,246 | €2,106 | -€140 | -6.2% |
| Recurring financial charges | 65 | €2,246 | €2,106 | -€140 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €137,881 | €168,200 | +€30,319 | +22.0% |
| Income taxes | 67/77 | €45,550 | €49,497 | +€3,947 | +8.7% |
| Profit (loss) for the period | 9904 | €92,331 | €118,703 | +€26,372 | +28.6% |
| Transfer from tax-exempt reserves | 789 | €63,150 | €0 | -€63,150 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €155,481 | €118,703 | -€36,778 | -23.7% |
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 23 October 2026 via checked.be.