Dr. Isabelle Lambrechts: 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 Lambrechts
Largest movements
- Cash -€188,907
down €188,907 (-22.7%), from €831,037 to €642,129
mainly Contributions, distributions and other (-€267,314) and Receivables within one year (-€8,418)
- Reserves -€180,918
down €180,918 (-13.7%), from €1.3m to €1.1m
- Gross operating margin -€34,164
down €34,164 (-24.4%), from €140,042 to €105,878
- Taxes -€14,741
down €14,741 (-26.3%), from €56,017 to €41,277
- Financial income -€12,359
down €12,359 (-33.8%), from €36,565 to €24,206
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 | €1,341,985 | €1,164,923 | -€177,062 | -13.2% |
| Fixed assets | 21/28 | €2,059 | €771 | -€1,288 | -62.6% |
| Tangible fixed assets | 22/27 | €2,059 | €771 | -€1,288 | -62.6% |
| Plant, machinery and equipment | 23 | €2,059 | €771 | -€1,288 | -62.6% |
| Current assets | 29/58 | €1,339,926 | €1,164,152 | -€175,774 | -13.1% |
| Amounts receivable within one year | 40/41 | - | €8,418 | +€8,418 | |
| Other amounts receivable | 41 | - | €8,418 | +€8,418 | |
| Current investments | 50/53 | €506,875 | €506,875 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €831,037 | €642,129 | -€188,907 | -22.7% |
| Deferred charges and accrued income | 490/1 | €2,014 | €6,731 | +€4,716 | +234% |
| Total equity and liabilities | 10/49 | €1,341,985 | €1,164,923 | -€177,062 | -13.2% |
| Equity | 10/15 | €1,333,436 | €1,152,518 | -€180,918 | -13.6% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €1,319,176 | €1,138,258 | -€180,918 | -13.7% |
| Distributable reserves | 133 | €1,319,176 | €1,138,258 | -€180,918 | -13.7% |
| Amounts payable | 17/49 | €8,549 | €12,404 | +€3,856 | +45.1% |
| Amounts payable within one year | 42/48 | €8,549 | €12,404 | +€3,856 | +45.1% |
| Trade debts | 44 | €3,394 | €3,271 | -€124 | -3.6% |
| Suppliers | 440/4 | €3,394 | €3,271 | -€124 | -3.6% |
| Taxes, remuneration and social security | 45 | €5,048 | €9,134 | +€4,086 | +80.9% |
| Taxes | 450/3 | €5,048 | €9,134 | +€4,086 | +80.9% |
| Other amounts payable | 47/48 | €106 | - | -€106 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,413 | €1,288 | -€125 | -8.8% |
| Other operating charges | 640/8 | €425 | €438 | +€13 | +3.2% |
| Gross operating margin | 9900 | €140,042 | €105,878 | -€34,164 | -24.4% |
| Operating profit (loss) | 9901 | €138,204 | €104,152 | -€34,052 | -24.6% |
| Financial income | 75/76B | €36,565 | €24,206 | -€12,359 | -33.8% |
| Recurring financial income | 75 | €36,565 | €24,206 | -€12,359 | -33.8% |
| Financial charges | 65/66B | €686 | €685 | -€0 | 0.0% |
| Recurring financial charges | 65 | €686 | €685 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €174,084 | €127,673 | -€46,411 | -26.7% |
| Income taxes | 67/77 | €56,017 | €41,277 | -€14,741 | -26.3% |
| Profit (loss) for the period | 9904 | €118,067 | €86,396 | -€31,670 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €118,067 | €86,396 | -€31,670 | -26.8% |
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 1 November 2026 via checked.be.