Dr. J. Haesevoets: 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. J. Haesevoets
Largest movements
- Cash +€82,574
up €82,574 (+168%), from €49,108 to €131,682
mainly Net result for the year (+€90,063) and Tax, wage and social debts (+€28,160)
- Current investments +€50,000
new in 2025: €50,000
- Reserves +€90,063
up €90,063 (+251%), from €35,834 to €125,897
- Tax, wage and social debts +€28,160
up €28,160 (+227%), from €12,384 to €40,544
- Trade debts +€14,327
up €14,327 (+2,691%), from €532 to €14,859
- Gross operating margin +€73,846
up €73,846 (+148%), from €49,984 to €123,830
- Taxes +€17,591
up €17,591 (+153%), from €11,476 to €29,068
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 | €50,751 | €183,300 | +€132,550 | +261% |
| Fixed assets | 21/28 | €1,642 | €776 | -€866 | -52.7% |
| Tangible fixed assets | 22/27 | €1,642 | €776 | -€866 | -52.7% |
| Furniture and vehicles | 24 | €1,642 | €776 | -€866 | -52.7% |
| Current assets | 29/58 | €49,108 | €182,524 | +€133,416 | +272% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €49,108 | €131,682 | +€82,574 | +168% |
| Deferred charges and accrued income | 490/1 | €0 | €842 | +€842 | |
| Total equity and liabilities | 10/49 | €50,751 | €183,300 | +€132,550 | +261% |
| Equity | 10/15 | €37,834 | €127,897 | +€90,063 | +238% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €35,834 | €125,897 | +€90,063 | +251% |
| Distributable reserves | 133 | €35,834 | €125,897 | +€90,063 | +251% |
| Amounts payable | 17/49 | €12,916 | €55,403 | +€42,487 | +329% |
| Amounts payable within one year | 42/48 | €12,916 | €55,403 | +€42,487 | +329% |
| Trade debts | 44 | €532 | €14,859 | +€14,327 | +2,691% |
| Suppliers | 440/4 | €532 | €14,859 | +€14,327 | +2,691% |
| Taxes, remuneration and social security | 45 | €12,384 | €40,544 | +€28,160 | +227% |
| Taxes | 450/3 | €12,384 | €40,544 | +€28,160 | +227% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €866 | €866 | = | 0.0% |
| Other operating charges | 640/8 | €593 | €1,155 | +€562 | +94.9% |
| Gross operating margin | 9900 | €49,984 | €123,830 | +€73,846 | +148% |
| Operating profit (loss) | 9901 | €48,525 | €121,809 | +€73,284 | +151% |
| Financial income | 75/76B | €0 | €0 | +€0 | +4,600% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +4,600% |
| Financial charges | 65/66B | €3,041 | €2,679 | -€362 | -11.9% |
| Recurring financial charges | 65 | €3,041 | €2,679 | -€362 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €45,484 | €119,131 | +€73,646 | +162% |
| Income taxes | 67/77 | €11,476 | €29,068 | +€17,591 | +153% |
| Profit (loss) for the period | 9904 | €34,008 | €90,063 | +€56,055 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €34,008 | €90,063 | +€56,055 | +165% |
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 15 October 2026 via checked.be.