Dr. Jolien Schildermans: what changed
Dr. Jolien Schildermans
Largest movements
- Receivables after one year -€100,000
down €100,000 (-100%), from €100,000 to €0
- Cash -€87,734
down €87,734 (-65.0%), from €134,965 to €47,230
mainly Contributions, distributions and other (-€300,000) and Other debts (-€99,598)
- Receivables within one year +€48,500
up €48,500 (+124%), from €39,000 to €87,500
- Current investments +€35,000
up €35,000 (+20.0%), from €175,000 to €210,000
- Tangible fixed assets +€12,616
up €12,616 (+455%), from €2,775 to €15,390
- Other debts -€99,598
down €99,598 (-24.7%), from €403,328 to €303,731
- Reserves +€22,480
up €22,480 (+281%), from €8,006 to €30,486
- Tax, wage and social debts -€10,579
down €10,579 (-49.3%), from €21,438 to €10,859
of which Taxes: -€10,579
- Trade debts -€4,647
down €4,647 (-80.6%), from €5,765 to €1,117
- Gross operating margin +€128,885
up €128,885 (+43.4%), from €296,959 to €425,844
- Taxes +€31,817
up €31,817 (+43.8%), from €72,636 to €104,453
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €459,272 | €366,361 | -€92,911 | -20.2% |
| Fixed assets | 21/28 | €2,775 | €15,390 | +€12,616 | +455% |
| Tangible fixed assets | 22/27 | €2,775 | €15,390 | +€12,616 | +455% |
| Furniture and vehicles | 24 | €2,775 | €15,390 | +€12,616 | +455% |
| Current assets | 29/58 | €456,497 | €350,971 | -€105,526 | -23.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100% |
| Amounts receivable within one year | 40/41 | €39,000 | €87,500 | +€48,500 | +124% |
| Trade receivables | 40 | €39,000 | €87,500 | +€48,500 | +124% |
| Current investments | 50/53 | €175,000 | €210,000 | +€35,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €134,965 | €47,230 | -€87,734 | -65.0% |
| Deferred charges and accrued income | 490/1 | €7,532 | €6,240 | -€1,292 | -17.2% |
| Total equity and liabilities | 10/49 | €459,272 | €366,361 | -€92,911 | -20.2% |
| Equity | 10/15 | €13,006 | €35,486 | +€22,480 | +173% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,006 | €30,486 | +€22,480 | +281% |
| Distributable reserves | 133 | €8,006 | €30,486 | +€22,480 | +281% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €446,266 | €330,875 | -€115,390 | -25.9% |
| Amounts payable within one year | 42/48 | €445,754 | €330,875 | -€114,879 | -25.8% |
| Financial debts | 43 | €15,223 | €15,168 | -€56 | -0.4% |
| Credit institutions | 430/8 | €15,223 | €15,168 | -€56 | -0.4% |
| Trade debts | 44 | €5,765 | €1,117 | -€4,647 | -80.6% |
| Suppliers | 440/4 | €5,765 | €1,117 | -€4,647 | -80.6% |
| Taxes, remuneration and social security | 45 | €21,438 | €10,859 | -€10,579 | -49.3% |
| Taxes | 450/3 | €21,438 | €10,859 | -€10,579 | -49.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €403,328 | €303,731 | -€99,598 | -24.7% |
| Accrued charges and deferred income | 492/3 | €511 | €0 | -€511 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €722 | €2,650 | +€1,929 | +267% |
| Other operating charges | 640/8 | €1,094 | €1,116 | +€23 | +2.1% |
| Gross operating margin | 9900 | €296,959 | €425,844 | +€128,885 | +43.4% |
| Operating profit (loss) | 9901 | €295,144 | €422,077 | +€126,933 | +43.0% |
| Financial income | 75/76B | €6,385 | €6,042 | -€344 | -5.4% |
| Recurring financial income | 75 | €6,385 | €6,042 | -€344 | -5.4% |
| Financial charges | 65/66B | €1,404 | €1,187 | -€217 | -15.5% |
| Recurring financial charges | 65 | €1,404 | €1,187 | -€217 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €300,125 | €426,932 | +€126,807 | +42.3% |
| Income taxes | 67/77 | €72,636 | €104,453 | +€31,817 | +43.8% |
| Profit (loss) for the period | 9904 | €227,489 | €322,480 | +€94,990 | +41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €227,489 | €322,480 | +€94,990 | +41.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.