Dr. Julie Van Acker: 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. Julie Van Acker
Largest movements
- Cash +€35,078
up €35,078 (+57.4%), from €61,103 to €96,182
mainly Net result for the year (+€99,777) and Depreciation (+€12,141)
- Financial fixed assets +€33,891
up €33,891 (+96.0%), from €35,305 to €69,196
- Receivables within one year +€32,053
up €32,053 (+975%), from €3,287 to €35,341
of which Other amounts receivable: +€31,413
- Tangible fixed assets -€7,433
down €7,433 (-15.5%), from €48,069 to €40,637
- Reserves +€99,777
up €99,777 (+112%), from €88,876 to €188,653
- Debts after one year -€10,216
down €10,216 (-28.8%), from €35,526 to €25,310
- Tax, wage and social debts +€5,575
up €5,575 (+80.6%), from €6,917 to €12,492
- Gross operating margin +€39,447
up €39,447 (+39.0%), from €101,050 to €140,497
- Taxes +€8,742
up €8,742 (+46.2%), from €18,917 to €27,659
- Depreciation +€3,878
up €3,878 (+46.9%), from €8,263 to €12,141
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 | €152,362 | €246,877 | +€94,516 | +62.0% |
| Fixed assets | 21/28 | €83,374 | €109,832 | +€26,458 | +31.7% |
| Tangible fixed assets | 22/27 | €48,069 | €40,637 | -€7,433 | -15.5% |
| Furniture and vehicles | 24 | €48,069 | €40,637 | -€7,433 | -15.5% |
| Financial fixed assets | 28 | €35,305 | €69,196 | +€33,891 | +96.0% |
| Current assets | 29/58 | €68,987 | €137,045 | +€68,058 | +98.7% |
| Amounts receivable within one year | 40/41 | €3,287 | €35,341 | +€32,053 | +975% |
| Trade receivables | 40 | - | €640 | +€640 | |
| Other amounts receivable | 41 | €3,287 | €34,701 | +€31,413 | +956% |
| Cash at bank and in hand | 54/58 | €61,103 | €96,182 | +€35,078 | +57.4% |
| Deferred charges and accrued income | 490/1 | €4,597 | €5,523 | +€926 | +20.2% |
| Total equity and liabilities | 10/49 | €152,362 | €246,877 | +€94,516 | +62.0% |
| Equity | 10/15 | €93,876 | €193,653 | +€99,777 | +106% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €88,876 | €188,653 | +€99,777 | +112% |
| Distributable reserves | 133 | €88,876 | €188,653 | +€99,777 | +112% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €58,485 | €53,225 | -€5,261 | -9.0% |
| Amounts payable after more than one year | 17 | €35,526 | €25,310 | -€10,216 | -28.8% |
| Financial debts | 170/4 | €35,526 | €25,310 | -€10,216 | -28.8% |
| Amounts payable within one year | 42/48 | €22,672 | €27,605 | +€4,933 | +21.8% |
| Current portion of amounts payable after more than one year | 42 | €9,856 | €10,216 | +€360 | +3.6% |
| Trade debts | 44 | €2,440 | €1,106 | -€1,333 | -54.7% |
| Suppliers | 440/4 | €2,440 | €1,106 | -€1,333 | -54.7% |
| Taxes, remuneration and social security | 45 | €6,917 | €12,492 | +€5,575 | +80.6% |
| Taxes | 450/3 | €6,917 | €12,492 | +€5,575 | +80.6% |
| Other amounts payable | 47/48 | €3,459 | €3,791 | +€332 | +9.6% |
| Accrued charges and deferred income | 492/3 | €288 | €309 | +€21 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,263 | €12,141 | +€3,878 | +46.9% |
| Other operating charges | 640/8 | €192 | €296 | +€104 | +54.2% |
| Gross operating margin | 9900 | €101,050 | €140,497 | +€39,447 | +39.0% |
| Operating profit (loss) | 9901 | €92,595 | €128,060 | +€35,464 | +38.3% |
| Financial income | 75/76B | €319 | €1,534 | +€1,215 | +381% |
| Recurring financial income | 75 | €319 | €1,534 | +€1,215 | +381% |
| Financial charges | 65/66B | €1,525 | €2,158 | +€633 | +41.5% |
| Recurring financial charges | 65 | €1,525 | €2,158 | +€633 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €91,389 | €127,435 | +€36,047 | +39.4% |
| Income taxes | 67/77 | €18,917 | €27,659 | +€8,742 | +46.2% |
| Profit (loss) for the period | 9904 | €72,472 | €99,777 | +€27,305 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,472 | €99,777 | +€27,305 | +37.7% |
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 17 October 2026 via checked.be.