Dr. K. Vansteenkiste: 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. K. Vansteenkiste
Largest movements
- Cash +€52,210
up €52,210 (+36.1%), from €144,749 to €196,959
mainly Net result for the year (+€70,179) and Receivables within one year (+€3,218)
- Deferred charges and accrued income +€11,955
up €11,955 (+75.8%), from €15,771 to €27,726
- Receivables within one year -€3,218
down €3,218 (-83.4%), from €3,857 to €639
of which Other amounts receivable: -€2,868
- Profit (loss) carried forward +€69,320
up €69,320 (+48.1%), from €144,172 to €213,492
- Tax, wage and social debts -€10,570
down €10,570 (-54.9%), from €19,261 to €8,691
of which Taxes: -€8,086
- Gross operating margin -€30,659
down €30,659 (-26.3%), from €116,667 to €86,008
- Taxes -€13,836
down €13,836 (-49.8%), from €27,777 to €13,941
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 | €168,047 | €227,846 | +€59,799 | +35.6% |
| Fixed assets | 21/28 | €3,670 | €2,522 | -€1,149 | -31.3% |
| Tangible fixed assets | 22/27 | €3,670 | €2,522 | -€1,149 | -31.3% |
| Plant, machinery and equipment | 23 | €1,251 | €931 | -€319 | -25.5% |
| Furniture and vehicles | 24 | €2,420 | €1,590 | -€830 | -34.3% |
| Current assets | 29/58 | €164,376 | €225,324 | +€60,948 | +37.1% |
| Amounts receivable within one year | 40/41 | €3,857 | €639 | -€3,218 | -83.4% |
| Trade receivables | 40 | €350 | - | -€350 | |
| Other amounts receivable | 41 | €3,507 | €639 | -€2,868 | -81.8% |
| Cash at bank and in hand | 54/58 | €144,749 | €196,959 | +€52,210 | +36.1% |
| Deferred charges and accrued income | 490/1 | €15,771 | €27,726 | +€11,955 | +75.8% |
| Total equity and liabilities | 10/49 | €168,047 | €227,846 | +€59,799 | +35.6% |
| Equity | 10/15 | €146,672 | €215,992 | +€69,320 | +47.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €144,172 | €213,492 | +€69,320 | +48.1% |
| Amounts payable | 17/49 | €21,375 | €11,854 | -€9,521 | -44.5% |
| Amounts payable within one year | 42/48 | €21,075 | €11,554 | -€9,521 | -45.2% |
| Trade debts | 44 | €1,814 | €2,863 | +€1,049 | +57.9% |
| Suppliers | 440/4 | €1,814 | €2,863 | +€1,049 | +57.9% |
| Taxes, remuneration and social security | 45 | €19,261 | €8,691 | -€10,570 | -54.9% |
| Taxes | 450/3 | €16,777 | €8,691 | -€8,086 | -48.2% |
| Remuneration and social security | 454/9 | €2,484 | - | -€2,484 | |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,010 | €1,149 | +€139 | +13.7% |
| Other operating charges | 640/8 | €678 | €691 | +€13 | +1.9% |
| Gross operating margin | 9900 | €116,667 | €86,008 | -€30,659 | -26.3% |
| Operating profit (loss) | 9901 | €114,980 | €84,168 | -€30,811 | -26.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €47 | €49 | +€2 | +4.0% |
| Recurring financial charges | 65 | €47 | €49 | +€2 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €114,933 | €84,119 | -€30,813 | -26.8% |
| Income taxes | 67/77 | €27,777 | €13,941 | -€13,836 | -49.8% |
| Profit (loss) for the period | 9904 | €87,156 | €70,179 | -€16,977 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,156 | €70,179 | -€16,977 | -19.5% |
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 22 October 2026 via checked.be.