Dr. Katelijne Maus: what changed
Dr. Katelijne Maus
Largest movements
- Cash -€50,984
down €50,984 (-24.8%), from €205,979 to €154,995
mainly Contributions, distributions and other (-€43,183) and Investment in fixed assets (net) (-€39,643)
- Tangible fixed assets +€33,776
up €33,776 (+665%), from €5,079 to €38,854
- Receivables within one year +€29,461
up €29,461 (+583%), from €5,057 to €34,518
- Deferred charges and accrued income -€9,248
down €9,248 (-37.7%), from €24,542 to €15,294
- Other debts +€40,901
up €40,901 (+1,792%), from €2,282 to €43,183
- Tax, wage and social debts -€35,927
no longer reported in 2025 (was €35,927)
- Gross operating margin -€86,112
down €86,112 (-58.8%), from €146,559 to €60,446
- Taxes -€19,865
down €19,865 (-63.3%), from €31,363 to €11,499
- Depreciation +€3,971
up €3,971 (+209%), from €1,897 to €5,867
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 | €240,657 | €243,661 | +€3,004 | +1.2% |
| Fixed assets | 21/28 | €5,079 | €38,854 | +€33,776 | +665% |
| Tangible fixed assets | 22/27 | €5,079 | €38,854 | +€33,776 | +665% |
| Furniture and vehicles | 24 | €5,079 | €38,854 | +€33,776 | +665% |
| Current assets | 29/58 | €235,578 | €204,806 | -€30,772 | -13.1% |
| Amounts receivable within one year | 40/41 | €5,057 | €34,518 | +€29,461 | +583% |
| Other amounts receivable | 41 | €5,057 | €34,518 | +€29,461 | +583% |
| Cash at bank and in hand | 54/58 | €205,979 | €154,995 | -€50,984 | -24.8% |
| Deferred charges and accrued income | 490/1 | €24,542 | €15,294 | -€9,248 | -37.7% |
| Total equity and liabilities | 10/49 | €240,657 | €243,661 | +€3,004 | +1.2% |
| Equity | 10/15 | €200,075 | €200,075 | = | 0.0% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €196,000 | €196,000 | = | 0.0% |
| Distributable reserves | 133 | €196,000 | €196,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €575 | €575 | = | 0.0% |
| Amounts payable | 17/49 | €40,582 | €43,586 | +€3,004 | +7.4% |
| Amounts payable within one year | 42/48 | €40,582 | €43,586 | +€3,004 | +7.4% |
| Trade debts | 44 | €2,373 | €403 | -€1,970 | -83.0% |
| Suppliers | 440/4 | €2,373 | €403 | -€1,970 | -83.0% |
| Taxes, remuneration and social security | 45 | €35,927 | - | -€35,927 | |
| Taxes | 450/3 | €35,927 | - | -€35,927 | |
| Other amounts payable | 47/48 | €2,282 | €43,183 | +€40,901 | +1,792% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,897 | €5,867 | +€3,971 | +209% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €146,559 | €60,446 | -€86,112 | -58.8% |
| Operating profit (loss) | 9901 | €144,093 | €53,993 | -€90,100 | -62.5% |
| Financial income | 75/76B | €57 | €733 | +€676 | +1,187% |
| Recurring financial income | 75 | €57 | €733 | +€676 | +1,187% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €144,106 | €54,682 | -€89,425 | -62.1% |
| Income taxes | 67/77 | €31,363 | €11,499 | -€19,865 | -63.3% |
| Profit (loss) for the period | 9904 | €112,743 | €43,183 | -€69,560 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €112,743 | €43,183 | -€69,560 | -61.7% |
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 5 November 2026 via checked.be.