Dr. Katrien D'haens: what changed
Dr. Katrien D'haens
Largest movements
- Cash +€38,565
up €38,565 (+219%), from €17,592 to €56,157
mainly Other debts (+€74,627) and Net result for the year (+€52,692)
- Receivables within one year -€6,156
down €6,156 (-59.6%), from €10,322 to €4,167
of which Other amounts receivable: -€4,318
- Tangible fixed assets -€1,370
down €1,370 (-7.3%), from €18,788 to €17,418
of which Plant, machinery and equipment: -€1,640
- Other debts +€74,627
up €74,627, from €0 to €74,627
- Reserves -€25,806
down €25,806 (-100%), from €25,806 to €0
- Tax, wage and social debts -€17,203
down €17,203 (-77.1%), from €22,317 to €5,115
of which Taxes: -€12,403
- Gross operating margin +€31,949
up €31,949 (+79.5%), from €40,175 to €72,124
- Taxes +€6,122
up €6,122 (+68.8%), from €8,893 to €15,015
- Other operating charges -€3,077
down €3,077 (-76.9%), from €3,999 to €923
- Depreciation +€2,032
up €2,032 (+155%), from €1,313 to €3,345
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 | €48,704 | €79,743 | +€31,038 | +63.7% |
| Fixed assets | 21/28 | €18,788 | €17,418 | -€1,370 | -7.3% |
| Tangible fixed assets | 22/27 | €18,788 | €17,418 | -€1,370 | -7.3% |
| Plant, machinery and equipment | 23 | €15,740 | €14,100 | -€1,640 | -10.4% |
| Furniture and vehicles | 24 | €3,048 | €3,318 | +€270 | +8.9% |
| Current assets | 29/58 | €29,916 | €62,324 | +€32,408 | +108% |
| Amounts receivable within one year | 40/41 | €10,322 | €4,167 | -€6,156 | -59.6% |
| Trade receivables | 40 | €1,928 | €90 | -€1,838 | -95.3% |
| Other amounts receivable | 41 | €8,395 | €4,077 | -€4,318 | -51.4% |
| Cash at bank and in hand | 54/58 | €17,592 | €56,157 | +€38,565 | +219% |
| Deferred charges and accrued income | 490/1 | €2,002 | €2,000 | -€1 | -0.1% |
| Total equity and liabilities | 10/49 | €48,704 | €79,743 | +€31,038 | +63.7% |
| Equity | 10/15 | €25,807 | €1 | -€25,806 | -100.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €25,806 | €0 | -€25,806 | -100% |
| Distributable reserves | 133 | €25,806 | €0 | -€25,806 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,898 | €79,742 | +€56,844 | +248% |
| Amounts payable within one year | 42/48 | €22,898 | €79,742 | +€56,844 | +248% |
| Trade debts | 44 | €581 | €0 | -€581 | -100% |
| Suppliers | 440/4 | €581 | €0 | -€581 | -100% |
| Taxes, remuneration and social security | 45 | €22,317 | €5,115 | -€17,203 | -77.1% |
| Taxes | 450/3 | €15,417 | €3,015 | -€12,403 | -80.4% |
| Remuneration and social security | 454/9 | €6,900 | €2,100 | -€4,800 | -69.6% |
| Other amounts payable | 47/48 | €0 | €74,627 | +€74,627 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,313 | €3,345 | +€2,032 | +155% |
| Other operating charges | 640/8 | €3,999 | €923 | -€3,077 | -76.9% |
| Gross operating margin | 9900 | €40,175 | €72,124 | +€31,949 | +79.5% |
| Operating profit (loss) | 9901 | €34,862 | €67,856 | +€32,994 | +94.6% |
| Financial income | 75/76B | €0 | €23 | +€23 | |
| Recurring financial income | 75 | €0 | €23 | +€23 | |
| Financial charges | 65/66B | €164 | €173 | +€9 | +5.4% |
| Recurring financial charges | 65 | €164 | €173 | +€9 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €34,698 | €67,707 | +€33,008 | +95.1% |
| Income taxes | 67/77 | €8,893 | €15,015 | +€6,122 | +68.8% |
| Profit (loss) for the period | 9904 | €25,806 | €52,692 | +€26,886 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €25,806 | €52,692 | +€26,886 | +104% |
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.