Dr. Katrien Van Proeyen: 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. Katrien Van Proeyen
Largest movements
- Cash +€19,326
up €19,326 (+70.8%), from €27,305 to €46,631
mainly Net result for the year (+€43,177) and Depreciation (+€17,425)
- Tangible fixed assets -€17,425
down €17,425 (-34.8%), from €50,103 to €32,678
of which Furniture and vehicles: -€16,671
- Reserves +€28,892
up €28,892 (+22.2%), from €130,299 to €159,190
of which Distributable reserves: +€28,892
- Debts after one year -€22,160
no longer reported in 2025 (was €22,160)
- Other debts -€12,000
no longer reported in 2025 (was €12,000)
- Tax, wage and social debts +€6,600
up €6,600 (+53.8%), from €12,275 to €18,875
of which Taxes: +€6,600
- Gross operating margin +€34,196
up €34,196 (+74.8%), from €45,706 to €79,901
- Taxes +€10,611
up €10,611 (+257%), from €4,132 to €14,743
- Other operating charges +€1,399
up €1,399 (+154%), from €909 to €2,307
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 | €213,206 | €215,915 | +€2,709 | +1.3% |
| Fixed assets | 21/28 | €50,103 | €32,678 | -€17,425 | -34.8% |
| Tangible fixed assets | 22/27 | €50,103 | €32,678 | -€17,425 | -34.8% |
| Plant, machinery and equipment | 23 | €820 | €66 | -€754 | -91.9% |
| Furniture and vehicles | 24 | €49,283 | €32,612 | -€16,671 | -33.8% |
| Current assets | 29/58 | €163,103 | €183,237 | +€20,134 | +12.3% |
| Amounts receivable within one year | 40/41 | €135,798 | €136,606 | +€808 | +0.6% |
| Other amounts receivable | 41 | €135,798 | €136,606 | +€808 | +0.6% |
| Cash at bank and in hand | 54/58 | €27,305 | €46,631 | +€19,326 | +70.8% |
| Total equity and liabilities | 10/49 | €213,206 | €215,915 | +€2,709 | +1.3% |
| Equity | 10/15 | €142,699 | €171,590 | +€28,892 | +20.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €130,299 | €159,190 | +€28,892 | +22.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €128,439 | €157,330 | +€28,892 | +22.5% |
| Amounts payable | 17/49 | €70,508 | €44,325 | -€26,183 | -37.1% |
| Amounts payable after more than one year | 17 | €22,160 | - | -€22,160 | |
| Financial debts | 170/4 | €22,160 | - | -€22,160 | |
| Amounts payable within one year | 42/48 | €48,348 | €44,325 | -€4,023 | -8.3% |
| Current portion of amounts payable after more than one year | 42 | €21,255 | €22,160 | +€905 | +4.3% |
| Trade debts | 44 | €2,818 | €3,290 | +€472 | +16.8% |
| Suppliers | 440/4 | €2,818 | €3,290 | +€472 | +16.8% |
| Taxes, remuneration and social security | 45 | €12,275 | €18,875 | +€6,600 | +53.8% |
| Taxes | 450/3 | €8,275 | €14,875 | +€6,600 | +79.8% |
| Remuneration and social security | 454/9 | €4,000 | €4,000 | = | 0.0% |
| Other amounts payable | 47/48 | €12,000 | - | -€12,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,568 | €17,425 | -€143 | -0.8% |
| Other operating charges | 640/8 | €909 | €2,307 | +€1,399 | +154% |
| Gross operating margin | 9900 | €45,706 | €79,901 | +€34,196 | +74.8% |
| Operating profit (loss) | 9901 | €27,229 | €60,169 | +€32,940 | +121% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,012 | €2,249 | -€763 | -25.3% |
| Recurring financial charges | 65 | €3,012 | €2,249 | -€763 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €24,217 | €57,920 | +€33,703 | +139% |
| Income taxes | 67/77 | €4,132 | €14,743 | +€10,611 | +257% |
| Profit (loss) for the period | 9904 | €20,085 | €43,177 | +€23,092 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €20,085 | €43,177 | +€23,092 | +115% |
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 23 October 2026 via checked.be.