Dr Kimberly Stappers: 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 Kimberly Stappers
Largest movements
- Cash -€59,099
down €59,099 (-64.4%), from €91,732 to €32,633
mainly Contributions, distributions and other (-€131,794) and Receivables within one year (-€3,619)
- Receivables within one year +€3,619
up €3,619 (+80.8%), from €4,482 to €8,101
of which Other amounts receivable: +€7,816
- Deferred charges and accrued income +€3,563
up €3,563 (+185%), from €1,927 to €5,489
- Current investments +€3,396
up €3,396 (+34.0%), from €10,000 to €13,396
- Tangible fixed assets -€3,082
down €3,082 (-52.6%), from €5,856 to €2,774
of which Furniture and vehicles: -€5,793
- Reserves -€72,824
no longer reported in 2025 (was €72,824)
- Other debts +€15,678
up €15,678 (+45.5%), from €34,447 to €50,125
- Tax, wage and social debts +€8,937
new in 2025: €8,937
- Trade debts -€1,832
down €1,832 (-84.7%), from €2,163 to €331
- Current portion of long-term debt -€1,563
no longer reported in 2025 (was €1,563)
- Gross operating margin -€17,296
down €17,296 (-17.5%), from €98,665 to €81,369
- Depreciation -€6,275
down €6,275 (-94.6%), from €6,632 to €357
- Financial income -€1,867
down €1,867 (-74.4%), from €2,511 to €644
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 | €113,996 | €62,393 | -€51,603 | -45.3% |
| Fixed assets | 21/28 | €5,856 | €2,774 | -€3,082 | -52.6% |
| Tangible fixed assets | 22/27 | €5,856 | €2,774 | -€3,082 | -52.6% |
| Land and buildings | 22 | €32 | - | -€32 | |
| Plant, machinery and equipment | 23 | - | €2,743 | +€2,743 | |
| Furniture and vehicles | 24 | €5,824 | €31 | -€5,793 | -99.5% |
| Current assets | 29/58 | €108,140 | €59,619 | -€48,521 | -44.9% |
| Amounts receivable within one year | 40/41 | €4,482 | €8,101 | +€3,619 | +80.8% |
| Trade receivables | 40 | €4,197 | - | -€4,197 | |
| Other amounts receivable | 41 | €284 | €8,101 | +€7,816 | +2,747% |
| Current investments | 50/53 | €10,000 | €13,396 | +€3,396 | +34.0% |
| Cash at bank and in hand | 54/58 | €91,732 | €32,633 | -€59,099 | -64.4% |
| Deferred charges and accrued income | 490/1 | €1,927 | €5,489 | +€3,563 | +185% |
| Total equity and liabilities | 10/49 | €113,996 | €62,393 | -€51,603 | -45.3% |
| Equity | 10/15 | €75,824 | €3,000 | -€72,824 | -96.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €72,824 | - | -€72,824 | |
| Distributable reserves | 133 | €72,824 | - | -€72,824 | |
| Amounts payable | 17/49 | €38,173 | €59,393 | +€21,221 | +55.6% |
| Amounts payable within one year | 42/48 | €38,173 | €59,393 | +€21,221 | +55.6% |
| Current portion of amounts payable after more than one year | 42 | €1,563 | - | -€1,563 | |
| Trade debts | 44 | €2,163 | €331 | -€1,832 | -84.7% |
| Suppliers | 440/4 | €2,163 | €331 | -€1,832 | -84.7% |
| Taxes, remuneration and social security | 45 | - | €8,937 | +€8,937 | |
| Taxes | 450/3 | - | €8,937 | +€8,937 | |
| Other amounts payable | 47/48 | €34,447 | €50,125 | +€15,678 | +45.5% |
| Non-recurring operating income | 76A | - | €5,488 | +€5,488 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,632 | €357 | -€6,275 | -94.6% |
| Other operating charges | 640/8 | €1,140 | €1,921 | +€781 | +68.5% |
| Gross operating margin | 9900 | €98,665 | €81,369 | -€17,296 | -17.5% |
| Operating profit (loss) | 9901 | €90,893 | €79,091 | -€11,802 | -13.0% |
| Financial income | 75/76B | €2,511 | €644 | -€1,867 | -74.4% |
| Recurring financial income | 75 | €2,511 | €644 | -€1,867 | -74.4% |
| Financial charges | 65/66B | €761 | €479 | -€282 | -37.1% |
| Recurring financial charges | 65 | €761 | €479 | -€282 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | €92,642 | €79,255 | -€13,387 | -14.5% |
| Income taxes | 67/77 | €19,819 | €20,285 | +€466 | +2.4% |
| Profit (loss) for the period | 9904 | €72,824 | €58,971 | -€13,853 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,824 | €58,971 | -€13,853 | -19.0% |
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 28 October 2026 via checked.be.