Dr. Laura Puype: 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. Laura Puype
Largest movements
- Current investments -€190,000
down €190,000 (-100%), from €190,000 to €0
- Receivables within one year +€41,387
up €41,387 (+43.9%), from €94,383 to €135,771
of which Trade receivables: +€34,238
- Tangible fixed assets +€23,813
up €23,813 (+511%), from €4,656 to €28,469
- Cash -€23,334
down €23,334 (-21.7%), from €107,703 to €84,369
mainly Contributions, distributions and other (-€376,921) and Tax, wage and social debts (-€59,463)
- Reserves -€330,489
down €330,489 (-100%), from €330,489 to €0
- Profit (loss) carried forward +€200,000
new in 2025: €200,000
- Tax, wage and social debts -€59,463
down €59,463 (-95.1%), from €62,519 to €3,055
of which Taxes: -€59,463
- Other debts +€44,355
up €44,355 (+1,895%), from €2,341 to €46,696
- Gross operating margin +€71,995
up €71,995 (+28.3%), from €254,763 to €326,758
- Taxes +€16,831
up €16,831 (+27.8%), from €60,452 to €77,283
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 | €402,769 | €256,345 | -€146,423 | -36.4% |
| Fixed assets | 21/28 | €4,656 | €28,469 | +€23,813 | +511% |
| Tangible fixed assets | 22/27 | €4,656 | €28,469 | +€23,813 | +511% |
| Furniture and vehicles | 24 | €4,656 | €28,469 | +€23,813 | +511% |
| Current assets | 29/58 | €398,112 | €227,877 | -€170,236 | -42.8% |
| Amounts receivable within one year | 40/41 | €94,383 | €135,771 | +€41,387 | +43.9% |
| Trade receivables | 40 | €93,188 | €127,426 | +€34,238 | +36.7% |
| Other amounts receivable | 41 | €1,195 | €8,344 | +€7,149 | +598% |
| Current investments | 50/53 | €190,000 | €0 | -€190,000 | -100% |
| Cash at bank and in hand | 54/58 | €107,703 | €84,369 | -€23,334 | -21.7% |
| Deferred charges and accrued income | 490/1 | €6,026 | €7,737 | +€1,711 | +28.4% |
| Total equity and liabilities | 10/49 | €402,769 | €256,345 | -€146,423 | -36.4% |
| Equity | 10/15 | €335,489 | €205,000 | -€130,489 | -38.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €330,489 | €0 | -€330,489 | -100% |
| Distributable reserves | 133 | €330,489 | €0 | -€330,489 | -100% |
| Profit (loss) carried forward | 14 | - | €200,000 | +€200,000 | |
| Amounts payable | 17/49 | €67,280 | €51,345 | -€15,934 | -23.7% |
| Amounts payable within one year | 42/48 | €66,997 | €51,345 | -€15,651 | -23.4% |
| Trade debts | 44 | €2,137 | €1,594 | -€543 | -25.4% |
| Suppliers | 440/4 | €2,137 | €1,594 | -€543 | -25.4% |
| Taxes, remuneration and social security | 45 | €62,519 | €3,055 | -€59,463 | -95.1% |
| Taxes | 450/3 | €60,463 | €1,000 | -€59,463 | -98.3% |
| Remuneration and social security | 454/9 | €2,055 | €2,055 | = | 0.0% |
| Other amounts payable | 47/48 | €2,341 | €46,696 | +€44,355 | +1,895% |
| Accrued charges and deferred income | 492/3 | €283 | €0 | -€283 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €294 | €3,555 | +€3,261 | +1,110% |
| Other operating charges | 640/8 | €1,166 | €1,054 | -€112 | -9.6% |
| Non-recurring operating charges | 66A | €61 | €0 | -€61 | -100% |
| Gross operating margin | 9900 | €254,763 | €326,758 | +€71,995 | +28.3% |
| Operating profit (loss) | 9901 | €253,243 | €322,149 | +€68,907 | +27.2% |
| Financial income | 75/76B | €3,297 | €1,693 | -€1,604 | -48.7% |
| Recurring financial income | 75 | €3,297 | €1,693 | -€1,604 | -48.7% |
| Financial charges | 65/66B | €104 | €126 | +€23 | +22.1% |
| Recurring financial charges | 65 | €104 | €126 | +€23 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €256,436 | €323,716 | +€67,280 | +26.2% |
| Income taxes | 67/77 | €60,452 | €77,283 | +€16,831 | +27.8% |
| Profit (loss) for the period | 9904 | €195,984 | €246,433 | +€50,449 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €195,984 | €246,433 | +€50,449 | +25.7% |
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 18 October 2026 via checked.be.