DR. LAUREN VANDEPITTE: 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. LAUREN VANDEPITTE
Largest movements
- Cash +€73,824
up €73,824 (+97.4%), from €75,783 to €149,607
mainly Net result for the year (+€78,889) and Tax, wage and social debts (+€20,612)
- Intangible fixed assets +€16,108
up €16,108 (+65.6%), from €24,558 to €40,667
- Receivables within one year -€4,567
down €4,567 (-9.2%), from €49,573 to €45,006
of which Trade receivables: -€5,441
- Reserves +€78,889
up €78,889 (+68.7%), from €114,822 to €193,711
- Tax, wage and social debts +€20,612
up €20,612 (+91.0%), from €22,656 to €43,268
- Other debts -€13,572
no longer reported in 2025 (was €13,572)
- Gross operating margin -€4,841
down €4,841 (-4.4%), from €110,062 to €105,220
- Depreciation +€1,735
up €1,735 (+54.9%), from €3,163 to €4,898
- Financial charges -€1,326
down €1,326 (-69.9%), from €1,896 to €570
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 | €155,568 | €240,916 | +€85,348 | +54.9% |
| Fixed assets | 21/28 | €28,354 | €43,197 | +€14,843 | +52.3% |
| Intangible fixed assets | 21 | €24,558 | €40,667 | +€16,108 | +65.6% |
| Tangible fixed assets | 22/27 | €3,796 | €2,531 | -€1,265 | -33.3% |
| Furniture and vehicles | 24 | €3,796 | €2,531 | -€1,265 | -33.3% |
| Current assets | 29/58 | €127,213 | €197,719 | +€70,505 | +55.4% |
| Amounts receivable within one year | 40/41 | €49,573 | €45,006 | -€4,567 | -9.2% |
| Trade receivables | 40 | €38,090 | €32,649 | -€5,441 | -14.3% |
| Other amounts receivable | 41 | €11,483 | €12,358 | +€875 | +7.6% |
| Cash at bank and in hand | 54/58 | €75,783 | €149,607 | +€73,824 | +97.4% |
| Deferred charges and accrued income | 490/1 | €1,857 | €3,105 | +€1,248 | +67.2% |
| Total equity and liabilities | 10/49 | €155,568 | €240,916 | +€85,348 | +54.9% |
| Equity | 10/15 | €115,822 | €194,711 | +€78,889 | +68.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €114,822 | €193,711 | +€78,889 | +68.7% |
| Distributable reserves | 133 | €114,822 | €193,711 | +€78,889 | +68.7% |
| Amounts payable | 17/49 | €39,745 | €46,205 | +€6,460 | +16.3% |
| Amounts payable within one year | 42/48 | €38,193 | €45,326 | +€7,133 | +18.7% |
| Trade debts | 44 | €1,964 | €2,058 | +€94 | +4.8% |
| Suppliers | 440/4 | €1,964 | €2,058 | +€94 | +4.8% |
| Taxes, remuneration and social security | 45 | €22,656 | €43,268 | +€20,612 | +91.0% |
| Taxes | 450/3 | €22,656 | €43,268 | +€20,612 | +91.0% |
| Other amounts payable | 47/48 | €13,572 | - | -€13,572 | |
| Accrued charges and deferred income | 492/3 | €1,553 | €880 | -€673 | -43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,163 | €4,898 | +€1,735 | +54.9% |
| Other operating charges | 640/8 | €251 | €257 | +€6 | +2.4% |
| Gross operating margin | 9900 | €110,062 | €105,220 | -€4,841 | -4.4% |
| Operating profit (loss) | 9901 | €106,648 | €100,065 | -€6,582 | -6.2% |
| Financial income | 75/76B | €3 | €576 | +€573 | +19,179% |
| Recurring financial income | 75 | €3 | €576 | +€573 | +19,179% |
| Financial charges | 65/66B | €1,896 | €570 | -€1,326 | -69.9% |
| Recurring financial charges | 65 | €1,896 | €570 | -€1,326 | -69.9% |
| Profit (loss) for the period before taxes | 9903 | €104,755 | €100,071 | -€4,683 | -4.5% |
| Income taxes | 67/77 | €22,100 | €21,183 | -€918 | -4.2% |
| Profit (loss) for the period | 9904 | €82,654 | €78,889 | -€3,766 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,654 | €78,889 | -€3,766 | -4.6% |
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 25 October 2026 via checked.be.