DR. LIBBRECHT ISABELLE: 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. LIBBRECHT ISABELLE
Largest movements
- Receivables within one year +€232,464
up €232,464 (+46.7%), from €498,162 to €730,626
of which Other amounts receivable: +€231,589
- Current investments +€58,162
up €58,162 (+12.0%), from €485,479 to €543,641
- Profit (loss) carried forward +€260,236
up €260,236 (+27.7%), from €937,983 to €1.2m
- Tax, wage and social debts +€35,221
up €35,221 (+65.0%), from €54,191 to €89,411
- Gross operating margin -€45,741
down €45,741 (-10.7%), from €426,099 to €380,358
- Taxes -€9,572
down €9,572 (-9.6%), from €99,910 to €90,338
- Financial income +€6,685
up €6,685 (+31.7%), from €21,113 to €27,798
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 | €1,127,304 | €1,410,531 | +€283,227 | +25.1% |
| Fixed assets | 21/28 | €117,625 | €109,700 | -€7,925 | -6.7% |
| Tangible fixed assets | 22/27 | €117,625 | €109,700 | -€7,925 | -6.7% |
| Land and buildings | 22 | €107,742 | €99,733 | -€8,009 | -7.4% |
| Furniture and vehicles | 24 | €9,883 | €9,967 | +€84 | +0.8% |
| Current assets | 29/58 | €1,009,679 | €1,300,831 | +€291,152 | +28.8% |
| Amounts receivable within one year | 40/41 | €498,162 | €730,626 | +€232,464 | +46.7% |
| Trade receivables | 40 | - | €875 | +€875 | |
| Other amounts receivable | 41 | €498,162 | €729,751 | +€231,589 | +46.5% |
| Current investments | 50/53 | €485,479 | €543,641 | +€58,162 | +12.0% |
| Cash at bank and in hand | 54/58 | €22,416 | €22,047 | -€370 | -1.6% |
| Deferred charges and accrued income | 490/1 | €3,622 | €4,518 | +€896 | +24.7% |
| Total equity and liabilities | 10/49 | €1,127,304 | €1,410,531 | +€283,227 | +25.1% |
| Equity | 10/15 | €1,015,757 | €1,275,993 | +€260,236 | +25.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €65,374 | €65,374 | = | 0.0% |
| 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 | €63,514 | €63,514 | = | 0.0% |
| Profit (loss) carried forward | 14 | €937,983 | €1,198,218 | +€260,236 | +27.7% |
| Amounts payable | 17/49 | €111,547 | €134,539 | +€22,992 | +20.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €111,547 | €134,539 | +€22,992 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €12,288 | €0 | -€12,288 | -100% |
| Trade debts | 44 | €68 | €127 | +€60 | +87.6% |
| Suppliers | 440/4 | €68 | €127 | +€60 | +87.6% |
| Taxes, remuneration and social security | 45 | €54,191 | €89,411 | +€35,221 | +65.0% |
| Taxes | 450/3 | €54,191 | €89,411 | +€35,221 | +65.0% |
| Other amounts payable | 47/48 | €45,000 | €45,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,964 | €11,451 | +€1,487 | +14.9% |
| Other operating charges | 640/8 | €1,132 | €440 | -€692 | -61.1% |
| Gross operating margin | 9900 | €426,099 | €380,358 | -€45,741 | -10.7% |
| Operating profit (loss) | 9901 | €415,003 | €368,467 | -€46,536 | -11.2% |
| Financial income | 75/76B | €21,113 | €27,798 | +€6,685 | +31.7% |
| Recurring financial income | 75 | €21,113 | €27,798 | +€6,685 | +31.7% |
| Financial charges | 65/66B | €1,141 | €692 | -€449 | -39.3% |
| Recurring financial charges | 65 | €1,141 | €692 | -€449 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €434,975 | €395,573 | -€39,402 | -9.1% |
| Income taxes | 67/77 | €99,910 | €90,338 | -€9,572 | -9.6% |
| Profit (loss) for the period | 9904 | €335,066 | €305,236 | -€29,830 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €335,066 | €305,236 | -€29,830 | -8.9% |
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 16 October 2026 via checked.be.