dr Lies De Sutter: 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 Lies De Sutter
Largest movements
- Intangible fixed assets -€15,272
down €15,272 (-12.8%), from €119,458 to €104,186
- Deferred charges and accrued income -€14,799
down €14,799 (-57.0%), from €25,954 to €11,155
- Cash +€12,182
up €12,182 (+146.6%), from €8,310 to €20,492
mainly Depreciation (+€21,114) and Deferred charges and accrued income (+€14,799)
- Receivables within one year +€10,855
up €10,855, from €0 to €10,855
of which Trade receivables: +€10,487
- Financial fixed assets -€3,600
down €3,600 (-100.0%), from €3,600 to €0
- Other debts -€14,976
down €14,976 (-25.6%), from €58,410 to €43,434
- Profit (loss) carried forward +€6,730
up €6,730 (+8.5%), from -€79,534 to -€72,804
- Gross operating margin +€12,144
up €12,144 (+38.2%), from €31,826 to €43,970
- Staff costs -€8,488
down €8,488 (-35.3%), from €24,034 to €15,546
- Depreciation +€647
up €647 (+3.2%), from €20,467 to €21,114
- Financial charges -€532
down €532 (-91.6%), from €581 to €49
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.
Cash bridge derived
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 | €169,767 | €159,476 | -€10,291 | -6.1% |
| Fixed assets | 21/28 | €135,503 | €113,374 | -€22,129 | -16.3% |
| Intangible fixed assets | 21 | €119,458 | €104,186 | -€15,272 | -12.8% |
| Tangible fixed assets | 22/27 | €12,445 | €9,188 | -€3,257 | -26.2% |
| Plant, machinery and equipment | 23 | €1,716 | €983 | -€733 | -42.7% |
| Furniture and vehicles | 24 | €10,729 | €8,205 | -€2,525 | -23.5% |
| Financial fixed assets | 28 | €3,600 | €0 | -€3,600 | -100.0% |
| Current assets | 29/58 | €34,264 | €46,102 | +€11,838 | +34.5% |
| Amounts receivable after more than one year | 29 | - | €3,600 | +€3,600 | |
| Other amounts receivable | 291 | - | €3,600 | +€3,600 | |
| Amounts receivable within one year | 40/41 | €0 | €10,855 | +€10,855 | |
| Trade receivables | 40 | - | €10,487 | +€10,487 | |
| Other amounts receivable | 41 | €0 | €368 | +€368 | |
| Cash at bank and in hand | 54/58 | €8,310 | €20,492 | +€12,182 | +146.6% |
| Deferred charges and accrued income | 490/1 | €25,954 | €11,155 | -€14,799 | -57.0% |
| Total equity and liabilities | 10/49 | €169,767 | €159,476 | -€10,291 | -6.1% |
| Equity | 10/15 | -€67,534 | -€60,804 | +€6,730 | +10.0% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,534 | -€72,804 | +€6,730 | +8.5% |
| Amounts payable | 17/49 | €237,301 | €220,280 | -€17,021 | -7.2% |
| Amounts payable after more than one year | 17 | €169,848 | €169,848 | = | 0.0% |
| Financial debts | 170/4 | €169,848 | €169,848 | = | 0.0% |
| Amounts payable within one year | 42/48 | €67,453 | €50,432 | -€17,021 | -25.2% |
| Trade debts | 44 | €4,616 | €2,922 | -€1,694 | -36.7% |
| Suppliers | 440/4 | €4,616 | €2,922 | -€1,694 | -36.7% |
| Taxes, remuneration and social security | 45 | €4,427 | €4,076 | -€351 | -7.9% |
| Taxes | 450/3 | €128 | €0 | -€128 | -100.0% |
| Remuneration and social security | 454/9 | €4,299 | €4,076 | -€223 | -5.2% |
| Other amounts payable | 47/48 | €58,410 | €43,434 | -€14,976 | -25.6% |
| Remuneration, social security and pensions | 62 | €24,034 | €15,546 | -€8,488 | -35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,467 | €21,114 | +€647 | +3.2% |
| Other operating charges | 640/8 | €783 | €400 | -€384 | -49.0% |
| Gross operating margin | 9900 | €31,826 | €43,970 | +€12,144 | +38.2% |
| Operating profit (loss) | 9901 | -€13,458 | €6,910 | +€20,369 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €581 | €49 | -€532 | -91.6% |
| Recurring financial charges | 65 | €581 | €49 | -€532 | -91.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,039 | €6,862 | +€20,900 | |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€14,167 | €6,730 | +€20,896 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,167 | €6,730 | +€20,896 |
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 12 October 2026 via checked.be.