Dr. Liesbeth Boets: 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. Liesbeth Boets
Largest movements
- Cash +€159,753
up €159,753 (+5,108%), from €3,127 to €162,880
mainly Net result for the year (+€143,272) and Tax, wage and social debts (+€41,245)
- Receivables within one year +€9,029
up €9,029 (+12.4%), from €72,682 to €81,711
- Reserves +€143,272
up €143,272 (+345%), from €41,540 to €184,812
- Tax, wage and social debts +€41,245
up €41,245 (+663%), from €6,223 to €47,468
of which Taxes: +€38,164
- Other debts -€22,404
down €22,404 (-100.0%), from €22,405 to €1
- Trade debts +€7,430
up €7,430 (+208%), from €3,570 to €11,000
- Gross operating margin +€143,049
up €143,049 (+279%), from €51,345 to €194,394
- Taxes +€41,627
up €41,627 (+669%), from €6,223 to €47,850
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 | €76,237 | €245,781 | +€169,544 | +222% |
| Current assets | 29/58 | €76,237 | €245,781 | +€169,544 | +222% |
| Amounts receivable within one year | 40/41 | €72,682 | €81,711 | +€9,029 | +12.4% |
| Trade receivables | 40 | €72,682 | €81,711 | +€9,029 | +12.4% |
| Cash at bank and in hand | 54/58 | €3,127 | €162,880 | +€159,753 | +5,108% |
| Deferred charges and accrued income | 490/1 | €428 | €1,190 | +€762 | +178% |
| Total equity and liabilities | 10/49 | €76,237 | €245,781 | +€169,544 | +222% |
| Equity | 10/15 | €44,040 | €187,312 | +€143,272 | +325% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €41,540 | €184,812 | +€143,272 | +345% |
| Distributable reserves | 133 | €41,540 | €184,812 | +€143,272 | +345% |
| Amounts payable | 17/49 | €32,198 | €58,469 | +€26,272 | +81.6% |
| Amounts payable within one year | 42/48 | €32,198 | €58,469 | +€26,272 | +81.6% |
| Trade debts | 44 | €3,570 | €11,000 | +€7,430 | +208% |
| Suppliers | 440/4 | €3,570 | €11,000 | +€7,430 | +208% |
| Taxes, remuneration and social security | 45 | €6,223 | €47,468 | +€41,245 | +663% |
| Taxes | 450/3 | €6,223 | €44,387 | +€38,164 | +613% |
| Remuneration and social security | 454/9 | - | €3,081 | +€3,081 | |
| Other amounts payable | 47/48 | €22,405 | €1 | -€22,404 | -100.0% |
| Other operating charges | 640/8 | €765 | €467 | -€299 | -39.0% |
| Gross operating margin | 9900 | €51,345 | €194,394 | +€143,049 | +279% |
| Operating profit (loss) | 9901 | €50,579 | €193,927 | +€143,348 | +283% |
| Financial charges | 65/66B | €2,816 | €2,805 | -€11 | -0.4% |
| Recurring financial charges | 65 | €2,816 | €2,805 | -€11 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €47,763 | €191,122 | +€143,359 | +300% |
| Income taxes | 67/77 | €6,223 | €47,850 | +€41,627 | +669% |
| Profit (loss) for the period | 9904 | €41,540 | €143,272 | +€101,732 | +245% |
| Profit (loss) for the period to be appropriated | 9905 | €41,540 | €143,272 | +€101,732 | +245% |
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 21 October 2026 via checked.be.