DR. LIESBETH MOONS: 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 MOONS
Largest movements
- Tangible fixed assets -€10,296
down €10,296 (-24.1%), from €42,710 to €32,414
of which Furniture and vehicles: -€11,707
- Cash -€7,724
down €7,724 (-9.3%), from €82,998 to €75,274
mainly Tax, wage and social debts (-€13,332) and Debts after one year (-€11,001)
- Receivables after one year +€7,500
new in 2025: €7,500
- Receivables within one year -€1,550
down €1,550 (-50.3%), from €3,084 to €1,534
of which Trade receivables: -€1,554
- Deferred charges and accrued income +€1,291
new in 2025: €1,291
- Tax, wage and social debts -€13,332
down €13,332 (-70.8%), from €18,821 to €5,489
- Reserves +€12,465
up €12,465 (+19.4%), from €64,403 to €76,868
- Debts after one year -€11,001
down €11,001 (-37.6%), from €29,266 to €18,265
- Gross operating margin -€75,621
down €75,621 (-69.8%), from €108,382 to €32,761
- Taxes -€13,332
down €13,332 (-70.8%), from €18,821 to €5,489
- Depreciation -€6,734
down €6,734 (-35.6%), from €18,928 to €12,194
- Financial charges -€1,978
down €1,978 (-58.1%), from €3,406 to €1,428
- Other operating charges -€1,414
down €1,414 (-50.1%), from €2,824 to €1,410
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 | €128,792 | €118,013 | -€10,779 | -8.4% |
| Fixed assets | 21/28 | €42,710 | €32,414 | -€10,296 | -24.1% |
| Tangible fixed assets | 22/27 | €42,710 | €32,414 | -€10,296 | -24.1% |
| Plant, machinery and equipment | 23 | - | €1,739 | +€1,739 | |
| Furniture and vehicles | 24 | €41,342 | €29,635 | -€11,707 | -28.3% |
| Other tangible fixed assets | 26 | €1,368 | €1,040 | -€327 | -23.9% |
| Current assets | 29/58 | €86,083 | €85,600 | -€483 | -0.6% |
| Amounts receivable after more than one year | 29 | - | €7,500 | +€7,500 | |
| Other amounts receivable | 291 | - | €7,500 | +€7,500 | |
| Amounts receivable within one year | 40/41 | €3,084 | €1,534 | -€1,550 | -50.3% |
| Trade receivables | 40 | €3,001 | €1,446 | -€1,554 | -51.8% |
| Other amounts receivable | 41 | €84 | €88 | +€4 | +4.9% |
| Cash at bank and in hand | 54/58 | €82,998 | €75,274 | -€7,724 | -9.3% |
| Deferred charges and accrued income | 490/1 | - | €1,291 | +€1,291 | |
| Total equity and liabilities | 10/49 | €128,792 | €118,013 | -€10,779 | -8.4% |
| Equity | 10/15 | €69,403 | €81,868 | +€12,465 | +18.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €64,403 | €76,868 | +€12,465 | +19.4% |
| Distributable reserves | 133 | €64,403 | €76,868 | +€12,465 | +19.4% |
| Amounts payable | 17/49 | €59,389 | €36,145 | -€23,244 | -39.1% |
| Amounts payable after more than one year | 17 | €29,266 | €18,265 | -€11,001 | -37.6% |
| Financial debts | 170/4 | €29,266 | €18,265 | -€11,001 | -37.6% |
| Amounts payable within one year | 42/48 | €30,123 | €17,880 | -€12,243 | -40.6% |
| Current portion of amounts payable after more than one year | 42 | €10,605 | €11,001 | +€396 | +3.7% |
| Taxes, remuneration and social security | 45 | €18,821 | €5,489 | -€13,332 | -70.8% |
| Taxes | 450/3 | €18,821 | €5,489 | -€13,332 | -70.8% |
| Other amounts payable | 47/48 | €697 | €1,389 | +€693 | +99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,928 | €12,194 | -€6,734 | -35.6% |
| Other operating charges | 640/8 | €2,824 | €1,410 | -€1,414 | -50.1% |
| Gross operating margin | 9900 | €108,382 | €32,761 | -€75,621 | -69.8% |
| Operating profit (loss) | 9901 | €86,630 | €19,157 | -€67,473 | -77.9% |
| Financial income | 75/76B | €0 | €225 | +€225 | +74900.0% |
| Recurring financial income | 75 | €0 | €225 | +€225 | +74900.0% |
| Financial charges | 65/66B | €3,406 | €1,428 | -€1,978 | -58.1% |
| Recurring financial charges | 65 | €3,406 | €1,428 | -€1,978 | -58.1% |
| Profit (loss) for the period before taxes | 9903 | €83,224 | €17,955 | -€65,270 | -78.4% |
| Income taxes | 67/77 | €18,821 | €5,489 | -€13,332 | -70.8% |
| Profit (loss) for the period | 9904 | €64,403 | €12,465 | -€51,938 | -80.6% |
| Profit (loss) for the period to be appropriated | 9905 | €64,403 | €12,465 | -€51,938 | -80.6% |
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 12 October 2026 via checked.be.