DR. LIESBETH SCHUERMANS: what changed
DR. LIESBETH SCHUERMANS
Largest movements
- Cash +€60,701
up €60,701 (+89.6%), from €67,711 to €128,412
mainly Other debts (+€228,993) and Net result for the year (+€70,552)
- Deferred charges and accrued income +€5,634
up €5,634 (+23.3%), from €24,129 to €29,763
- Other debts +€228,993
up €228,993 (+3,333,233%), from €7 to €229,000
- Reserves -€158,448
down €158,448 (-99.6%), from €159,076 to €628
- Tax, wage and social debts -€4,169
down €4,169 (-49.3%), from €8,464 to €4,295
- Gross operating margin -€11,343
down €11,343 (-10.5%), from €108,490 to €97,147
- Depreciation +€6,438
up €6,438 (+438%), from €1,470 to €7,908
- Taxes -€4,036
down €4,036 (-18.3%), from €22,107 to €18,071
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €168,547 | €234,923 | +€66,377 | +39.4% |
| Fixed assets | 21/28 | €66,009 | €66,183 | +€174 | +0.3% |
| Tangible fixed assets | 22/27 | €66,009 | €66,183 | +€174 | +0.3% |
| Furniture and vehicles | 24 | - | €2,494 | +€2,494 | |
| Other tangible fixed assets | 26 | €66,009 | €63,689 | -€2,320 | -3.5% |
| Current assets | 29/58 | €102,538 | €168,740 | +€66,203 | +64.6% |
| Amounts receivable within one year | 40/41 | €10,697 | €10,566 | -€131 | -1.2% |
| Trade receivables | 40 | - | €72 | +€72 | |
| Other amounts receivable | 41 | €10,697 | €10,494 | -€203 | -1.9% |
| Cash at bank and in hand | 54/58 | €67,711 | €128,412 | +€60,701 | +89.6% |
| Deferred charges and accrued income | 490/1 | €24,129 | €29,763 | +€5,634 | +23.3% |
| Total equity and liabilities | 10/49 | €168,547 | €234,923 | +€66,377 | +39.4% |
| Equity | 10/15 | €160,076 | €1,628 | -€158,448 | -99.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €159,076 | €628 | -€158,448 | -99.6% |
| Distributable reserves | 133 | €159,076 | €628 | -€158,448 | -99.6% |
| Amounts payable | 17/49 | €8,470 | €233,295 | +€224,825 | +2,654% |
| Amounts payable within one year | 42/48 | €8,470 | €233,295 | +€224,825 | +2,654% |
| Taxes, remuneration and social security | 45 | €8,464 | €4,295 | -€4,169 | -49.3% |
| Taxes | 450/3 | €8,464 | €4,295 | -€4,169 | -49.3% |
| Other amounts payable | 47/48 | €7 | €229,000 | +€228,993 | +3,333,233% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,470 | €7,908 | +€6,438 | +438% |
| Other operating charges | 640/8 | €751 | €772 | +€21 | +2.7% |
| Gross operating margin | 9900 | €108,490 | €97,147 | -€11,343 | -10.5% |
| Operating profit (loss) | 9901 | €106,269 | €88,468 | -€17,801 | -16.8% |
| Financial income | 75/76B | €0 | €284 | +€284 | +948,000% |
| Recurring financial income | 75 | €0 | €284 | +€284 | +948,000% |
| Financial charges | 65/66B | €151 | €129 | -€22 | -14.3% |
| Recurring financial charges | 65 | €151 | €129 | -€22 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €106,118 | €88,623 | -€17,495 | -16.5% |
| Income taxes | 67/77 | €22,107 | €18,071 | -€4,036 | -18.3% |
| Profit (loss) for the period | 9904 | €84,011 | €70,552 | -€13,459 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €84,011 | €70,552 | -€13,459 | -16.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.