Dr. Lieve De Backer: what changed
Dr. Lieve De Backer
Largest movements
- Receivables after one year +€63,936
up €63,936 (+64.9%), from €98,518 to €162,454
- Cash +€47,617
up €47,617 (+50.0%), from €95,323 to €142,940
mainly Net result for the year (+€115,762) and Current portion of long-term debt (+€10,566)
- Receivables within one year +€10,558
new in 2025: €10,558
- Reserves +€115,762
up €115,762 (+69.1%), from €167,646 to €283,409
- Tax, wage and social debts -€11,400
down €11,400 (-16.4%), from €69,711 to €58,311
of which Taxes: -€13,500
- Current portion of long-term debt +€10,566
new in 2025: €10,566
- Other debts +€7,373
new in 2025: €7,373
- Gross operating margin -€65,740
down €65,740 (-29.7%), from €221,332 to €155,592
- Taxes -€17,268
down €17,268 (-33.4%), from €51,711 to €34,442
- Depreciation +€2,366
up €2,366 (+824%), from €287 to €2,653
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 | €243,732 | €367,975 | +€124,243 | +51.0% |
| Fixed assets | 21/28 | €6,001 | €6,244 | +€244 | +4.1% |
| Tangible fixed assets | 22/27 | €6,001 | €6,244 | +€244 | +4.1% |
| Furniture and vehicles | 24 | €6,001 | €6,244 | +€244 | +4.1% |
| Current assets | 29/58 | €237,731 | €361,731 | +€124,000 | +52.2% |
| Amounts receivable after more than one year | 29 | €98,518 | €162,454 | +€63,936 | +64.9% |
| Other amounts receivable | 291 | €98,518 | €162,454 | +€63,936 | +64.9% |
| Amounts receivable within one year | 40/41 | - | €10,558 | +€10,558 | |
| Other amounts receivable | 41 | - | €10,558 | +€10,558 | |
| Cash at bank and in hand | 54/58 | €95,323 | €142,940 | +€47,617 | +50.0% |
| Deferred charges and accrued income | 490/1 | €43,891 | €45,780 | +€1,889 | +4.3% |
| Total equity and liabilities | 10/49 | €243,732 | €367,975 | +€124,243 | +51.0% |
| Equity | 10/15 | €172,646 | €288,409 | +€115,762 | +67.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €167,646 | €283,409 | +€115,762 | +69.1% |
| Distributable reserves | 133 | €167,646 | €283,409 | +€115,762 | +69.1% |
| Amounts payable | 17/49 | €71,086 | €79,567 | +€8,481 | +11.9% |
| Amounts payable within one year | 42/48 | €71,086 | €78,807 | +€7,721 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | - | €10,566 | +€10,566 | |
| Trade debts | 44 | €1,375 | €2,557 | +€1,182 | +86.0% |
| Suppliers | 440/4 | €1,375 | €2,557 | +€1,182 | +86.0% |
| Taxes, remuneration and social security | 45 | €69,711 | €58,311 | -€11,400 | -16.4% |
| Taxes | 450/3 | €69,711 | €56,211 | -€13,500 | -19.4% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | - | €7,373 | +€7,373 | |
| Accrued charges and deferred income | 492/3 | - | €760 | +€760 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287 | €2,653 | +€2,366 | +824% |
| Other operating charges | 640/8 | €1,525 | €754 | -€771 | -50.5% |
| Gross operating margin | 9900 | €221,332 | €155,592 | -€65,740 | -29.7% |
| Operating profit (loss) | 9901 | €219,520 | €152,185 | -€67,335 | -30.7% |
| Financial charges | 65/66B | €163 | €1,980 | +€1,817 | +1,114% |
| Recurring financial charges | 65 | €163 | €1,980 | +€1,817 | +1,114% |
| Profit (loss) for the period before taxes | 9903 | €219,357 | €150,205 | -€69,152 | -31.5% |
| Income taxes | 67/77 | €51,711 | €34,442 | -€17,268 | -33.4% |
| Profit (loss) for the period | 9904 | €167,646 | €115,762 | -€51,884 | -30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €167,646 | €115,762 | -€51,884 | -30.9% |
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 4 November 2026 via checked.be.