Dr. Loïc Flamey: what changed
Two fiscal 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. Loïc Flamey
Largest movements
- Cash +€14,544
up €14,544 (+202.0%), from €7,200 to €21,744
mainly Net result for the year (+€18,758) and Tax, wage and social debts (+€4,909)
- Deferred charges and accrued income +€10,000
new in 2025: €10,000
- Tangible fixed assets -€473
down €473 (-35.1%), from €1,348 to €875
- Reserves +€18,758
up €18,758 (+602.8%), from €3,112 to €21,870
- Tax, wage and social debts +€4,909
up €4,909 (+145.0%), from €3,385 to €8,293
- Trade debts +€404
new in 2025: €404
- Gross operating margin +€24,200
up €24,200 (+545.9%), from €4,433 to €28,633
- Taxes +€4,909
up €4,909 (+432.6%), from €1,135 to €6,043
- Financial charges +€2,791
up €2,791 (+27906.7%), from €10 to €2,801
- Other operating charges +€465
up €465 (+440.4%), from €106 to €570
- Depreciation +€402
up €402 (+563.7%), from €71 to €473
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 | €8,548 | €32,619 | +€24,071 | +281.6% |
| Fixed assets | 21/28 | €1,348 | €875 | -€473 | -35.1% |
| Tangible fixed assets | 22/27 | €1,348 | €875 | -€473 | -35.1% |
| Furniture and vehicles | 24 | €1,348 | €875 | -€473 | -35.1% |
| Current assets | 29/58 | €7,200 | €31,744 | +€24,544 | +340.9% |
| Cash at bank and in hand | 54/58 | €7,200 | €21,744 | +€14,544 | +202.0% |
| Deferred charges and accrued income | 490/1 | - | €10,000 | +€10,000 | |
| Total equity and liabilities | 10/49 | €8,548 | €32,619 | +€24,071 | +281.6% |
| Equity | 10/15 | €5,112 | €23,870 | +€18,758 | +367.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €3,112 | €21,870 | +€18,758 | +602.8% |
| Distributable reserves | 133 | €3,112 | €21,870 | +€18,758 | +602.8% |
| Amounts payable | 17/49 | €3,436 | €8,749 | +€5,313 | +154.6% |
| Amounts payable within one year | 42/48 | €3,436 | €8,749 | +€5,313 | +154.6% |
| Trade debts | 44 | - | €404 | +€404 | |
| Suppliers | 440/4 | - | €404 | +€404 | |
| Taxes, remuneration and social security | 45 | €3,385 | €8,293 | +€4,909 | +145.0% |
| Taxes | 450/3 | €3,385 | €8,293 | +€4,909 | +145.0% |
| Other amounts payable | 47/48 | €51 | €51 | +€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71 | €473 | +€402 | +563.7% |
| Other operating charges | 640/8 | €106 | €570 | +€465 | +440.4% |
| Gross operating margin | 9900 | €4,433 | €28,633 | +€24,200 | +545.9% |
| Operating profit (loss) | 9901 | €4,256 | €27,590 | +€23,334 | +548.2% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €10 | €2,801 | +€2,791 | +27906.7% |
| Recurring financial charges | 65 | €10 | €2,801 | +€2,791 | +27906.7% |
| Profit (loss) for the period before taxes | 9903 | €4,246 | €24,802 | +€20,555 | +484.1% |
| Income taxes | 67/77 | €1,135 | €6,043 | +€4,909 | +432.6% |
| Profit (loss) for the period | 9904 | €3,112 | €18,758 | +€15,647 | +502.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,112 | €18,758 | +€15,647 | +502.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.