Dr. Marie-Sofie Walgraeve: 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. Marie-Sofie Walgraeve
Largest movements
- Deferred charges and accrued income -€73,746
down €73,746 (-40.7%), from €181,045 to €107,299
- Cash +€34,073
up €34,073 (+18.6%), from €182,761 to €216,834
mainly Net result for the year (+€286,181) and Deferred charges and accrued income (+€73,746)
- Tax, wage and social debts -€24,067
down €24,067 (-84.9%), from €28,338 to €4,272
- Reserves -€13,819
down €13,819 (-4.4%), from €315,564 to €301,745
- Gross operating margin -€18,837
down €18,837 (-4.7%), from €400,561 to €381,724
- Taxes -€7,790
down €7,790 (-7.8%), from €99,692 to €91,902
- Financial income -€4,505
down €4,505 (-99.8%), from €4,514 to €9
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 | €367,930 | €325,263 | -€42,666 | -11.6% |
| Fixed assets | 21/28 | €2,874 | €1,131 | -€1,743 | -60.7% |
| Tangible fixed assets | 22/27 | €2,874 | €1,131 | -€1,743 | -60.7% |
| Plant, machinery and equipment | 23 | €938 | €591 | -€347 | -37.0% |
| Furniture and vehicles | 24 | €1,936 | €540 | -€1,397 | -72.1% |
| Current assets | 29/58 | €365,055 | €324,133 | -€40,923 | -11.2% |
| Amounts receivable within one year | 40/41 | €1,250 | - | -€1,250 | |
| Trade receivables | 40 | €1,250 | - | -€1,250 | |
| Cash at bank and in hand | 54/58 | €182,761 | €216,834 | +€34,073 | +18.6% |
| Deferred charges and accrued income | 490/1 | €181,045 | €107,299 | -€73,746 | -40.7% |
| Total equity and liabilities | 10/49 | €367,930 | €325,263 | -€42,666 | -11.6% |
| Equity | 10/15 | €317,564 | €303,745 | -€13,819 | -4.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €315,564 | €301,745 | -€13,819 | -4.4% |
| Distributable reserves | 133 | €315,564 | €301,745 | -€13,819 | -4.4% |
| Amounts payable | 17/49 | €50,366 | €21,518 | -€28,848 | -57.3% |
| Amounts payable within one year | 42/48 | €48,958 | €20,220 | -€28,738 | -58.7% |
| Trade debts | 44 | €11,497 | €8,147 | -€3,350 | -29.1% |
| Suppliers | 440/4 | €11,497 | €8,147 | -€3,350 | -29.1% |
| Taxes, remuneration and social security | 45 | €28,338 | €4,272 | -€24,067 | -84.9% |
| Taxes | 450/3 | €28,338 | €4,272 | -€24,067 | -84.9% |
| Other amounts payable | 47/48 | €9,122 | €7,801 | -€1,321 | -14.5% |
| Accrued charges and deferred income | 492/3 | €1,408 | €1,298 | -€110 | -7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,710 | €1,743 | +€34 | +2.0% |
| Other operating charges | 640/8 | €693 | €944 | +€251 | +36.2% |
| Gross operating margin | 9900 | €400,561 | €381,724 | -€18,837 | -4.7% |
| Operating profit (loss) | 9901 | €398,159 | €379,037 | -€19,122 | -4.8% |
| Financial income | 75/76B | €4,514 | €9 | -€4,505 | -99.8% |
| Recurring financial income | 75 | €4,514 | €9 | -€4,505 | -99.8% |
| Financial charges | 65/66B | €1,116 | €963 | -€153 | -13.7% |
| Recurring financial charges | 65 | €1,116 | €963 | -€153 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €401,557 | €378,083 | -€23,474 | -5.8% |
| Income taxes | 67/77 | €99,692 | €91,902 | -€7,790 | -7.8% |
| Profit (loss) for the period | 9904 | €301,865 | €286,181 | -€15,684 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €301,865 | €286,181 | -€15,684 | -5.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.