DR MATHIEU VANDEPUTTE: 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 MATHIEU VANDEPUTTE
Largest movements
- Cash +€105,673
up €105,673 (+240.4%), from €43,957 to €149,630
mainly Net result for the year (+€141,681) and Accrued charges and deferred income (+€2,274)
- Receivables within one year +€28,298
up €28,298 (+32.3%), from €87,517 to €115,814
of which Trade receivables: +€55,828
- Tangible fixed assets -€3,167
down €3,167 (-28.0%), from €11,293 to €8,126
of which Furniture and vehicles: -€2,586
- Profit (loss) carried forward +€141,681
up €141,681 (+127.0%), from €111,564 to €253,245
- Tax, wage and social debts -€10,552
down €10,552 (-47.4%), from €22,251 to €11,700
- Gross operating margin +€45,672
up €45,672 (+31.9%), from €143,044 to €188,716
- Taxes +€11,104
up €11,104 (+36.3%), from €30,596 to €41,700
- Other operating charges +€3,088
up €3,088 (+324.4%), from €952 to €4,040
- Depreciation -€1,973
down €1,973 (-61.2%), from €3,225 to €1,252
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 | €143,450 | €275,888 | +€132,439 | +92.3% |
| Fixed assets | 21/28 | €11,293 | €8,126 | -€3,167 | -28.0% |
| Tangible fixed assets | 22/27 | €11,293 | €8,126 | -€3,167 | -28.0% |
| Plant, machinery and equipment | 23 | €2,379 | €1,798 | -€581 | -24.4% |
| Furniture and vehicles | 24 | €8,914 | €6,328 | -€2,586 | -29.0% |
| Current assets | 29/58 | €132,157 | €267,763 | +€135,605 | +102.6% |
| Amounts receivable within one year | 40/41 | €87,517 | €115,814 | +€28,298 | +32.3% |
| Trade receivables | 40 | - | €55,828 | +€55,828 | |
| Other amounts receivable | 41 | €87,517 | €59,986 | -€27,530 | -31.5% |
| Cash at bank and in hand | 54/58 | €43,957 | €149,630 | +€105,673 | +240.4% |
| Deferred charges and accrued income | 490/1 | €684 | €2,318 | +€1,634 | +239.1% |
| Total equity and liabilities | 10/49 | €143,450 | €275,888 | +€132,439 | +92.3% |
| Equity | 10/15 | €116,564 | €258,245 | +€141,681 | +121.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,564 | €253,245 | +€141,681 | +127.0% |
| Amounts payable | 17/49 | €26,886 | €17,644 | -€9,242 | -34.4% |
| Amounts payable within one year | 42/48 | €26,886 | €15,370 | -€11,516 | -42.8% |
| Trade debts | 44 | €4,635 | €3,670 | -€965 | -20.8% |
| Suppliers | 440/4 | €4,635 | €3,670 | -€965 | -20.8% |
| Taxes, remuneration and social security | 45 | €22,251 | €11,700 | -€10,552 | -47.4% |
| Taxes | 450/3 | €22,251 | €11,700 | -€10,552 | -47.4% |
| Accrued charges and deferred income | 492/3 | - | €2,274 | +€2,274 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,225 | €1,252 | -€1,973 | -61.2% |
| Other operating charges | 640/8 | €952 | €4,040 | +€3,088 | +324.4% |
| Gross operating margin | 9900 | €143,044 | €188,716 | +€45,672 | +31.9% |
| Operating profit (loss) | 9901 | €138,867 | €183,425 | +€44,557 | +32.1% |
| Financial income | 75/76B | €101 | €1 | -€100 | -99.0% |
| Recurring financial income | 75 | €101 | €1 | -€100 | -99.0% |
| Financial charges | 65/66B | €848 | €45 | -€803 | -94.7% |
| Recurring financial charges | 65 | €848 | €45 | -€803 | -94.7% |
| Profit (loss) for the period before taxes | 9903 | €138,120 | €183,381 | +€45,261 | +32.8% |
| Income taxes | 67/77 | €30,596 | €41,700 | +€11,104 | +36.3% |
| Profit (loss) for the period | 9904 | €107,524 | €141,681 | +€34,157 | +31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €107,524 | €141,681 | +€34,157 | +31.8% |
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 7 October 2026 via checked.be.