Dr Mathilde CARLIER: 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 Mathilde CARLIER
Largest movements
- Cash +€56,109
up €56,109 (+70.5%), from €79,582 to €135,691
mainly Net result for the year (+€47,746) and Tax, wage and social debts (+€6,418)
- Profit (loss) carried forward +€47,746
up €47,746 (+41.8%), from €114,342 to €162,088
- Tax, wage and social debts +€6,418
up €6,418 (+5,735%), from €112 to €6,530
- Gross operating margin +€14,111
up €14,111 (+27.5%), from €51,301 to €65,412
- Taxes +€2,774
up €2,774 (+25.6%), from €10,853 to €13,627
- Depreciation +€1,678
up €1,678 (+186%), from €903 to €2,580
- Financial income +€745
up €745 (+199%), from €374 to €1,119
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 | €122,482 | €178,515 | +€56,034 | +45.7% |
| Fixed assets | 21/28 | €8,964 | €9,595 | +€631 | +7.0% |
| Tangible fixed assets | 22/27 | €8,964 | €9,595 | +€631 | +7.0% |
| Plant, machinery and equipment | 23 | €987 | €666 | -€321 | -32.6% |
| Furniture and vehicles | 24 | €1,218 | €2,884 | +€1,666 | +137% |
| Other tangible fixed assets | 26 | €6,759 | €6,045 | -€714 | -10.6% |
| Current assets | 29/58 | €113,518 | €168,921 | +€55,403 | +48.8% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,784 | €759 | -€1,025 | -57.5% |
| Trade receivables | 40 | €188 | - | -€188 | |
| Other amounts receivable | 41 | €1,595 | €759 | -€837 | -52.5% |
| Cash at bank and in hand | 54/58 | €79,582 | €135,691 | +€56,109 | +70.5% |
| Deferred charges and accrued income | 490/1 | €2,152 | €2,472 | +€320 | +14.9% |
| Total equity and liabilities | 10/49 | €122,482 | €178,515 | +€56,034 | +45.7% |
| Equity | 10/15 | €116,342 | €164,088 | +€47,746 | +41.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,342 | €162,088 | +€47,746 | +41.8% |
| Amounts payable | 17/49 | €6,140 | €14,427 | +€8,288 | +135% |
| Amounts payable within one year | 42/48 | €112 | €7,910 | +€7,798 | +6,969% |
| Trade debts | 44 | - | €804 | +€804 | |
| Suppliers | 440/4 | - | €804 | +€804 | |
| Taxes, remuneration and social security | 45 | €112 | €6,530 | +€6,418 | +5,735% |
| Taxes | 450/3 | €112 | €6,530 | +€6,418 | +5,735% |
| Other amounts payable | 47/48 | - | €577 | +€577 | |
| Accrued charges and deferred income | 492/3 | €6,028 | €6,517 | +€490 | +8.1% |
| Remuneration, social security and pensions | 62 | €1,140 | €1,341 | +€200 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €903 | €2,580 | +€1,678 | +186% |
| Gross operating margin | 9900 | €51,301 | €65,412 | +€14,111 | +27.5% |
| Operating profit (loss) | 9901 | €49,258 | €61,491 | +€12,233 | +24.8% |
| Financial income | 75/76B | €374 | €1,119 | +€745 | +199% |
| Recurring financial income | 75 | €374 | €1,119 | +€745 | +199% |
| Financial charges | 65/66B | €1,291 | €1,237 | -€54 | -4.2% |
| Recurring financial charges | 65 | €1,291 | €1,237 | -€54 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €48,340 | €61,373 | +€13,033 | +27.0% |
| Income taxes | 67/77 | €10,853 | €13,627 | +€2,774 | +25.6% |
| Profit (loss) for the period | 9904 | €37,487 | €47,746 | +€10,259 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,487 | €47,746 | +€10,259 | +27.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.