Dr Noémie CHAMART: 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 Noémie CHAMART
Largest movements
- Cash +€84,710
up €84,710 (+80.5%), from €105,258 to €189,968
mainly Net result for the year (+€69,946) and Tax, wage and social debts (+€18,453)
- Receivables within one year +€10,257
up €10,257 (+120%), from €8,525 to €18,782
- Tangible fixed assets -€8,418
down €8,418 (-20.3%), from €41,467 to €33,049
of which Furniture and vehicles: -€11,174
- Profit (loss) carried forward +€70,298
up €70,298 (+54.7%), from €128,565 to €198,863
- Tax, wage and social debts +€18,453
up €18,453 (+76.4%), from €24,153 to €42,605
- Gross operating margin -€11,229
down €11,229 (-10.2%), from €109,761 to €98,532
- Taxes -€2,467
down €2,467 (-12.2%), from €20,153 to €17,685
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 | €157,606 | €243,968 | +€86,362 | +54.8% |
| Fixed assets | 21/28 | €41,467 | €33,049 | -€8,418 | -20.3% |
| Tangible fixed assets | 22/27 | €41,467 | €33,049 | -€8,418 | -20.3% |
| Plant, machinery and equipment | 23 | - | €2,756 | +€2,756 | |
| Furniture and vehicles | 24 | €41,467 | €30,292 | -€11,174 | -26.9% |
| Current assets | 29/58 | €116,140 | €210,919 | +€94,780 | +81.6% |
| Amounts receivable within one year | 40/41 | €8,525 | €18,782 | +€10,257 | +120% |
| Other amounts receivable | 41 | €8,525 | €18,782 | +€10,257 | +120% |
| Cash at bank and in hand | 54/58 | €105,258 | €189,968 | +€84,710 | +80.5% |
| Deferred charges and accrued income | 490/1 | €2,356 | €2,169 | -€188 | -8.0% |
| Total equity and liabilities | 10/49 | €157,606 | €243,968 | +€86,362 | +54.8% |
| Equity | 10/15 | €131,065 | €201,363 | +€70,298 | +53.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,565 | €198,863 | +€70,298 | +54.7% |
| Amounts payable | 17/49 | €26,542 | €42,605 | +€16,064 | +60.5% |
| Amounts payable within one year | 42/48 | €26,542 | €42,605 | +€16,064 | +60.5% |
| Trade debts | 44 | €2,389 | - | -€2,389 | |
| Suppliers | 440/4 | €2,389 | - | -€2,389 | |
| Taxes, remuneration and social security | 45 | €24,153 | €42,605 | +€18,453 | +76.4% |
| Taxes | 450/3 | €24,153 | €42,605 | +€18,453 | +76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,174 | €11,208 | +€34 | +0.3% |
| Other operating charges | 640/8 | €1,144 | €295 | -€848 | -74.2% |
| Gross operating margin | 9900 | €109,761 | €98,532 | -€11,229 | -10.2% |
| Operating profit (loss) | 9901 | €97,444 | €87,029 | -€10,415 | -10.7% |
| Financial income | 75/76B | €465 | €753 | +€288 | +62.0% |
| Recurring financial income | 75 | €465 | €753 | +€288 | +62.0% |
| Financial charges | 65/66B | €108 | €150 | +€42 | +39.3% |
| Recurring financial charges | 65 | €108 | €150 | +€42 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | €97,801 | €87,632 | -€10,169 | -10.4% |
| Income taxes | 67/77 | €20,153 | €17,685 | -€2,467 | -12.2% |
| Profit (loss) for the period | 9904 | €77,648 | €69,946 | -€7,701 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €77,648 | €69,946 | -€7,701 | -9.9% |
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 28 October 2026 via checked.be.