Dr. Sam Baete: 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. Sam Baete
Largest movements
- Cash +€24,690
up €24,690 (+7.6%), from €326,669 to €351,359
mainly Net result for the year (+€303,592) and Depreciation (+€4,955)
- Deferred charges and accrued income +€13,761
up €13,761 (+7.6%), from €180,289 to €194,050
- Profit (loss) carried forward +€300,092
up €300,092, from €0 to €300,092
- Other debts -€224,310
down €224,310 (-47.8%), from €469,661 to €245,351
- Tax, wage and social debts -€36,559
down €36,559 (-97.3%), from €37,559 to €1,000
- Gross operating margin +€26,380
up €26,380 (+7.0%), from €377,873 to €404,253
- Taxes +€4,938
up €4,938 (+5.5%), from €89,858 to €94,795
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 | €513,177 | €551,983 | +€38,806 | +7.6% |
| Fixed assets | 21/28 | €6,069 | €1,114 | -€4,955 | -81.6% |
| Tangible fixed assets | 22/27 | €5,247 | €293 | -€4,955 | -94.4% |
| Furniture and vehicles | 24 | €5,247 | €293 | -€4,955 | -94.4% |
| Financial fixed assets | 28 | €822 | €822 | = | 0.0% |
| Current assets | 29/58 | €507,108 | €550,868 | +€43,760 | +8.6% |
| Amounts receivable within one year | 40/41 | €150 | €5,460 | +€5,310 | +3,540% |
| Trade receivables | 40 | €150 | €255 | +€105 | +70.0% |
| Other amounts receivable | 41 | €0 | €5,205 | +€5,205 | |
| Cash at bank and in hand | 54/58 | €326,669 | €351,359 | +€24,690 | +7.6% |
| Deferred charges and accrued income | 490/1 | €180,289 | €194,050 | +€13,761 | +7.6% |
| Total equity and liabilities | 10/49 | €513,177 | €551,983 | +€38,806 | +7.6% |
| Equity | 10/15 | €5,000 | €305,092 | +€300,092 | +6,002% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €300,092 | +€300,092 | |
| Amounts payable | 17/49 | €508,177 | €246,891 | -€261,287 | -51.4% |
| Amounts payable within one year | 42/48 | €508,177 | €246,891 | -€261,287 | -51.4% |
| Financial debts | 43 | €0 | €99 | +€99 | |
| Credit institutions | 430/8 | €0 | €99 | +€99 | |
| Trade debts | 44 | €958 | €441 | -€517 | -54.0% |
| Suppliers | 440/4 | €958 | €441 | -€517 | -54.0% |
| Taxes, remuneration and social security | 45 | €37,559 | €1,000 | -€36,559 | -97.3% |
| Taxes | 450/3 | €37,559 | €1,000 | -€36,559 | -97.3% |
| Other amounts payable | 47/48 | €469,661 | €245,351 | -€224,310 | -47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,062 | €4,955 | -€1,108 | -18.3% |
| Other operating charges | 640/8 | €830 | €815 | -€15 | -1.8% |
| Gross operating margin | 9900 | €377,873 | €404,253 | +€26,380 | +7.0% |
| Operating profit (loss) | 9901 | €370,981 | €398,484 | +€27,503 | +7.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -33.3% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -33.3% |
| Financial charges | 65/66B | €89 | €96 | +€8 | +8.5% |
| Recurring financial charges | 65 | €89 | €96 | +€8 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €370,893 | €398,388 | +€27,495 | +7.4% |
| Income taxes | 67/77 | €89,858 | €94,795 | +€4,938 | +5.5% |
| Profit (loss) for the period | 9904 | €281,035 | €303,592 | +€22,558 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €281,035 | €303,592 | +€22,558 | +8.0% |
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 21 October 2026 via checked.be.