Dr Sam Van Goethem: 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 Van Goethem
Largest movements
- Cash +€98,501
up €98,501 (+98.6%), from €99,927 to €198,428
mainly Net result for the year (+€74,128) and Tax, wage and social debts (+€21,179)
- Tangible fixed assets -€9,249
down €9,249 (-16.2%), from €57,082 to €47,833
of which Furniture and vehicles: -€8,807
- Profit (loss) carried forward +€74,128
up €74,128 (+58.2%), from €127,264 to €201,392
- Tax, wage and social debts +€21,179
up €21,179 (+203%), from €10,429 to €31,608
of which Taxes: +€19,779
- Debts after one year -€10,198
down €10,198 (-25.3%), from €40,377 to €30,178
- Trade debts +€3,749
up €3,749 (+287%), from €1,307 to €5,056
- Gross operating margin +€50,971
up €50,971 (+89.1%), from €57,212 to €108,183
- Depreciation +€9,270
up €9,270 (+218%), from €4,256 to €13,527
- Taxes +€8,932
up €8,932 (+84.8%), from €10,531 to €19,463
- Financial income +€1,104
up €1,104 (+145%), from €760 to €1,865
- Financial charges +€1,101
up €1,101 (+134%), from €821 to €1,922
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 | €190,187 | €279,433 | +€89,246 | +46.9% |
| Fixed assets | 21/28 | €57,082 | €47,833 | -€9,249 | -16.2% |
| Tangible fixed assets | 22/27 | €57,082 | €47,833 | -€9,249 | -16.2% |
| Plant, machinery and equipment | 23 | €2,115 | €1,673 | -€442 | -20.9% |
| Furniture and vehicles | 24 | €54,967 | €46,161 | -€8,807 | -16.0% |
| Current assets | 29/58 | €133,105 | €231,600 | +€98,495 | +74.0% |
| Amounts receivable within one year | 40/41 | €31,250 | €30,618 | -€631 | -2.0% |
| Trade receivables | 40 | €23,655 | €22,825 | -€830 | -3.5% |
| Other amounts receivable | 41 | €7,595 | €7,793 | +€199 | +2.6% |
| Cash at bank and in hand | 54/58 | €99,927 | €198,428 | +€98,501 | +98.6% |
| Deferred charges and accrued income | 490/1 | €1,928 | €2,553 | +€625 | +32.4% |
| Total equity and liabilities | 10/49 | €190,187 | €279,433 | +€89,246 | +46.9% |
| Equity | 10/15 | €128,264 | €202,392 | +€74,128 | +57.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,264 | €201,392 | +€74,128 | +58.2% |
| Amounts payable | 17/49 | €61,923 | €77,041 | +€15,119 | +24.4% |
| Amounts payable after more than one year | 17 | €40,377 | €30,178 | -€10,198 | -25.3% |
| Financial debts | 170/4 | €40,377 | €30,178 | -€10,198 | -25.3% |
| Amounts payable within one year | 42/48 | €21,546 | €46,863 | +€25,317 | +118% |
| Current portion of amounts payable after more than one year | 42 | €9,810 | €10,198 | +€389 | +4.0% |
| Trade debts | 44 | €1,307 | €5,056 | +€3,749 | +287% |
| Suppliers | 440/4 | €1,307 | €5,056 | +€3,749 | +287% |
| Taxes, remuneration and social security | 45 | €10,429 | €31,608 | +€21,179 | +203% |
| Taxes | 450/3 | €10,429 | €30,208 | +€19,779 | +190% |
| Remuneration and social security | 454/9 | - | €1,400 | +€1,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,256 | €13,527 | +€9,270 | +218% |
| Other operating charges | 640/8 | €633 | €1,008 | +€375 | +59.3% |
| Gross operating margin | 9900 | €57,212 | €108,183 | +€50,971 | +89.1% |
| Operating profit (loss) | 9901 | €52,323 | €93,648 | +€41,326 | +79.0% |
| Financial income | 75/76B | €760 | €1,865 | +€1,104 | +145% |
| Recurring financial income | 75 | €760 | €1,865 | +€1,104 | +145% |
| Financial charges | 65/66B | €821 | €1,922 | +€1,101 | +134% |
| Recurring financial charges | 65 | €821 | €1,922 | +€1,101 | +134% |
| Profit (loss) for the period before taxes | 9903 | €52,262 | €93,591 | +€41,329 | +79.1% |
| Income taxes | 67/77 | €10,531 | €19,463 | +€8,932 | +84.8% |
| Profit (loss) for the period | 9904 | €41,731 | €74,128 | +€32,397 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,731 | €74,128 | +€32,397 | +77.6% |
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 29 October 2026 via checked.be.