Dr. Sarah Debussche: 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. Sarah Debussche
Largest movements
- Cash +€91,492
up €91,492 (+56.0%), from €163,441 to €254,933
mainly Net result for the year (+€123,674) and Depreciation (+€10,346)
- Current investments +€18,042
up €18,042 (+601%), from €3,000 to €21,042
- Tangible fixed assets -€9,696
down €9,696 (-19.9%), from €48,607 to €38,911
of which Furniture and vehicles: -€9,178
- Reserves +€123,674
up €123,674 (+83.5%), from €148,151 to €271,826
- Other debts -€15,309
down €15,309 (-95.6%), from €16,018 to €709
- Tax, wage and social debts -€8,604
down €8,604 (-16.0%), from €53,771 to €45,167
- Gross operating margin -€25,798
down €25,798 (-13.2%), from €195,723 to €169,926
- Taxes -€8,604
down €8,604 (-19.5%), from €44,237 to €35,633
- Depreciation +€7,974
up €7,974 (+336%), from €2,372 to €10,346
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 | €219,061 | €318,775 | +€99,714 | +45.5% |
| Fixed assets | 21/28 | €51,281 | €40,935 | -€10,346 | -20.2% |
| Intangible fixed assets | 21 | €2,675 | €2,025 | -€650 | -24.3% |
| Tangible fixed assets | 22/27 | €48,607 | €38,911 | -€9,696 | -19.9% |
| Plant, machinery and equipment | 23 | €4,889 | €4,371 | -€518 | -10.6% |
| Furniture and vehicles | 24 | €43,718 | €34,540 | -€9,178 | -21.0% |
| Current assets | 29/58 | €167,779 | €277,839 | +€110,060 | +65.6% |
| Current investments | 50/53 | €3,000 | €21,042 | +€18,042 | +601% |
| Cash at bank and in hand | 54/58 | €163,441 | €254,933 | +€91,492 | +56.0% |
| Deferred charges and accrued income | 490/1 | €1,339 | €1,864 | +€526 | +39.3% |
| Total equity and liabilities | 10/49 | €219,061 | €318,775 | +€99,714 | +45.5% |
| Equity | 10/15 | €149,151 | €272,826 | +€123,674 | +82.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €148,151 | €271,826 | +€123,674 | +83.5% |
| Distributable reserves | 133 | €148,151 | €271,826 | +€123,674 | +83.5% |
| Amounts payable | 17/49 | €69,909 | €45,949 | -€23,960 | -34.3% |
| Amounts payable within one year | 42/48 | €69,909 | €45,949 | -€23,960 | -34.3% |
| Trade debts | 44 | €120 | €73 | -€47 | -39.4% |
| Suppliers | 440/4 | €120 | €73 | -€47 | -39.4% |
| Taxes, remuneration and social security | 45 | €53,771 | €45,167 | -€8,604 | -16.0% |
| Taxes | 450/3 | €53,771 | €45,167 | -€8,604 | -16.0% |
| Other amounts payable | 47/48 | €16,018 | €709 | -€15,309 | -95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,372 | €10,346 | +€7,974 | +336% |
| Other operating charges | 640/8 | €963 | €295 | -€668 | -69.3% |
| Gross operating margin | 9900 | €195,723 | €169,926 | -€25,798 | -13.2% |
| Operating profit (loss) | 9901 | €192,388 | €159,284 | -€33,104 | -17.2% |
| Financial income | 75/76B | - | €43 | +€43 | |
| Recurring financial income | 75 | - | €43 | +€43 | |
| Financial charges | 65/66B | - | €20 | +€20 | |
| Recurring financial charges | 65 | - | €20 | +€20 | |
| Profit (loss) for the period before taxes | 9903 | €192,388 | €159,307 | -€33,081 | -17.2% |
| Income taxes | 67/77 | €44,237 | €35,633 | -€8,604 | -19.5% |
| Profit (loss) for the period | 9904 | €148,151 | €123,674 | -€24,477 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €148,151 | €123,674 | -€24,477 | -16.5% |
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 27 October 2026 via checked.be.