Dr. Sarah Stroobants: 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 Stroobants
Largest movements
- Cash -€33,015
down €33,015 (-32.7%), from €101,085 to €68,069
mainly Contributions, distributions and other (-€190,000) and Other debts (-€93,290)
- Receivables within one year -€20,041
down €20,041 (-97.6%), from €20,541 to €500
of which Other amounts receivable: -€20,541
- Tangible fixed assets -€10,264
down €10,264 (-23.0%), from €44,637 to €34,374
of which Furniture and vehicles: -€10,405
- Other debts -€93,290
down €93,290 (-88.1%), from €105,852 to €12,562
- Reserves +€37,370
new in 2025: €37,370
- Debts after one year -€12,832
down €12,832 (-42.1%), from €30,481 to €17,649
- Tax, wage and social debts +€4,212
up €4,212 (+29.7%), from €14,171 to €18,383
of which Taxes: +€5,526
- Gross operating margin +€108,752
up €108,752 (+48.2%), from €225,837 to €334,589
- Other operating charges -€55,307
down €55,307 (-99.7%), from €55,493 to €186
- Taxes +€40,588
up €40,588 (+136%), from €29,853 to €70,441
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 | €168,645 | €105,324 | -€63,320 | -37.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €44,637 | €34,374 | -€10,264 | -23.0% |
| Tangible fixed assets | 22/27 | €44,637 | €34,374 | -€10,264 | -23.0% |
| Plant, machinery and equipment | 23 | €3,614 | €3,756 | +€142 | +3.9% |
| Furniture and vehicles | 24 | €41,023 | €30,618 | -€10,405 | -25.4% |
| Current assets | 29/58 | €124,008 | €70,951 | -€53,057 | -42.8% |
| Amounts receivable within one year | 40/41 | €20,541 | €500 | -€20,041 | -97.6% |
| Trade receivables | 40 | - | €500 | +€500 | |
| Other amounts receivable | 41 | €20,541 | - | -€20,541 | |
| Cash at bank and in hand | 54/58 | €101,085 | €68,069 | -€33,015 | -32.7% |
| Deferred charges and accrued income | 490/1 | €2,382 | €2,381 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €168,645 | €105,324 | -€63,320 | -37.5% |
| Equity | 10/15 | €3,000 | €40,370 | +€37,370 | +1,246% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €37,370 | +€37,370 | |
| Distributable reserves | 133 | - | €37,370 | +€37,370 | |
| Amounts payable | 17/49 | €165,645 | €64,955 | -€100,690 | -60.8% |
| Amounts payable after more than one year | 17 | €30,481 | €17,649 | -€12,832 | -42.1% |
| Financial debts | 170/4 | €30,481 | €17,649 | -€12,832 | -42.1% |
| Amounts payable within one year | 42/48 | €135,164 | €47,306 | -€87,859 | -65.0% |
| Current portion of amounts payable after more than one year | 42 | €12,494 | €12,832 | +€337 | +2.7% |
| Trade debts | 44 | €2,646 | €3,529 | +€882 | +33.3% |
| Suppliers | 440/4 | €2,646 | €3,529 | +€882 | +33.3% |
| Taxes, remuneration and social security | 45 | €14,171 | €18,383 | +€4,212 | +29.7% |
| Taxes | 450/3 | €9,415 | €14,941 | +€5,526 | +58.7% |
| Remuneration and social security | 454/9 | €4,756 | €3,442 | -€1,315 | -27.6% |
| Other amounts payable | 47/48 | €105,852 | €12,562 | -€93,290 | -88.1% |
| Remuneration, social security and pensions | 62 | €20,988 | €21,482 | +€494 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,445 | €14,260 | -€185 | -1.3% |
| Other operating charges | 640/8 | €55,493 | €186 | -€55,307 | -99.7% |
| Gross operating margin | 9900 | €225,837 | €334,589 | +€108,752 | +48.2% |
| Operating profit (loss) | 9901 | €134,911 | €298,661 | +€163,750 | +121% |
| Financial income | 75/76B | €1,313 | €225 | -€1,088 | -82.9% |
| Recurring financial income | 75 | €1,313 | €225 | -€1,088 | -82.9% |
| Financial charges | 65/66B | €1,490 | €1,075 | -€416 | -27.9% |
| Recurring financial charges | 65 | €1,490 | €1,075 | -€416 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €134,734 | €297,811 | +€163,077 | +121% |
| Income taxes | 67/77 | €29,853 | €70,441 | +€40,588 | +136% |
| Profit (loss) for the period | 9904 | €104,881 | €227,370 | +€122,489 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €104,881 | €227,370 | +€122,489 | +117% |
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 1 November 2026 via checked.be.