Dr. Sofie Buyse: what changed
Two fiscal 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. Sofie Buyse
Largest movements
- Receivables within one year +€39,190
up €39,190 (+294.5%), from €13,309 to €52,500
of which Other amounts receivable: +€39,322
- Intangible fixed assets -€16,600
down €16,600 (-12.2%), from €135,567 to €118,967
- Tangible fixed assets -€4,865
down €4,865 (-7.1%), from €68,513 to €63,647
of which Land and buildings: -€3,849
- Cash -€3,342
down €3,342 (-25.3%), from €13,195 to €9,852
mainly Receivables within one year (-€39,190) and Debts after one year (-€15,716)
- Reserves +€34,613
up €34,613 (+50.8%), from €68,112 to €102,725
- Debts after one year -€15,716
down €15,716 (-14.4%), from €108,955 to €93,239
of which Financial debts: -€8,790
- Trade debts -€8,199
down €8,199 (-85.6%), from €9,577 to €1,378
- Financial charges -€2,634
down €2,634 (-43.5%), from €6,054 to €3,420
- Other operating charges -€1,071
down €1,071 (-84.7%), from €1,264 to €193
- Taxes +€961
up €961 (+10.5%), from €9,124 to €10,085
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.
Cash bridge derived
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 | €235,264 | €248,184 | +€12,920 | +5.5% |
| Formation expenses | 20 | €4,681 | €3,218 | -€1,463 | -31.3% |
| Fixed assets | 21/28 | €204,079 | €182,614 | -€21,465 | -10.5% |
| Intangible fixed assets | 21 | €135,567 | €118,967 | -€16,600 | -12.2% |
| Tangible fixed assets | 22/27 | €68,513 | €63,647 | -€4,865 | -7.1% |
| Land and buildings | 22 | €65,379 | €61,529 | -€3,849 | -5.9% |
| Plant, machinery and equipment | 23 | €3,134 | €2,118 | -€1,016 | -32.4% |
| Current assets | 29/58 | €26,504 | €62,352 | +€35,848 | +135.3% |
| Amounts receivable within one year | 40/41 | €13,309 | €52,500 | +€39,190 | +294.5% |
| Trade receivables | 40 | €5,343 | €5,211 | -€132 | -2.5% |
| Other amounts receivable | 41 | €7,966 | €47,288 | +€39,322 | +493.6% |
| Cash at bank and in hand | 54/58 | €13,195 | €9,852 | -€3,342 | -25.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €235,264 | €248,184 | +€12,920 | +5.5% |
| Equity | 10/15 | €71,612 | €106,225 | +€34,613 | +48.3% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €68,112 | €102,725 | +€34,613 | +50.8% |
| Distributable reserves | 133 | €68,112 | €102,725 | +€34,613 | +50.8% |
| Amounts payable | 17/49 | €163,652 | €141,959 | -€21,693 | -13.3% |
| Amounts payable after more than one year | 17 | €108,955 | €93,239 | -€15,716 | -14.4% |
| Financial debts | 170/4 | €73,168 | €64,379 | -€8,790 | -12.0% |
| Other amounts payable | 178/9 | €35,786 | €28,860 | -€6,926 | -19.4% |
| Amounts payable within one year | 42/48 | €52,678 | €46,701 | -€5,977 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €8,454 | €8,790 | +€336 | +4.0% |
| Trade debts | 44 | €9,577 | €1,378 | -€8,199 | -85.6% |
| Suppliers | 440/4 | €9,577 | €1,378 | -€8,199 | -85.6% |
| Taxes, remuneration and social security | 45 | €22,277 | €22,323 | +€45 | +0.2% |
| Taxes | 450/3 | €22,277 | €19,209 | -€3,069 | -13.8% |
| Remuneration and social security | 454/9 | - | €3,114 | +€3,114 | |
| Other amounts payable | 47/48 | €12,370 | €14,211 | +€1,841 | +14.9% |
| Accrued charges and deferred income | 492/3 | €2,020 | €2,020 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,441 | €22,928 | +€487 | +2.2% |
| Other operating charges | 640/8 | €1,264 | €193 | -€1,071 | -84.7% |
| Gross operating margin | 9900 | €71,125 | €71,007 | -€118 | -0.2% |
| Operating profit (loss) | 9901 | €47,420 | €47,886 | +€466 | +1.0% |
| Financial income | 75/76B | €0 | €233 | +€232 | +105604.5% |
| Recurring financial income | 75 | €0 | €233 | +€232 | +105604.5% |
| Financial charges | 65/66B | €6,054 | €3,420 | -€2,634 | -43.5% |
| Recurring financial charges | 65 | €6,054 | €3,420 | -€2,634 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €41,366 | €44,698 | +€3,332 | +8.1% |
| Income taxes | 67/77 | €9,124 | €10,085 | +€961 | +10.5% |
| Profit (loss) for the period | 9904 | €32,242 | €34,613 | +€2,371 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,242 | €34,613 | +€2,371 | +7.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.