DR. SOFIE DE BLAUWE: 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 DE BLAUWE
Largest movements
- Cash -€183,312
down €183,312 (-42.0%), from €436,334 to €253,021
mainly Contributions, distributions and other (-€262,602) and Other debts (-€124,351)
- Tangible fixed assets -€17,665
down €17,665 (-41.4%), from €42,632 to €24,968
of which Furniture and vehicles: -€13,557
- Receivables within one year -€9,359
down €9,359 (-84.4%), from €11,094 to €1,735
of which Other amounts receivable: -€8,041
- Other debts -€124,351
down €124,351 (-32.6%), from €381,545 to €257,194
- Profit (loss) carried forward -€69,922
down €69,922 (-100.0%), from €69,922 to €0
- Reserves -€12,321
down €12,321 (-100.0%), from €12,321 to €0
of which Tax-exempt reserves: -€10,461
- Trade debts -€4,953
down €4,953 (-90.2%), from €5,492 to €540
- Gross operating margin +€50,456
up €50,456 (+24.1%), from €209,622 to €260,077
- Taxes +€12,745
up €12,745 (+28.0%), from €45,520 to €58,265
- Depreciation +€6,301
up €6,301 (+55.4%), from €11,364 to €17,665
- Financial charges +€3,143
up €3,143 (+4364.7%), from €72 to €3,215
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 | €491,802 | €281,639 | -€210,163 | -42.7% |
| Fixed assets | 21/28 | €42,632 | €24,968 | -€17,665 | -41.4% |
| Tangible fixed assets | 22/27 | €42,632 | €24,968 | -€17,665 | -41.4% |
| Plant, machinery and equipment | 23 | €8,851 | €4,743 | -€4,108 | -46.4% |
| Furniture and vehicles | 24 | €33,781 | €20,224 | -€13,557 | -40.1% |
| Current assets | 29/58 | €449,170 | €256,671 | -€192,499 | -42.9% |
| Amounts receivable within one year | 40/41 | €11,094 | €1,735 | -€9,359 | -84.4% |
| Trade receivables | 40 | €1,318 | €0 | -€1,318 | -100.0% |
| Other amounts receivable | 41 | €9,776 | €1,735 | -€8,041 | -82.3% |
| Cash at bank and in hand | 54/58 | €436,334 | €253,021 | -€183,312 | -42.0% |
| Deferred charges and accrued income | 490/1 | €1,743 | €1,915 | +€172 | +9.9% |
| Total equity and liabilities | 10/49 | €491,802 | €281,639 | -€210,163 | -42.7% |
| Equity | 10/15 | €100,843 | €18,600 | -€82,243 | -81.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,321 | €0 | -€12,321 | -100.0% |
| Tax-exempt reserves | 132 | €10,461 | €0 | -€10,461 | -100.0% |
| Distributable reserves | 133 | €1,860 | €0 | -€1,860 | -100.0% |
| Profit (loss) carried forward | 14 | €69,922 | €0 | -€69,922 | -100.0% |
| Amounts payable | 17/49 | €390,959 | €263,039 | -€127,921 | -32.7% |
| Amounts payable within one year | 42/48 | €389,482 | €259,987 | -€129,495 | -33.2% |
| Trade debts | 44 | €5,492 | €540 | -€4,953 | -90.2% |
| Suppliers | 440/4 | €5,492 | €540 | -€4,953 | -90.2% |
| Taxes, remuneration and social security | 45 | €2,444 | €2,254 | -€191 | -7.8% |
| Taxes | 450/3 | €2,444 | €2,254 | -€191 | -7.8% |
| Other amounts payable | 47/48 | €381,545 | €257,194 | -€124,351 | -32.6% |
| Accrued charges and deferred income | 492/3 | €1,477 | €3,051 | +€1,574 | +106.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,364 | €17,665 | +€6,301 | +55.4% |
| Other operating charges | 640/8 | €503 | €574 | +€71 | +14.1% |
| Gross operating margin | 9900 | €209,622 | €260,077 | +€50,456 | +24.1% |
| Operating profit (loss) | 9901 | €197,755 | €241,838 | +€44,084 | +22.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €72 | €3,215 | +€3,143 | +4364.7% |
| Recurring financial charges | 65 | €72 | €3,215 | +€3,143 | +4364.7% |
| Profit (loss) for the period before taxes | 9903 | €197,683 | €238,624 | +€40,941 | +20.7% |
| Income taxes | 67/77 | €45,520 | €58,265 | +€12,745 | +28.0% |
| Profit (loss) for the period | 9904 | €152,162 | €180,359 | +€28,196 | +18.5% |
| Transfer from tax-exempt reserves | 789 | - | €10,461 | +€10,461 | |
| Profit (loss) for the period to be appropriated | 9905 | €152,162 | €190,819 | +€38,657 | +25.4% |
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 1 October 2026 via checked.be.