Dr. Sofie Van Cauter: 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 Van Cauter
Largest movements
- Receivables within one year +€37,210
up €37,210 (+16.9%), from €219,889 to €257,098
of which Other amounts receivable: +€23,153
- Other debts +€382,481
up €382,481 (+2139.1%), from €17,881 to €400,361
- Reserves -€279,437
down €279,437 (-100.0%), from €279,437 to €0
- Debts after one year -€47,075
down €47,075 (-19.3%), from €244,063 to €196,988
- Tax, wage and social debts -€19,284
down €19,284 (-66.2%), from €29,118 to €9,834
of which Taxes: -€19,387
- Gross operating margin -€36,760
down €36,760 (-8.4%), from €437,437 to €400,677
- Taxes -€11,292
down €11,292 (-12.9%), from €87,395 to €76,104
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 | €619,407 | €656,504 | +€37,097 | +6.0% |
| Fixed assets | 21/28 | €363,370 | €365,928 | +€2,558 | +0.7% |
| Tangible fixed assets | 22/27 | €363,370 | €365,928 | +€2,558 | +0.7% |
| Land and buildings | 22 | €328,000 | €311,626 | -€16,374 | -5.0% |
| Plant, machinery and equipment | 23 | €10,474 | €17,335 | +€6,860 | +65.5% |
| Furniture and vehicles | 24 | €19,495 | €18,396 | -€1,100 | -5.6% |
| Other tangible fixed assets | 26 | €5,400 | €18,572 | +€13,172 | +243.9% |
| Current assets | 29/58 | €256,037 | €290,576 | +€34,539 | +13.5% |
| Amounts receivable within one year | 40/41 | €219,889 | €257,098 | +€37,210 | +16.9% |
| Trade receivables | 40 | €219,566 | €233,623 | +€14,056 | +6.4% |
| Other amounts receivable | 41 | €322 | €23,476 | +€23,153 | +7185.6% |
| Current investments | 50/53 | €24,390 | €24,390 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,507 | €8,823 | -€2,684 | -23.3% |
| Deferred charges and accrued income | 490/1 | €253 | €266 | +€13 | +5.2% |
| Total equity and liabilities | 10/49 | €619,407 | €656,504 | +€37,097 | +6.0% |
| Equity | 10/15 | €280,437 | €1,000 | -€279,437 | -99.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €279,437 | €0 | -€279,437 | -100.0% |
| Distributable reserves | 133 | €279,437 | €0 | -€279,437 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €338,970 | €655,504 | +€316,534 | +93.4% |
| Amounts payable after more than one year | 17 | €244,063 | €196,988 | -€47,075 | -19.3% |
| Financial debts | 170/4 | €244,063 | €196,988 | -€47,075 | -19.3% |
| Amounts payable within one year | 42/48 | €94,907 | €458,516 | +€363,609 | +383.1% |
| Current portion of amounts payable after more than one year | 42 | €46,438 | €47,075 | +€637 | +1.4% |
| Trade debts | 44 | €1,470 | €1,245 | -€224 | -15.3% |
| Suppliers | 440/4 | €1,470 | €1,245 | -€224 | -15.3% |
| Taxes, remuneration and social security | 45 | €29,118 | €9,834 | -€19,284 | -66.2% |
| Taxes | 450/3 | €23,066 | €3,679 | -€19,387 | -84.0% |
| Remuneration and social security | 454/9 | €6,052 | €6,155 | +€103 | +1.7% |
| Other amounts payable | 47/48 | €17,881 | €400,361 | +€382,481 | +2139.1% |
| Remuneration, social security and pensions | 62 | €41,571 | €45,313 | +€3,741 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,005 | €24,344 | +€3,339 | +15.9% |
| Other operating charges | 640/8 | €3,089 | €4,276 | +€1,187 | +38.4% |
| Gross operating margin | 9900 | €437,437 | €400,677 | -€36,760 | -8.4% |
| Operating profit (loss) | 9901 | €371,772 | €326,744 | -€45,028 | -12.1% |
| Financial income | 75/76B | €3 | €1,937 | +€1,934 | +64053.0% |
| Recurring financial income | 75 | €3 | €1,937 | +€1,934 | +64053.0% |
| Financial charges | 65/66B | €4,942 | €5,290 | +€347 | +7.0% |
| Recurring financial charges | 65 | €4,942 | €5,290 | +€347 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €366,833 | €323,392 | -€43,441 | -11.8% |
| Income taxes | 67/77 | €87,395 | €76,104 | -€11,292 | -12.9% |
| Profit (loss) for the period | 9904 | €279,437 | €247,288 | -€32,149 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €279,437 | €247,288 | -€32,149 | -11.5% |
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 2 October 2026 via checked.be.