DR. THIJS LIESBETH: what changed
DR. THIJS LIESBETH
Largest movements
- Cash +€149,008
up €149,008 (+63.1%), from €236,112 to €385,120
mainly Debts after one year (+€233,000) and Net result for the year (+€201,163)
- Deferred charges and accrued income -€12,208
down €12,208 (-10.4%), from €117,387 to €105,178
- Debts after one year +€233,000
new in 2025: €233,000
- Other debts -€53,273
down €53,273 (-74.1%), from €71,862 to €18,590
- Tax, wage and social debts -€35,899
down €35,899 (-92.3%), from €38,899 to €3,000
of which Taxes: -€38,899
- Reserves -€8,837
down €8,837 (-3.9%), from €223,987 to €215,150
- Accrued charges and deferred income +€7,454
up €7,454 (+352%), from €2,118 to €9,572
- Gross operating margin -€12,382
down €12,382 (-4.3%), from €285,703 to €273,321
- Financial charges +€6,606
up €6,606 (+335%), from €1,970 to €8,576
- Taxes -€5,021
down €5,021 (-7.4%), from €67,548 to €62,526
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €353,549 | €496,589 | +€143,040 | +40.5% |
| Fixed assets | 21/28 | €50 | €3,817 | +€3,767 | +7,534% |
| Tangible fixed assets | 22/27 | - | €3,767 | +€3,767 | |
| Land and buildings | 22 | - | €2,512 | +€2,512 | |
| Furniture and vehicles | 24 | - | €1,255 | +€1,255 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €353,499 | €492,772 | +€139,273 | +39.4% |
| Amounts receivable within one year | 40/41 | - | €2,474 | +€2,474 | |
| Other amounts receivable | 41 | - | €2,474 | +€2,474 | |
| Cash at bank and in hand | 54/58 | €236,112 | €385,120 | +€149,008 | +63.1% |
| Deferred charges and accrued income | 490/1 | €117,387 | €105,178 | -€12,208 | -10.4% |
| Total equity and liabilities | 10/49 | €353,549 | €496,589 | +€143,040 | +40.5% |
| Equity | 10/15 | €233,987 | €225,150 | -€8,837 | -3.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €223,987 | €215,150 | -€8,837 | -3.9% |
| Distributable reserves | 133 | €223,987 | €215,150 | -€8,837 | -3.9% |
| Amounts payable | 17/49 | €119,562 | €271,439 | +€151,877 | +127% |
| Amounts payable after more than one year | 17 | - | €233,000 | +€233,000 | |
| Other amounts payable | 178/9 | - | €233,000 | +€233,000 | |
| Amounts payable within one year | 42/48 | €117,445 | €28,867 | -€88,578 | -75.4% |
| Trade debts | 44 | €6,684 | €7,278 | +€594 | +8.9% |
| Suppliers | 440/4 | €6,684 | €7,278 | +€594 | +8.9% |
| Taxes, remuneration and social security | 45 | €38,899 | €3,000 | -€35,899 | -92.3% |
| Taxes | 450/3 | €38,899 | - | -€38,899 | |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €71,862 | €18,590 | -€53,273 | -74.1% |
| Accrued charges and deferred income | 492/3 | €2,118 | €9,572 | +€7,454 | +352% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €72 | +€72 | |
| Other operating charges | 640/8 | €992 | €983 | -€8 | -0.8% |
| Gross operating margin | 9900 | €285,703 | €273,321 | -€12,382 | -4.3% |
| Operating profit (loss) | 9901 | €284,711 | €272,265 | -€12,446 | -4.4% |
| Financial charges | 65/66B | €1,970 | €8,576 | +€6,606 | +335% |
| Recurring financial charges | 65 | €1,970 | €8,576 | +€6,606 | +335% |
| Profit (loss) for the period before taxes | 9903 | €282,742 | €263,690 | -€19,052 | -6.7% |
| Income taxes | 67/77 | €67,548 | €62,526 | -€5,021 | -7.4% |
| Profit (loss) for the period | 9904 | €215,194 | €201,163 | -€14,031 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €215,194 | €201,163 | -€14,031 | -6.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.