DR. TOM BLOOTACKER: 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. TOM BLOOTACKER
Largest movements
- Receivables after one year +€101,850
up €101,850 (+69.0%), from €147,683 to €249,533
- Receivables within one year -€44,953
down €44,953 (-45.8%), from €98,091 to €53,138
of which Other amounts receivable: -€40,819
- Tangible fixed assets +€11,631
up €11,631 (+6.5%), from €178,463 to €190,094
of which Furniture and vehicles: +€10,000
- Cash -€5,930
down €5,930 (-9.0%), from €66,250 to €60,320
mainly Receivables after one year (-€101,850) and Debts after one year (-€28,336)
- Other debts +€46,747
up €46,747 (+1,636%), from €2,857 to €49,604
- Reserves +€46,500
up €46,500 (+31.2%), from €148,904 to €195,404
- Debts after one year -€28,336
down €28,336 (-12.9%), from €219,268 to €190,932
- Gross operating margin -€50,238
down €50,238 (-35.8%), from €140,221 to €89,982
- Taxes -€15,442
down €15,442 (-40.4%), from €38,183 to €22,742
- Depreciation -€2,786
down €2,786 (-23.5%), from €11,839 to €9,053
- Financial charges +€2,693
up €2,693 (+25.1%), from €10,708 to €13,401
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 | €492,107 | €555,299 | +€63,192 | +12.8% |
| Fixed assets | 21/28 | €178,463 | €190,094 | +€11,631 | +6.5% |
| Tangible fixed assets | 22/27 | €178,463 | €190,094 | +€11,631 | +6.5% |
| Land and buildings | 22 | €165,299 | €166,930 | +€1,631 | +1.0% |
| Furniture and vehicles | 24 | €13,164 | €23,164 | +€10,000 | +76.0% |
| Current assets | 29/58 | €313,644 | €365,205 | +€51,561 | +16.4% |
| Amounts receivable after more than one year | 29 | €147,683 | €249,533 | +€101,850 | +69.0% |
| Other amounts receivable | 291 | €147,683 | €249,533 | +€101,850 | +69.0% |
| Amounts receivable within one year | 40/41 | €98,091 | €53,138 | -€44,953 | -45.8% |
| Trade receivables | 40 | €57,271 | €53,138 | -€4,134 | -7.2% |
| Other amounts receivable | 41 | €40,819 | - | -€40,819 | |
| Cash at bank and in hand | 54/58 | €66,250 | €60,320 | -€5,930 | -9.0% |
| Deferred charges and accrued income | 490/1 | €1,620 | €2,214 | +€594 | +36.6% |
| Total equity and liabilities | 10/49 | €492,107 | €555,299 | +€63,192 | +12.8% |
| Equity | 10/15 | €192,840 | €239,342 | +€46,502 | +24.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €148,904 | €195,404 | +€46,500 | +31.2% |
| Distributable reserves | 133 | €148,904 | €195,404 | +€46,500 | +31.2% |
| Profit (loss) carried forward | 14 | €25,386 | €25,389 | +€2 | 0.0% |
| Amounts payable | 17/49 | €299,267 | €315,956 | +€16,690 | +5.6% |
| Amounts payable after more than one year | 17 | €219,268 | €190,932 | -€28,336 | -12.9% |
| Financial debts | 170/4 | €219,268 | €190,932 | -€28,336 | -12.9% |
| Amounts payable within one year | 42/48 | €79,877 | €125,024 | +€45,147 | +56.5% |
| Current portion of amounts payable after more than one year | 42 | €27,371 | €28,336 | +€965 | +3.5% |
| Trade debts | 44 | €9,643 | €11,693 | +€2,050 | +21.3% |
| Suppliers | 440/4 | €9,643 | €11,693 | +€2,050 | +21.3% |
| Taxes, remuneration and social security | 45 | €40,006 | €35,391 | -€4,614 | -11.5% |
| Taxes | 450/3 | €38,183 | €35,391 | -€2,792 | -7.3% |
| Remuneration and social security | 454/9 | €1,822 | - | -€1,822 | |
| Other amounts payable | 47/48 | €2,857 | €49,604 | +€46,747 | +1,636% |
| Accrued charges and deferred income | 492/3 | €122 | - | -€122 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,839 | €9,053 | -€2,786 | -23.5% |
| Other operating charges | 640/8 | €2,713 | €2,823 | +€110 | +4.1% |
| Gross operating margin | 9900 | €140,221 | €89,982 | -€50,238 | -35.8% |
| Operating profit (loss) | 9901 | €125,669 | €78,106 | -€47,562 | -37.8% |
| Financial income | 75/76B | €4,196 | €4,539 | +€343 | +8.2% |
| Recurring financial income | 75 | €4,196 | €4,539 | +€343 | +8.2% |
| Financial charges | 65/66B | €10,708 | €13,401 | +€2,693 | +25.1% |
| Recurring financial charges | 65 | €10,708 | €13,401 | +€2,693 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €119,156 | €69,244 | -€49,912 | -41.9% |
| Income taxes | 67/77 | €38,183 | €22,742 | -€15,442 | -40.4% |
| Profit (loss) for the period | 9904 | €80,973 | €46,502 | -€34,471 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,973 | €46,502 | -€34,471 | -42.6% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.