Dr. Trui Dewaele: 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. Trui Dewaele
Largest movements
- Tangible fixed assets +€20,649
new in 2025: €20,649
- Cash +€19,531
up €19,531 (+539%), from €3,624 to €23,155
mainly Net result for the year (+€34,371) and Receivables within one year (+€5,409)
- Receivables within one year -€5,409
down €5,409 (-9.2%), from €59,033 to €53,625
- Deferred charges and accrued income +€4,301
up €4,301 (+349%), from €1,234 to €5,535
- Reserves +€34,371
up €34,371 (+54.7%), from €62,892 to €97,263
- Trade debts +€2,505
new in 2025: €2,505
- Tax, wage and social debts +€2,197
new in 2025: €2,197
- Gross operating margin +€12,440
up €12,440 (+36.8%), from €33,827 to €46,268
- Depreciation +€4,341
new in 2025: €4,341
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 | €63,892 | €102,965 | +€39,073 | +61.2% |
| Fixed assets | 21/28 | - | €20,649 | +€20,649 | |
| Tangible fixed assets | 22/27 | - | €20,649 | +€20,649 | |
| Furniture and vehicles | 24 | - | €20,649 | +€20,649 | |
| Current assets | 29/58 | €63,892 | €82,316 | +€18,424 | +28.8% |
| Amounts receivable within one year | 40/41 | €59,033 | €53,625 | -€5,409 | -9.2% |
| Other amounts receivable | 41 | €59,033 | €53,625 | -€5,409 | -9.2% |
| Cash at bank and in hand | 54/58 | €3,624 | €23,155 | +€19,531 | +539% |
| Deferred charges and accrued income | 490/1 | €1,234 | €5,535 | +€4,301 | +349% |
| Total equity and liabilities | 10/49 | €63,892 | €102,965 | +€39,073 | +61.2% |
| Equity | 10/15 | €63,892 | €98,263 | +€34,371 | +53.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €62,892 | €97,263 | +€34,371 | +54.7% |
| Distributable reserves | 133 | €62,892 | €97,263 | +€34,371 | +54.7% |
| Amounts payable | 17/49 | - | €4,702 | +€4,702 | |
| Amounts payable within one year | 42/48 | - | €4,702 | +€4,702 | |
| Trade debts | 44 | - | €2,505 | +€2,505 | |
| Suppliers | 440/4 | - | €2,505 | +€2,505 | |
| Taxes, remuneration and social security | 45 | - | €2,197 | +€2,197 | |
| Taxes | 450/3 | - | €2,197 | +€2,197 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,341 | +€4,341 | |
| Other operating charges | 640/8 | €315 | €545 | +€230 | +72.9% |
| Gross operating margin | 9900 | €33,827 | €46,268 | +€12,440 | +36.8% |
| Operating profit (loss) | 9901 | €33,512 | €41,382 | +€7,870 | +23.5% |
| Financial income | 75/76B | €2,677 | €2,748 | +€71 | +2.7% |
| Recurring financial income | 75 | €2,677 | €2,748 | +€71 | +2.7% |
| Financial charges | 65/66B | €56 | €63 | +€7 | +11.6% |
| Recurring financial charges | 65 | €56 | €63 | +€7 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €36,133 | €44,068 | +€7,935 | +22.0% |
| Income taxes | 67/77 | €10,140 | €9,697 | -€443 | -4.4% |
| Profit (loss) for the period | 9904 | €25,993 | €34,371 | +€8,378 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €25,993 | €34,371 | +€8,378 | +32.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.