DR. WESLEY BISTOEN: 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. WESLEY BISTOEN
Largest movements
- Current investments -€15,000
down €15,000 (-15.8%), from €95,000 to €80,000
- Cash -€11,867
down €11,867 (-28.0%), from €42,325 to €30,458
mainly Other debts (-€71,407) and Receivables within one year (-€2,629)
- Tangible fixed assets -€4,122
down €4,122 (-25.8%), from €15,991 to €11,870
- Receivables within one year +€2,629
up €2,629 (+24.8%), from €10,606 to €13,236
of which Trade receivables: +€1,331
- Other debts -€71,407
down €71,407 (-69.6%), from €102,649 to €31,241
- Profit (loss) carried forward +€45,128
new in 2025: €45,128
- Tax, wage and social debts -€2,293
down €2,293 (-24.3%), from €9,452 to €7,159
- Gross operating margin -€51,190
down €51,190 (-45.5%), from €112,570 to €61,380
- Taxes -€10,846
down €10,846 (-48.1%), from €22,532 to €11,686
- Financial income +€2,323
up €2,323 (+242%), from €960 to €3,283
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 | €163,922 | €135,563 | -€28,359 | -17.3% |
| Fixed assets | 21/28 | €15,991 | €11,870 | -€4,122 | -25.8% |
| Tangible fixed assets | 22/27 | €15,991 | €11,870 | -€4,122 | -25.8% |
| Plant, machinery and equipment | 23 | €7,473 | €5,547 | -€1,926 | -25.8% |
| Furniture and vehicles | 24 | €4,351 | €2,887 | -€1,464 | -33.6% |
| Other tangible fixed assets | 26 | €4,168 | €3,436 | -€732 | -17.6% |
| Current assets | 29/58 | €147,931 | €123,693 | -€24,238 | -16.4% |
| Amounts receivable within one year | 40/41 | €10,606 | €13,236 | +€2,629 | +24.8% |
| Trade receivables | 40 | €10,606 | €11,937 | +€1,331 | +12.5% |
| Other amounts receivable | 41 | - | €1,298 | +€1,298 | |
| Current investments | 50/53 | €95,000 | €80,000 | -€15,000 | -15.8% |
| Cash at bank and in hand | 54/58 | €42,325 | €30,458 | -€11,867 | -28.0% |
| Total equity and liabilities | 10/49 | €163,922 | €135,563 | -€28,359 | -17.3% |
| Equity | 10/15 | €51,277 | €96,406 | +€45,128 | +88.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,677 | €32,677 | = | 0.0% |
| Distributable reserves | 133 | €32,677 | €32,677 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €45,128 | +€45,128 | |
| Amounts payable | 17/49 | €112,645 | €39,157 | -€73,488 | -65.2% |
| Amounts payable within one year | 42/48 | €112,645 | €39,157 | -€73,488 | -65.2% |
| Trade debts | 44 | €545 | €757 | +€212 | +38.9% |
| Suppliers | 440/4 | €545 | €757 | +€212 | +38.9% |
| Taxes, remuneration and social security | 45 | €9,452 | €7,159 | -€2,293 | -24.3% |
| Taxes | 450/3 | €9,452 | €7,159 | -€2,293 | -24.3% |
| Other amounts payable | 47/48 | €102,649 | €31,241 | -€71,407 | -69.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,122 | €4,122 | = | 0.0% |
| Other operating charges | 640/8 | €825 | €739 | -€85 | -10.3% |
| Gross operating margin | 9900 | €112,570 | €61,380 | -€51,190 | -45.5% |
| Operating profit (loss) | 9901 | €107,624 | €56,519 | -€51,105 | -47.5% |
| Financial income | 75/76B | €960 | €3,283 | +€2,323 | +242% |
| Recurring financial income | 75 | €960 | €3,283 | +€2,323 | +242% |
| Financial charges | 65/66B | €1,873 | €2,987 | +€1,114 | +59.5% |
| Recurring financial charges | 65 | €1,873 | €2,987 | +€1,114 | +59.5% |
| Profit (loss) for the period before taxes | 9903 | €106,710 | €56,814 | -€49,896 | -46.8% |
| Income taxes | 67/77 | €22,532 | €11,686 | -€10,846 | -48.1% |
| Profit (loss) for the period | 9904 | €84,178 | €45,128 | -€39,050 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,178 | €45,128 | -€39,050 | -46.4% |
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 29 October 2026 via checked.be.