Elise Haezebaert: what changed
Elise Haezebaert
Largest movements
- Tangible fixed assets -€9,713
down €9,713 (-29.9%), from €32,441 to €22,727
of which Furniture and vehicles: -€8,371
- Cash -€6,136
down €6,136 (-12.8%), from €47,795 to €41,660
mainly Contributions, distributions and other (-€45,373) and Debts after one year (-€8,963)
- Receivables within one year +€3,959
up €3,959 (+55.8%), from €7,089 to €11,048
of which Trade receivables: +€4,498
- Reserves -€43,339
down €43,339 (-95.5%), from €45,373 to €2,034
- Other debts +€39,581
up €39,581 (+262%), from €15,116 to €54,697
- Debts after one year -€8,963
down €8,963 (-92.2%), from €9,725 to €762
- Tax, wage and social debts +€3,706
up €3,706 (+80.2%), from €4,623 to €8,329
of which Taxes: +€5,506
- Accrued charges and deferred income -€2,575
no longer reported in 2025 (was €2,575)
- Gross operating margin -€26,708
down €26,708 (-63.3%), from €42,226 to €15,518
- Taxes -€5,723
down €5,723 (-80.3%), from €7,123 to €1,400
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 | €89,017 | €77,201 | -€11,816 | -13.3% |
| Fixed assets | 21/28 | €32,441 | €22,727 | -€9,713 | -29.9% |
| Tangible fixed assets | 22/27 | €32,441 | €22,727 | -€9,713 | -29.9% |
| Plant, machinery and equipment | 23 | €3,511 | €2,169 | -€1,342 | -38.2% |
| Furniture and vehicles | 24 | €28,929 | €20,558 | -€8,371 | -28.9% |
| Current assets | 29/58 | €56,576 | €54,474 | -€2,103 | -3.7% |
| Amounts receivable within one year | 40/41 | €7,089 | €11,048 | +€3,959 | +55.8% |
| Trade receivables | 40 | €6,550 | €11,048 | +€4,498 | +68.7% |
| Other amounts receivable | 41 | €539 | - | -€539 | |
| Cash at bank and in hand | 54/58 | €47,795 | €41,660 | -€6,136 | -12.8% |
| Deferred charges and accrued income | 490/1 | €1,692 | €1,766 | +€74 | +4.4% |
| Total equity and liabilities | 10/49 | €89,017 | €77,201 | -€11,816 | -13.3% |
| Equity | 10/15 | €45,473 | €2,134 | -€43,339 | -95.3% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €45,373 | €2,034 | -€43,339 | -95.5% |
| Distributable reserves | 133 | €45,373 | €2,034 | -€43,339 | -95.5% |
| Amounts payable | 17/49 | €43,544 | €75,067 | +€31,522 | +72.4% |
| Amounts payable after more than one year | 17 | €9,725 | €762 | -€8,963 | -92.2% |
| Financial debts | 170/4 | €9,725 | €762 | -€8,963 | -92.2% |
| Amounts payable within one year | 42/48 | €31,244 | €74,305 | +€43,061 | +138% |
| Current portion of amounts payable after more than one year | 42 | €8,642 | €8,963 | +€321 | +3.7% |
| Trade debts | 44 | €2,863 | €2,315 | -€547 | -19.1% |
| Suppliers | 440/4 | €2,863 | €2,315 | -€547 | -19.1% |
| Taxes, remuneration and social security | 45 | €4,623 | €8,329 | +€3,706 | +80.2% |
| Taxes | 450/3 | €2,823 | €8,329 | +€5,506 | +195% |
| Remuneration and social security | 454/9 | €1,800 | - | -€1,800 | |
| Other amounts payable | 47/48 | €15,116 | €54,697 | +€39,581 | +262% |
| Accrued charges and deferred income | 492/3 | €2,575 | - | -€2,575 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,932 | €11,103 | +€171 | +1.6% |
| Other operating charges | 640/8 | €627 | €362 | -€266 | -42.3% |
| Gross operating margin | 9900 | €42,226 | €15,518 | -€26,708 | -63.3% |
| Operating profit (loss) | 9901 | €30,666 | €4,053 | -€26,613 | -86.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +450% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +450% |
| Financial charges | 65/66B | €896 | €618 | -€278 | -31.0% |
| Recurring financial charges | 65 | €896 | €618 | -€278 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €29,770 | €3,435 | -€26,336 | -88.5% |
| Income taxes | 67/77 | €7,123 | €1,400 | -€5,723 | -80.3% |
| Profit (loss) for the period | 9904 | €22,647 | €2,034 | -€20,613 | -91.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,647 | €2,034 | -€20,613 | -91.0% |
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 4 November 2026 via checked.be.