Elke Beirinckx: 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.
Elke Beirinckx
Largest movements
- Cash +€18,275
up €18,275 (+220%), from €8,310 to €26,586
mainly Net result for the year (+€14,123) and Other debts (+€5,806)
- Receivables within one year -€4,297
down €4,297 (-27.5%), from €15,633 to €11,336
of which Trade receivables: -€5,320
- Tangible fixed assets +€3,924
up €3,924 (+113%), from €3,458 to €7,383
of which Furniture and vehicles: +€2,995
- Formation expenses -€841
down €841 (-61.2%), from €1,373 to €532
- Deferred charges and accrued income +€520
up €520 (+49.1%), from €1,060 to €1,580
- Profit (loss) carried forward +€14,123
up €14,123 (+337%), from €4,194 to €18,316
- Other debts +€5,806
up €5,806 (+61.0%), from €9,513 to €15,319
- Current portion of long-term debt +€2,521
new in 2025: €2,521
- Tax, wage and social debts -€2,471
down €2,471 (-30.2%), from €8,196 to €5,725
of which Remuneration and social security: -€2,028
- Trade debts -€2,397
down €2,397 (-48.8%), from €4,909 to €2,512
- Gross operating margin +€11,941
up €11,941 (+103%), from €11,599 to €23,540
- Taxes +€2,757
up €2,757 (+111%), from €2,476 to €5,233
- Other operating charges -€1,910
down €1,910 (-64.3%), from €2,971 to €1,061
- Depreciation +€1,208
up €1,208 (+72.1%), from €1,675 to €2,883
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 | €31,935 | €49,516 | +€17,581 | +55.1% |
| Formation expenses | 20 | €1,373 | €532 | -€841 | -61.2% |
| Fixed assets | 21/28 | €5,558 | €9,483 | +€3,924 | +70.6% |
| Tangible fixed assets | 22/27 | €3,458 | €7,383 | +€3,924 | +113% |
| Plant, machinery and equipment | 23 | - | €929 | +€929 | |
| Furniture and vehicles | 24 | €3,458 | €6,453 | +€2,995 | +86.6% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €25,003 | €39,501 | +€14,498 | +58.0% |
| Amounts receivable within one year | 40/41 | €15,633 | €11,336 | -€4,297 | -27.5% |
| Trade receivables | 40 | €15,000 | €9,680 | -€5,320 | -35.5% |
| Other amounts receivable | 41 | €633 | €1,656 | +€1,023 | +162% |
| Cash at bank and in hand | 54/58 | €8,310 | €26,586 | +€18,275 | +220% |
| Deferred charges and accrued income | 490/1 | €1,060 | €1,580 | +€520 | +49.1% |
| Total equity and liabilities | 10/49 | €31,935 | €49,516 | +€17,581 | +55.1% |
| Equity | 10/15 | €9,317 | €23,439 | +€14,123 | +152% |
| Contributions | 10/11 | €4,200 | €4,200 | = | 0.0% |
| Reserves | 13 | €923 | €923 | = | 0.0% |
| Distributable reserves | 133 | €923 | €923 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,194 | €18,316 | +€14,123 | +337% |
| Amounts payable | 17/49 | €22,618 | €26,076 | +€3,459 | +15.3% |
| Amounts payable within one year | 42/48 | €22,618 | €26,076 | +€3,459 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | - | €2,521 | +€2,521 | |
| Trade debts | 44 | €4,909 | €2,512 | -€2,397 | -48.8% |
| Suppliers | 440/4 | €4,909 | €2,512 | -€2,397 | -48.8% |
| Taxes, remuneration and social security | 45 | €8,196 | €5,725 | -€2,471 | -30.2% |
| Taxes | 450/3 | €4,084 | €3,641 | -€443 | -10.8% |
| Remuneration and social security | 454/9 | €4,112 | €2,084 | -€2,028 | -49.3% |
| Other amounts payable | 47/48 | €9,513 | €15,319 | +€5,806 | +61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,675 | €2,883 | +€1,208 | +72.1% |
| Other operating charges | 640/8 | €2,971 | €1,061 | -€1,910 | -64.3% |
| Gross operating margin | 9900 | €11,599 | €23,540 | +€11,941 | +103% |
| Operating profit (loss) | 9901 | €6,953 | €19,596 | +€12,643 | +182% |
| Financial charges | 65/66B | €283 | €241 | -€42 | -15.0% |
| Recurring financial charges | 65 | €283 | €241 | -€42 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €6,670 | €19,356 | +€12,686 | +190% |
| Income taxes | 67/77 | €2,476 | €5,233 | +€2,757 | +111% |
| Profit (loss) for the period | 9904 | €4,194 | €14,123 | +€9,929 | +237% |
| Profit (loss) for the period to be appropriated | 9905 | €4,194 | €14,123 | +€9,929 | +237% |
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 25 October 2026 via checked.be.