Elke Vereecke: 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 Vereecke
Largest movements
- Cash -€14,659
down €14,659 (-40.0%), from €36,639 to €21,980
mainly Debts after one year (-€30,000) and Contributions, distributions and other (-€12,071)
- Tangible fixed assets -€9,019
down €9,019 (-32.9%), from €27,396 to €18,377
- Receivables within one year +€2,125
new in 2025: €2,125
- Debts after one year -€30,000
down €30,000 (-100%), from €30,000 to €0
- Tax, wage and social debts +€3,769
up €3,769 (+117%), from €3,231 to €7,000
of which Remuneration and social security: +€2,000
- Other debts +€2,871
up €2,871 (+11.5%), from €24,954 to €27,825
- Trade debts +€2,162
up €2,162 (+56.1%), from €3,853 to €6,014
- Accrued charges and deferred income -€847
down €847 (-44.2%), from €1,916 to €1,068
- Gross operating margin +€9,944
up €9,944 (+56.4%), from €17,625 to €27,569
- Staff costs +€2,273
up €2,273 (+1,286%), from €177 to €2,450
- Taxes +€1,644
up €1,644 (+119%), from €1,381 to €3,025
- Depreciation -€310
down €310 (-3.3%), from €9,330 to €9,019
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 | €66,234 | €44,158 | -€22,077 | -33.3% |
| Fixed assets | 21/28 | €27,396 | €18,377 | -€9,019 | -32.9% |
| Tangible fixed assets | 22/27 | €27,396 | €18,377 | -€9,019 | -32.9% |
| Land and buildings | 22 | €18,957 | €14,531 | -€4,426 | -23.3% |
| Plant, machinery and equipment | 23 | €5,032 | €1,454 | -€3,578 | -71.1% |
| Furniture and vehicles | 24 | €3,408 | €2,392 | -€1,015 | -29.8% |
| Current assets | 29/58 | €38,838 | €25,781 | -€13,057 | -33.6% |
| Amounts receivable within one year | 40/41 | - | €2,125 | +€2,125 | |
| Other amounts receivable | 41 | - | €2,125 | +€2,125 | |
| Cash at bank and in hand | 54/58 | €36,639 | €21,980 | -€14,659 | -40.0% |
| Deferred charges and accrued income | 490/1 | €2,199 | €1,676 | -€523 | -23.8% |
| Total equity and liabilities | 10/49 | €66,234 | €44,158 | -€22,077 | -33.3% |
| Equity | 10/15 | €2,280 | €2,250 | -€30 | -1.3% |
| Contributions | 10/11 | €2,250 | €2,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30 | €0 | -€30 | -100% |
| Amounts payable | 17/49 | €63,954 | €41,908 | -€22,046 | -34.5% |
| Amounts payable after more than one year | 17 | €30,000 | €0 | -€30,000 | -100% |
| Financial debts | 170/4 | €30,000 | €0 | -€30,000 | -100% |
| Amounts payable within one year | 42/48 | €32,038 | €40,839 | +€8,801 | +27.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,853 | €6,014 | +€2,162 | +56.1% |
| Suppliers | 440/4 | €3,853 | €6,014 | +€2,162 | +56.1% |
| Taxes, remuneration and social security | 45 | €3,231 | €7,000 | +€3,769 | +117% |
| Taxes | 450/3 | €1,231 | €3,000 | +€1,769 | +144% |
| Remuneration and social security | 454/9 | €2,000 | €4,000 | +€2,000 | +100% |
| Other amounts payable | 47/48 | €24,954 | €27,825 | +€2,871 | +11.5% |
| Accrued charges and deferred income | 492/3 | €1,916 | €1,068 | -€847 | -44.2% |
| Remuneration, social security and pensions | 62 | €177 | €2,450 | +€2,273 | +1,286% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,330 | €9,019 | -€310 | -3.3% |
| Other operating charges | 640/8 | €525 | €531 | +€7 | +1.2% |
| Gross operating margin | 9900 | €17,625 | €27,569 | +€9,944 | +56.4% |
| Operating profit (loss) | 9901 | €7,593 | €15,568 | +€7,975 | +105% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €734 | €503 | -€230 | -31.4% |
| Recurring financial charges | 65 | €734 | €503 | -€230 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €6,860 | €15,065 | +€8,206 | +120% |
| Income taxes | 67/77 | €1,381 | €3,025 | +€1,644 | +119% |
| Profit (loss) for the period | 9904 | €5,479 | €12,040 | +€6,561 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €5,479 | €12,040 | +€6,561 | +120% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.