ERIC DE BELDER: 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.
ERIC DE BELDER
Largest movements
- Receivables after one year -€48,000
down €48,000 (-30.4%), from €157,972 to €109,972
- Cash +€26,458
up €26,458 (+25.9%), from €102,001 to €128,459
mainly Net result for the year (+€58,083) and Receivables after one year (+€48,000)
- Debts after one year -€37,359
down €37,359 (-100.0%), from €37,359 to €0
- Reserves +€8,083
up €8,083 (+4.9%), from €163,633 to €171,716
- Tax, wage and social debts +€3,654
up €3,654 (+53.4%), from €6,838 to €10,491
- Gross operating margin +€51,768
up €51,768 (+616.4%), from €8,399 to €60,166
- Taxes +€4,932
up €4,932 (+429.6%), from €1,148 to €6,080
- Financial charges -€4,663
down €4,663 (-89.8%), from €5,196 to €532
- Financial income -€2,066
down €2,066 (-23.2%), from €8,896 to €6,830
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.
Cash bridge derived
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 | €281,083 | €254,408 | -€26,675 | -9.5% |
| Fixed assets | 21/28 | €12,427 | €9,640 | -€2,787 | -22.4% |
| Tangible fixed assets | 22/27 | €12,427 | €9,640 | -€2,787 | -22.4% |
| Land and buildings | 22 | €10,712 | €6,106 | -€4,605 | -43.0% |
| Furniture and vehicles | 24 | €1,715 | €3,534 | +€1,819 | +106.0% |
| Current assets | 29/58 | €268,656 | €244,768 | -€23,888 | -8.9% |
| Amounts receivable after more than one year | 29 | €157,972 | €109,972 | -€48,000 | -30.4% |
| Trade receivables | 290 | €157,972 | €109,972 | -€48,000 | -30.4% |
| Amounts receivable within one year | 40/41 | €7 | €342 | +€335 | +5033.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €7 | €342 | +€335 | +5033.2% |
| Current investments | 50/53 | €1,982 | €1,982 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €102,001 | €128,459 | +€26,458 | +25.9% |
| Deferred charges and accrued income | 490/1 | €6,695 | €4,014 | -€2,682 | -40.1% |
| Total equity and liabilities | 10/49 | €281,083 | €254,408 | -€26,675 | -9.5% |
| Equity | 10/15 | €183,633 | €191,716 | +€8,083 | +4.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €163,633 | €171,716 | +€8,083 | +4.9% |
| Distributable reserves | 133 | €163,633 | €171,716 | +€8,083 | +4.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €97,450 | €62,692 | -€34,758 | -35.7% |
| Amounts payable after more than one year | 17 | €37,359 | €0 | -€37,359 | -100.0% |
| Other amounts payable | 178/9 | €37,359 | €0 | -€37,359 | -100.0% |
| Amounts payable within one year | 42/48 | €60,091 | €62,692 | +€2,601 | +4.3% |
| Trade debts | 44 | €5,754 | €4,656 | -€1,098 | -19.1% |
| Suppliers | 440/4 | €5,754 | €4,656 | -€1,098 | -19.1% |
| Taxes, remuneration and social security | 45 | €6,838 | €10,491 | +€3,654 | +53.4% |
| Taxes | 450/3 | €6,838 | €10,491 | +€3,654 | +53.4% |
| Other amounts payable | 47/48 | €47,500 | €47,545 | +€45 | +0.1% |
| Non-recurring operating income | 76A | €0 | €14,288 | +€14,288 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,454 | €1,099 | -€356 | -24.4% |
| Other operating charges | 640/8 | €975 | €1,203 | +€227 | +23.3% |
| Gross operating margin | 9900 | €8,399 | €60,166 | +€51,768 | +616.4% |
| Operating profit (loss) | 9901 | €5,969 | €57,865 | +€51,896 | +869.4% |
| Financial income | 75/76B | €8,896 | €6,830 | -€2,066 | -23.2% |
| Recurring financial income | 75 | €8,896 | €6,830 | -€2,066 | -23.2% |
| Financial charges | 65/66B | €5,196 | €532 | -€4,663 | -89.8% |
| Recurring financial charges | 65 | €5,196 | €532 | -€4,663 | -89.8% |
| Profit (loss) for the period before taxes | 9903 | €9,669 | €64,163 | +€54,493 | +563.6% |
| Income taxes | 67/77 | €1,148 | €6,080 | +€4,932 | +429.6% |
| Profit (loss) for the period | 9904 | €8,521 | €58,083 | +€49,562 | +581.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,521 | €58,083 | +€49,562 | +581.6% |
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 9 October 2026 via checked.be.