Evelien Merckx: 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.
Evelien Merckx
Largest movements
- Cash +€79,436
up €79,436 (+491%), from €16,195 to €95,631
mainly Net result for the year (+€61,850) and Tax, wage and social debts (+€16,493)
- Receivables within one year -€2,812
down €2,812 (-89.4%), from €3,147 to €335
- Tangible fixed assets +€1,664
new in 2025: €1,664
- Reserves +€61,699
new in 2025: €61,699
- Tax, wage and social debts +€16,493
up €16,493 (+426%), from €3,868 to €20,361
- Profit (loss) carried forward -€1,449
no longer reported in 2025 (was €1,449)
- Gross operating margin +€82,436
up €82,436 (+2,833%), from €2,910 to €85,346
- Taxes +€22,431
up €22,431 (+3,708%), from €605 to €23,036
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 | €21,312 | €98,813 | +€77,501 | +364% |
| Fixed assets | 21/28 | - | €1,664 | +€1,664 | |
| Tangible fixed assets | 22/27 | - | €1,664 | +€1,664 | |
| Furniture and vehicles | 24 | - | €1,664 | +€1,664 | |
| Current assets | 29/58 | €21,312 | €97,149 | +€75,837 | +356% |
| Amounts receivable within one year | 40/41 | €3,147 | €335 | -€2,812 | -89.4% |
| Trade receivables | 40 | €3,147 | €335 | -€2,812 | -89.4% |
| Cash at bank and in hand | 54/58 | €16,195 | €95,631 | +€79,436 | +491% |
| Deferred charges and accrued income | 490/1 | €1,971 | €1,183 | -€787 | -40.0% |
| Total equity and liabilities | 10/49 | €21,312 | €98,813 | +€77,501 | +364% |
| Equity | 10/15 | €16,449 | €76,699 | +€60,250 | +366% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | - | €61,699 | +€61,699 | |
| Distributable reserves | 133 | - | €61,699 | +€61,699 | |
| Profit (loss) carried forward | 14 | €1,449 | - | -€1,449 | |
| Amounts payable | 17/49 | €4,863 | €22,115 | +€17,252 | +355% |
| Amounts payable within one year | 42/48 | €4,863 | €22,115 | +€17,252 | +355% |
| Trade debts | 44 | €129 | €118 | -€10 | -8.0% |
| Suppliers | 440/4 | €129 | €118 | -€10 | -8.0% |
| Taxes, remuneration and social security | 45 | €3,868 | €20,361 | +€16,493 | +426% |
| Taxes | 450/3 | €3,868 | €20,361 | +€16,493 | +426% |
| Other amounts payable | 47/48 | €867 | €1,635 | +€769 | +88.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €434 | +€434 | |
| Other operating charges | 640/8 | €50 | - | -€50 | |
| Gross operating margin | 9900 | €2,910 | €85,346 | +€82,436 | +2,833% |
| Operating profit (loss) | 9901 | €2,860 | €84,912 | +€82,052 | +2,869% |
| Financial charges | 65/66B | €6 | €26 | +€20 | +350% |
| Recurring financial charges | 65 | €6 | €26 | +€20 | +350% |
| Profit (loss) for the period before taxes | 9903 | €2,854 | €84,885 | +€82,032 | +2,874% |
| Income taxes | 67/77 | €605 | €23,036 | +€22,431 | +3,708% |
| Profit (loss) for the period | 9904 | €2,249 | €61,850 | +€59,601 | +2,650% |
| Profit (loss) for the period to be appropriated | 9905 | €2,249 | €61,850 | +€59,601 | +2,650% |
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 31 October 2026 via checked.be.