Ewout De Geeter: 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.
Ewout De Geeter
Largest movements
- Cash +€13,684
up €13,684 (+219%), from €6,242 to €19,926
mainly Depreciation (+€10,957) and Net result for the year (+€10,157)
- Tangible fixed assets -€9,722
down €9,722 (-42.9%), from €22,670 to €12,948
of which Furniture and vehicles: -€10,000
- Deferred charges and accrued income -€472
down €472 (-88.7%), from €532 to €60
- Profit (loss) carried forward +€10,157
up €10,157 (+169%), from €6,023 to €16,180
- Other debts -€7,873
down €7,873 (-38.1%), from €20,647 to €12,774
- Tax, wage and social debts +€1,027
up €1,027 (+42.4%), from €2,421 to €3,448
- Gross operating margin +€6,340
up €6,340 (+30.5%), from €20,770 to €27,110
- Taxes +€1,027
up €1,027 (+42.4%), from €2,421 to €3,448
- Depreciation +€853
up €853 (+8.4%), from €10,104 to €10,957
- Staff costs +€317
up €317 (+17.0%), from €1,867 to €2,184
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 | €29,444 | €32,934 | +€3,490 | +11.9% |
| Fixed assets | 21/28 | €22,670 | €12,948 | -€9,722 | -42.9% |
| Tangible fixed assets | 22/27 | €22,670 | €12,948 | -€9,722 | -42.9% |
| Plant, machinery and equipment | 23 | €1,848 | €2,126 | +€278 | +15.0% |
| Furniture and vehicles | 24 | €20,822 | €10,822 | -€10,000 | -48.0% |
| Current assets | 29/58 | €6,774 | €19,986 | +€13,212 | +195% |
| Cash at bank and in hand | 54/58 | €6,242 | €19,926 | +€13,684 | +219% |
| Deferred charges and accrued income | 490/1 | €532 | €60 | -€472 | -88.7% |
| Total equity and liabilities | 10/49 | €29,444 | €32,934 | +€3,490 | +11.9% |
| Equity | 10/15 | €6,123 | €16,280 | +€10,157 | +166% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,023 | €16,180 | +€10,157 | +169% |
| Amounts payable | 17/49 | €23,321 | €16,654 | -€6,667 | -28.6% |
| Amounts payable within one year | 42/48 | €23,321 | €16,654 | -€6,667 | -28.6% |
| Trade debts | 44 | €253 | €432 | +€179 | +70.8% |
| Suppliers | 440/4 | €253 | €432 | +€179 | +70.8% |
| Taxes, remuneration and social security | 45 | €2,421 | €3,448 | +€1,027 | +42.4% |
| Taxes | 450/3 | €2,421 | €3,448 | +€1,027 | +42.4% |
| Other amounts payable | 47/48 | €20,647 | €12,774 | -€7,873 | -38.1% |
| Remuneration, social security and pensions | 62 | €1,867 | €2,184 | +€317 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,104 | €10,957 | +€853 | +8.4% |
| Other operating charges | 640/8 | €310 | €317 | +€7 | +2.3% |
| Gross operating margin | 9900 | €20,770 | €27,110 | +€6,340 | +30.5% |
| Operating profit (loss) | 9901 | €8,489 | €13,652 | +€5,163 | +60.8% |
| Financial charges | 65/66B | €45 | €47 | +€2 | +4.4% |
| Recurring financial charges | 65 | €45 | €47 | +€2 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €8,444 | €13,605 | +€5,161 | +61.1% |
| Income taxes | 67/77 | €2,421 | €3,448 | +€1,027 | +42.4% |
| Profit (loss) for the period | 9904 | €6,023 | €10,157 | +€4,134 | +68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,023 | €10,157 | +€4,134 | +68.6% |
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 19 October 2026 via checked.be.