Geert VANDERSTUKKEN: 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.
Geert VANDERSTUKKEN
Largest movements
- Cash +€272,873
up €272,873 (+544%), from €50,179 to €323,051
mainly Investment in fixed assets (net) (+€150,000) and Receivables within one year (+€99,504)
- Financial fixed assets -€150,000
down €150,000 (-29.1%), from €515,250 to €365,250
- Receivables within one year -€99,504
down €99,504 (-67.0%), from €148,569 to €49,065
of which Other amounts receivable: -€99,359
- Reserves +€22,104
up €22,104 (+3.2%), from €683,740 to €705,844
of which Distributable reserves: +€22,104
- Financial income +€13,454
up €13,454 (+136%), from €9,875 to €23,329
- Gross operating margin +€11,116
up €11,116, from -€9,615 to €1,501
- Taxes +€1,569
up €1,569 (+290%), from €541 to €2,110
- Other operating charges -€619
down €619 (-54.4%), from €1,139 to €520
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 | €714,523 | €737,942 | +€23,419 | +3.3% |
| Fixed assets | 21/28 | €515,250 | €365,250 | -€150,000 | -29.1% |
| Financial fixed assets | 28 | €515,250 | €365,250 | -€150,000 | -29.1% |
| Current assets | 29/58 | €199,273 | €372,692 | +€173,419 | +87.0% |
| Amounts receivable within one year | 40/41 | €148,569 | €49,065 | -€99,504 | -67.0% |
| Trade receivables | 40 | €48,569 | €48,424 | -€145 | -0.3% |
| Other amounts receivable | 41 | €100,000 | €641 | -€99,359 | -99.4% |
| Cash at bank and in hand | 54/58 | €50,179 | €323,051 | +€272,873 | +544% |
| Deferred charges and accrued income | 490/1 | €525 | €575 | +€50 | +9.5% |
| Total equity and liabilities | 10/49 | €714,523 | €737,942 | +€23,419 | +3.3% |
| Equity | 10/15 | €702,340 | €724,444 | +€22,104 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €683,740 | €705,844 | +€22,104 | +3.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €683,740 | €705,844 | +€22,104 | +3.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €12,183 | €13,498 | +€1,315 | +10.8% |
| Amounts payable within one year | 42/48 | €12,183 | €13,498 | +€1,315 | +10.8% |
| Trade debts | 44 | €1,451 | €30 | -€1,421 | -97.9% |
| Suppliers | 440/4 | €1,451 | €30 | -€1,421 | -97.9% |
| Taxes, remuneration and social security | 45 | €6,629 | €8,235 | +€1,606 | +24.2% |
| Taxes | 450/3 | €6,629 | €8,235 | +€1,606 | +24.2% |
| Other amounts payable | 47/48 | €4,103 | €5,233 | +€1,130 | +27.5% |
| Other operating charges | 640/8 | €1,139 | €520 | -€619 | -54.4% |
| Gross operating margin | 9900 | -€9,615 | €1,501 | +€11,116 | |
| Operating profit (loss) | 9901 | -€10,754 | €982 | +€11,735 | |
| Financial income | 75/76B | €9,875 | €23,329 | +€13,454 | +136% |
| Recurring financial income | 75 | €9,875 | €23,329 | +€13,454 | +136% |
| Financial charges | 65/66B | €83 | €97 | +€14 | +17.3% |
| Recurring financial charges | 65 | €83 | €97 | +€14 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€961 | €24,214 | +€25,175 | |
| Income taxes | 67/77 | €541 | €2,110 | +€1,569 | +290% |
| Profit (loss) for the period | 9904 | -€1,502 | €22,104 | +€23,606 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,502 | €22,104 | +€23,606 |
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 27 October 2026 via checked.be.