Greet D'HOE: 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.
Greet D'HOE
Largest movements
- Cash +€114,790
up €114,790 (+59.5%), from €192,978 to €307,768
mainly Net result for the year (+€115,553) and Receivables within one year (+€5,158)
- Receivables within one year -€5,158
down €5,158 (-70.9%), from €7,269 to €2,112
of which Other amounts receivable: -€5,308
- Reserves +€115,553
up €115,553 (+202%), from €57,302 to €172,855
- Current portion of long-term debt -€6,235
down €6,235 (-100%), from €6,235 to €0
- Gross operating margin +€87,486
up €87,486 (+109%), from €80,310 to €167,796
- Taxes +€28,344
up €28,344 (+134%), from €21,140 to €49,484
- Depreciation -€8,641
down €8,641 (-78.8%), from €10,963 to €2,322
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 | €210,695 | €318,184 | +€107,490 | +51.0% |
| Fixed assets | 21/28 | €7,987 | €5,665 | -€2,322 | -29.1% |
| Tangible fixed assets | 22/27 | €7,987 | €5,665 | -€2,322 | -29.1% |
| Furniture and vehicles | 24 | €7,987 | €5,665 | -€2,322 | -29.1% |
| Current assets | 29/58 | €202,708 | €312,520 | +€109,812 | +54.2% |
| Amounts receivable within one year | 40/41 | €7,269 | €2,112 | -€5,158 | -70.9% |
| Trade receivables | 40 | €0 | €150 | +€150 | |
| Other amounts receivable | 41 | €7,269 | €1,962 | -€5,308 | -73.0% |
| Cash at bank and in hand | 54/58 | €192,978 | €307,768 | +€114,790 | +59.5% |
| Deferred charges and accrued income | 490/1 | €2,460 | €2,639 | +€179 | +7.3% |
| Total equity and liabilities | 10/49 | €210,695 | €318,184 | +€107,490 | +51.0% |
| Equity | 10/15 | €177,721 | €292,440 | +€114,720 | +64.6% |
| Reserves | 13 | €57,302 | €172,855 | +€115,553 | +202% |
| Distributable reserves | 133 | €57,302 | €172,855 | +€115,553 | +202% |
| Profit (loss) carried forward | 14 | €120,419 | €119,586 | -€833 | -0.7% |
| Amounts payable | 17/49 | €32,974 | €25,744 | -€7,230 | -21.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €32,974 | €25,744 | -€7,230 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €6,235 | €0 | -€6,235 | -100% |
| Trade debts | 44 | €301 | €0 | -€301 | -100% |
| Suppliers | 440/4 | €301 | €0 | -€301 | -100% |
| Taxes, remuneration and social security | 45 | €26,438 | €24,686 | -€1,752 | -6.6% |
| Taxes | 450/3 | €26,438 | €24,686 | -€1,752 | -6.6% |
| Other amounts payable | 47/48 | - | €1,058 | +€1,058 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,963 | €2,322 | -€8,641 | -78.8% |
| Other operating charges | 640/8 | €986 | €1,116 | +€130 | +13.2% |
| Gross operating margin | 9900 | €80,310 | €167,796 | +€87,486 | +109% |
| Operating profit (loss) | 9901 | €68,361 | €164,358 | +€95,997 | +140% |
| Financial income | 75/76B | €352 | €703 | +€352 | +99.9% |
| Recurring financial income | 75 | €352 | €703 | +€352 | +99.9% |
| Financial charges | 65/66B | €120 | €25 | -€95 | -79.3% |
| Recurring financial charges | 65 | €120 | €25 | -€95 | -79.3% |
| Profit (loss) for the period before taxes | 9903 | €68,592 | €165,036 | +€96,444 | +141% |
| Income taxes | 67/77 | €21,140 | €49,484 | +€28,344 | +134% |
| Profit (loss) for the period | 9904 | €47,453 | €115,553 | +€68,100 | +144% |
| Profit (loss) for the period to be appropriated | 9905 | €47,453 | €115,553 | +€68,100 | +144% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.