GREGORY HAMEEUW: 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.
GREGORY HAMEEUW
Largest movements
- Cash +€223,974
up €223,974 (+386%), from €57,951 to €281,925
mainly Other debts (+€221,000) and Net result for the year (+€185,169)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets +€28,845
up €28,845 (+991%), from €2,911 to €31,756
- Other debts +€221,000
new in 2025: €221,000
- Reserves -€74,831
down €74,831 (-89.9%), from €83,206 to €8,375
- Tax, wage and social debts +€7,237
up €7,237 (+11.2%), from €64,335 to €71,572
- Gross operating margin +€73,197
up €73,197 (+42.1%), from €173,924 to €247,121
- Taxes +€14,906
up €14,906 (+37.2%), from €40,120 to €55,026
- Depreciation +€7,771
up €7,771 (+790%), from €984 to €8,755
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 | €163,709 | €316,159 | +€152,450 | +93.1% |
| Fixed assets | 21/28 | €2,911 | €31,756 | +€28,845 | +991% |
| Tangible fixed assets | 22/27 | €2,911 | €31,756 | +€28,845 | +991% |
| Furniture and vehicles | 24 | €2,911 | €31,756 | +€28,845 | +991% |
| Current assets | 29/58 | €160,798 | €284,403 | +€123,605 | +76.9% |
| Amounts receivable within one year | 40/41 | €1,920 | €2,478 | +€558 | +29.1% |
| Trade receivables | 40 | €1,215 | - | -€1,215 | |
| Other amounts receivable | 41 | €705 | €2,478 | +€1,773 | +251% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €57,951 | €281,925 | +€223,974 | +386% |
| Deferred charges and accrued income | 490/1 | €927 | - | -€927 | |
| Total equity and liabilities | 10/49 | €163,709 | €316,159 | +€152,450 | +93.1% |
| Equity | 10/15 | €98,206 | €23,375 | -€74,831 | -76.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €83,206 | €8,375 | -€74,831 | -89.9% |
| Distributable reserves | 133 | €83,206 | €8,375 | -€74,831 | -89.9% |
| Amounts payable | 17/49 | €65,503 | €292,784 | +€227,281 | +347% |
| Amounts payable within one year | 42/48 | €65,503 | €292,784 | +€227,281 | +347% |
| Trade debts | 44 | €1,168 | €212 | -€956 | -81.8% |
| Suppliers | 440/4 | €1,168 | €212 | -€956 | -81.8% |
| Taxes, remuneration and social security | 45 | €64,335 | €71,572 | +€7,237 | +11.2% |
| Taxes | 450/3 | €64,335 | €71,572 | +€7,237 | +11.2% |
| Other amounts payable | 47/48 | - | €221,000 | +€221,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €984 | €8,755 | +€7,771 | +790% |
| Other operating charges | 640/8 | €1,529 | €1,370 | -€159 | -10.4% |
| Gross operating margin | 9900 | €173,924 | €247,121 | +€73,197 | +42.1% |
| Operating profit (loss) | 9901 | €171,411 | €236,996 | +€65,585 | +38.3% |
| Financial income | 75/76B | €2,208 | €3,288 | +€1,080 | +48.9% |
| Recurring financial income | 75 | €2,208 | €2,973 | +€765 | +34.6% |
| Non-recurring financial income | 76B | - | €315 | +€315 | |
| Financial charges | 65/66B | €84 | €89 | +€5 | +6.0% |
| Recurring financial charges | 65 | €84 | €89 | +€5 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €173,535 | €240,195 | +€66,660 | +38.4% |
| Income taxes | 67/77 | €40,120 | €55,026 | +€14,906 | +37.2% |
| Profit (loss) for the period | 9904 | €133,415 | €185,169 | +€51,754 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €133,415 | €185,169 | +€51,754 | +38.8% |
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 29 October 2026 via checked.be.