Grégory Tassenoy: 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.
Grégory Tassenoy
Largest movements
- Cash +€64,871
up €64,871 (+238%), from €27,204 to €92,074
mainly Other debts (+€37,964) and Depreciation (+€27,967)
- Tangible fixed assets -€27,967
down €27,967 (-52.6%), from €53,191 to €25,224
of which Furniture and vehicles: -€27,054
- Receivables within one year -€10,888
down €10,888 (-35.8%), from €30,374 to €19,486
of which Other amounts receivable: -€9,507
- Deferred charges and accrued income -€3,241
down €3,241 (-47.9%), from €6,771 to €3,530
- Other debts +€37,964
up €37,964 (+231%), from €16,407 to €54,371
- Debts after one year -€10,000
down €10,000 (-33.3%), from €30,000 to €20,000
- Profit (loss) carried forward -€8,539
down €8,539 (-24.6%), from €34,715 to €26,176
- Current portion of long-term debt +€7,667
up €7,667 (+62.2%), from €12,333 to €20,000
- Tax, wage and social debts -€5,181
down €5,181 (-68.4%), from €7,577 to €2,396
- Gross operating margin +€89,175
up €89,175, from -€28,912 to €60,264
- Depreciation +€21,256
up €21,256 (+317%), from €6,711 to €27,967
- Taxes +€2,209
up €2,209 (+483%), from €457 to €2,667
- Financial charges +€1,437
up €1,437 (+452%), from €318 to €1,755
- Other operating charges +€720
up €720 (+104%), from €695 to €1,414
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 | €117,539 | €140,314 | +€22,775 | +19.4% |
| Fixed assets | 21/28 | €53,191 | €25,224 | -€27,967 | -52.6% |
| Tangible fixed assets | 22/27 | €53,191 | €25,224 | -€27,967 | -52.6% |
| Plant, machinery and equipment | 23 | €608 | €0 | -€608 | -100% |
| Furniture and vehicles | 24 | €52,122 | €25,068 | -€27,054 | -51.9% |
| Other tangible fixed assets | 26 | €461 | €156 | -€305 | -66.2% |
| Current assets | 29/58 | €64,349 | €115,090 | +€50,742 | +78.9% |
| Amounts receivable within one year | 40/41 | €30,374 | €19,486 | -€10,888 | -35.8% |
| Trade receivables | 40 | €16,491 | €15,110 | -€1,381 | -8.4% |
| Other amounts receivable | 41 | €13,883 | €4,376 | -€9,507 | -68.5% |
| Cash at bank and in hand | 54/58 | €27,204 | €92,074 | +€64,871 | +238% |
| Deferred charges and accrued income | 490/1 | €6,771 | €3,530 | -€3,241 | -47.9% |
| Total equity and liabilities | 10/49 | €117,539 | €140,314 | +€22,775 | +19.4% |
| Equity | 10/15 | €50,038 | €41,499 | -€8,539 | -17.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €323 | €323 | = | 0.0% |
| Distributable reserves | 133 | €323 | €323 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,715 | €26,176 | -€8,539 | -24.6% |
| Amounts payable | 17/49 | €67,501 | €98,815 | +€31,314 | +46.4% |
| Amounts payable after more than one year | 17 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Financial debts | 170/4 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Amounts payable within one year | 42/48 | €37,435 | €77,165 | +€39,730 | +106% |
| Current portion of amounts payable after more than one year | 42 | €12,333 | €20,000 | +€7,667 | +62.2% |
| Trade debts | 44 | €1,118 | €398 | -€720 | -64.4% |
| Suppliers | 440/4 | €1,118 | €398 | -€720 | -64.4% |
| Taxes, remuneration and social security | 45 | €7,577 | €2,396 | -€5,181 | -68.4% |
| Taxes | 450/3 | €7,577 | €2,396 | -€5,181 | -68.4% |
| Other amounts payable | 47/48 | €16,407 | €54,371 | +€37,964 | +231% |
| Accrued charges and deferred income | 492/3 | €66 | €1,649 | +€1,584 | +2,409% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,711 | €27,967 | +€21,256 | +317% |
| Other operating charges | 640/8 | €695 | €1,414 | +€720 | +104% |
| Gross operating margin | 9900 | -€28,912 | €60,264 | +€89,175 | |
| Operating profit (loss) | 9901 | -€36,317 | €30,883 | +€67,200 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €318 | €1,755 | +€1,437 | +452% |
| Recurring financial charges | 65 | €318 | €1,755 | +€1,437 | +452% |
| Profit (loss) for the period before taxes | 9903 | -€36,635 | €29,128 | +€65,762 | |
| Income taxes | 67/77 | €457 | €2,667 | +€2,209 | +483% |
| Profit (loss) for the period | 9904 | -€37,092 | €26,461 | +€63,553 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,092 | €26,461 | +€63,553 |
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 1 November 2026 via checked.be.