Hadewijch Neirinck: 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.
Hadewijch Neirinck
Largest movements
- Deferred charges and accrued income +€14,418
up €14,418 (+835%), from €1,727 to €16,145
- Tangible fixed assets +€8,734
up €8,734 (+243%), from €3,600 to €12,334
of which Land and buildings: +€8,516
- Receivables within one year -€7,217
down €7,217 (-17.9%), from €40,414 to €33,196
of which Trade receivables: -€24,799
- Cash +€3,267
up €3,267 (+4.8%), from €68,426 to €71,693
mainly Net result for the year (+€16,249) and Receivables within one year (+€7,217)
- Reserves +€15,416
up €15,416 (+15.8%), from €97,440 to €112,856
- Tax, wage and social debts +€3,570
up €3,570 (+28.9%), from €12,355 to €15,926
- Gross operating margin -€105,436
down €105,436 (-82.4%), from €127,954 to €22,517
- Taxes -€22,575
down €22,575 (-82.5%), from €27,355 to €4,780
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 | €114,167 | €133,891 | +€19,724 | +17.3% |
| Fixed assets | 21/28 | €3,600 | €12,334 | +€8,734 | +243% |
| Tangible fixed assets | 22/27 | €3,600 | €12,334 | +€8,734 | +243% |
| Land and buildings | 22 | - | €8,516 | +€8,516 | |
| Plant, machinery and equipment | 23 | - | €1,272 | +€1,272 | |
| Furniture and vehicles | 24 | €3,600 | €2,546 | -€1,054 | -29.3% |
| Current assets | 29/58 | €110,567 | €121,557 | +€10,990 | +9.9% |
| Stocks and contracts in progress | 3 | - | €522 | +€522 | |
| Stocks | 30/36 | - | €522 | +€522 | |
| Amounts receivable within one year | 40/41 | €40,414 | €33,196 | -€7,217 | -17.9% |
| Trade receivables | 40 | €38,351 | €13,552 | -€24,799 | -64.7% |
| Other amounts receivable | 41 | €2,063 | €19,644 | +€17,582 | +852% |
| Cash at bank and in hand | 54/58 | €68,426 | €71,693 | +€3,267 | +4.8% |
| Deferred charges and accrued income | 490/1 | €1,727 | €16,145 | +€14,418 | +835% |
| Total equity and liabilities | 10/49 | €114,167 | €133,891 | +€19,724 | +17.3% |
| Equity | 10/15 | €100,440 | €115,856 | +€15,416 | +15.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €97,440 | €112,856 | +€15,416 | +15.8% |
| Distributable reserves | 133 | €97,440 | €112,856 | +€15,416 | +15.8% |
| Amounts payable | 17/49 | €13,727 | €18,035 | +€4,309 | +31.4% |
| Amounts payable within one year | 42/48 | €13,727 | €18,035 | +€4,309 | +31.4% |
| Trade debts | 44 | €512 | €1,527 | +€1,014 | +198% |
| Suppliers | 440/4 | €512 | €1,527 | +€1,014 | +198% |
| Taxes, remuneration and social security | 45 | €12,355 | €15,926 | +€3,570 | +28.9% |
| Taxes | 450/3 | €12,355 | €15,926 | +€3,570 | +28.9% |
| Other amounts payable | 47/48 | €859 | €583 | -€276 | -32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,668 | €1,377 | -€292 | -17.5% |
| Other operating charges | 640/8 | €667 | €329 | -€338 | -50.7% |
| Gross operating margin | 9900 | €127,954 | €22,517 | -€105,436 | -82.4% |
| Operating profit (loss) | 9901 | €125,619 | €20,812 | -€104,806 | -83.4% |
| Financial income | 75/76B | €79 | €287 | +€208 | +262% |
| Recurring financial income | 75 | €79 | €287 | +€208 | +262% |
| Financial charges | 65/66B | €44 | €71 | +€27 | +62.1% |
| Recurring financial charges | 65 | €44 | €71 | +€27 | +62.1% |
| Profit (loss) for the period before taxes | 9903 | €125,655 | €21,029 | -€104,626 | -83.3% |
| Income taxes | 67/77 | €27,355 | €4,780 | -€22,575 | -82.5% |
| Profit (loss) for the period | 9904 | €98,299 | €16,249 | -€82,051 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €98,299 | €16,249 | -€82,051 | -83.5% |
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 26 October 2026 via checked.be.