Helder De Baere: 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.
Helder De Baere
Largest movements
- Tangible fixed assets -€10,263
down €10,263 (-25.1%), from €40,920 to €30,658
of which Leasing and similar rights: -€10,929
- Cash -€2,218
down €2,218 (-6.1%), from €36,243 to €34,025
mainly Other debts (-€14,127) and Tax, wage and social debts (-€12,746)
- Profit (loss) carried forward +€26,746
up €26,746 (+131%), from €20,456 to €47,202
- Other debts -€14,127
down €14,127 (-92.7%), from €15,236 to €1,109
- Tax, wage and social debts -€12,746
down €12,746 (-82.7%), from €15,410 to €2,664
- Debts after one year -€10,176
down €10,176 (-41.1%), from €24,767 to €14,591
- Trade debts -€1,386
down €1,386 (-25.8%), from €5,374 to €3,988
- Gross operating margin +€2,544
up €2,544 (+5.3%), from €48,031 to €50,575
- Depreciation +€680
up €680 (+5.7%), from €11,824 to €12,504
- Taxes +€658
up €658 (+8.7%), from €7,570 to €8,228
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 | €91,693 | €80,240 | -€11,453 | -12.5% |
| Fixed assets | 21/28 | €41,457 | €30,658 | -€10,800 | -26.1% |
| Tangible fixed assets | 22/27 | €40,920 | €30,658 | -€10,263 | -25.1% |
| Furniture and vehicles | 24 | €4,839 | €5,654 | +€814 | +16.8% |
| Leasing and similar rights | 25 | €34,788 | €23,859 | -€10,929 | -31.4% |
| Other tangible fixed assets | 26 | €1,293 | €1,145 | -€148 | -11.5% |
| Financial fixed assets | 28 | €537 | €0 | -€537 | -100% |
| Current assets | 29/58 | €50,236 | €49,582 | -€654 | -1.3% |
| Amounts receivable within one year | 40/41 | €11,866 | €12,705 | +€839 | +7.1% |
| Trade receivables | 40 | €11,866 | €12,705 | +€839 | +7.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €36,243 | €34,025 | -€2,218 | -6.1% |
| Deferred charges and accrued income | 490/1 | €2,126 | €2,852 | +€726 | +34.1% |
| Total equity and liabilities | 10/49 | €91,693 | €80,240 | -€11,453 | -12.5% |
| Equity | 10/15 | €20,956 | €47,702 | +€26,746 | +128% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,456 | €47,202 | +€26,746 | +131% |
| Amounts payable | 17/49 | €70,736 | €32,537 | -€38,199 | -54.0% |
| Amounts payable after more than one year | 17 | €24,767 | €14,591 | -€10,176 | -41.1% |
| Financial debts | 170/4 | €24,767 | €14,591 | -€10,176 | -41.1% |
| Amounts payable within one year | 42/48 | €45,792 | €17,938 | -€27,854 | -60.8% |
| Current portion of amounts payable after more than one year | 42 | €9,772 | €10,176 | +€404 | +4.1% |
| Trade debts | 44 | €5,374 | €3,988 | -€1,386 | -25.8% |
| Suppliers | 440/4 | €5,374 | €3,988 | -€1,386 | -25.8% |
| Taxes, remuneration and social security | 45 | €15,410 | €2,664 | -€12,746 | -82.7% |
| Taxes | 450/3 | €15,410 | €2,664 | -€12,746 | -82.7% |
| Other amounts payable | 47/48 | €15,236 | €1,109 | -€14,127 | -92.7% |
| Accrued charges and deferred income | 492/3 | €178 | €9 | -€169 | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,824 | €12,504 | +€680 | +5.7% |
| Other operating charges | 640/8 | €1,550 | €1,604 | +€54 | +3.5% |
| Gross operating margin | 9900 | €48,031 | €50,575 | +€2,544 | +5.3% |
| Operating profit (loss) | 9901 | €34,657 | €36,467 | +€1,811 | +5.2% |
| Financial income | 75/76B | €2 | €0 | -€2 | -98.6% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -98.6% |
| Financial charges | 65/66B | €1,921 | €1,494 | -€428 | -22.3% |
| Recurring financial charges | 65 | €1,921 | €1,494 | -€428 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €32,738 | €34,974 | +€2,236 | +6.8% |
| Income taxes | 67/77 | €7,570 | €8,228 | +€658 | +8.7% |
| Profit (loss) for the period | 9904 | €25,168 | €26,746 | +€1,578 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,168 | €26,746 | +€1,578 | +6.3% |
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 29 October 2026 via checked.be.