Hilde Fermon: 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.
Hilde Fermon
Largest movements
- Current investments +€137,000
new in 2025: €137,000
- Cash +€94,356
up €94,356 (+26.3%), from €359,046 to €453,402
mainly Net result for the year (+€203,154) and Receivables within one year (+€19,446)
- Receivables within one year -€19,446
down €19,446 (-99.8%), from €19,479 to €34
- Tangible fixed assets +€6,919
up €6,919 (+103%), from €6,741 to €13,660
- Profit (loss) carried forward +€203,154
up €203,154 (+119%), from €170,986 to €374,140
- Tax, wage and social debts +€19,075
up €19,075 (+18.9%), from €100,713 to €119,788
- Gross operating margin +€42,565
up €42,565 (+19.2%), from €221,982 to €264,546
- Taxes +€10,525
up €10,525 (+20.5%), from €51,418 to €61,943
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 | €387,377 | €606,302 | +€218,925 | +56.5% |
| Fixed assets | 21/28 | €6,741 | €13,660 | +€6,919 | +103% |
| Tangible fixed assets | 22/27 | €6,741 | €13,660 | +€6,919 | +103% |
| Furniture and vehicles | 24 | €6,741 | €13,660 | +€6,919 | +103% |
| Current assets | 29/58 | €380,636 | €592,642 | +€212,006 | +55.7% |
| Amounts receivable within one year | 40/41 | €19,479 | €34 | -€19,446 | -99.8% |
| Trade receivables | 40 | €19,479 | €34 | -€19,446 | -99.8% |
| Current investments | 50/53 | - | €137,000 | +€137,000 | |
| Cash at bank and in hand | 54/58 | €359,046 | €453,402 | +€94,356 | +26.3% |
| Deferred charges and accrued income | 490/1 | €2,111 | €2,207 | +€96 | +4.6% |
| Total equity and liabilities | 10/49 | €387,377 | €606,302 | +€218,925 | +56.5% |
| Equity | 10/15 | €274,767 | €477,921 | +€203,154 | +73.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €102,781 | €102,781 | = | 0.0% |
| Distributable reserves | 133 | €102,781 | €102,781 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,986 | €374,140 | +€203,154 | +119% |
| Amounts payable | 17/49 | €112,610 | €128,381 | +€15,771 | +14.0% |
| Amounts payable within one year | 42/48 | €109,860 | €125,631 | +€15,771 | +14.4% |
| Trade debts | 44 | €5,516 | €400 | -€5,116 | -92.8% |
| Suppliers | 440/4 | €5,516 | €400 | -€5,116 | -92.8% |
| Taxes, remuneration and social security | 45 | €100,713 | €119,788 | +€19,075 | +18.9% |
| Taxes | 450/3 | €100,713 | €119,788 | +€19,075 | +18.9% |
| Other amounts payable | 47/48 | €3,632 | €5,444 | +€1,812 | +49.9% |
| Accrued charges and deferred income | 492/3 | €2,750 | €2,750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €897 | €2,820 | +€1,923 | +214% |
| Other operating charges | 640/8 | €1,858 | €400 | -€1,459 | -78.5% |
| Gross operating margin | 9900 | €221,982 | €264,546 | +€42,565 | +19.2% |
| Operating profit (loss) | 9901 | €219,226 | €261,326 | +€42,100 | +19.2% |
| Financial income | 75/76B | €3,283 | €3,817 | +€534 | +16.3% |
| Recurring financial income | 75 | €3,283 | €3,817 | +€534 | +16.3% |
| Financial charges | 65/66B | €106 | €47 | -€59 | -55.6% |
| Recurring financial charges | 65 | €106 | €47 | -€59 | -55.6% |
| Profit (loss) for the period before taxes | 9903 | €222,404 | €265,097 | +€42,693 | +19.2% |
| Income taxes | 67/77 | €51,418 | €61,943 | +€10,525 | +20.5% |
| Profit (loss) for the period | 9904 | €170,986 | €203,154 | +€32,168 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €170,986 | €203,154 | +€32,168 | +18.8% |
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 15 October 2026 via checked.be.