IEMKE DEWULF: 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.
IEMKE DEWULF
Largest movements
- Cash +€57,578
up €57,578 (+51.4%), from €111,995 to €169,574
mainly Net result for the year (+€69,816) and Receivables within one year (+€3,410)
- Tangible fixed assets +€4,506
up €4,506 (+291%), from €1,551 to €6,056
of which Other tangible fixed assets: +€3,786
- Receivables within one year -€3,410
down €3,410 (-19.5%), from €17,515 to €14,105
- Reserves +€70,000
up €70,000 (+77.8%), from €90,000 to €160,000
- Tax, wage and social debts -€10,938
down €10,938 (-34.1%), from €32,061 to €21,122
- Gross operating margin -€29,732
down €29,732 (-24.6%), from €120,869 to €91,136
- Taxes -€7,134
down €7,134 (-27.4%), from €26,000 to €18,866
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 | €131,137 | €189,811 | +€58,674 | +44.7% |
| Fixed assets | 21/28 | €1,626 | €6,132 | +€4,506 | +277% |
| Tangible fixed assets | 22/27 | €1,551 | €6,056 | +€4,506 | +291% |
| Furniture and vehicles | 24 | €934 | €1,653 | +€719 | +77.0% |
| Other tangible fixed assets | 26 | €616 | €4,403 | +€3,786 | +614% |
| Financial fixed assets | 28 | €76 | €76 | = | 0.0% |
| Current assets | 29/58 | €129,510 | €183,679 | +€54,169 | +41.8% |
| Amounts receivable within one year | 40/41 | €17,515 | €14,105 | -€3,410 | -19.5% |
| Trade receivables | 40 | €17,515 | €14,105 | -€3,410 | -19.5% |
| Cash at bank and in hand | 54/58 | €111,995 | €169,574 | +€57,578 | +51.4% |
| Total equity and liabilities | 10/49 | €131,137 | €189,811 | +€58,674 | +44.7% |
| Equity | 10/15 | €97,932 | €167,748 | +€69,816 | +71.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €90,000 | €160,000 | +€70,000 | +77.8% |
| Distributable reserves | 133 | €90,000 | €160,000 | +€70,000 | +77.8% |
| Profit (loss) carried forward | 14 | €3,932 | €3,748 | -€184 | -4.7% |
| Amounts payable | 17/49 | €33,205 | €22,063 | -€11,142 | -33.6% |
| Amounts payable within one year | 42/48 | €33,205 | €22,063 | -€11,142 | -33.6% |
| Trade debts | 44 | €1,145 | €941 | -€204 | -17.8% |
| Suppliers | 440/4 | €1,145 | €941 | -€204 | -17.8% |
| Taxes, remuneration and social security | 45 | €32,061 | €21,122 | -€10,938 | -34.1% |
| Taxes | 450/3 | €32,061 | €21,122 | -€10,938 | -34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178 | €808 | +€630 | +354% |
| Other operating charges | 640/8 | €467 | €1,231 | +€764 | +164% |
| Gross operating margin | 9900 | €120,869 | €91,136 | -€29,732 | -24.6% |
| Operating profit (loss) | 9901 | €120,223 | €89,097 | -€31,127 | -25.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €292 | €415 | +€123 | +42.1% |
| Recurring financial charges | 65 | €292 | €415 | +€123 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | €119,932 | €88,682 | -€31,250 | -26.1% |
| Income taxes | 67/77 | €26,000 | €18,866 | -€7,134 | -27.4% |
| Profit (loss) for the period | 9904 | €93,932 | €69,816 | -€24,115 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €93,932 | €69,816 | -€24,115 | -25.7% |
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 27 October 2026 via checked.be.