Imke Brusselmans: 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.
Imke Brusselmans
Largest movements
- Intangible fixed assets -€34,259
down €34,259 (-30.7%), from €111,436 to €77,177
- Cash -€1,624
down €1,624 (-27.7%), from €5,853 to €4,229
mainly Debts after one year (-€26,333) and Other debts (-€9,392)
- Debts after one year -€26,333
down €26,333 (-38.2%), from €68,962 to €42,630
- Other debts -€9,392
down €9,392 (-11.2%), from €83,737 to €74,345
- Trade debts -€4,070
down €4,070 (-18.1%), from €22,526 to €18,456
- Profit (loss) carried forward +€3,012
up €3,012 (+3.5%), from -€85,179 to -€82,167
- Gross operating margin +€16,686
up €16,686 (+67.9%), from €24,579 to €41,264
- Financial charges -€508
down €508 (-23.5%), from €2,158 to €1,650
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 | €124,022 | €87,022 | -€37,001 | -29.8% |
| Fixed assets | 21/28 | €117,570 | €82,292 | -€35,279 | -30.0% |
| Intangible fixed assets | 21 | €111,436 | €77,177 | -€34,259 | -30.7% |
| Tangible fixed assets | 22/27 | €6,134 | €5,114 | -€1,019 | -16.6% |
| Land and buildings | 22 | €2,672 | €2,245 | -€427 | -16.0% |
| Plant, machinery and equipment | 23 | €3,462 | €2,870 | -€592 | -17.1% |
| Current assets | 29/58 | €6,452 | €4,730 | -€1,722 | -26.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €5,853 | €4,229 | -€1,624 | -27.7% |
| Deferred charges and accrued income | 490/1 | €599 | €501 | -€98 | -16.4% |
| Total equity and liabilities | 10/49 | €124,022 | €87,022 | -€37,001 | -29.8% |
| Equity | 10/15 | -€80,179 | -€77,167 | +€3,012 | +3.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,179 | -€82,167 | +€3,012 | +3.5% |
| Amounts payable | 17/49 | €204,201 | €164,188 | -€40,013 | -19.6% |
| Amounts payable after more than one year | 17 | €68,962 | €42,630 | -€26,333 | -38.2% |
| Financial debts | 170/4 | €68,962 | €42,630 | -€26,333 | -38.2% |
| Amounts payable within one year | 42/48 | €135,239 | €121,308 | -€13,931 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €28,021 | €28,507 | +€486 | +1.7% |
| Trade debts | 44 | €22,526 | €18,456 | -€4,070 | -18.1% |
| Suppliers | 440/4 | €22,526 | €18,456 | -€4,070 | -18.1% |
| Taxes, remuneration and social security | 45 | €955 | €0 | -€955 | -100% |
| Taxes | 450/3 | €955 | €0 | -€955 | -100% |
| Other amounts payable | 47/48 | €83,737 | €74,345 | -€9,392 | -11.2% |
| Accrued charges and deferred income | 492/3 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,279 | €35,279 | +€0 | 0.0% |
| Other operating charges | 640/8 | €1,342 | €1,323 | -€19 | -1.4% |
| Gross operating margin | 9900 | €24,579 | €41,264 | +€16,686 | +67.9% |
| Operating profit (loss) | 9901 | -€12,042 | €4,663 | +€16,704 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,158 | €1,650 | -€508 | -23.5% |
| Recurring financial charges | 65 | €2,158 | €1,650 | -€508 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,200 | €3,012 | +€17,212 | |
| Profit (loss) for the period | 9904 | -€14,200 | €3,012 | +€17,212 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,200 | €3,012 | +€17,212 |
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 23 October 2026 via checked.be.