Inge Buyse: 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.
What changed
Inge Buyse
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€137,935
2024 · €165,185-€27,250
Equity
€1.1m
2024 · €1.6m-€444,735
Cash
€568,481
2024 · €593,172-€24,691
Balance sheet total
€1.4m
2024 · €1.7m-€283,670
Largest movements
Assets
- Receivables after one year -€280,200
down €280,200 (-93.4%), from €300,000 to €19,800
of which Other amounts receivable: -€280,200
- Cash -€24,691
down €24,691 (-4.2%), from €593,172 to €568,481
mainly Contributions, distributions and other (-€582,670) and Investment in fixed assets (net) (-€76,922)
Equity and liabilities
- Reserves -€444,737
down €444,737 (-28.4%), from €1.6m to €1.1m
of which Distributable reserves: -€442,560
- Other debts +€173,453
up €173,453 (+578%), from €30,000 to €203,453
Income statement
- Gross operating margin -€30,514
down €30,514 (-10.4%), from €294,202 to €263,688
- Taxes -€8,864
down €8,864 (-12.1%), from €73,021 to €64,157
- Depreciation +€3,979
up €3,979 (+6.8%), from €58,172 to €62,151
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.
Result 2024
€165,185
Gross operating margin
-€30,514
Staff costs
-€1,045
Depreciation
-€3,979
Other operating charges
+€679
Financial income
-€2,226
Financial charges
+€971
Taxes
+€8,864
Result 2025
€137,935
raises the resultlowers the result
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.
From operations
+€647,402
Investment
-€76,922
Financing
-€595,172
Cash 2024
€593,172
From operations (derived)
+€647,402
Net result for the year
+€137,935
Depreciation
+€62,151
Receivables after one year
+€280,200
Smaller working-capital items
-€3,132
Deferred charges and accrued income
-€5,066
Trade debts
+€1,861
Other debts
+€173,453
Investment (derived)
-€76,922
Investment in fixed assets (net)
-€76,922
Financing
-€595,172
Debts after one year
-€7,810
Current portion of long-term debt
-€3,423
Short-term financial debts
-€1,269
Contributions, distributions and other
-€582,670
Cash 2025
€568,481
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,699,008 | €1,415,338 | -€283,670 | -16.7% |
| Fixed assets | 21/28 | €633,025 | €647,796 | +€14,771 | +2.3% |
| Tangible fixed assets | 22/27 | €633,025 | €647,796 | +€14,771 | +2.3% |
| Land and buildings | 22 | €414,378 | €423,352 | +€8,974 | +2.2% |
| Plant, machinery and equipment | 23 | €121,998 | €128,204 | +€6,206 | +5.1% |
| Furniture and vehicles | 24 | €96,649 | €96,241 | -€408 | -0.4% |
| Current assets | 29/58 | €1,065,983 | €767,542 | -€298,441 | -28.0% |
| Amounts receivable after more than one year | 29 | €300,000 | €19,800 | -€280,200 | -93.4% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €300,000 | €19,800 | -€280,200 | -93.4% |
| Amounts receivable within one year | 40/41 | €237 | €1,621 | +€1,384 | +583% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €237 | €1,621 | +€1,384 | +583% |
| Current investments | 50/53 | €153,000 | €153,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €593,172 | €568,481 | -€24,691 | -4.2% |
| Deferred charges and accrued income | 490/1 | €19,574 | €24,640 | +€5,066 | +25.9% |
| Total equity and liabilities | 10/49 | €1,699,008 | €1,415,338 | -€283,670 | -16.7% |
| Equity | 10/15 | €1,573,827 | €1,129,092 | -€444,735 | -28.3% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €1,567,160 | €1,122,423 | -€444,737 | -28.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,570 | €124,393 | -€2,177 | -1.7% |
| Distributable reserves | 133 | €1,438,730 | €996,170 | -€442,560 | -30.8% |
| Profit (loss) carried forward | 14 | €461 | €463 | +€2 | +0.4% |
| Provisions and deferred taxes | 16 | €49,625 | €48,504 | -€1,121 | -2.3% |
| Deferred taxes | 168 | €49,625 | €48,504 | -€1,121 | -2.3% |
| Amounts payable | 17/49 | €75,556 | €237,742 | +€162,186 | +215% |
| Amounts payable after more than one year | 17 | €7,810 | €0 | -€7,810 | -100% |
| Financial debts | 170/4 | €7,810 | €0 | -€7,810 | -100% |
| Amounts payable within one year | 42/48 | €67,746 | €237,742 | +€169,996 | +251% |
| Current portion of amounts payable after more than one year | 42 | €11,233 | €7,810 | -€3,423 | -30.5% |
| Financial debts | 43 | €1,892 | €623 | -€1,269 | -67.1% |
| Credit institutions | 430/8 | €1,892 | €623 | -€1,269 | -67.1% |
| Trade debts | 44 | €2,681 | €4,543 | +€1,861 | +69.4% |
| Suppliers | 440/4 | €2,681 | €4,543 | +€1,861 | +69.4% |
| Taxes, remuneration and social security | 45 | €21,941 | €21,314 | -€627 | -2.9% |
| Taxes | 450/3 | €21,941 | €21,314 | -€627 | -2.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €30,000 | €203,453 | +€173,453 | +578% |
| Non-recurring operating income | 76A | €27,661 | €0 | -€27,661 | -100% |
| Remuneration, social security and pensions | 62 | €940 | €1,984 | +€1,045 | +111% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,172 | €62,151 | +€3,979 | +6.8% |
| Other operating charges | 640/8 | €5,772 | €5,093 | -€679 | -11.8% |
| Gross operating margin | 9900 | €294,202 | €263,688 | -€30,514 | -10.4% |
| Operating profit (loss) | 9901 | €229,318 | €194,460 | -€34,858 | -15.2% |
| Financial income | 75/76B | €11,093 | €8,867 | -€2,226 | -20.1% |
| Recurring financial income | 75 | €11,093 | €8,867 | -€2,226 | -20.1% |
| Financial charges | 65/66B | €3,327 | €2,357 | -€971 | -29.2% |
| Recurring financial charges | 65 | €3,327 | €2,357 | -€971 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €237,084 | €200,971 | -€36,113 | -15.2% |
| Transfer from deferred taxes | 780 | €1,121 | €1,121 | = | 0.0% |
| Income taxes | 67/77 | €73,021 | €64,157 | -€8,864 | -12.1% |
| Profit (loss) for the period | 9904 | €165,185 | €137,935 | -€27,250 | -16.5% |
| Transfer from tax-exempt reserves | 789 | €2,177 | €2,177 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €167,361 | €140,112 | -€27,250 | -16.3% |
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 17 October 2026 via checked.be.