Inge Vanderreken: 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.
Inge Vanderreken
Largest movements
- Receivables within one year +€68,878
up €68,878 (+36.3%), from €189,967 to €258,845
of which Trade receivables: +€68,254
- Cash +€62,459
up €62,459 (+29.4%), from €212,268 to €274,727
mainly Net result for the year (+€607,482) and Other debts (+€116,421)
- Tangible fixed assets -€13,431
down €13,431 (-26.7%), from €50,279 to €36,847
- Other debts +€116,421
up €116,421 (+29.1%), from €399,933 to €516,355
- Gross operating margin +€192,536
up €192,536 (+30.8%), from €625,999 to €818,535
- Taxes +€49,145
up €49,145 (+33.1%), from €148,547 to €197,692
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 | €454,027 | €571,973 | +€117,945 | +26.0% |
| Fixed assets | 21/28 | €50,279 | €36,847 | -€13,431 | -26.7% |
| Tangible fixed assets | 22/27 | €50,279 | €36,847 | -€13,431 | -26.7% |
| Furniture and vehicles | 24 | €50,279 | €36,847 | -€13,431 | -26.7% |
| Current assets | 29/58 | €403,748 | €535,125 | +€131,377 | +32.5% |
| Amounts receivable within one year | 40/41 | €189,967 | €258,845 | +€68,878 | +36.3% |
| Trade receivables | 40 | €187,467 | €255,721 | +€68,254 | +36.4% |
| Other amounts receivable | 41 | €2,500 | €3,123 | +€623 | +24.9% |
| Cash at bank and in hand | 54/58 | €212,268 | €274,727 | +€62,459 | +29.4% |
| Deferred charges and accrued income | 490/1 | €1,513 | €1,554 | +€41 | +2.7% |
| Total equity and liabilities | 10/49 | €454,027 | €571,973 | +€117,945 | +26.0% |
| Equity | 10/15 | €20,000 | €20,000 | = | 0.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €434,027 | €551,973 | +€117,945 | +27.2% |
| Amounts payable within one year | 42/48 | €434,027 | €551,973 | +€117,945 | +27.2% |
| Trade debts | 44 | €4,926 | €2,570 | -€2,356 | -47.8% |
| Suppliers | 440/4 | €4,926 | €2,570 | -€2,356 | -47.8% |
| Taxes, remuneration and social security | 45 | €29,168 | €33,048 | +€3,880 | +13.3% |
| Taxes | 450/3 | €27,028 | €30,908 | +€3,880 | +14.4% |
| Remuneration and social security | 454/9 | €2,140 | €2,140 | = | 0.0% |
| Other amounts payable | 47/48 | €399,933 | €516,355 | +€116,421 | +29.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,431 | €13,431 | = | 0.0% |
| Other operating charges | 640/8 | €9,945 | €2,540 | -€7,405 | -74.5% |
| Gross operating margin | 9900 | €625,999 | €818,535 | +€192,536 | +30.8% |
| Operating profit (loss) | 9901 | €602,622 | €802,564 | +€199,941 | +33.2% |
| Financial income | 75/76B | €5,047 | €3,044 | -€2,004 | -39.7% |
| Recurring financial income | 75 | €5,047 | €2,878 | -€2,169 | -43.0% |
| Non-recurring financial income | 76B | - | €165 | +€165 | |
| Financial charges | 65/66B | €951 | €434 | -€517 | -54.4% |
| Recurring financial charges | 65 | €951 | €434 | -€517 | -54.4% |
| Profit (loss) for the period before taxes | 9903 | €606,719 | €805,174 | +€198,455 | +32.7% |
| Income taxes | 67/77 | €148,547 | €197,692 | +€49,145 | +33.1% |
| Profit (loss) for the period | 9904 | €458,172 | €607,482 | +€149,310 | +32.6% |
| Profit (loss) for the period to be appropriated | 9905 | €458,172 | €607,482 | +€149,310 | +32.6% |
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.