Ingrid Baele: 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.
Ingrid Baele
Largest movements
- Cash +€20,139
up €20,139 (+8.2%), from €245,773 to €265,913
mainly Net result for the year (+€37,913) and Depreciation (+€1,192)
- Tangible fixed assets +€4,387
new in 2025: €4,387
- Reserves +€37,913
up €37,913 (+18.4%), from €205,644 to €243,557
- Tax, wage and social debts -€14,192
down €14,192 (-57.0%), from €24,888 to €10,696
of which Taxes: -€14,192
- Gross operating margin -€20,549
down €20,549 (-26.8%), from €76,740 to €56,191
- Taxes -€1,621
down €1,621 (-9.4%), from €17,253 to €15,632
- Depreciation +€1,192
new in 2025: €1,192
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 | €247,085 | €271,378 | +€24,293 | +9.8% |
| Fixed assets | 21/28 | - | €4,387 | +€4,387 | |
| Tangible fixed assets | 22/27 | - | €4,387 | +€4,387 | |
| Furniture and vehicles | 24 | - | €4,387 | +€4,387 | |
| Current assets | 29/58 | €247,085 | €266,991 | +€19,905 | +8.1% |
| Amounts receivable within one year | 40/41 | - | €219 | +€219 | |
| Other amounts receivable | 41 | - | €219 | +€219 | |
| Cash at bank and in hand | 54/58 | €245,773 | €265,913 | +€20,139 | +8.2% |
| Deferred charges and accrued income | 490/1 | €1,312 | €859 | -€453 | -34.5% |
| Total equity and liabilities | 10/49 | €247,085 | €271,378 | +€24,293 | +9.8% |
| Equity | 10/15 | €220,644 | €258,557 | +€37,913 | +17.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €205,644 | €243,557 | +€37,913 | +18.4% |
| Distributable reserves | 133 | €205,644 | €243,557 | +€37,913 | +18.4% |
| Amounts payable | 17/49 | €26,441 | €12,821 | -€13,620 | -51.5% |
| Amounts payable within one year | 42/48 | €26,441 | €12,821 | -€13,620 | -51.5% |
| Trade debts | 44 | €1,553 | €2,125 | +€572 | +36.8% |
| Suppliers | 440/4 | €1,553 | €2,125 | +€572 | +36.8% |
| Taxes, remuneration and social security | 45 | €24,888 | €10,696 | -€14,192 | -57.0% |
| Taxes | 450/3 | €24,381 | €10,189 | -€14,192 | -58.2% |
| Remuneration and social security | 454/9 | €507 | €507 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,192 | +€1,192 | |
| Other operating charges | 640/8 | €922 | €1,364 | +€443 | +48.0% |
| Gross operating margin | 9900 | €76,740 | €56,191 | -€20,549 | -26.8% |
| Operating profit (loss) | 9901 | €75,818 | €53,634 | -€22,184 | -29.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €89 | €89 | = | 0.0% |
| Recurring financial charges | 65 | €89 | €89 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €75,729 | €53,545 | -€22,184 | -29.3% |
| Income taxes | 67/77 | €17,253 | €15,632 | -€1,621 | -9.4% |
| Profit (loss) for the period | 9904 | €58,476 | €37,913 | -€20,563 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,476 | €37,913 | -€20,563 | -35.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.