INGRID DESRUMAUX: 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 DESRUMAUX
Largest movements
- Tangible fixed assets +€39,998
up €39,998 (+9.2%), from €435,784 to €475,782
of which Furniture and vehicles: +€68,602
- Cash -€29,271
down €29,271 (-35.9%), from €81,602 to €52,330
mainly Investment in fixed assets (net) (-€93,942) and Trade debts (-€69,860)
- Receivables within one year +€25,416
up €25,416 (+15.1%), from €168,394 to €193,810
of which Other amounts receivable: +€25,574
- Deferred charges and accrued income -€10,226
down €10,226 (-39.4%), from €25,927 to €15,701
- Reserves +€111,737
up €111,737 (+29.3%), from €380,830 to €492,567
- Trade debts -€69,860
down €69,860 (-92.6%), from €75,467 to €5,607
- Debts after one year -€15,157
down €15,157 (-8.1%), from €187,473 to €172,316
- Taxes -€10,305
down €10,305 (-23.8%), from €43,375 to €33,069
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 | €761,707 | €787,624 | +€25,917 | +3.4% |
| Fixed assets | 21/28 | €435,784 | €475,782 | +€39,998 | +9.2% |
| Tangible fixed assets | 22/27 | €435,784 | €475,782 | +€39,998 | +9.2% |
| Land and buildings | 22 | €214,093 | €214,747 | +€654 | +0.3% |
| Plant, machinery and equipment | 23 | €210,810 | €181,552 | -€29,258 | -13.9% |
| Furniture and vehicles | 24 | €10,881 | €79,483 | +€68,602 | +630% |
| Current assets | 29/58 | €325,923 | €311,842 | -€14,081 | -4.3% |
| Amounts receivable within one year | 40/41 | €168,394 | €193,810 | +€25,416 | +15.1% |
| Trade receivables | 40 | €4,059 | €3,901 | -€158 | -3.9% |
| Other amounts receivable | 41 | €164,335 | €189,909 | +€25,574 | +15.6% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €81,602 | €52,330 | -€29,271 | -35.9% |
| Deferred charges and accrued income | 490/1 | €25,927 | €15,701 | -€10,226 | -39.4% |
| Total equity and liabilities | 10/49 | €761,707 | €787,624 | +€25,917 | +3.4% |
| Equity | 10/15 | €393,230 | €504,967 | +€111,737 | +28.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €380,830 | €492,567 | +€111,737 | +29.3% |
| Distributable reserves | 133 | €380,830 | €492,567 | +€111,737 | +29.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €368,476 | €282,657 | -€85,819 | -23.3% |
| Amounts payable after more than one year | 17 | €187,473 | €172,316 | -€15,157 | -8.1% |
| Financial debts | 170/4 | €187,473 | €172,316 | -€15,157 | -8.1% |
| Amounts payable within one year | 42/48 | €180,381 | €109,718 | -€70,663 | -39.2% |
| Current portion of amounts payable after more than one year | 42 | €75,087 | €82,806 | +€7,718 | +10.3% |
| Financial debts | 43 | €453 | €0 | -€453 | -100% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €453 | €0 | -€453 | -100% |
| Trade debts | 44 | €75,467 | €5,607 | -€69,860 | -92.6% |
| Suppliers | 440/4 | €75,467 | €5,607 | -€69,860 | -92.6% |
| Taxes, remuneration and social security | 45 | €26,093 | €20,473 | -€5,620 | -21.5% |
| Taxes | 450/3 | €17,511 | €11,753 | -€5,758 | -32.9% |
| Remuneration and social security | 454/9 | €8,582 | €8,720 | +€138 | +1.6% |
| Other amounts payable | 47/48 | €3,281 | €833 | -€2,448 | -74.6% |
| Accrued charges and deferred income | 492/3 | €622 | €622 | = | 0.0% |
| Non-recurring operating income | 76A | - | €7,000 | +€7,000 | |
| Remuneration, social security and pensions | 62 | €50,417 | €51,877 | +€1,461 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,888 | €53,944 | -€1,944 | -3.5% |
| Other operating charges | 640/8 | €2,202 | €1,601 | -€601 | -27.3% |
| Gross operating margin | 9900 | €253,356 | €253,830 | +€474 | +0.2% |
| Operating profit (loss) | 9901 | €144,849 | €146,407 | +€1,558 | +1.1% |
| Financial income | 75/76B | €6,473 | €7,239 | +€766 | +11.8% |
| Recurring financial income | 75 | €6,473 | €7,239 | +€766 | +11.8% |
| Financial charges | 65/66B | €6,805 | €8,007 | +€1,202 | +17.7% |
| Recurring financial charges | 65 | €6,805 | €8,007 | +€1,202 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €144,517 | €145,639 | +€1,122 | +0.8% |
| Income taxes | 67/77 | €43,375 | €33,069 | -€10,305 | -23.8% |
| Profit (loss) for the period | 9904 | €101,142 | €112,570 | +€11,428 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €101,142 | €112,570 | +€11,428 | +11.3% |
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 26 October 2026 via checked.be.