Joëlle Stoffelen: 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.
Joëlle Stoffelen
Largest movements
- Cash +€15,530
up €15,530 (+44.2%), from €35,155 to €50,685
mainly Other debts (+€72,373) and Net result for the year (+€24,475)
- Receivables within one year +€8,444
up €8,444 (+62.9%), from €13,429 to €21,872
- Other debts +€72,373
up €72,373 (+2,171%), from €3,333 to €75,706
- Reserves -€52,032
down €52,032 (-100%), from €52,032 to €0
- Tax, wage and social debts +€3,732
up €3,732 (+413%), from €903 to €4,635
- Gross operating margin +€6,837
up €6,837 (+23.1%), from €29,572 to €36,410
- Depreciation +€2,061
up €2,061 (+142%), from €1,448 to €3,508
- Taxes +€1,213
up €1,213 (+20.4%), from €5,942 to €7,155
- Other operating charges +€1,124
up €1,124 (+250%), from €449 to €1,574
- Financial income +€750
up €750 (+1,032%), from €73 to €822
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 | €58,404 | €83,081 | +€24,677 | +42.3% |
| Fixed assets | 21/28 | €9,820 | €10,523 | +€703 | +7.2% |
| Tangible fixed assets | 22/27 | €9,820 | €10,523 | +€703 | +7.2% |
| Furniture and vehicles | 24 | €4,317 | €3,872 | -€444 | -10.3% |
| Other tangible fixed assets | 26 | €5,504 | €6,651 | +€1,148 | +20.9% |
| Current assets | 29/58 | €48,584 | €72,557 | +€23,974 | +49.3% |
| Amounts receivable within one year | 40/41 | €13,429 | €21,872 | +€8,444 | +62.9% |
| Other amounts receivable | 41 | €13,429 | €21,872 | +€8,444 | +62.9% |
| Cash at bank and in hand | 54/58 | €35,155 | €50,685 | +€15,530 | +44.2% |
| Total equity and liabilities | 10/49 | €58,404 | €83,081 | +€24,677 | +42.3% |
| Equity | 10/15 | €53,532 | €1,500 | -€52,032 | -97.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €52,032 | €0 | -€52,032 | -100% |
| Distributable reserves | 133 | €52,032 | €0 | -€52,032 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €4,872 | €81,581 | +€76,709 | +1,574% |
| Amounts payable within one year | 42/48 | €4,872 | €81,581 | +€76,709 | +1,574% |
| Trade debts | 44 | €636 | €1,241 | +€604 | +94.9% |
| Suppliers | 440/4 | €636 | €1,241 | +€604 | +94.9% |
| Taxes, remuneration and social security | 45 | €903 | €4,635 | +€3,732 | +413% |
| Taxes | 450/3 | €903 | €4,635 | +€3,732 | +413% |
| Other amounts payable | 47/48 | €3,333 | €75,706 | +€72,373 | +2,171% |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,448 | €3,508 | +€2,061 | +142% |
| Other operating charges | 640/8 | €449 | €1,574 | +€1,124 | +250% |
| Non-recurring operating charges | 66A | €360 | €0 | -€360 | -100% |
| Gross operating margin | 9900 | €29,572 | €36,410 | +€6,837 | +23.1% |
| Operating profit (loss) | 9901 | €27,315 | €31,078 | +€3,762 | +13.8% |
| Financial income | 75/76B | €73 | €822 | +€750 | +1,032% |
| Recurring financial income | 75 | €73 | €822 | +€750 | +1,032% |
| Financial charges | 65/66B | €261 | €270 | +€9 | +3.5% |
| Recurring financial charges | 65 | €261 | €270 | +€9 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €27,127 | €31,630 | +€4,503 | +16.6% |
| Income taxes | 67/77 | €5,942 | €7,155 | +€1,213 | +20.4% |
| Profit (loss) for the period | 9904 | €21,185 | €24,475 | +€3,290 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,185 | €24,475 | +€3,290 | +15.5% |
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 27 October 2026 via checked.be.