Judy Daems: 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.
Judy Daems
Largest movements
- Cash -€4,781
down €4,781 (-11.6%), from €41,089 to €36,308
mainly Tax, wage and social debts (-€10,792) and Contributions, distributions and other (-€4,193)
- Receivables within one year -€3,709
down €3,709 (-93.0%), from €3,987 to €278
of which Other amounts receivable: -€3,057
- Tangible fixed assets -€1,663
down €1,663 (-5.4%), from €30,820 to €29,157
- Tax, wage and social debts -€10,792
down €10,792 (-67.9%), from €15,892 to €5,100
of which Remuneration and social security: -€10,742
- Reserves +€6,923
up €6,923 (+12.8%), from €54,140 to €61,063
of which Distributable reserves: +€6,923
- Debts after one year -€4,136
down €4,136 (-28.7%), from €14,417 to €10,281
- Gross operating margin +€3,929
up €3,929 (+22.8%), from €17,195 to €21,124
- Taxes +€773
up €773 (+26.2%), from €2,949 to €3,722
- Other operating charges +€562
up €562 (+83.8%), from €671 to €1,234
- Depreciation +€476
up €476 (+12.0%), from €3,963 to €4,440
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 | €127,483 | €118,160 | -€9,323 | -7.3% |
| Fixed assets | 21/28 | €30,820 | €29,157 | -€1,663 | -5.4% |
| Tangible fixed assets | 22/27 | €30,820 | €29,157 | -€1,663 | -5.4% |
| Plant, machinery and equipment | 23 | €1,397 | €733 | -€664 | -47.6% |
| Furniture and vehicles | 24 | €1,219 | €959 | -€260 | -21.3% |
| Other tangible fixed assets | 26 | €28,204 | €27,465 | -€739 | -2.6% |
| Current assets | 29/58 | €96,663 | €89,003 | -€7,660 | -7.9% |
| Amounts receivable within one year | 40/41 | €3,987 | €278 | -€3,709 | -93.0% |
| Trade receivables | 40 | €652 | €0 | -€652 | -100% |
| Other amounts receivable | 41 | €3,334 | €278 | -€3,057 | -91.7% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €41,089 | €36,308 | -€4,781 | -11.6% |
| Deferred charges and accrued income | 490/1 | €1,588 | €2,418 | +€830 | +52.3% |
| Total equity and liabilities | 10/49 | €127,483 | €118,160 | -€9,323 | -7.3% |
| Equity | 10/15 | €72,740 | €79,663 | +€6,923 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,140 | €61,063 | +€6,923 | +12.8% |
| 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 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €43,780 | €50,703 | +€6,923 | +15.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €54,743 | €38,497 | -€16,246 | -29.7% |
| Amounts payable after more than one year | 17 | €14,417 | €10,281 | -€4,136 | -28.7% |
| Financial debts | 170/4 | €14,417 | €10,281 | -€4,136 | -28.7% |
| Amounts payable within one year | 42/48 | €37,961 | €27,051 | -€10,910 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €4,068 | €4,136 | +€68 | +1.7% |
| Trade debts | 44 | €1,983 | €2,703 | +€721 | +36.4% |
| Suppliers | 440/4 | €1,983 | €2,703 | +€721 | +36.4% |
| Taxes, remuneration and social security | 45 | €15,892 | €5,100 | -€10,792 | -67.9% |
| Taxes | 450/3 | €2,308 | €2,258 | -€49 | -2.1% |
| Remuneration and social security | 454/9 | €13,584 | €2,842 | -€10,742 | -79.1% |
| Other amounts payable | 47/48 | €16,018 | €15,112 | -€907 | -5.7% |
| Accrued charges and deferred income | 492/3 | €2,365 | €1,165 | -€1,200 | -50.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,963 | €4,440 | +€476 | +12.0% |
| Other operating charges | 640/8 | €671 | €1,234 | +€562 | +83.8% |
| Gross operating margin | 9900 | €17,195 | €21,124 | +€3,929 | +22.8% |
| Operating profit (loss) | 9901 | €12,561 | €15,451 | +€2,890 | +23.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €726 | €613 | -€113 | -15.6% |
| Recurring financial charges | 65 | €726 | €613 | -€113 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €11,836 | €14,838 | +€3,002 | +25.4% |
| Income taxes | 67/77 | €2,949 | €3,722 | +€773 | +26.2% |
| Profit (loss) for the period | 9904 | €8,887 | €11,116 | +€2,229 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,887 | €11,116 | +€2,229 | +25.1% |
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 30 October 2026 via checked.be.