Justine VAN LERBERGE: 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.
Justine VAN LERBERGE
Largest movements
- Receivables within one year -€159,858
down €159,858 (-68.7%), from €232,858 to €73,000
of which Trade receivables: -€232,858
- Cash +€52,631
up €52,631 (+82.7%), from €63,638 to €116,269
mainly Net result for the year (+€220,475) and Receivables within one year (+€159,858)
- Other debts -€100,944
down €100,944 (-37.6%), from €268,532 to €167,588
- Trade debts -€3,946
down €3,946 (-99.4%), from €3,971 to €25
- Gross operating margin +€12,665
up €12,665 (+4.7%), from €271,144 to €283,810
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 | €296,791 | €192,147 | -€104,644 | -35.3% |
| Fixed assets | 21/28 | - | €2,878 | +€2,878 | |
| Tangible fixed assets | 22/27 | - | €2,878 | +€2,878 | |
| Land and buildings | 22 | - | €2,878 | +€2,878 | |
| Current assets | 29/58 | €296,791 | €189,269 | -€107,522 | -36.2% |
| Amounts receivable within one year | 40/41 | €232,858 | €73,000 | -€159,858 | -68.7% |
| Trade receivables | 40 | €232,858 | - | -€232,858 | |
| Other amounts receivable | 41 | - | €73,000 | +€73,000 | |
| Cash at bank and in hand | 54/58 | €63,638 | €116,269 | +€52,631 | +82.7% |
| Deferred charges and accrued income | 490/1 | €295 | €0 | -€295 | -100.0% |
| Total equity and liabilities | 10/49 | €296,791 | €192,147 | -€104,644 | -35.3% |
| Equity | 10/15 | €19,331 | €19,806 | +€475 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €731 | €1,206 | +€475 | +65.0% |
| Amounts payable | 17/49 | €277,461 | €172,341 | -€105,119 | -37.9% |
| Amounts payable within one year | 42/48 | €277,461 | €172,341 | -€105,119 | -37.9% |
| Trade debts | 44 | €3,971 | €25 | -€3,946 | -99.4% |
| Suppliers | 440/4 | €3,971 | €25 | -€3,946 | -99.4% |
| Taxes, remuneration and social security | 45 | €4,957 | €4,728 | -€229 | -4.6% |
| Taxes | 450/3 | €4,957 | €4,728 | -€229 | -4.6% |
| Other amounts payable | 47/48 | €268,532 | €167,588 | -€100,944 | -37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €22 | +€22 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €271,144 | €283,810 | +€12,665 | +4.7% |
| Operating profit (loss) | 9901 | €270,757 | €283,388 | +€12,631 | +4.7% |
| Financial charges | 65/66B | €234 | €255 | +€21 | +8.9% |
| Recurring financial charges | 65 | €234 | €255 | +€21 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €270,523 | €283,133 | +€12,610 | +4.7% |
| Income taxes | 67/77 | €59,835 | €62,658 | +€2,823 | +4.7% |
| Profit (loss) for the period | 9904 | €210,688 | €220,475 | +€9,787 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €210,688 | €220,475 | +€9,787 | +4.6% |
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 28 October 2026 via checked.be.