K. DERAMOUDT: what changed
Two fiscal 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.
K. DERAMOUDT
Largest movements
- Tangible fixed assets +€36,692
up €36,692 (+60.3%), from €60,887 to €97,579
of which Leasing and similar rights: +€32,990
- Receivables within one year +€9,018
up €9,018 (+65.9%), from €13,685 to €22,703
of which Other amounts receivable: +€7,528
- Cash -€8,516
down €8,516 (-83.1%), from €10,247 to €1,731
mainly Investment in fixed assets (net) (-€51,330) and Receivables within one year (-€9,018)
- Financial fixed assets +€2,115
new in 2025: €2,115
- Reserves +€14,783
up €14,783 (+74.7%), from €19,798 to €34,582
- Current portion of long-term debt +€12,476
up €12,476 (+50.7%), from €24,596 to €37,072
- Other debts +€9,311
up €9,311 (+197.9%), from €4,704 to €14,015
- Trade debts +€3,252
up €3,252 (+69.2%), from €4,701 to €7,952
- Gross operating margin +€19,366
up €19,366 (+33.1%), from €58,528 to €77,893
- Other operating charges +€9,619
up €9,619 (+48.3%), from €19,931 to €29,550
- Financial charges +€4,765
up €4,765, from -€1,272 to €3,493
- Depreciation -€3,044
down €3,044 (-19.6%), from €15,567 to €12,523
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.
Cash bridge derived
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 | €84,819 | €124,422 | +€39,603 | +46.7% |
| Fixed assets | 21/28 | €60,887 | €99,694 | +€38,807 | +63.7% |
| Tangible fixed assets | 22/27 | €60,887 | €97,579 | +€36,692 | +60.3% |
| Plant, machinery and equipment | 23 | €5,295 | €4,095 | -€1,200 | -22.7% |
| Furniture and vehicles | 24 | €55,592 | €60,494 | +€4,903 | +8.8% |
| Leasing and similar rights | 25 | - | €32,990 | +€32,990 | |
| Financial fixed assets | 28 | - | €2,115 | +€2,115 | |
| Current assets | 29/58 | €23,932 | €24,728 | +€796 | +3.3% |
| Amounts receivable within one year | 40/41 | €13,685 | €22,703 | +€9,018 | +65.9% |
| Trade receivables | 40 | €12,811 | €14,300 | +€1,489 | +11.6% |
| Other amounts receivable | 41 | €874 | €8,402 | +€7,528 | +861.2% |
| Cash at bank and in hand | 54/58 | €10,247 | €1,731 | -€8,516 | -83.1% |
| Deferred charges and accrued income | 490/1 | - | €295 | +€295 | |
| Total equity and liabilities | 10/49 | €84,819 | €124,422 | +€39,603 | +46.7% |
| Equity | 10/15 | €24,798 | €39,582 | +€14,783 | +59.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €19,798 | €34,582 | +€14,783 | +74.7% |
| Distributable reserves | 133 | €19,798 | €34,582 | +€14,783 | +74.7% |
| Amounts payable | 17/49 | €60,020 | €84,840 | +€24,820 | +41.4% |
| Amounts payable after more than one year | 17 | €14,186 | €13,281 | -€905 | -6.4% |
| Financial debts | 170/4 | €14,186 | €13,281 | -€905 | -6.4% |
| Amounts payable within one year | 42/48 | €45,834 | €71,559 | +€25,726 | +56.1% |
| Current portion of amounts payable after more than one year | 42 | €24,596 | €37,072 | +€12,476 | +50.7% |
| Trade debts | 44 | €4,701 | €7,952 | +€3,252 | +69.2% |
| Suppliers | 440/4 | €4,701 | €7,952 | +€3,252 | +69.2% |
| Taxes, remuneration and social security | 45 | €11,833 | €12,520 | +€687 | +5.8% |
| Taxes | 450/3 | €11,833 | €12,020 | +€187 | +1.6% |
| Remuneration and social security | 454/9 | - | €500 | +€500 | |
| Other amounts payable | 47/48 | €4,704 | €14,015 | +€9,311 | +197.9% |
| Non-recurring operating income | 76A | - | €1,359 | +€1,359 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,567 | €12,523 | -€3,044 | -19.6% |
| Other operating charges | 640/8 | €19,931 | €29,550 | +€9,619 | +48.3% |
| Non-recurring operating charges | 66A | - | €12,079 | +€12,079 | |
| Gross operating margin | 9900 | €58,528 | €77,893 | +€19,366 | +33.1% |
| Operating profit (loss) | 9901 | €23,030 | €23,741 | +€712 | +3.1% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | -€1,272 | €3,493 | +€4,765 | |
| Recurring financial charges | 65 | -€1,272 | €3,493 | +€4,765 | |
| Profit (loss) for the period before taxes | 9903 | €24,301 | €20,250 | -€4,051 | -16.7% |
| Income taxes | 67/77 | €5,113 | €5,467 | +€354 | +6.9% |
| Profit (loss) for the period | 9904 | €19,188 | €14,783 | -€4,405 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,188 | €14,783 | -€4,405 | -23.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.