Karen Dereepere: what changed
Karen Dereepere
Largest movements
- Tangible fixed assets -€17,687
down €17,687 (-9.8%), from €179,991 to €162,304
- Cash +€13,003
up €13,003 (+30.5%), from €42,675 to €55,678
mainly Other debts (+€82,225) and Net result for the year (+€71,566)
- Receivables within one year -€12,400
down €12,400 (-24.1%), from €51,500 to €39,100
of which Trade receivables: -€11,900
- Reserves -€101,198
down €101,198 (-100%), from €101,198 to €0
- Other debts +€82,225
up €82,225 (+57.2%), from €143,695 to €225,919
- Gross operating margin -€12,776
down €12,776 (-9.6%), from €132,823 to €120,047
- Other operating charges -€9,469
down €9,469 (-94.8%), from €9,988 to €520
- Taxes -€4,639
down €4,639 (-19.7%), from €23,582 to €18,943
- Financial charges -€2,294
down €2,294 (-31.6%), from €7,258 to €4,963
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €276,107 | €258,148 | -€17,959 | -6.5% |
| Fixed assets | 21/28 | €179,991 | €162,304 | -€17,687 | -9.8% |
| Tangible fixed assets | 22/27 | €179,991 | €162,304 | -€17,687 | -9.8% |
| Land and buildings | 22 | €131,414 | €123,317 | -€8,097 | -6.2% |
| Plant, machinery and equipment | 23 | €8,741 | €7,564 | -€1,178 | -13.5% |
| Furniture and vehicles | 24 | €39,835 | €31,422 | -€8,413 | -21.1% |
| Current assets | 29/58 | €96,116 | €95,844 | -€272 | -0.3% |
| Amounts receivable within one year | 40/41 | €51,500 | €39,100 | -€12,400 | -24.1% |
| Trade receivables | 40 | €50,000 | €38,100 | -€11,900 | -23.8% |
| Other amounts receivable | 41 | €1,500 | €1,000 | -€500 | -33.3% |
| Cash at bank and in hand | 54/58 | €42,675 | €55,678 | +€13,003 | +30.5% |
| Deferred charges and accrued income | 490/1 | €1,941 | €1,066 | -€875 | -45.1% |
| Total equity and liabilities | 10/49 | €276,107 | €258,148 | -€17,959 | -6.5% |
| Equity | 10/15 | €119,748 | €18,550 | -€101,198 | -84.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €101,198 | €0 | -€101,198 | -100% |
| Distributable reserves | 133 | €101,198 | €0 | -€101,198 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €156,359 | €239,598 | +€83,238 | +53.2% |
| Amounts payable within one year | 42/48 | €156,359 | €239,598 | +€83,238 | +53.2% |
| Trade debts | 44 | €2,633 | €1,529 | -€1,103 | -41.9% |
| Suppliers | 440/4 | €2,633 | €1,529 | -€1,103 | -41.9% |
| Taxes, remuneration and social security | 45 | €10,032 | €12,149 | +€2,117 | +21.1% |
| Taxes | 450/3 | €10,032 | €9,799 | -€233 | -2.3% |
| Remuneration and social security | 454/9 | €0 | €2,350 | +€2,350 | |
| Other amounts payable | 47/48 | €143,695 | €225,919 | +€82,225 | +57.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,042 | €24,314 | -€728 | -2.9% |
| Other operating charges | 640/8 | €9,988 | €520 | -€9,469 | -94.8% |
| Gross operating margin | 9900 | €132,823 | €120,047 | -€12,776 | -9.6% |
| Operating profit (loss) | 9901 | €97,792 | €95,213 | -€2,579 | -2.6% |
| Financial income | 75/76B | €947 | €259 | -€687 | -72.6% |
| Recurring financial income | 75 | €947 | €259 | -€687 | -72.6% |
| Financial charges | 65/66B | €7,258 | €4,963 | -€2,294 | -31.6% |
| Recurring financial charges | 65 | €7,258 | €4,963 | -€2,294 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €91,481 | €90,509 | -€973 | -1.1% |
| Income taxes | 67/77 | €23,582 | €18,943 | -€4,639 | -19.7% |
| Profit (loss) for the period | 9904 | €67,899 | €71,566 | +€3,667 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €67,899 | €71,566 | +€3,667 | +5.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.