Karen Devriendt: 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.
Karen Devriendt
Largest movements
- Tangible fixed assets +€46,981
up €46,981 (+839.4%), from €5,597 to €52,578
of which Furniture and vehicles: +€45,635
- Cash +€3,294
up €3,294 (+12.3%), from €26,792 to €30,086
mainly Debts after one year (+€30,723) and Net result for the year (+€10,530)
- Debts after one year +€30,723
new in 2025: €30,723
- Reserves +€10,530
up €10,530 (+151.8%), from €6,939 to €17,469
of which Distributable reserves: +€10,530
- Current portion of long-term debt +€7,393
new in 2025: €7,393
- Tax, wage and social debts +€1,393
up €1,393 (+45.1%), from €3,092 to €4,486
- Gross operating margin +€4,949
up €4,949 (+32.9%), from €15,025 to €19,974
- Depreciation +€1,465
up €1,465 (+71.7%), from €2,043 to €3,508
- Taxes +€1,225
up €1,225 (+35.3%), from €3,472 to €4,698
- Other operating charges +€247
up €247 (+36.1%), from €686 to €934
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 | €32,688 | €83,047 | +€50,359 | +154.1% |
| Fixed assets | 21/28 | €5,597 | €52,578 | +€46,981 | +839.4% |
| Tangible fixed assets | 22/27 | €5,597 | €52,578 | +€46,981 | +839.4% |
| Plant, machinery and equipment | 23 | €4,209 | €2,691 | -€1,518 | -36.1% |
| Furniture and vehicles | 24 | €1,387 | €47,022 | +€45,635 | +3289.3% |
| Other tangible fixed assets | 26 | - | €2,865 | +€2,865 | |
| Current assets | 29/58 | €27,092 | €30,469 | +€3,378 | +12.5% |
| Amounts receivable within one year | 40/41 | €299 | €383 | +€84 | +28.0% |
| Trade receivables | 40 | €299 | €383 | +€84 | +28.0% |
| Cash at bank and in hand | 54/58 | €26,792 | €30,086 | +€3,294 | +12.3% |
| Total equity and liabilities | 10/49 | €32,688 | €83,047 | +€50,359 | +154.1% |
| Equity | 10/15 | €25,539 | €36,069 | +€10,530 | +41.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,939 | €17,469 | +€10,530 | +151.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €5,079 | €15,609 | +€10,530 | +207.3% |
| Amounts payable | 17/49 | €7,150 | €46,979 | +€39,829 | +557.1% |
| Amounts payable after more than one year | 17 | - | €30,723 | +€30,723 | |
| Financial debts | 170/4 | - | €30,723 | +€30,723 | |
| Amounts payable within one year | 42/48 | €7,150 | €16,256 | +€9,106 | +127.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,393 | +€7,393 | |
| Trade debts | 44 | - | €127 | +€127 | |
| Suppliers | 440/4 | - | €127 | +€127 | |
| Taxes, remuneration and social security | 45 | €3,092 | €4,486 | +€1,393 | +45.1% |
| Taxes | 450/3 | €3,092 | €4,486 | +€1,393 | +45.1% |
| Other amounts payable | 47/48 | €4,057 | €4,251 | +€193 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,043 | €3,508 | +€1,465 | +71.7% |
| Other operating charges | 640/8 | €686 | €934 | +€247 | +36.1% |
| Gross operating margin | 9900 | €15,025 | €19,974 | +€4,949 | +32.9% |
| Operating profit (loss) | 9901 | €12,296 | €15,532 | +€3,236 | +26.3% |
| Financial income | 75/76B | €84 | €258 | +€174 | +208.2% |
| Recurring financial income | 75 | €84 | €258 | +€174 | +208.2% |
| Financial charges | 65/66B | €561 | €562 | +€1 | +0.2% |
| Recurring financial charges | 65 | €561 | €562 | +€1 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €11,819 | €15,228 | +€3,409 | +28.8% |
| Income taxes | 67/77 | €3,472 | €4,698 | +€1,225 | +35.3% |
| Profit (loss) for the period | 9904 | €8,347 | €10,530 | +€2,183 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,347 | €10,530 | +€2,183 | +26.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.