Kathleen Tack: 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.
Kathleen Tack
Largest movements
- Receivables within one year -€149,419
down €149,419 (-98.8%), from €151,220 to €1,801
of which Other amounts receivable: -€148,228
- Cash -€67,025
down €67,025 (-20.4%), from €329,240 to €262,215
mainly Contributions, distributions and other (-€323,743) and Tax, wage and social debts (-€81,468)
- Profit (loss) carried forward -€137,252
down €137,252 (-83.8%), from €163,743 to €26,490
- Tax, wage and social debts -€81,468
down €81,468 (-68.0%), from €119,795 to €38,328
- Gross operating margin +€26,615
up €26,615 (+12.3%), from €216,927 to €243,542
- Taxes +€7,544
up €7,544 (+15.2%), from €49,731 to €57,276
- Financial income +€4,169
up €4,169 (+383%), from €1,088 to €5,256
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 | €491,535 | €272,467 | -€219,068 | -44.6% |
| Fixed assets | 21/28 | €9,988 | €8,282 | -€1,706 | -17.1% |
| Tangible fixed assets | 22/27 | €9,988 | €8,282 | -€1,706 | -17.1% |
| Furniture and vehicles | 24 | €3,413 | €2,388 | -€1,025 | -30.0% |
| Other tangible fixed assets | 26 | €6,575 | €5,894 | -€682 | -10.4% |
| Current assets | 29/58 | €481,547 | €264,185 | -€217,362 | -45.1% |
| Amounts receivable within one year | 40/41 | €151,220 | €1,801 | -€149,419 | -98.8% |
| Trade receivables | 40 | €1,192 | - | -€1,192 | |
| Other amounts receivable | 41 | €150,028 | €1,801 | -€148,228 | -98.8% |
| Cash at bank and in hand | 54/58 | €329,240 | €262,215 | -€67,025 | -20.4% |
| Deferred charges and accrued income | 490/1 | €1,087 | €170 | -€918 | -84.4% |
| Total equity and liabilities | 10/49 | €491,535 | €272,467 | -€219,068 | -44.6% |
| Equity | 10/15 | €368,212 | €230,959 | -€137,252 | -37.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €189,469 | €189,469 | = | 0.0% |
| Distributable reserves | 133 | €189,469 | €189,469 | = | 0.0% |
| Profit (loss) carried forward | 14 | €163,743 | €26,490 | -€137,252 | -83.8% |
| Amounts payable | 17/49 | €123,323 | €41,508 | -€81,816 | -66.3% |
| Amounts payable within one year | 42/48 | €121,823 | €39,508 | -€82,316 | -67.6% |
| Trade debts | 44 | €2,028 | - | -€2,028 | |
| Suppliers | 440/4 | €2,028 | - | -€2,028 | |
| Taxes, remuneration and social security | 45 | €119,795 | €38,328 | -€81,468 | -68.0% |
| Taxes | 450/3 | €119,795 | €38,328 | -€81,468 | -68.0% |
| Other amounts payable | 47/48 | - | €1,180 | +€1,180 | |
| Accrued charges and deferred income | 492/3 | €1,500 | €2,000 | +€500 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €815 | €1,706 | +€891 | +109% |
| Other operating charges | 640/8 | €1,118 | €1,160 | +€43 | +3.8% |
| Gross operating margin | 9900 | €216,927 | €243,542 | +€26,615 | +12.3% |
| Operating profit (loss) | 9901 | €214,994 | €240,676 | +€25,682 | +11.9% |
| Financial income | 75/76B | €1,088 | €5,256 | +€4,169 | +383% |
| Recurring financial income | 75 | €1,088 | €5,256 | +€4,169 | +383% |
| Financial charges | 65/66B | €2,607 | €2,166 | -€442 | -16.9% |
| Recurring financial charges | 65 | €2,607 | €2,166 | -€442 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €213,474 | €243,766 | +€30,292 | +14.2% |
| Income taxes | 67/77 | €49,731 | €57,276 | +€7,544 | +15.2% |
| Profit (loss) for the period | 9904 | €163,743 | €186,490 | +€22,748 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €163,743 | €186,490 | +€22,748 | +13.9% |
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.