Katrien Bousson: 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.
Katrien Bousson
Largest movements
- Receivables within one year +€23,297
up €23,297 (+48.0%), from €48,525 to €71,823
of which Trade receivables: +€69,273
- Cash -€16,700
down €16,700 (-5.2%), from €321,319 to €304,618
mainly Contributions, distributions and other (-€115,000) and Tax, wage and social debts (-€68,040)
- Other debts +€73,910
new in 2025: €73,910
- Tax, wage and social debts -€68,040
down €68,040 (-64.5%), from €105,450 to €37,410
- Gross operating margin -€248,364
down €248,364 (-66.6%), from €372,810 to €124,445
- Taxes -€70,041
down €70,041 (-49.5%), from €141,402 to €71,361
- Financial income +€5,950
up €5,950 (+8.8%), from €67,675 to €73,625
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 | €1,459,566 | €1,464,257 | +€4,691 | +0.3% |
| Fixed assets | 21/28 | €55,628 | €47,183 | -€8,445 | -15.2% |
| Tangible fixed assets | 22/27 | €55,628 | €47,183 | -€8,445 | -15.2% |
| Plant, machinery and equipment | 23 | €5,965 | €5,255 | -€709 | -11.9% |
| Furniture and vehicles | 24 | €47,263 | €35,766 | -€11,497 | -24.3% |
| Other tangible fixed assets | 26 | €2,400 | €6,161 | +€3,761 | +157% |
| Current assets | 29/58 | €1,403,938 | €1,417,074 | +€13,136 | +0.9% |
| Amounts receivable after more than one year | 29 | €925,000 | €925,000 | = | 0.0% |
| Other amounts receivable | 291 | €925,000 | €925,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,525 | €71,823 | +€23,297 | +48.0% |
| Trade receivables | 40 | - | €69,273 | +€69,273 | |
| Other amounts receivable | 41 | €48,525 | €2,550 | -€45,975 | -94.7% |
| Cash at bank and in hand | 54/58 | €321,319 | €304,618 | -€16,700 | -5.2% |
| Deferred charges and accrued income | 490/1 | €109,094 | €115,633 | +€6,539 | +6.0% |
| Total equity and liabilities | 10/49 | €1,459,566 | €1,464,257 | +€4,691 | +0.3% |
| Equity | 10/15 | €1,354,017 | €1,352,132 | -€1,885 | -0.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,352,600 | €1,350,700 | -€1,900 | -0.1% |
| Tax-exempt reserves | 132 | €210,500 | €84,200 | -€126,300 | -60.0% |
| Distributable reserves | 133 | €1,142,100 | €1,266,500 | +€124,400 | +10.9% |
| Profit (loss) carried forward | 14 | €417 | €432 | +€15 | +3.6% |
| Amounts payable | 17/49 | €105,548 | €112,124 | +€6,576 | +6.2% |
| Amounts payable within one year | 42/48 | €105,548 | €111,869 | +€6,321 | +6.0% |
| Trade debts | 44 | €99 | €550 | +€451 | +458% |
| Suppliers | 440/4 | €99 | €550 | +€451 | +458% |
| Taxes, remuneration and social security | 45 | €105,450 | €37,410 | -€68,040 | -64.5% |
| Taxes | 450/3 | €105,450 | €37,410 | -€68,040 | -64.5% |
| Other amounts payable | 47/48 | - | €73,910 | +€73,910 | |
| Accrued charges and deferred income | 492/3 | - | €255 | +€255 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,250 | €12,206 | -€1,043 | -7.9% |
| Other operating charges | 640/8 | €639 | €1,031 | +€392 | +61.4% |
| Gross operating margin | 9900 | €372,810 | €124,445 | -€248,364 | -66.6% |
| Operating profit (loss) | 9901 | €358,921 | €111,208 | -€247,713 | -69.0% |
| Financial income | 75/76B | €67,675 | €73,625 | +€5,950 | +8.8% |
| Recurring financial income | 75 | €67,675 | €73,625 | +€5,950 | +8.8% |
| Financial charges | 65/66B | €3,026 | €357 | -€2,669 | -88.2% |
| Recurring financial charges | 65 | €3,026 | €357 | -€2,669 | -88.2% |
| Profit (loss) for the period before taxes | 9903 | €423,570 | €184,476 | -€239,094 | -56.4% |
| Income taxes | 67/77 | €141,402 | €71,361 | -€70,041 | -49.5% |
| Profit (loss) for the period | 9904 | €282,168 | €113,115 | -€169,053 | -59.9% |
| Transfer from tax-exempt reserves | 789 | €107,774 | €126,300 | +€18,526 | +17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €389,943 | €239,415 | -€150,528 | -38.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.