Katrien Maris: 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.
Katrien Maris
Largest movements
- Receivables within one year +€40,917
up €40,917 (+31.9%), from €128,344 to €169,261
of which Other amounts receivable: +€38,069
- Cash -€4,506
down €4,506 (-97.3%), from €4,632 to €126
mainly Receivables within one year (-€40,917)
- Reserves +€26,966
up €26,966 (+25.2%), from €107,032 to €133,998
of which Distributable reserves: +€26,966
- Tax, wage and social debts +€8,540
up €8,540 (+29.5%), from €28,956 to €37,496
- Gross operating margin +€11,769
up €11,769 (+33.5%), from €35,179 to €46,948
- Taxes +€7,157
up €7,157 (+69.1%), from €10,360 to €17,517
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 | €136,988 | €172,494 | +€35,506 | +25.9% |
| Fixed assets | 21/28 | €4,012 | €3,107 | -€905 | -22.6% |
| Tangible fixed assets | 22/27 | €4,012 | €3,107 | -€905 | -22.6% |
| Furniture and vehicles | 24 | €4,012 | €3,107 | -€905 | -22.6% |
| Current assets | 29/58 | €132,976 | €169,387 | +€36,411 | +27.4% |
| Amounts receivable within one year | 40/41 | €128,344 | €169,261 | +€40,917 | +31.9% |
| Trade receivables | 40 | €3,092 | €5,940 | +€2,848 | +92.1% |
| Other amounts receivable | 41 | €125,252 | €163,321 | +€38,069 | +30.4% |
| Cash at bank and in hand | 54/58 | €4,632 | €126 | -€4,506 | -97.3% |
| Total equity and liabilities | 10/49 | €136,988 | €172,494 | +€35,506 | +25.9% |
| Equity | 10/15 | €108,032 | €134,998 | +€26,966 | +25.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €107,032 | €133,998 | +€26,966 | +25.2% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €106,932 | €133,898 | +€26,966 | +25.2% |
| Amounts payable | 17/49 | €28,956 | €37,496 | +€8,540 | +29.5% |
| Amounts payable within one year | 42/48 | €28,956 | €37,496 | +€8,540 | +29.5% |
| Taxes, remuneration and social security | 45 | €28,956 | €37,496 | +€8,540 | +29.5% |
| Taxes | 450/3 | €28,956 | €37,496 | +€8,540 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €513 | €905 | +€392 | +76.5% |
| Other operating charges | 640/8 | €869 | €1,335 | +€466 | +53.7% |
| Gross operating margin | 9900 | €35,179 | €46,948 | +€11,769 | +33.5% |
| Operating profit (loss) | 9901 | €33,798 | €44,708 | +€10,910 | +32.3% |
| Financial charges | 65/66B | €167 | €226 | +€58 | +35.0% |
| Recurring financial charges | 65 | €167 | €226 | +€58 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €33,631 | €44,483 | +€10,852 | +32.3% |
| Income taxes | 67/77 | €10,360 | €17,517 | +€7,157 | +69.1% |
| Profit (loss) for the period | 9904 | €23,271 | €26,966 | +€3,695 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,271 | €26,966 | +€3,695 | +15.9% |
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.