Katrien Roussel: 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 Roussel
Largest movements
- Cash +€100,993
up €100,993 (+211.2%), from €47,808 to €148,801
mainly Net result for the year (+€269,664) and Depreciation (+€22,902)
- Current investments +€66,197
up €66,197 (+5.0%), from €1.3m to €1.4m
- Reserves +€118,850
up €118,850 (+10.9%), from €1.1m to €1.2m
- Other debts +€21,841
up €21,841 (+15.2%), from €143,265 to €165,106
- Gross operating margin +€22,772
up €22,772 (+5.9%), from €388,629 to €411,401
- Financial income +€10,211
up €10,211 (+80.4%), from €12,699 to €22,910
of which Financial income: +€7,182
- Taxes +€9,726
up €9,726 (+8.9%), from €109,043 to €118,769
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 | €1,489,164 | €1,645,918 | +€156,754 | +10.5% |
| Fixed assets | 21/28 | €120,148 | €106,445 | -€13,703 | -11.4% |
| Tangible fixed assets | 22/27 | €120,148 | €106,445 | -€13,703 | -11.4% |
| Land and buildings | 22 | €85,281 | €66,780 | -€18,501 | -21.7% |
| Plant, machinery and equipment | 23 | €16,346 | €20,984 | +€4,639 | +28.4% |
| Furniture and vehicles | 24 | €18,521 | €18,681 | +€160 | +0.9% |
| Current assets | 29/58 | €1,369,016 | €1,539,473 | +€170,457 | +12.5% |
| Amounts receivable within one year | 40/41 | €10,217 | €13,484 | +€3,267 | +32.0% |
| Trade receivables | 40 | €8,147 | €13,484 | +€5,337 | +65.5% |
| Other amounts receivable | 41 | €2,070 | - | -€2,070 | |
| Current investments | 50/53 | €1,310,991 | €1,377,188 | +€66,197 | +5.0% |
| Cash at bank and in hand | 54/58 | €47,808 | €148,801 | +€100,993 | +211.2% |
| Total equity and liabilities | 10/49 | €1,489,164 | €1,645,918 | +€156,754 | +10.5% |
| Equity | 10/15 | €1,232,664 | €1,351,514 | +€118,850 | +9.6% |
| Contributions | 10/11 | €142,709 | €142,709 | = | 0.0% |
| Reserves | 13 | €1,089,955 | €1,208,805 | +€118,850 | +10.9% |
| Distributable reserves | 133 | €1,089,955 | €1,208,805 | +€118,850 | +10.9% |
| Amounts payable | 17/49 | €256,500 | €294,405 | +€37,905 | +14.8% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €156,500 | €194,405 | +€37,905 | +24.2% |
| Trade debts | 44 | €6,285 | €10,613 | +€4,329 | +68.9% |
| Suppliers | 440/4 | €6,285 | €10,613 | +€4,329 | +68.9% |
| Taxes, remuneration and social security | 45 | €6,950 | €18,685 | +€11,735 | +168.8% |
| Taxes | 450/3 | €6,276 | €17,782 | +€11,506 | +183.3% |
| Remuneration and social security | 454/9 | €674 | €903 | +€229 | +34.1% |
| Other amounts payable | 47/48 | €143,265 | €165,106 | +€21,841 | +15.2% |
| Remuneration, social security and pensions | 62 | €10,037 | €10,524 | +€487 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,661 | €22,902 | +€1,241 | +5.7% |
| Other operating charges | 640/8 | €4,545 | €4,776 | +€231 | +5.1% |
| Gross operating margin | 9900 | €388,629 | €411,401 | +€22,772 | +5.9% |
| Operating profit (loss) | 9901 | €352,385 | €373,199 | +€20,813 | +5.9% |
| Financial income | 75/76B | €12,699 | €22,910 | +€10,211 | +80.4% |
| Recurring financial income | 75 | €12,699 | €19,881 | +€7,182 | +56.6% |
| Non-recurring financial income | 76B | - | €3,030 | +€3,030 | |
| Financial charges | 65/66B | €9,667 | €7,677 | -€1,990 | -20.6% |
| Recurring financial charges | 65 | €9,667 | €7,677 | -€1,990 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €355,418 | €388,432 | +€33,014 | +9.3% |
| Income taxes | 67/77 | €109,043 | €118,769 | +€9,726 | +8.9% |
| Profit (loss) for the period | 9904 | €246,375 | €269,664 | +€23,289 | +9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €246,375 | €269,664 | +€23,289 | +9.5% |
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 7 October 2026 via checked.be.