Kim Speijer: 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.
Kim Speijer
Largest movements
- Current investments +€46,951
up €46,951 (+62.6%), from €75,000 to €121,951
- Cash -€10,322
down €10,322 (-14.3%), from €72,234 to €61,913
mainly Contributions, distributions and other (-€157,313) and Current investments (-€46,951)
- Other debts +€155,695
up €155,695 (+9,622%), from €1,618 to €157,313
- Reserves -€105,404
down €105,404 (-100%), from €105,404 to €0
- Tax, wage and social debts -€12,738
down €12,738 (-51.7%), from €24,627 to €11,889
- Gross operating margin +€12,770
up €12,770 (+23.8%), from €53,568 to €66,338
- Financial income +€4,706
up €4,706 (+2,873%), from €164 to €4,869
- Financial charges +€2,848
up €2,848 (+166%), from €1,721 to €4,569
- Taxes +€2,230
up €2,230 (+18.9%), from €11,814 to €14,044
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 | €149,257 | €185,910 | +€36,653 | +24.6% |
| Current assets | 29/58 | €149,257 | €185,910 | +€36,653 | +24.6% |
| Amounts receivable within one year | 40/41 | - | €24 | +€24 | |
| Other amounts receivable | 41 | - | €24 | +€24 | |
| Current investments | 50/53 | €75,000 | €121,951 | +€46,951 | +62.6% |
| Cash at bank and in hand | 54/58 | €72,234 | €61,913 | -€10,322 | -14.3% |
| Deferred charges and accrued income | 490/1 | €2,023 | €2,023 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €149,257 | €185,910 | +€36,653 | +24.6% |
| Equity | 10/15 | €120,404 | €15,000 | -€105,404 | -87.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €105,404 | €0 | -€105,404 | -100% |
| Distributable reserves | 133 | €105,404 | €0 | -€105,404 | -100% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €28,853 | €170,910 | +€142,058 | +492% |
| Amounts payable within one year | 42/48 | €28,853 | €170,910 | +€142,058 | +492% |
| Trade debts | 44 | €2,608 | €1,708 | -€900 | -34.5% |
| Suppliers | 440/4 | €2,608 | €1,708 | -€900 | -34.5% |
| Taxes, remuneration and social security | 45 | €24,627 | €11,889 | -€12,738 | -51.7% |
| Taxes | 450/3 | €24,627 | €11,889 | -€12,738 | -51.7% |
| Other amounts payable | 47/48 | €1,618 | €157,313 | +€155,695 | +9,622% |
| Other operating charges | 640/8 | €668 | €684 | +€16 | +2.4% |
| Gross operating margin | 9900 | €53,568 | €66,338 | +€12,770 | +23.8% |
| Operating profit (loss) | 9901 | €52,900 | €65,653 | +€12,754 | +24.1% |
| Financial income | 75/76B | €164 | €4,869 | +€4,706 | +2,873% |
| Recurring financial income | 75 | €164 | €4,869 | +€4,706 | +2,873% |
| Financial charges | 65/66B | €1,721 | €4,569 | +€2,848 | +166% |
| Recurring financial charges | 65 | €1,721 | €4,569 | +€2,848 | +166% |
| Profit (loss) for the period before taxes | 9903 | €51,342 | €65,954 | +€14,611 | +28.5% |
| Income taxes | 67/77 | €11,814 | €14,044 | +€2,230 | +18.9% |
| Profit (loss) for the period | 9904 | €39,529 | €51,909 | +€12,381 | +31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,529 | €51,909 | +€12,381 | +31.3% |
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 1 November 2026 via checked.be.