Kris Duffeler: 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.
Kris Duffeler
Largest movements
- Receivables within one year -€2,631
down €2,631 (-21.0%), from €12,510 to €9,880
of which Other amounts receivable: -€1,540
- Tangible fixed assets -€1,916
down €1,916 (-11.0%), from €17,410 to €15,494
of which Other tangible fixed assets: -€1,096
- Cash -€1,281
down €1,281 (-8.7%), from €14,658 to €13,378
mainly Contributions, distributions and other (-€37,629) and Investment in fixed assets (net) (-€5,435)
- Current portion of long-term debt -€3,603
down €3,603 (-100%), from €3,603 to €0
- Other debts -€2,747
down €2,747 (-6.8%), from €40,510 to €37,763
- Trade debts +€850
up €850 (+190%), from €446 to €1,296
- Gross operating margin -€6,085
down €6,085 (-9.8%), from €62,162 to €56,077
- Depreciation -€2,073
down €2,073 (-22.0%), from €9,424 to €7,350
- Taxes -€646
down €646 (-5.9%), from €10,855 to €10,209
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 | €45,600 | €40,060 | -€5,540 | -12.1% |
| Fixed assets | 21/28 | €17,410 | €15,494 | -€1,916 | -11.0% |
| Tangible fixed assets | 22/27 | €17,410 | €15,494 | -€1,916 | -11.0% |
| Plant, machinery and equipment | 23 | €1,416 | €914 | -€501 | -35.4% |
| Furniture and vehicles | 24 | €7,521 | €7,202 | -€319 | -4.2% |
| Other tangible fixed assets | 26 | €8,473 | €7,378 | -€1,096 | -12.9% |
| Current assets | 29/58 | €28,190 | €24,566 | -€3,624 | -12.9% |
| Amounts receivable within one year | 40/41 | €12,510 | €9,880 | -€2,631 | -21.0% |
| Trade receivables | 40 | €9,450 | €8,359 | -€1,091 | -11.5% |
| Other amounts receivable | 41 | €3,060 | €1,521 | -€1,540 | -50.3% |
| Cash at bank and in hand | 54/58 | €14,658 | €13,378 | -€1,281 | -8.7% |
| Deferred charges and accrued income | 490/1 | €1,021 | €1,308 | +€287 | +28.1% |
| Total equity and liabilities | 10/49 | €45,600 | €40,060 | -€5,540 | -12.1% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €44,600 | €39,060 | -€5,540 | -12.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €44,600 | €39,060 | -€5,540 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €3,603 | €0 | -€3,603 | -100% |
| Trade debts | 44 | €446 | €1,296 | +€850 | +190% |
| Suppliers | 440/4 | €446 | €1,296 | +€850 | +190% |
| Taxes, remuneration and social security | 45 | €40 | €0 | -€40 | -100% |
| Taxes | 450/3 | €40 | €0 | -€40 | -100% |
| Other amounts payable | 47/48 | €40,510 | €37,763 | -€2,747 | -6.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,424 | €7,350 | -€2,073 | -22.0% |
| Other operating charges | 640/8 | €723 | €809 | +€86 | +12.0% |
| Non-recurring operating charges | 66A | €521 | €0 | -€521 | -100% |
| Gross operating margin | 9900 | €62,162 | €56,077 | -€6,085 | -9.8% |
| Operating profit (loss) | 9901 | €51,495 | €47,918 | -€3,577 | -6.9% |
| Financial income | 75/76B | €6 | €8 | +€1 | +16.2% |
| Recurring financial income | 75 | €6 | €8 | +€1 | +16.2% |
| Financial charges | 65/66B | €137 | €87 | -€50 | -36.3% |
| Recurring financial charges | 65 | €137 | €87 | -€50 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €51,365 | €47,838 | -€3,526 | -6.9% |
| Income taxes | 67/77 | €10,855 | €10,209 | -€646 | -5.9% |
| Profit (loss) for the period | 9904 | €40,510 | €37,629 | -€2,881 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,510 | €37,629 | -€2,881 | -7.1% |
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 21 October 2026 via checked.be.