Kristel De Blezer: 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.
Kristel De Blezer
Largest movements
- Tangible fixed assets -€1,548
down €1,548 (-26.1%), from €5,940 to €4,392
of which Furniture and vehicles: -€1,276
- Receivables within one year -€1,298
down €1,298 (-3.5%), from €36,716 to €35,418
of which Other amounts receivable: -€814
- Profit (loss) carried forward +€33,728
new in 2025: €33,728
- Reserves -€29,714
down €29,714 (-94.1%), from €31,574 to €1,860
- Current portion of long-term debt -€3,381
no longer reported in 2025 (was €3,381)
- Tax, wage and social debts -€2,114
down €2,114 (-22.6%), from €9,350 to €7,236
- Trade debts -€1,402
down €1,402 (-65.3%), from €2,147 to €745
- Gross operating margin +€5,418
up €5,418 (+12.8%), from €42,455 to €47,873
- Taxes +€1,047
up €1,047 (+11.1%), from €9,391 to €10,438
- Other operating charges +€658
up €658 (+48.3%), from €1,363 to €2,020
- Financial charges -€575
down €575 (-33.6%), from €1,710 to €1,135
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 | €65,602 | €62,170 | -€3,432 | -5.2% |
| Fixed assets | 21/28 | €5,940 | €4,392 | -€1,548 | -26.1% |
| Tangible fixed assets | 22/27 | €5,940 | €4,392 | -€1,548 | -26.1% |
| Land and buildings | 22 | €1,707 | €1,434 | -€273 | -16.0% |
| Furniture and vehicles | 24 | €4,233 | €2,957 | -€1,276 | -30.1% |
| Current assets | 29/58 | €59,662 | €57,778 | -€1,884 | -3.2% |
| Amounts receivable within one year | 40/41 | €36,716 | €35,418 | -€1,298 | -3.5% |
| Trade receivables | 40 | €26,136 | €25,652 | -€484 | -1.9% |
| Other amounts receivable | 41 | €10,580 | €9,766 | -€814 | -7.7% |
| Cash at bank and in hand | 54/58 | €21,341 | €20,998 | -€343 | -1.6% |
| Deferred charges and accrued income | 490/1 | €1,605 | €1,362 | -€243 | -15.2% |
| Total equity and liabilities | 10/49 | €65,602 | €62,170 | -€3,432 | -5.2% |
| Equity | 10/15 | €50,174 | €54,188 | +€4,014 | +8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,574 | €1,860 | -€29,714 | -94.1% |
| Distributable reserves | 133 | €31,574 | €1,860 | -€29,714 | -94.1% |
| Profit (loss) carried forward | 14 | - | €33,728 | +€33,728 | |
| Amounts payable | 17/49 | €15,428 | €7,981 | -€7,447 | -48.3% |
| Amounts payable within one year | 42/48 | €14,878 | €7,981 | -€6,897 | -46.4% |
| Current portion of amounts payable after more than one year | 42 | €3,381 | - | -€3,381 | |
| Trade debts | 44 | €2,147 | €745 | -€1,402 | -65.3% |
| Suppliers | 440/4 | €2,147 | €745 | -€1,402 | -65.3% |
| Taxes, remuneration and social security | 45 | €9,350 | €7,236 | -€2,114 | -22.6% |
| Taxes | 450/3 | €9,350 | €7,236 | -€2,114 | -22.6% |
| Accrued charges and deferred income | 492/3 | €550 | - | -€550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,376 | €1,548 | +€172 | +12.5% |
| Other operating charges | 640/8 | €1,363 | €2,020 | +€658 | +48.3% |
| Gross operating margin | 9900 | €42,455 | €47,873 | +€5,418 | +12.8% |
| Operating profit (loss) | 9901 | €39,716 | €44,304 | +€4,589 | +11.6% |
| Financial income | 75/76B | €1,099 | €997 | -€101 | -9.2% |
| Recurring financial income | 75 | €1,099 | €997 | -€101 | -9.2% |
| Financial charges | 65/66B | €1,710 | €1,135 | -€575 | -33.6% |
| Recurring financial charges | 65 | €1,710 | €1,135 | -€575 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €39,104 | €44,166 | +€5,062 | +12.9% |
| Income taxes | 67/77 | €9,391 | €10,438 | +€1,047 | +11.1% |
| Profit (loss) for the period | 9904 | €29,713 | €33,728 | +€4,015 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,713 | €33,728 | +€4,015 | +13.5% |
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 25 October 2026 via checked.be.