KRISTINE VAN HOOL: 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.
KRISTINE VAN HOOL
Largest movements
- Tangible fixed assets -€141,210
down €141,210 (-2.9%), from €4.9m to €4.8m
of which Land and buildings: -€112,354
- Cash -€136,083
down €136,083 (-75.2%), from €180,883 to €44,800
mainly Receivables within one year (-€122,047) and Net result for the year (-€107,440)
- Receivables within one year +€122,047
up €122,047 (+60.4%), from €201,916 to €323,963
of which Other amounts receivable: +€118,755
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€7,351
down €7,351 (-10.5%), from €70,186 to €62,835
- Depreciation -€1,112
down €1,112 (-0.8%), from €143,884 to €142,772
- Taxes -€774
down €774 (-41.7%), from €1,857 to €1,083
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 | €9,051,335 | €8,920,288 | -€131,047 | -1.4% |
| Fixed assets | 21/28 | €8,668,536 | €8,529,226 | -€139,310 | -1.6% |
| Tangible fixed assets | 22/27 | €4,932,870 | €4,791,660 | -€141,210 | -2.9% |
| Land and buildings | 22 | €4,871,160 | €4,758,806 | -€112,354 | -2.3% |
| Plant, machinery and equipment | 23 | €3,155 | €1,597 | -€1,559 | -49.4% |
| Furniture and vehicles | 24 | €43,571 | €16,274 | -€27,298 | -62.7% |
| Assets under construction and advance payments | 27 | €14,983 | €14,983 | = | 0.0% |
| Financial fixed assets | 28 | €3,735,666 | €3,737,566 | +€1,900 | +0.1% |
| Current assets | 29/58 | €382,799 | €391,062 | +€8,263 | +2.2% |
| Amounts receivable within one year | 40/41 | €201,916 | €323,963 | +€122,047 | +60.4% |
| Trade receivables | 40 | €105,724 | €109,017 | +€3,292 | +3.1% |
| Other amounts receivable | 41 | €96,192 | €214,947 | +€118,755 | +123% |
| Cash at bank and in hand | 54/58 | €180,883 | €44,800 | -€136,083 | -75.2% |
| Deferred charges and accrued income | 490/1 | - | €22,298 | +€22,298 | |
| Total equity and liabilities | 10/49 | €9,051,335 | €8,920,288 | -€131,047 | -1.4% |
| Equity | 10/15 | €2,058,241 | €1,950,801 | -€107,440 | -5.2% |
| Contributions | 10/11 | €3,141,213 | €3,141,213 | +€0 | 0.0% |
| Reserves | 13 | €590,966 | €570,588 | -€20,378 | -3.4% |
| Tax-exempt reserves | 132 | €590,966 | €570,588 | -€20,378 | -3.4% |
| Profit (loss) carried forward | 14 | -€1,673,939 | -€1,761,000 | -€87,061 | -5.2% |
| Provisions and deferred taxes | 16 | €196,989 | €190,196 | -€6,793 | -3.4% |
| Deferred taxes | 168 | €196,989 | €190,196 | -€6,793 | -3.4% |
| Amounts payable | 17/49 | €6,796,106 | €6,779,291 | -€16,815 | -0.2% |
| Amounts payable after more than one year | 17 | €6,397,058 | €6,372,690 | -€24,369 | -0.4% |
| Financial debts | 170/4 | €1,340,000 | €950,000 | -€390,000 | -29.1% |
| Other amounts payable | 178/9 | €5,057,058 | €5,422,690 | +€365,631 | +7.2% |
| Amounts payable within one year | 42/48 | €396,849 | €406,444 | +€9,595 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €390,000 | €390,000 | = | 0.0% |
| Trade debts | 44 | €2,743 | €12,278 | +€9,536 | +348% |
| Suppliers | 440/4 | €2,743 | €12,278 | +€9,536 | +348% |
| Taxes, remuneration and social security | 45 | €4,106 | €4,166 | +€60 | +1.5% |
| Taxes | 450/3 | €4,106 | €4,166 | +€60 | +1.5% |
| Accrued charges and deferred income | 492/3 | €2,199 | €157 | -€2,042 | -92.9% |
| Non-recurring operating income | 76A | €2,584 | €0 | -€2,584 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,884 | €142,772 | -€1,112 | -0.8% |
| Other operating charges | 640/8 | €5,930 | €6,333 | +€404 | +6.8% |
| Gross operating margin | 9900 | €70,186 | €62,835 | -€7,351 | -10.5% |
| Operating profit (loss) | 9901 | -€79,627 | -€86,270 | -€6,643 | -8.3% |
| Financial income | 75/76B | €3,262 | €3,031 | -€230 | -7.1% |
| Recurring financial income | 75 | €3,262 | €3,031 | -€230 | -7.1% |
| Financial charges | 65/66B | €30,336 | €29,910 | -€426 | -1.4% |
| Recurring financial charges | 65 | €30,336 | €29,910 | -€426 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€106,701 | -€113,149 | -€6,448 | -6.0% |
| Transfer from deferred taxes | 780 | €6,793 | €6,793 | +€0 | 0.0% |
| Income taxes | 67/77 | €1,857 | €1,083 | -€774 | -41.7% |
| Profit (loss) for the period | 9904 | -€101,766 | -€107,440 | -€5,674 | -5.6% |
| Transfer from tax-exempt reserves | 789 | €20,378 | €20,378 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,387 | -€87,061 | -€5,674 | -7.0% |
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 31 October 2026 via checked.be.