Laura De Coster: 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.
Laura De Coster
Largest movements
- Receivables within one year +€22,421
up €22,421 (+133.0%), from €16,856 to €39,276
of which Trade receivables: +€16,608
- Deferred charges and accrued income -€6,461
no longer reported in 2025 (was €6,461)
- Stocks and contracts -€6,000
no longer reported in 2025 (was €6,000)
- Cash +€1,640
up €1,640 (+21.9%), from €7,496 to €9,136
mainly Net result for the year (+€14,145) and Deferred charges and accrued income (+€6,461)
- Tangible fixed assets -€1,471
down €1,471 (-65.6%), from €2,243 to €772
- Profit (loss) carried forward +€14,145
up €14,145 (+60.0%), from €23,584 to €37,729
- Tax, wage and social debts -€2,028
down €2,028 (-18.9%), from €10,759 to €8,730
- Trade debts -€1,987
down €1,987 (-89.8%), from €2,213 to €226
- Taxes +€6,440
up €6,440 (+562.4%), from €1,145 to €7,585
- Gross operating margin +€5,703
up €5,703 (+30.9%), from €18,439 to €24,142
- Other operating charges +€1,067
up €1,067 (+1672.0%), from €64 to €1,131
- Depreciation -€608
down €608 (-29.3%), from €2,079 to €1,471
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 | €39,055 | €49,184 | +€10,129 | +25.9% |
| Fixed assets | 21/28 | €2,243 | €772 | -€1,471 | -65.6% |
| Tangible fixed assets | 22/27 | €2,243 | €772 | -€1,471 | -65.6% |
| Plant, machinery and equipment | 23 | €691 | €83 | -€608 | -87.9% |
| Furniture and vehicles | 24 | €691 | - | -€691 | |
| Other tangible fixed assets | 26 | €861 | €689 | -€172 | -20.0% |
| Current assets | 29/58 | €36,812 | €48,412 | +€11,600 | +31.5% |
| Stocks and contracts in progress | 3 | €6,000 | - | -€6,000 | |
| Contracts in progress | 37 | €6,000 | - | -€6,000 | |
| Amounts receivable within one year | 40/41 | €16,856 | €39,276 | +€22,421 | +133.0% |
| Trade receivables | 40 | €16,856 | €33,464 | +€16,608 | +98.5% |
| Other amounts receivable | 41 | - | €5,812 | +€5,812 | |
| Cash at bank and in hand | 54/58 | €7,496 | €9,136 | +€1,640 | +21.9% |
| Deferred charges and accrued income | 490/1 | €6,461 | - | -€6,461 | |
| Total equity and liabilities | 10/49 | €39,055 | €49,184 | +€10,129 | +25.9% |
| Equity | 10/15 | €26,084 | €40,229 | +€14,145 | +54.2% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,584 | €37,729 | +€14,145 | +60.0% |
| Amounts payable | 17/49 | €12,972 | €8,956 | -€4,016 | -31.0% |
| Amounts payable within one year | 42/48 | €12,972 | €8,956 | -€4,016 | -31.0% |
| Trade debts | 44 | €2,213 | €226 | -€1,987 | -89.8% |
| Suppliers | 440/4 | €2,213 | €226 | -€1,987 | -89.8% |
| Taxes, remuneration and social security | 45 | €10,759 | €8,730 | -€2,028 | -18.9% |
| Taxes | 450/3 | €10,759 | €8,730 | -€2,028 | -18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,079 | €1,471 | -€608 | -29.3% |
| Other operating charges | 640/8 | €64 | €1,131 | +€1,067 | +1672.0% |
| Non-recurring operating charges | 66A | - | -€284 | -€284 | |
| Gross operating margin | 9900 | €18,439 | €24,142 | +€5,703 | +30.9% |
| Operating profit (loss) | 9901 | €16,296 | €21,825 | +€5,529 | +33.9% |
| Financial charges | 65/66B | €45 | €95 | +€50 | +111.2% |
| Recurring financial charges | 65 | €45 | €95 | +€50 | +111.2% |
| Profit (loss) for the period before taxes | 9903 | €16,251 | €21,730 | +€5,479 | +33.7% |
| Income taxes | 67/77 | €1,145 | €7,585 | +€6,440 | +562.4% |
| Profit (loss) for the period | 9904 | €15,106 | €14,145 | -€961 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,106 | €14,145 | -€961 | -6.4% |
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 12 October 2026 via checked.be.