Laure Hendrickx: 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.
Laure Hendrickx
Largest movements
- Cash +€71,396
up €71,396 (+125%), from €57,292 to €128,687
mainly Net result for the year (+€73,727) and Other debts (+€1,704)
- Receivables within one year +€1,427
new in 2025: €1,427
- Profit (loss) carried forward +€73,727
new in 2025: €73,727
- Tax, wage and social debts -€2,688
no longer reported in 2025 (was €2,688)
- Other debts +€1,704
up €1,704 (+21.5%), from €7,906 to €9,610
- Gross operating margin +€32,044
up €32,044 (+52.9%), from €60,559 to €92,604
- Taxes +€2,134
up €2,134 (+12.8%), from €16,688 to €18,823
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 | €58,718 | €131,561 | +€72,843 | +124% |
| Current assets | 29/58 | €58,718 | €131,561 | +€72,843 | +124% |
| Amounts receivable within one year | 40/41 | - | €1,427 | +€1,427 | |
| Other amounts receivable | 41 | - | €1,427 | +€1,427 | |
| Cash at bank and in hand | 54/58 | €57,292 | €128,687 | +€71,396 | +125% |
| Deferred charges and accrued income | 490/1 | €1,426 | €1,446 | +€20 | +1.4% |
| Total equity and liabilities | 10/49 | €58,718 | €131,561 | +€72,843 | +124% |
| Equity | 10/15 | €46,798 | €120,525 | +€73,727 | +158% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €44,798 | €44,798 | = | 0.0% |
| Distributable reserves | 133 | €44,798 | €44,798 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €73,727 | +€73,727 | |
| Amounts payable | 17/49 | €11,920 | €11,036 | -€884 | -7.4% |
| Amounts payable within one year | 42/48 | €11,920 | €11,036 | -€884 | -7.4% |
| Trade debts | 44 | €1,325 | €1,426 | +€101 | +7.6% |
| Suppliers | 440/4 | €1,325 | €1,426 | +€101 | +7.6% |
| Taxes, remuneration and social security | 45 | €2,688 | - | -€2,688 | |
| Taxes | 450/3 | €2,688 | - | -€2,688 | |
| Other amounts payable | 47/48 | €7,906 | €9,610 | +€1,704 | +21.5% |
| Gross operating margin | 9900 | €60,559 | €92,604 | +€32,044 | +52.9% |
| Operating profit (loss) | 9901 | €60,559 | €92,604 | +€32,044 | +52.9% |
| Financial charges | 65/66B | €44 | €54 | +€11 | +24.4% |
| Recurring financial charges | 65 | €44 | €54 | +€11 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | €60,516 | €92,550 | +€32,034 | +52.9% |
| Income taxes | 67/77 | €16,688 | €18,823 | +€2,134 | +12.8% |
| Profit (loss) for the period | 9904 | €43,828 | €73,727 | +€29,899 | +68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,828 | €73,727 | +€29,899 | +68.2% |
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 27 October 2026 via checked.be.