LAURENT DESSEAUX: 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.
LAURENT DESSEAUX
Largest movements
- Cash -€206,391
down €206,391 (-92.6%), from €222,792 to €16,401
mainly Contributions, distributions and other (-€375,934) and Other debts (-€301,283)
- Other debts -€301,283
down €301,283 (-42.5%), from €708,512 to €407,228
- Debts after one year +€100,000
new in 2025: €100,000
- Gross operating margin -€17,373
down €17,373 (-16.4%), from €105,768 to €88,395
- Taxes -€4,099
down €4,099 (-15.4%), from €26,572 to €22,473
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 | €717,210 | €517,970 | -€199,240 | -27.8% |
| Fixed assets | 21/28 | €479,501 | €482,109 | +€2,608 | +0.5% |
| Tangible fixed assets | 22/27 | €1,371 | €3,979 | +€2,608 | +190% |
| Furniture and vehicles | 24 | €1,371 | €3,979 | +€2,608 | +190% |
| Financial fixed assets | 28 | €478,130 | €478,130 | = | 0.0% |
| Current assets | 29/58 | €237,709 | €35,861 | -€201,848 | -84.9% |
| Amounts receivable within one year | 40/41 | €14,297 | €19,056 | +€4,759 | +33.3% |
| Trade receivables | 40 | €8,364 | €11,601 | +€3,237 | +38.7% |
| Other amounts receivable | 41 | €5,933 | €7,454 | +€1,522 | +25.6% |
| Cash at bank and in hand | 54/58 | €222,792 | €16,401 | -€206,391 | -92.6% |
| Deferred charges and accrued income | 490/1 | €620 | €404 | -€216 | -34.8% |
| Total equity and liabilities | 10/49 | €717,210 | €517,970 | -€199,240 | -27.8% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable | 17/49 | €716,210 | €516,970 | -€199,240 | -27.8% |
| Amounts payable after more than one year | 17 | - | €100,000 | +€100,000 | |
| Other amounts payable | 178/9 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €716,210 | €416,970 | -€299,240 | -41.8% |
| Trade debts | 44 | €634 | €1,498 | +€864 | +136% |
| Suppliers | 440/4 | €634 | €1,498 | +€864 | +136% |
| Taxes, remuneration and social security | 45 | €7,064 | €8,243 | +€1,179 | +16.7% |
| Taxes | 450/3 | €7,064 | €8,243 | +€1,179 | +16.7% |
| Other amounts payable | 47/48 | €708,512 | €407,228 | -€301,283 | -42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,370 | €1,091 | -€278 | -20.3% |
| Other operating charges | 640/8 | €725 | €751 | +€27 | +3.7% |
| Non-recurring operating charges | 66A | - | €51 | +€51 | |
| Gross operating margin | 9900 | €105,768 | €88,395 | -€17,373 | -16.4% |
| Operating profit (loss) | 9901 | €103,674 | €86,501 | -€17,173 | -16.6% |
| Financial income | 75/76B | €312,000 | €312,000 | = | 0.0% |
| Recurring financial income | 75 | €312,000 | €312,000 | = | 0.0% |
| Financial charges | 65/66B | €123 | €94 | -€29 | -23.4% |
| Recurring financial charges | 65 | €123 | €94 | -€29 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €415,551 | €398,407 | -€17,144 | -4.1% |
| Income taxes | 67/77 | €26,572 | €22,473 | -€4,099 | -15.4% |
| Profit (loss) for the period | 9904 | €388,979 | €375,934 | -€13,045 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €388,979 | €375,934 | -€13,045 | -3.4% |
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 30 October 2026 via checked.be.