Liesbeth De Bruyne: 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.
Liesbeth De Bruyne
Largest movements
- Cash +€60,948
up €60,948 (+162%), from €37,572 to €98,520
mainly Net result for the year (+€59,459) and Tax, wage and social debts (+€16,420)
- Tangible fixed assets +€10,352
up €10,352 (+2,049%), from €505 to €10,857
of which Other tangible fixed assets: +€10,534
- Receivables within one year +€1,611
new in 2025: €1,611
- Deferred charges and accrued income +€1,249
up €1,249 (+55.8%), from €2,241 to €3,490
- Reserves +€59,459
up €59,459 (+536%), from €11,087 to €70,546
- Tax, wage and social debts +€16,420
up €16,420 (+158%), from €10,394 to €26,814
- Trade debts -€2,397
down €2,397 (-66.4%), from €3,610 to €1,213
- Gross operating margin +€63,834
up €63,834 (+438%), from €14,574 to €78,407
- Taxes +€12,379
up €12,379 (+450%), from €2,750 to €15,129
- Financial charges +€2,106
up €2,106 (+304%), from €694 to €2,800
- Depreciation +€1,111
up €1,111 (+2,597%), from €43 to €1,153
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 | €40,318 | €114,478 | +€74,160 | +184% |
| Fixed assets | 21/28 | €505 | €10,857 | +€10,352 | +2,049% |
| Tangible fixed assets | 22/27 | €505 | €10,857 | +€10,352 | +2,049% |
| Plant, machinery and equipment | 23 | €505 | €323 | -€183 | -36.2% |
| Other tangible fixed assets | 26 | - | €10,534 | +€10,534 | |
| Current assets | 29/58 | €39,813 | €103,621 | +€63,808 | +160% |
| Amounts receivable within one year | 40/41 | - | €1,611 | +€1,611 | |
| Other amounts receivable | 41 | - | €1,611 | +€1,611 | |
| Cash at bank and in hand | 54/58 | €37,572 | €98,520 | +€60,948 | +162% |
| Deferred charges and accrued income | 490/1 | €2,241 | €3,490 | +€1,249 | +55.8% |
| Total equity and liabilities | 10/49 | €40,318 | €114,478 | +€74,160 | +184% |
| Equity | 10/15 | €26,087 | €85,546 | +€59,459 | +228% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €11,087 | €70,546 | +€59,459 | +536% |
| Distributable reserves | 133 | €11,087 | €70,546 | +€59,459 | +536% |
| Amounts payable | 17/49 | €14,231 | €28,931 | +€14,700 | +103% |
| Amounts payable within one year | 42/48 | €14,006 | €28,027 | +€14,021 | +100% |
| Trade debts | 44 | €3,610 | €1,213 | -€2,397 | -66.4% |
| Suppliers | 440/4 | €3,610 | €1,213 | -€2,397 | -66.4% |
| Taxes, remuneration and social security | 45 | €10,394 | €26,814 | +€16,420 | +158% |
| Taxes | 450/3 | €10,394 | €26,814 | +€16,420 | +158% |
| Other amounts payable | 47/48 | €2 | - | -€2 | |
| Accrued charges and deferred income | 492/3 | €225 | €904 | +€679 | +302% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43 | €1,153 | +€1,111 | +2,597% |
| Other operating charges | 640/8 | - | €53 | +€53 | |
| Gross operating margin | 9900 | €14,574 | €78,407 | +€63,834 | +438% |
| Operating profit (loss) | 9901 | €14,531 | €77,201 | +€62,670 | +431% |
| Financial income | 75/76B | - | €187 | +€187 | |
| Recurring financial income | 75 | - | €187 | +€187 | |
| Financial charges | 65/66B | €694 | €2,800 | +€2,106 | +304% |
| Recurring financial charges | 65 | €694 | €2,800 | +€2,106 | +304% |
| Profit (loss) for the period before taxes | 9903 | €13,837 | €74,588 | +€60,751 | +439% |
| Income taxes | 67/77 | €2,750 | €15,129 | +€12,379 | +450% |
| Profit (loss) for the period | 9904 | €11,087 | €59,459 | +€48,372 | +436% |
| Profit (loss) for the period to be appropriated | 9905 | €11,087 | €59,459 | +€48,372 | +436% |
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 21 October 2026 via checked.be.