LIESBETH HOFMANS: 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 HOFMANS
Largest movements
- Receivables within one year -€19,423
down €19,423 (-17.0%), from €114,563 to €95,140
of which Trade receivables: -€19,520
- Tangible fixed assets +€9,374
up €9,374 (+407%), from €2,300 to €11,675
- Cash +€2,754
up €2,754 (+41.9%), from €6,570 to €9,324
mainly Receivables within one year (+€19,423) and Tax, wage and social debts (+€4,499)
- Trade debts -€10,233
down €10,233 (-56.2%), from €18,195 to €7,962
- Tax, wage and social debts +€4,499
up €4,499 (+1,164%), from €387 to €4,886
- Gross operating margin -€19,817
down €19,817 (-97.2%), from €20,381 to €563
- Depreciation +€1,890
up €1,890 (+198%), from €954 to €2,844
- Financial charges +€1,336
up €1,336 (+84.2%), from €1,587 to €2,922
- Other operating charges -€479
down €479 (-47.1%), from €1,018 to €539
- Financial income +€383
up €383 (+7.2%), from €5,302 to €5,685
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 | €129,412 | €123,401 | -€6,011 | -4.6% |
| Fixed assets | 21/28 | €2,300 | €11,675 | +€9,374 | +407% |
| Tangible fixed assets | 22/27 | €2,300 | €11,675 | +€9,374 | +407% |
| Furniture and vehicles | 24 | €2,300 | €11,675 | +€9,374 | +407% |
| Current assets | 29/58 | €127,112 | €111,726 | -€15,386 | -12.1% |
| Amounts receivable within one year | 40/41 | €114,563 | €95,140 | -€19,423 | -17.0% |
| Trade receivables | 40 | €34,676 | €15,157 | -€19,520 | -56.3% |
| Other amounts receivable | 41 | €79,887 | €79,983 | +€97 | +0.1% |
| Cash at bank and in hand | 54/58 | €6,570 | €9,324 | +€2,754 | +41.9% |
| Deferred charges and accrued income | 490/1 | €5,979 | €7,262 | +€1,283 | +21.5% |
| Total equity and liabilities | 10/49 | €129,412 | €123,401 | -€6,011 | -4.6% |
| Equity | 10/15 | €110,825 | €110,553 | -€272 | -0.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €16,302 | €16,302 | = | 0.0% |
| Distributable reserves | 133 | €16,302 | €16,302 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,524 | €74,252 | -€272 | -0.4% |
| Amounts payable | 17/49 | €18,587 | €12,847 | -€5,739 | -30.9% |
| Amounts payable within one year | 42/48 | €18,587 | €12,847 | -€5,739 | -30.9% |
| Financial debts | 43 | €6 | €0 | -€6 | -100% |
| Credit institutions | 430/8 | €6 | €0 | -€6 | -100% |
| Trade debts | 44 | €18,195 | €7,962 | -€10,233 | -56.2% |
| Suppliers | 440/4 | €18,195 | €7,962 | -€10,233 | -56.2% |
| Taxes, remuneration and social security | 45 | €387 | €4,886 | +€4,499 | +1,164% |
| Taxes | 450/3 | €387 | €4,886 | +€4,499 | +1,164% |
| Non-recurring operating income | 76A | €2,772 | €0 | -€2,772 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €954 | €2,844 | +€1,890 | +198% |
| Other operating charges | 640/8 | €1,018 | €539 | -€479 | -47.1% |
| Gross operating margin | 9900 | €20,381 | €563 | -€19,817 | -97.2% |
| Operating profit (loss) | 9901 | €18,409 | -€2,820 | -€21,229 | |
| Financial income | 75/76B | €5,302 | €5,685 | +€383 | +7.2% |
| Recurring financial income | 75 | €5,302 | €5,685 | +€383 | +7.2% |
| Financial charges | 65/66B | €1,587 | €2,922 | +€1,336 | +84.2% |
| Recurring financial charges | 65 | €1,587 | €2,922 | +€1,336 | +84.2% |
| Profit (loss) for the period before taxes | 9903 | €22,125 | -€57 | -€22,182 | |
| Income taxes | 67/77 | €333 | €215 | -€118 | -35.4% |
| Profit (loss) for the period | 9904 | €21,792 | -€272 | -€22,064 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,792 | -€272 | -€22,064 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.