Liesbeth Rogiers: 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 Rogiers
Largest movements
- Cash +€64,573
up €64,573 (+223%), from €29,006 to €93,579
mainly Net result for the year (+€46,345) and Tax, wage and social debts (+€12,675)
- Current investments -€5,407
down €5,407 (-15.4%), from €35,000 to €29,593
- Reserves +€46,345
up €46,345 (+101%), from €45,934 to €92,279
- Tax, wage and social debts +€12,675
up €12,675 (+183%), from €6,908 to €19,584
- Trade debts -€1,867
down €1,867 (-45.4%), from €4,109 to €2,242
- Gross operating margin +€7,064
up €7,064 (+12.9%), from €54,927 to €61,991
- Taxes -€2,193
down €2,193 (-14.8%), from €14,834 to €12,641
- Financial income +€1,604
up €1,604 (+6,454%), from €25 to €1,629
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 | €72,035 | €129,105 | +€57,069 | +79.2% |
| Fixed assets | 21/28 | €1,405 | €836 | -€568 | -40.5% |
| Tangible fixed assets | 22/27 | €1,405 | €836 | -€568 | -40.5% |
| Plant, machinery and equipment | 23 | €1,405 | €836 | -€568 | -40.5% |
| Current assets | 29/58 | €70,631 | €128,268 | +€57,637 | +81.6% |
| Amounts receivable within one year | 40/41 | €830 | €146 | -€684 | -82.4% |
| Other amounts receivable | 41 | €830 | €146 | -€684 | -82.4% |
| Current investments | 50/53 | €35,000 | €29,593 | -€5,407 | -15.4% |
| Cash at bank and in hand | 54/58 | €29,006 | €93,579 | +€64,573 | +223% |
| Deferred charges and accrued income | 490/1 | €5,795 | €4,951 | -€845 | -14.6% |
| Total equity and liabilities | 10/49 | €72,035 | €129,105 | +€57,069 | +79.2% |
| Equity | 10/15 | €60,934 | €107,279 | +€46,345 | +76.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €45,934 | €92,279 | +€46,345 | +101% |
| Distributable reserves | 133 | €45,934 | €92,279 | +€46,345 | +101% |
| Amounts payable | 17/49 | €11,102 | €21,826 | +€10,724 | +96.6% |
| Amounts payable within one year | 42/48 | €11,018 | €21,826 | +€10,808 | +98.1% |
| Trade debts | 44 | €4,109 | €2,242 | -€1,867 | -45.4% |
| Suppliers | 440/4 | €4,109 | €2,242 | -€1,867 | -45.4% |
| Taxes, remuneration and social security | 45 | €6,908 | €19,584 | +€12,675 | +183% |
| Taxes | 450/3 | €6,908 | €19,584 | +€12,675 | +183% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €84 | €0 | -€84 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €300 | €568 | +€268 | +89.2% |
| Other operating charges | 640/8 | €0 | €576 | +€576 | |
| Gross operating margin | 9900 | €54,927 | €61,991 | +€7,064 | +12.9% |
| Operating profit (loss) | 9901 | €54,627 | €60,846 | +€6,220 | +11.4% |
| Financial income | 75/76B | €25 | €1,629 | +€1,604 | +6,454% |
| Recurring financial income | 75 | €25 | €1,629 | +€1,604 | +6,454% |
| Financial charges | 65/66B | €2,907 | €3,489 | +€582 | +20.0% |
| Recurring financial charges | 65 | €2,907 | €3,489 | +€582 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €51,745 | €58,986 | +€7,241 | +14.0% |
| Income taxes | 67/77 | €14,834 | €12,641 | -€2,193 | -14.8% |
| Profit (loss) for the period | 9904 | €36,910 | €46,345 | +€9,434 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,910 | €46,345 | +€9,434 | +25.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.