Lindsay Beeckman: 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.
Lindsay Beeckman
Largest movements
- Receivables within one year -€8,160
down €8,160 (-43.8%), from €18,649 to €10,489
of which Other amounts receivable: -€6,498
- Deferred charges and accrued income +€2,752
up €2,752 (+282%), from €977 to €3,729
- Tangible fixed assets +€1,209
up €1,209 (+14.4%), from €8,395 to €9,604
of which Other tangible fixed assets: +€1,942
- Cash +€700
up €700 (+11.8%), from €5,937 to €6,637
mainly Receivables within one year (+€8,160) and Depreciation (+€1,716)
- Tax, wage and social debts -€4,914
down €4,914 (-78.2%), from €6,284 to €1,370
- Reserves +€1,548
up €1,548 (+7.0%), from €22,058 to €23,605
- Gross operating margin -€26,397
down €26,397 (-81.5%), from €32,389 to €5,992
- Taxes -€5,529
down €5,529 (-86.4%), from €6,398 to €869
- Financial charges -€1,393
down €1,393 (-92.1%), from €1,513 to €120
- Other operating charges +€617
up €617 (+54.9%), from €1,123 to €1,739
- Depreciation +€399
up €399 (+30.3%), from €1,317 to €1,716
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 | €35,313 | €31,827 | -€3,486 | -9.9% |
| Formation expenses | 20 | €930 | €692 | -€237 | -25.5% |
| Fixed assets | 21/28 | €8,395 | €9,604 | +€1,209 | +14.4% |
| Tangible fixed assets | 22/27 | €8,395 | €9,604 | +€1,209 | +14.4% |
| Plant, machinery and equipment | 23 | €3,088 | €2,355 | -€733 | -23.7% |
| Other tangible fixed assets | 26 | €5,307 | €7,249 | +€1,942 | +36.6% |
| Current assets | 29/58 | €25,988 | €21,531 | -€4,457 | -17.2% |
| Stocks and contracts in progress | 3 | €426 | €676 | +€250 | +58.8% |
| Stocks | 30/36 | €426 | €676 | +€250 | +58.8% |
| Amounts receivable within one year | 40/41 | €18,649 | €10,489 | -€8,160 | -43.8% |
| Trade receivables | 40 | €2,751 | €1,089 | -€1,662 | -60.4% |
| Other amounts receivable | 41 | €15,897 | €9,400 | -€6,498 | -40.9% |
| Cash at bank and in hand | 54/58 | €5,937 | €6,637 | +€700 | +11.8% |
| Deferred charges and accrued income | 490/1 | €977 | €3,729 | +€2,752 | +282% |
| Total equity and liabilities | 10/49 | €35,313 | €31,827 | -€3,486 | -9.9% |
| Equity | 10/15 | €24,558 | €26,105 | +€1,548 | +6.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €22,058 | €23,605 | +€1,548 | +7.0% |
| Distributable reserves | 133 | €22,058 | €23,605 | +€1,548 | +7.0% |
| Amounts payable | 17/49 | €10,755 | €5,722 | -€5,033 | -46.8% |
| Amounts payable within one year | 42/48 | €10,005 | €5,218 | -€4,787 | -47.8% |
| Trade debts | 44 | €3,721 | €3,848 | +€127 | +3.4% |
| Suppliers | 440/4 | €3,721 | €3,848 | +€127 | +3.4% |
| Taxes, remuneration and social security | 45 | €6,284 | €1,370 | -€4,914 | -78.2% |
| Taxes | 450/3 | €6,284 | €1,370 | -€4,914 | -78.2% |
| Accrued charges and deferred income | 492/3 | €750 | €504 | -€246 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,317 | €1,716 | +€399 | +30.3% |
| Other operating charges | 640/8 | €1,123 | €1,739 | +€617 | +54.9% |
| Gross operating margin | 9900 | €32,389 | €5,992 | -€26,397 | -81.5% |
| Operating profit (loss) | 9901 | €29,949 | €2,536 | -€27,413 | -91.5% |
| Financial income | 75/76B | €19 | €0 | -€19 | -99.1% |
| Recurring financial income | 75 | €19 | €0 | -€19 | -99.1% |
| Financial charges | 65/66B | €1,513 | €120 | -€1,393 | -92.1% |
| Recurring financial charges | 65 | €1,513 | €120 | -€1,393 | -92.1% |
| Profit (loss) for the period before taxes | 9903 | €28,455 | €2,417 | -€26,039 | -91.5% |
| Income taxes | 67/77 | €6,398 | €869 | -€5,529 | -86.4% |
| Profit (loss) for the period | 9904 | €22,058 | €1,548 | -€20,510 | -93.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,058 | €1,548 | -€20,510 | -93.0% |
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 28 October 2026 via checked.be.