Lise Carpentier: 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.
Lise Carpentier
Largest movements
- Intangible fixed assets -€14,286
down €14,286 (-32.9%), from €43,366 to €29,080
- Tangible fixed assets +€11,844
new in 2025: €11,844
of which Other tangible fixed assets: +€10,657
- Receivables within one year -€6,798
down €6,798 (-28.7%), from €23,699 to €16,901
of which Trade receivables: -€7,798
- Cash +€6,003
up €6,003 (+1,515%), from €396 to €6,399
mainly Depreciation (+€14,959) and Receivables within one year (+€6,798)
- Debts after one year -€6,516
down €6,516 (-38.4%), from €16,962 to €10,446
- Profit (loss) carried forward +€2,170
up €2,170 (+5.3%), from -€40,855 to -€38,684
- Gross operating margin +€20,590
up €20,590, from -€2,456 to €18,134
- Depreciation +€649
up €649 (+4.5%), from €14,310 to €14,959
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 | €67,590 | €64,356 | -€3,234 | -4.8% |
| Fixed assets | 21/28 | €43,366 | €40,925 | -€2,441 | -5.6% |
| Intangible fixed assets | 21 | €43,366 | €29,080 | -€14,286 | -32.9% |
| Tangible fixed assets | 22/27 | - | €11,844 | +€11,844 | |
| Furniture and vehicles | 24 | - | €1,187 | +€1,187 | |
| Other tangible fixed assets | 26 | - | €10,657 | +€10,657 | |
| Current assets | 29/58 | €24,224 | €23,431 | -€793 | -3.3% |
| Amounts receivable within one year | 40/41 | €23,699 | €16,901 | -€6,798 | -28.7% |
| Trade receivables | 40 | €13,699 | €5,901 | -€7,798 | -56.9% |
| Other amounts receivable | 41 | €10,000 | €11,000 | +€1,000 | +10.0% |
| Cash at bank and in hand | 54/58 | €396 | €6,399 | +€6,003 | +1,515% |
| Deferred charges and accrued income | 490/1 | €129 | €131 | +€3 | +2.1% |
| Total equity and liabilities | 10/49 | €67,590 | €64,356 | -€3,234 | -4.8% |
| Equity | 10/15 | -€38,855 | -€36,684 | +€2,170 | +5.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,855 | -€38,684 | +€2,170 | +5.3% |
| Amounts payable | 17/49 | €106,445 | €101,040 | -€5,404 | -5.1% |
| Amounts payable after more than one year | 17 | €16,962 | €10,446 | -€6,516 | -38.4% |
| Financial debts | 170/4 | €16,962 | €10,446 | -€6,516 | -38.4% |
| Amounts payable within one year | 42/48 | €89,483 | €90,594 | +€1,112 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €6,453 | €6,516 | +€62 | +1.0% |
| Trade debts | 44 | €1,249 | €1,700 | +€451 | +36.1% |
| Suppliers | 440/4 | €1,249 | €1,700 | +€451 | +36.1% |
| Other amounts payable | 47/48 | €81,780 | €82,378 | +€598 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,310 | €14,959 | +€649 | +4.5% |
| Other operating charges | 640/8 | €408 | €400 | -€8 | -1.9% |
| Gross operating margin | 9900 | -€2,456 | €18,134 | +€20,590 | |
| Operating profit (loss) | 9901 | -€17,173 | €2,776 | +€19,949 | |
| Financial income | 75/76B | €0 | €29 | +€29 | +8,909% |
| Recurring financial income | 75 | €0 | €29 | +€29 | +8,909% |
| Financial charges | 65/66B | €625 | €634 | +€9 | +1.5% |
| Recurring financial charges | 65 | €625 | €634 | +€9 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,798 | €2,170 | +€19,968 | |
| Profit (loss) for the period | 9904 | -€17,798 | €2,170 | +€19,968 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,798 | €2,170 | +€19,968 |
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 18 October 2026 via checked.be.