Ludivine COLLET: what changed
Ludivine COLLET
Largest movements
- Intangible fixed assets -€17,900
no longer reported in 2025 (was €17,900)
- Tangible fixed assets -€8,795
down €8,795 (-51.4%), from €17,106 to €8,311
- Receivables within one year -€8,313
down €8,313 (-32.8%), from €25,340 to €17,027
of which Other amounts receivable: -€6,345
- Receivables after one year +€7,500
new in 2025: €7,500
- Cash -€1,702
down €1,702 (-33.8%), from €5,029 to €3,327
mainly Contributions, distributions and other (-€13,500) and Other debts (-€12,033)
- Other debts -€12,033
down €12,033 (-41.5%), from €29,000 to €16,967
- Debts after one year -€6,272
no longer reported in 2025 (was €6,272)
- Tax, wage and social debts -€5,591
no longer reported in 2025 (was €5,591)
- Current portion of long-term debt -€5,308
no longer reported in 2025 (was €5,308)
- Gross operating margin -€7,242
down €7,242 (-12.8%), from €56,788 to €49,545
- Taxes -€1,610
down €1,610 (-15.9%), from €10,141 to €8,531
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,825 | €36,570 | -€29,255 | -44.4% |
| Fixed assets | 21/28 | €35,006 | €8,311 | -€26,695 | -76.3% |
| Intangible fixed assets | 21 | €17,900 | - | -€17,900 | |
| Tangible fixed assets | 22/27 | €17,106 | €8,311 | -€8,795 | -51.4% |
| Furniture and vehicles | 24 | €17,106 | €8,311 | -€8,795 | -51.4% |
| Current assets | 29/58 | €30,819 | €28,259 | -€2,560 | -8.3% |
| Amounts receivable after more than one year | 29 | - | €7,500 | +€7,500 | |
| Other amounts receivable | 291 | - | €7,500 | +€7,500 | |
| Amounts receivable within one year | 40/41 | €25,340 | €17,027 | -€8,313 | -32.8% |
| Trade receivables | 40 | €13,995 | €12,027 | -€1,968 | -14.1% |
| Other amounts receivable | 41 | €11,345 | €5,000 | -€6,345 | -55.9% |
| Cash at bank and in hand | 54/58 | €5,029 | €3,327 | -€1,702 | -33.8% |
| Deferred charges and accrued income | 490/1 | €450 | €405 | -€45 | -10.0% |
| Total equity and liabilities | 10/49 | €65,825 | €36,570 | -€29,255 | -44.4% |
| Equity | 10/15 | €19,097 | €18,607 | -€490 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €497 | €7 | -€490 | -98.6% |
| Amounts payable | 17/49 | €46,728 | €17,963 | -€28,765 | -61.6% |
| Amounts payable after more than one year | 17 | €6,272 | - | -€6,272 | |
| Financial debts | 170/4 | €6,272 | - | -€6,272 | |
| Amounts payable within one year | 42/48 | €40,445 | €17,963 | -€22,482 | -55.6% |
| Current portion of amounts payable after more than one year | 42 | €5,308 | - | -€5,308 | |
| Trade debts | 44 | €546 | €996 | +€450 | +82.4% |
| Suppliers | 440/4 | €546 | €996 | +€450 | +82.4% |
| Taxes, remuneration and social security | 45 | €5,591 | - | -€5,591 | |
| Taxes | 450/3 | €5,591 | - | -€5,591 | |
| Other amounts payable | 47/48 | €29,000 | €16,967 | -€12,033 | -41.5% |
| Accrued charges and deferred income | 492/3 | €12 | - | -€12 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,484 | €26,695 | +€211 | +0.8% |
| Other operating charges | 640/8 | €1,034 | €977 | -€57 | -5.5% |
| Gross operating margin | 9900 | €56,788 | €49,545 | -€7,242 | -12.8% |
| Operating profit (loss) | 9901 | €29,270 | €21,874 | -€7,396 | -25.3% |
| Financial income | 75/76B | €61 | - | -€61 | |
| Recurring financial income | 75 | €61 | - | -€61 | |
| Financial charges | 65/66B | €723 | €332 | -€391 | -54.1% |
| Recurring financial charges | 65 | €723 | €332 | -€391 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | €28,608 | €21,542 | -€7,066 | -24.7% |
| Income taxes | 67/77 | €10,141 | €8,531 | -€1,610 | -15.9% |
| Profit (loss) for the period | 9904 | €18,467 | €13,010 | -€5,457 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,467 | €13,010 | -€5,457 | -29.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.