MARK WAUTERS: 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.
MARK WAUTERS
Largest movements
- Cash +€10,319
up €10,319 (+45.4%), from €22,720 to €33,039
mainly Net result for the year (+€53,924) and Depreciation (+€10,923)
- Tangible fixed assets +€5,499
up €5,499 (+8.6%), from €64,170 to €69,669
of which Furniture and vehicles: +€14,442
- Reserves +€13,769
up €13,769 (+3.6%), from €381,761 to €395,529
- Tax, wage and social debts +€5,038
up €5,038 (+140%), from €3,599 to €8,637
of which Taxes: +€3,038
No income-statement line moved by more than 1% of the activity.
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 | €406,680 | €423,528 | +€16,849 | +4.1% |
| Fixed assets | 21/28 | €64,170 | €69,669 | +€5,499 | +8.6% |
| Tangible fixed assets | 22/27 | €64,170 | €69,669 | +€5,499 | +8.6% |
| Furniture and vehicles | 24 | €3,457 | €17,899 | +€14,442 | +418% |
| Other tangible fixed assets | 26 | €60,713 | €51,770 | -€8,943 | -14.7% |
| Current assets | 29/58 | €342,510 | €353,860 | +€11,350 | +3.3% |
| Amounts receivable within one year | 40/41 | €14,063 | €16,854 | +€2,791 | +19.8% |
| Trade receivables | 40 | €11,064 | €16,854 | +€5,790 | +52.3% |
| Other amounts receivable | 41 | €2,999 | €0 | -€2,999 | -100% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,720 | €33,039 | +€10,319 | +45.4% |
| Deferred charges and accrued income | 490/1 | €5,727 | €3,966 | -€1,761 | -30.7% |
| Total equity and liabilities | 10/49 | €406,680 | €423,528 | +€16,849 | +4.1% |
| Equity | 10/15 | €394,161 | €407,929 | +€13,769 | +3.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €381,761 | €395,529 | +€13,769 | +3.6% |
| Distributable reserves | 133 | €381,761 | €395,529 | +€13,769 | +3.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,519 | €15,599 | +€3,080 | +24.6% |
| Amounts payable within one year | 42/48 | €12,519 | €15,104 | +€2,585 | +20.6% |
| Financial debts | 43 | €79 | €147 | +€69 | +87.8% |
| Other loans | 439 | €79 | €147 | +€69 | +87.8% |
| Trade debts | 44 | €2,473 | €586 | -€1,887 | -76.3% |
| Suppliers | 440/4 | €2,473 | €586 | -€1,887 | -76.3% |
| Taxes, remuneration and social security | 45 | €3,599 | €8,637 | +€5,038 | +140% |
| Taxes | 450/3 | €3,599 | €6,637 | +€3,038 | +84.4% |
| Remuneration and social security | 454/9 | €0 | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €6,368 | €5,733 | -€635 | -10.0% |
| Accrued charges and deferred income | 492/3 | €0 | €495 | +€495 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,020 | €10,923 | +€903 | +9.0% |
| Other operating charges | 640/8 | €931 | €909 | -€23 | -2.4% |
| Gross operating margin | 9900 | €90,187 | €90,519 | +€332 | +0.4% |
| Operating profit (loss) | 9901 | €79,236 | €78,688 | -€548 | -0.7% |
| Financial charges | 65/66B | €4,732 | €3,845 | -€887 | -18.7% |
| Recurring financial charges | 65 | €4,732 | €3,845 | -€887 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €74,504 | €74,843 | +€339 | +0.5% |
| Income taxes | 67/77 | €20,970 | €20,919 | -€51 | -0.2% |
| Profit (loss) for the period | 9904 | €53,534 | €53,924 | +€390 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,534 | €53,924 | +€390 | +0.7% |
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 31 October 2026 via checked.be.