MARLEEN EYCKERMAN: 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.
MARLEEN EYCKERMAN
Largest movements
- Tangible fixed assets -€12,385
down €12,385 (-37.3%), from €33,194 to €20,809
of which Furniture and vehicles: -€11,849
- Cash -€3,217
down €3,217 (-5.5%), from €58,619 to €55,402
mainly Net result for the year (-€4,633) and Current portion of long-term debt (-€4,259)
- Receivables within one year +€3,008
up €3,008 (+34.6%), from €8,693 to €11,702
of which Trade receivables: +€3,875
- Profit (loss) carried forward -€4,633
down €4,633 (-24.5%), from -€18,893 to -€23,526
- Current portion of long-term debt -€4,259
no longer reported in 2025 (was €4,259)
- Tax, wage and social debts -€3,300
down €3,300 (-49.7%), from €6,642 to €3,341
of which Remuneration and social security: -€3,954
- Trade debts -€1,903
down €1,903 (-60.9%), from €3,124 to €1,222
- Other debts +€1,343
up €1,343 (+7.5%), from €17,930 to €19,273
- Gross operating margin +€11,467
up €11,467, from -€2,425 to €9,042
- Depreciation -€423
down €423 (-3.1%), from €13,546 to €13,123
- Financial income +€259
up €259 (+2,588,200%), from €0 to €259
- Financial charges -€96
down €96 (-46.6%), from €205 to €110
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 | €101,234 | €88,482 | -€12,752 | -12.6% |
| Fixed assets | 21/28 | €33,194 | €20,809 | -€12,385 | -37.3% |
| Tangible fixed assets | 22/27 | €33,194 | €20,809 | -€12,385 | -37.3% |
| Plant, machinery and equipment | 23 | €835 | €645 | -€190 | -22.8% |
| Furniture and vehicles | 24 | €29,162 | €17,312 | -€11,849 | -40.6% |
| Other tangible fixed assets | 26 | €3,197 | €2,852 | -€346 | -10.8% |
| Current assets | 29/58 | €68,040 | €67,673 | -€367 | -0.5% |
| Amounts receivable within one year | 40/41 | €8,693 | €11,702 | +€3,008 | +34.6% |
| Trade receivables | 40 | €4,456 | €8,330 | +€3,875 | +87.0% |
| Other amounts receivable | 41 | €4,238 | €3,371 | -€866 | -20.4% |
| Cash at bank and in hand | 54/58 | €58,619 | €55,402 | -€3,217 | -5.5% |
| Deferred charges and accrued income | 490/1 | €728 | €569 | -€158 | -21.7% |
| Total equity and liabilities | 10/49 | €101,234 | €88,482 | -€12,752 | -12.6% |
| Equity | 10/15 | €69,279 | €64,646 | -€4,633 | -6.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €75,772 | €75,772 | = | 0.0% |
| Distributable reserves | 133 | €75,772 | €75,772 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,893 | -€23,526 | -€4,633 | -24.5% |
| Amounts payable | 17/49 | €31,955 | €23,836 | -€8,119 | -25.4% |
| Amounts payable within one year | 42/48 | €31,955 | €23,836 | -€8,119 | -25.4% |
| Current portion of amounts payable after more than one year | 42 | €4,259 | - | -€4,259 | |
| Trade debts | 44 | €3,124 | €1,222 | -€1,903 | -60.9% |
| Suppliers | 440/4 | €3,124 | €1,222 | -€1,903 | -60.9% |
| Taxes, remuneration and social security | 45 | €6,642 | €3,341 | -€3,300 | -49.7% |
| Taxes | 450/3 | €2,688 | €3,341 | +€654 | +24.3% |
| Remuneration and social security | 454/9 | €3,954 | - | -€3,954 | |
| Other amounts payable | 47/48 | €17,930 | €19,273 | +€1,343 | +7.5% |
| Non-recurring operating income | 76A | €2,954 | - | -€2,954 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,546 | €13,123 | -€423 | -3.1% |
| Other operating charges | 640/8 | €548 | €565 | +€17 | +3.2% |
| Gross operating margin | 9900 | -€2,425 | €9,042 | +€11,467 | |
| Operating profit (loss) | 9901 | -€16,518 | -€4,646 | +€11,872 | +71.9% |
| Financial income | 75/76B | €0 | €259 | +€259 | +2,588,200% |
| Recurring financial income | 75 | €0 | €259 | +€259 | +2,588,200% |
| Financial charges | 65/66B | €205 | €110 | -€96 | -46.6% |
| Recurring financial charges | 65 | €205 | €110 | -€96 | -46.6% |
| Profit (loss) for the period before taxes | 9903 | -€16,724 | -€4,497 | +€12,227 | +73.1% |
| Income taxes | 67/77 | €129 | €136 | +€7 | +5.5% |
| Profit (loss) for the period | 9904 | -€16,852 | -€4,633 | +€12,220 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,852 | -€4,633 | +€12,220 | +72.5% |
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.