Marleen Lepoutre: what changed
Marleen Lepoutre
Largest movements
- Current investments +€105,161
up €105,161 (+70.1%), from €150,000 to €255,161
- Cash -€63,521
down €63,521 (-44.9%), from €141,502 to €77,981
mainly Contributions, distributions and other (-€171,774) and Current investments (-€105,161)
- Deferred charges and accrued income +€5,104
up €5,104 (+44.6%), from €11,447 to €16,551
- Other debts +€103,726
up €103,726 (+37,605%), from €276 to €104,002
- Reserves -€72,382
down €72,382 (-17.6%), from €410,991 to €338,609
- Tax, wage and social debts +€8,146
up €8,146 (+25.7%), from €31,674 to €39,820
of which Taxes: +€10,146
- Accrued charges and deferred income +€7,243
new in 2025: €7,243
- Gross operating margin -€21,271
down €21,271 (-14.1%), from €150,631 to €129,360
- Taxes -€12,749
down €12,749 (-28.5%), from €44,742 to €31,993
- Financial charges +€3,744
up €3,744 (+522%), from €717 to €4,461
- Financial income +€3,353
up €3,353 (+57.6%), from €5,818 to €9,170
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 | €445,441 | €494,928 | +€49,487 | +11.1% |
| Fixed assets | 21/28 | €1,993 | €3,208 | +€1,216 | +61.0% |
| Tangible fixed assets | 22/27 | €1,993 | €3,208 | +€1,216 | +61.0% |
| Plant, machinery and equipment | 23 | €217 | €2,304 | +€2,087 | +960% |
| Furniture and vehicles | 24 | €1,775 | €904 | -€871 | -49.1% |
| Current assets | 29/58 | €443,449 | €491,720 | +€48,271 | +10.9% |
| Amounts receivable after more than one year | 29 | €140,500 | €140,500 | = | 0.0% |
| Other amounts receivable | 291 | €140,500 | €140,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €1,527 | +€1,527 | |
| Trade receivables | 40 | - | €1,527 | +€1,527 | |
| Current investments | 50/53 | €150,000 | €255,161 | +€105,161 | +70.1% |
| Cash at bank and in hand | 54/58 | €141,502 | €77,981 | -€63,521 | -44.9% |
| Deferred charges and accrued income | 490/1 | €11,447 | €16,551 | +€5,104 | +44.6% |
| Total equity and liabilities | 10/49 | €445,441 | €494,928 | +€49,487 | +11.1% |
| Equity | 10/15 | €413,491 | €341,109 | -€72,382 | -17.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €410,991 | €338,609 | -€72,382 | -17.6% |
| Distributable reserves | 133 | €410,991 | €338,609 | -€72,382 | -17.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €31,950 | €153,819 | +€121,869 | +381% |
| Amounts payable within one year | 42/48 | €31,950 | €146,576 | +€114,626 | +359% |
| Trade debts | 44 | - | €2,753 | +€2,753 | |
| Suppliers | 440/4 | - | €2,753 | +€2,753 | |
| Taxes, remuneration and social security | 45 | €31,674 | €39,820 | +€8,146 | +25.7% |
| Taxes | 450/3 | €29,674 | €39,820 | +€10,146 | +34.2% |
| Remuneration and social security | 454/9 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts payable | 47/48 | €276 | €104,002 | +€103,726 | +37,605% |
| Accrued charges and deferred income | 492/3 | - | €7,243 | +€7,243 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,930 | €1,618 | -€312 | -16.2% |
| Other operating charges | 640/8 | €669 | €1,068 | +€398 | +59.5% |
| Gross operating margin | 9900 | €150,631 | €129,360 | -€21,271 | -14.1% |
| Operating profit (loss) | 9901 | €148,032 | €126,674 | -€21,357 | -14.4% |
| Financial income | 75/76B | €5,818 | €9,170 | +€3,353 | +57.6% |
| Recurring financial income | 75 | €5,818 | €9,170 | +€3,353 | +57.6% |
| Financial charges | 65/66B | €717 | €4,461 | +€3,744 | +522% |
| Recurring financial charges | 65 | €717 | €4,461 | +€3,744 | +522% |
| Profit (loss) for the period before taxes | 9903 | €153,132 | €131,384 | -€21,748 | -14.2% |
| Income taxes | 67/77 | €44,742 | €31,993 | -€12,749 | -28.5% |
| Profit (loss) for the period | 9904 | €108,390 | €99,391 | -€8,999 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €108,390 | €99,391 | -€8,999 | -8.3% |
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 3 November 2026 via checked.be.