Martijn Debbaut: 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.
Martijn Debbaut
Largest movements
- Current investments +€115,000
new in 2025: €115,000
- Cash -€113,205
down €113,205 (-84.8%), from €133,483 to €20,278
mainly Current investments (-€115,000) and Tax, wage and social debts (-€19,487)
- Receivables within one year +€5,211
up €5,211 (+60.6%), from €8,593 to €13,804
of which Other amounts receivable: +€3,925
- Reserves +€34,168
up €34,168 (+31.3%), from €109,150 to €143,319
- Tax, wage and social debts -€19,487
down €19,487 (-99.5%), from €19,581 to €94
- Other debts -€8,106
down €8,106 (-100%), from €8,106 to €0
- Gross operating margin -€54,205
down €54,205 (-53.6%), from €101,191 to €46,985
- Taxes -€8,854
down €8,854 (-43.7%), from €20,244 to €11,389
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 | €142,076 | €149,225 | +€7,149 | +5.0% |
| Current assets | 29/58 | €142,076 | €149,225 | +€7,149 | +5.0% |
| Amounts receivable within one year | 40/41 | €8,593 | €13,804 | +€5,211 | +60.6% |
| Trade receivables | 40 | €8,593 | €9,880 | +€1,286 | +15.0% |
| Other amounts receivable | 41 | - | €3,925 | +€3,925 | |
| Current investments | 50/53 | - | €115,000 | +€115,000 | |
| Cash at bank and in hand | 54/58 | €133,483 | €20,278 | -€113,205 | -84.8% |
| Deferred charges and accrued income | 490/1 | - | €143 | +€143 | |
| Total equity and liabilities | 10/49 | €142,076 | €149,225 | +€7,149 | +5.0% |
| Equity | 10/15 | €114,150 | €148,319 | +€34,168 | +29.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €109,150 | €143,319 | +€34,168 | +31.3% |
| Distributable reserves | 133 | €109,150 | €143,319 | +€34,168 | +31.3% |
| Amounts payable | 17/49 | €27,926 | €906 | -€27,019 | -96.8% |
| Amounts payable within one year | 42/48 | €27,808 | €314 | -€27,494 | -98.9% |
| Trade debts | 44 | €121 | €19 | -€102 | -84.0% |
| Suppliers | 440/4 | €121 | €19 | -€102 | -84.0% |
| Advances received on contracts in progress | 46 | - | €200 | +€200 | |
| Taxes, remuneration and social security | 45 | €19,581 | €94 | -€19,487 | -99.5% |
| Taxes | 450/3 | €19,581 | €94 | -€19,487 | -99.5% |
| Other amounts payable | 47/48 | €8,106 | €0 | -€8,106 | -100% |
| Accrued charges and deferred income | 492/3 | €118 | €593 | +€475 | +402% |
| Other operating charges | 640/8 | €163 | €1,070 | +€907 | +555% |
| Gross operating margin | 9900 | €101,191 | €46,985 | -€54,205 | -53.6% |
| Operating profit (loss) | 9901 | €101,027 | €45,915 | -€55,112 | -54.6% |
| Financial income | 75/76B | €35 | €143 | +€108 | +310% |
| Recurring financial income | 75 | €35 | €143 | +€108 | +310% |
| Financial charges | 65/66B | €87 | €500 | +€413 | +476% |
| Recurring financial charges | 65 | €87 | €500 | +€413 | +476% |
| Profit (loss) for the period before taxes | 9903 | €100,975 | €45,558 | -€55,418 | -54.9% |
| Income taxes | 67/77 | €20,244 | €11,389 | -€8,854 | -43.7% |
| Profit (loss) for the period | 9904 | €80,731 | €34,168 | -€46,563 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €80,731 | €34,168 | -€46,563 | -57.7% |
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 20 October 2026 via checked.be.