Naomi Sundermann: 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.
Naomi Sundermann
Largest movements
- Cash +€11,644
up €11,644 (+98.0%), from €11,878 to €23,522
mainly Net result for the year (+€15,077) and Tax, wage and social debts (+€4,903)
- Receivables within one year +€1,433
up €1,433 (+19.2%), from €7,465 to €8,897
- Tangible fixed assets +€915
new in 2025: €915
- Reserves +€15,077
up €15,077 (+875%), from €1,724 to €16,801
- Other debts -€5,338
down €5,338 (-55.8%), from €9,571 to €4,234
- Tax, wage and social debts +€4,903
up €4,903 (+190%), from €2,574 to €7,477
- Trade debts -€742
down €742 (-30.0%), from €2,473 to €1,731
- Gross operating margin +€18,667
up €18,667 (+588%), from €3,174 to €21,841
- Taxes +€4,134
up €4,134 (+463%), from €892 to €5,026
- Financial charges +€660
up €660 (+131%), from €504 to €1,164
- Depreciation +€291
new in 2025: €291
- Other operating charges +€228
up €228 (+411%), from €56 to €284
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 | €19,343 | €33,335 | +€13,992 | +72.3% |
| Fixed assets | 21/28 | - | €915 | +€915 | |
| Tangible fixed assets | 22/27 | - | €915 | +€915 | |
| Furniture and vehicles | 24 | - | €915 | +€915 | |
| Current assets | 29/58 | €19,343 | €32,420 | +€13,077 | +67.6% |
| Amounts receivable within one year | 40/41 | €7,465 | €8,897 | +€1,433 | +19.2% |
| Trade receivables | 40 | €7,465 | €8,897 | +€1,433 | +19.2% |
| Cash at bank and in hand | 54/58 | €11,878 | €23,522 | +€11,644 | +98.0% |
| Total equity and liabilities | 10/49 | €19,343 | €33,335 | +€13,992 | +72.3% |
| Equity | 10/15 | €4,724 | €19,801 | +€15,077 | +319% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,724 | €16,801 | +€15,077 | +875% |
| Distributable reserves | 133 | €1,724 | €16,801 | +€15,077 | +875% |
| Amounts payable | 17/49 | €14,619 | €13,534 | -€1,085 | -7.4% |
| Amounts payable within one year | 42/48 | €14,619 | €13,442 | -€1,177 | -8.1% |
| Trade debts | 44 | €2,473 | €1,731 | -€742 | -30.0% |
| Suppliers | 440/4 | €2,473 | €1,731 | -€742 | -30.0% |
| Taxes, remuneration and social security | 45 | €2,574 | €7,477 | +€4,903 | +190% |
| Taxes | 450/3 | €2,574 | €7,477 | +€4,903 | +190% |
| Other amounts payable | 47/48 | €9,571 | €4,234 | -€5,338 | -55.8% |
| Accrued charges and deferred income | 492/3 | - | €92 | +€92 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €291 | +€291 | |
| Other operating charges | 640/8 | €56 | €284 | +€228 | +411% |
| Gross operating margin | 9900 | €3,174 | €21,841 | +€18,667 | +588% |
| Operating profit (loss) | 9901 | €3,119 | €21,267 | +€18,148 | +582% |
| Financial income | 75/76B | €1 | €0 | -€0 | -43.4% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -43.4% |
| Financial charges | 65/66B | €504 | €1,164 | +€660 | +131% |
| Recurring financial charges | 65 | €504 | €1,164 | +€660 | +131% |
| Profit (loss) for the period before taxes | 9903 | €2,616 | €20,103 | +€17,487 | +669% |
| Income taxes | 67/77 | €892 | €5,026 | +€4,134 | +463% |
| Profit (loss) for the period | 9904 | €1,724 | €15,077 | +€13,353 | +775% |
| Profit (loss) for the period to be appropriated | 9905 | €1,724 | €15,077 | +€13,353 | +775% |
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 22 October 2026 via checked.be.