Natacha Vervloet: 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.
Natacha Vervloet
Largest movements
- Financial fixed assets +€229,162
new in 2025: €229,162
- Receivables within one year +€5,061
up €5,061 (+89.9%), from €5,628 to €10,688
- Other debts +€149,042
up €149,042 (+298,085%), from €50 to €149,092
- Reserves +€94,834
up €94,834 (+165%), from €57,490 to €152,324
- Tax, wage and social debts -€9,982
down €9,982 (-43.7%), from €22,854 to €12,872
of which Taxes: -€9,982
- Gross operating margin +€47,873
up €47,873 (+66.0%), from €72,495 to €120,368
- Taxes +€10,567
up €10,567 (+73.5%), from €14,372 to €24,939
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 | €82,039 | €317,902 | +€235,864 | +288% |
| Fixed assets | 21/28 | - | €229,162 | +€229,162 | |
| Financial fixed assets | 28 | - | €229,162 | +€229,162 | |
| Current assets | 29/58 | €82,039 | €88,741 | +€6,702 | +8.2% |
| Amounts receivable within one year | 40/41 | €5,628 | €10,688 | +€5,061 | +89.9% |
| Other amounts receivable | 41 | €5,628 | €10,688 | +€5,061 | +89.9% |
| Cash at bank and in hand | 54/58 | €76,411 | €78,052 | +€1,641 | +2.1% |
| Total equity and liabilities | 10/49 | €82,039 | €317,902 | +€235,864 | +288% |
| Equity | 10/15 | €58,490 | €153,324 | +€94,834 | +162% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €57,490 | €152,324 | +€94,834 | +165% |
| Distributable reserves | 133 | €57,490 | €152,324 | +€94,834 | +165% |
| Amounts payable | 17/49 | €23,549 | €164,579 | +€141,030 | +599% |
| Amounts payable within one year | 42/48 | €23,549 | €164,579 | +€141,030 | +599% |
| Trade debts | 44 | €645 | €2,615 | +€1,969 | +305% |
| Suppliers | 440/4 | €645 | €2,615 | +€1,969 | +305% |
| Taxes, remuneration and social security | 45 | €22,854 | €12,872 | -€9,982 | -43.7% |
| Taxes | 450/3 | €20,354 | €10,372 | -€9,982 | -49.0% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €50 | €149,092 | +€149,042 | +298,085% |
| Other operating charges | 640/8 | €387 | €520 | +€132 | +34.2% |
| Gross operating margin | 9900 | €72,495 | €120,368 | +€47,873 | +66.0% |
| Operating profit (loss) | 9901 | €72,108 | €119,848 | +€47,740 | +66.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €246 | €75 | -€171 | -69.5% |
| Recurring financial charges | 65 | €246 | €75 | -€171 | -69.5% |
| Profit (loss) for the period before taxes | 9903 | €71,862 | €119,773 | +€47,911 | +66.7% |
| Income taxes | 67/77 | €14,372 | €24,939 | +€10,567 | +73.5% |
| Profit (loss) for the period | 9904 | €57,490 | €94,834 | +€37,344 | +65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,490 | €94,834 | +€37,344 | +65.0% |
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 24 October 2026 via checked.be.