NATHALIE CAEKAERT: what changed
NATHALIE CAEKAERT
Largest movements
- Tangible fixed assets -€8,665
down €8,665 (-70.8%), from €12,245 to €3,580
of which Land and buildings: -€4,482
- Receivables within one year -€3,312
down €3,312 (-7.7%), from €43,042 to €39,730
of which Other amounts receivable: -€19,251
- Cash -€1,113
down €1,113 (-3.5%), from €31,864 to €30,751
mainly Debts after one year (-€30,784) and Deferred charges and accrued income (-€309)
- Debts after one year -€30,784
down €30,784 (-80.5%), from €38,261 to €7,477
- Reserves +€7,908
up €7,908 (+23.2%), from €34,052 to €41,960
- Trade debts +€6,809
up €6,809 (+98.6%), from €6,903 to €13,712
- Tax, wage and social debts +€2,922
up €2,922 (+128%), from €2,288 to €5,210
of which Taxes: +€2,477
- Gross operating margin -€41,812
down €41,812 (-73.7%), from €56,708 to €14,896
- Financial charges -€6,527
down €6,527 (-89.5%), from €7,289 to €762
- Depreciation -€5,648
down €5,648 (-90.9%), from €6,210 to €562
- Taxes +€2,642
new in 2025: €2,642
- Staff costs -€1,198
down €1,198 (-95.7%), from €1,252 to €53
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 | €87,283 | €74,502 | -€12,781 | -14.6% |
| Fixed assets | 21/28 | €12,245 | €3,580 | -€8,665 | -70.8% |
| Tangible fixed assets | 22/27 | €12,245 | €3,580 | -€8,665 | -70.8% |
| Land and buildings | 22 | €6,645 | €2,163 | -€4,482 | -67.4% |
| Plant, machinery and equipment | 23 | €3,740 | - | -€3,740 | |
| Furniture and vehicles | 24 | €1,861 | €1,417 | -€444 | -23.8% |
| Current assets | 29/58 | €75,038 | €70,922 | -€4,116 | -5.5% |
| Amounts receivable within one year | 40/41 | €43,042 | €39,730 | -€3,312 | -7.7% |
| Trade receivables | 40 | €13,746 | €29,686 | +€15,939 | +116% |
| Other amounts receivable | 41 | €29,296 | €10,045 | -€19,251 | -65.7% |
| Cash at bank and in hand | 54/58 | €31,864 | €30,751 | -€1,113 | -3.5% |
| Deferred charges and accrued income | 490/1 | €132 | €441 | +€309 | +234% |
| Total equity and liabilities | 10/49 | €87,283 | €74,502 | -€12,781 | -14.6% |
| Equity | 10/15 | €39,052 | €46,960 | +€7,908 | +20.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €34,052 | €41,960 | +€7,908 | +23.2% |
| Distributable reserves | 133 | €34,052 | €41,960 | +€7,908 | +23.2% |
| Amounts payable | 17/49 | €48,231 | €27,542 | -€20,689 | -42.9% |
| Amounts payable after more than one year | 17 | €38,261 | €7,477 | -€30,784 | -80.5% |
| Financial debts | 170/4 | €38,261 | €7,477 | -€30,784 | -80.5% |
| Amounts payable within one year | 42/48 | €9,971 | €20,065 | +€10,095 | +101% |
| Current portion of amounts payable after more than one year | 42 | €733 | €829 | +€96 | +13.1% |
| Trade debts | 44 | €6,903 | €13,712 | +€6,809 | +98.6% |
| Suppliers | 440/4 | €6,903 | €13,712 | +€6,809 | +98.6% |
| Taxes, remuneration and social security | 45 | €2,288 | €5,210 | +€2,922 | +128% |
| Taxes | 450/3 | €165 | €2,642 | +€2,477 | +1,499% |
| Remuneration and social security | 454/9 | €2,123 | €2,568 | +€446 | +21.0% |
| Other amounts payable | 47/48 | €47 | €314 | +€268 | +571% |
| Non-recurring operating income | 76A | €13,000 | €9,615 | -€3,385 | -26.0% |
| Remuneration, social security and pensions | 62 | €1,252 | €53 | -€1,198 | -95.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,210 | €562 | -€5,648 | -90.9% |
| Other operating charges | 640/8 | €2,957 | €2,980 | +€23 | +0.8% |
| Gross operating margin | 9900 | €56,708 | €14,896 | -€41,812 | -73.7% |
| Operating profit (loss) | 9901 | €46,289 | €11,300 | -€34,989 | -75.6% |
| Financial income | 75/76B | €1 | €12 | +€11 | +1,394% |
| Recurring financial income | 75 | €1 | €12 | +€11 | +1,394% |
| Financial charges | 65/66B | €7,289 | €762 | -€6,527 | -89.5% |
| Recurring financial charges | 65 | €7,289 | €762 | -€6,527 | -89.5% |
| Profit (loss) for the period before taxes | 9903 | €39,001 | €10,550 | -€28,451 | -72.9% |
| Income taxes | 67/77 | - | €2,642 | +€2,642 | |
| Profit (loss) for the period | 9904 | €39,001 | €7,908 | -€31,093 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,001 | €7,908 | -€31,093 | -79.7% |
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 8 November 2026 via checked.be.