Olivier Denecker: what changed
Olivier Denecker
Largest movements
- Cash -€6,643
down €6,643 (-100%), from €6,643 to €0
mainly Net result for the year (-€7,502) and Trade debts (-€7,193)
- Receivables within one year -€3,010
down €3,010 (-43.7%), from €6,886 to €3,876
of which Trade receivables: -€3,241
- Tangible fixed assets -€2,801
down €2,801 (-100%), from €2,801 to €0
of which Furniture and vehicles: -€2,276
- Profit (loss) carried forward -€7,502
down €7,502 (-31.8%), from -€23,575 to -€31,077
- Trade debts -€7,193
down €7,193 (-57.8%), from €12,438 to €5,245
- Other debts +€4,329
up €4,329 (+1,415%), from €306 to €4,635
- Accrued charges and deferred income -€1,164
down €1,164 (-100%), from €1,164 to €0
- Tax, wage and social debts -€928
down €928 (-97.1%), from €956 to €28
- Gross operating margin +€3,156
up €3,156 (+35.5%), from -€8,903 to -€5,747
- Depreciation -€1,476
down €1,476 (-100%), from €1,476 to €0
- Financial charges -€98
down €98 (-31.0%), from €316 to €218
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 | €16,330 | €3,876 | -€12,454 | -76.3% |
| Fixed assets | 21/28 | €2,801 | €0 | -€2,801 | -100% |
| Tangible fixed assets | 22/27 | €2,801 | €0 | -€2,801 | -100% |
| Plant, machinery and equipment | 23 | €525 | €0 | -€525 | -100% |
| Furniture and vehicles | 24 | €2,276 | €0 | -€2,276 | -100% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €13,529 | €3,876 | -€9,653 | -71.3% |
| Amounts receivable within one year | 40/41 | €6,886 | €3,876 | -€3,010 | -43.7% |
| Trade receivables | 40 | €6,886 | €3,645 | -€3,241 | -47.1% |
| Other amounts receivable | 41 | €0 | €231 | +€231 | |
| Cash at bank and in hand | 54/58 | €6,643 | €0 | -€6,643 | -100% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €16,330 | €3,876 | -€12,454 | -76.3% |
| Equity | 10/15 | €1,467 | -€6,035 | -€7,502 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,442 | €6,442 | = | 0.0% |
| Distributable reserves | 133 | €6,442 | €6,442 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,575 | -€31,077 | -€7,502 | -31.8% |
| Amounts payable | 17/49 | €14,863 | €9,912 | -€4,952 | -33.3% |
| Amounts payable within one year | 42/48 | €13,700 | €9,912 | -€3,788 | -27.7% |
| Financial debts | 43 | - | €4 | +€4 | |
| Credit institutions | 430/8 | - | €4 | +€4 | |
| Trade debts | 44 | €12,438 | €5,245 | -€7,193 | -57.8% |
| Suppliers | 440/4 | €12,438 | €5,245 | -€7,193 | -57.8% |
| Taxes, remuneration and social security | 45 | €956 | €28 | -€928 | -97.1% |
| Taxes | 450/3 | €956 | €28 | -€928 | -97.1% |
| Other amounts payable | 47/48 | €306 | €4,635 | +€4,329 | +1,415% |
| Accrued charges and deferred income | 492/3 | €1,164 | €0 | -€1,164 | -100% |
| Non-recurring operating income | 76A | €1,898 | €1,030 | -€868 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,476 | €0 | -€1,476 | -100% |
| Other operating charges | 640/8 | €671 | €599 | -€72 | -10.7% |
| Non-recurring operating charges | 66A | €1,000 | €938 | -€62 | -6.2% |
| Gross operating margin | 9900 | -€8,903 | -€5,747 | +€3,156 | +35.5% |
| Operating profit (loss) | 9901 | -€12,050 | -€7,284 | +€4,766 | +39.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €316 | €218 | -€98 | -31.0% |
| Recurring financial charges | 65 | €316 | €218 | -€98 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,366 | -€7,502 | +€4,864 | +39.3% |
| Income taxes | 67/77 | €28 | €0 | -€28 | -100% |
| Profit (loss) for the period | 9904 | -€12,394 | -€7,502 | +€4,892 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,394 | -€7,502 | +€4,892 | +39.5% |
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 2 November 2026 via checked.be.