OLIVIER VRINS: what changed
Two fiscal 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.
OLIVIER VRINS
Largest movements
- Cash +€153,403
up €153,403 (+14.7%), from €1.0m to €1.2m
mainly Other debts (+€411,120) and Net result for the year (+€176,759)
- Tangible fixed assets -€24,041
down €24,041 (-18.2%), from €131,913 to €107,872
of which Furniture and vehicles: -€23,730
- Other debts +€411,120
up €411,120 (+114.1%), from €360,162 to €771,282
- Reserves -€292,417
down €292,417 (-36.7%), from €797,711 to €505,293
- Gross operating margin +€18,904
up €18,904 (+7.4%), from €257,154 to €276,058
- Taxes +€4,637
up €4,637 (+6.4%), from €72,633 to €77,270
- Financial income +€4,483
up €4,483 (+216.5%), from €2,070 to €6,553
- Depreciation +€3,763
up €3,763 (+18.6%), from €20,277 to €24,041
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.
Cash bridge derived
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 | €1,193,562 | €1,317,286 | +€123,724 | +10.4% |
| Fixed assets | 21/28 | €143,187 | €119,147 | -€24,041 | -16.8% |
| Tangible fixed assets | 22/27 | €131,913 | €107,872 | -€24,041 | -18.2% |
| Furniture and vehicles | 24 | €130,792 | €107,062 | -€23,730 | -18.1% |
| Other tangible fixed assets | 26 | €1,121 | €810 | -€311 | -27.7% |
| Financial fixed assets | 28 | €11,274 | €11,274 | = | 0.0% |
| Current assets | 29/58 | €1,050,375 | €1,198,139 | +€147,764 | +14.1% |
| Amounts receivable within one year | 40/41 | €1,948 | €90 | -€1,858 | -95.4% |
| Trade receivables | 40 | €1,948 | €90 | -€1,858 | -95.4% |
| Cash at bank and in hand | 54/58 | €1,044,127 | €1,197,530 | +€153,403 | +14.7% |
| Deferred charges and accrued income | 490/1 | €4,299 | €518 | -€3,781 | -87.9% |
| Total equity and liabilities | 10/49 | €1,193,562 | €1,317,286 | +€123,724 | +10.4% |
| Equity | 10/15 | €816,311 | €523,893 | -€292,417 | -35.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €797,711 | €505,293 | -€292,417 | -36.7% |
| Distributable reserves | 133 | €797,711 | €505,293 | -€292,417 | -36.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €377,251 | €793,392 | +€416,141 | +110.3% |
| Amounts payable within one year | 42/48 | €376,958 | €792,995 | +€416,037 | +110.4% |
| Financial debts | 43 | €44 | €266 | +€223 | +507.6% |
| Credit institutions | 430/8 | €44 | €266 | +€223 | +507.6% |
| Trade debts | 44 | €1,602 | €1,761 | +€159 | +9.9% |
| Suppliers | 440/4 | €1,602 | €1,761 | +€159 | +9.9% |
| Taxes, remuneration and social security | 45 | €15,150 | €19,686 | +€4,536 | +29.9% |
| Taxes | 450/3 | €11,923 | €16,181 | +€4,257 | +35.7% |
| Remuneration and social security | 454/9 | €3,227 | €3,505 | +€278 | +8.6% |
| Other amounts payable | 47/48 | €360,162 | €771,282 | +€411,120 | +114.1% |
| Accrued charges and deferred income | 492/3 | €293 | €398 | +€104 | +35.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,277 | €24,041 | +€3,763 | +18.6% |
| Other operating charges | 640/8 | €2,884 | €2,437 | -€447 | -15.5% |
| Non-recurring operating charges | 66A | - | €116 | +€116 | |
| Gross operating margin | 9900 | €257,154 | €276,058 | +€18,904 | +7.4% |
| Operating profit (loss) | 9901 | €233,993 | €249,464 | +€15,472 | +6.6% |
| Financial income | 75/76B | €2,070 | €6,553 | +€4,483 | +216.5% |
| Recurring financial income | 75 | €2,070 | €6,553 | +€4,483 | +216.5% |
| Financial charges | 65/66B | €2,101 | €1,988 | -€113 | -5.4% |
| Recurring financial charges | 65 | €2,101 | €1,988 | -€113 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €233,962 | €254,029 | +€20,067 | +8.6% |
| Income taxes | 67/77 | €72,633 | €77,270 | +€4,637 | +6.4% |
| Profit (loss) for the period | 9904 | €161,329 | €176,759 | +€15,430 | +9.6% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €161,329 | €176,759 | +€15,430 | +9.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.