Pascaline De Wolf: 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.
Pascaline De Wolf
Largest movements
- Cash -€81,800
down €81,800 (-33.0%), from €247,546 to €165,747
mainly Other debts (-€139,472) and Contributions, distributions and other (-€60,000)
- Receivables within one year +€29,834
up €29,834 (+344%), from €8,681 to €38,515
of which Trade receivables: +€30,582
- Other debts -€139,472
down €139,472 (-69.4%), from €200,917 to €61,445
- Profit (loss) carried forward +€32,459
up €32,459 (+89.8%), from €36,134 to €68,594
- Trade debts +€31,685
up €31,685 (+211%), from €14,995 to €46,680
- Tax, wage and social debts +€21,554
up €21,554 (+296%), from €7,275 to €28,829
of which Taxes: +€21,383
- Gross operating margin -€33,376
down €33,376 (-19.8%), from €168,931 to €135,556
- Taxes -€8,594
down €8,594 (-24.2%), from €35,584 to €26,990
- Staff costs +€6,881
up €6,881 (+105%), from €6,559 to €13,440
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 | €264,321 | €210,547 | -€53,773 | -20.3% |
| Fixed assets | 21/28 | €6,878 | €5,048 | -€1,830 | -26.6% |
| Tangible fixed assets | 22/27 | €4,588 | €2,758 | -€1,830 | -39.9% |
| Furniture and vehicles | 24 | €4,588 | €2,758 | -€1,830 | -39.9% |
| Financial fixed assets | 28 | €2,290 | €2,290 | = | 0.0% |
| Current assets | 29/58 | €257,443 | €205,500 | -€51,944 | -20.2% |
| Amounts receivable within one year | 40/41 | €8,681 | €38,515 | +€29,834 | +344% |
| Trade receivables | 40 | €6,776 | €37,357 | +€30,582 | +451% |
| Other amounts receivable | 41 | €1,905 | €1,157 | -€748 | -39.2% |
| Cash at bank and in hand | 54/58 | €247,546 | €165,747 | -€81,800 | -33.0% |
| Deferred charges and accrued income | 490/1 | €1,216 | €1,238 | +€22 | +1.8% |
| Total equity and liabilities | 10/49 | €264,321 | €210,547 | -€53,773 | -20.3% |
| Equity | 10/15 | €41,134 | €73,594 | +€32,459 | +78.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,134 | €68,594 | +€32,459 | +89.8% |
| Amounts payable | 17/49 | €223,187 | €136,954 | -€86,233 | -38.6% |
| Amounts payable within one year | 42/48 | €223,187 | €136,954 | -€86,233 | -38.6% |
| Trade debts | 44 | €14,995 | €46,680 | +€31,685 | +211% |
| Suppliers | 440/4 | €14,995 | €46,680 | +€31,685 | +211% |
| Taxes, remuneration and social security | 45 | €7,275 | €28,829 | +€21,554 | +296% |
| Taxes | 450/3 | €6,296 | €27,679 | +€21,383 | +340% |
| Remuneration and social security | 454/9 | €979 | €1,150 | +€171 | +17.4% |
| Other amounts payable | 47/48 | €200,917 | €61,445 | -€139,472 | -69.4% |
| Remuneration, social security and pensions | 62 | €6,559 | €13,440 | +€6,881 | +105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,437 | €1,830 | +€393 | +27.4% |
| Other operating charges | 640/8 | €404 | €400 | -€5 | -1.2% |
| Gross operating margin | 9900 | €168,931 | €135,556 | -€33,376 | -19.8% |
| Operating profit (loss) | 9901 | €160,532 | €119,886 | -€40,645 | -25.3% |
| Financial income | 75/76B | €126 | €30 | -€96 | -76.3% |
| Recurring financial income | 75 | €126 | €30 | -€96 | -76.3% |
| Financial charges | 65/66B | €180 | €467 | +€287 | +160% |
| Recurring financial charges | 65 | €180 | €467 | +€287 | +160% |
| Profit (loss) for the period before taxes | 9903 | €160,478 | €119,450 | -€41,029 | -25.6% |
| Income taxes | 67/77 | €35,584 | €26,990 | -€8,594 | -24.2% |
| Profit (loss) for the period | 9904 | €124,894 | €92,459 | -€32,435 | -26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €124,894 | €92,459 | -€32,435 | -26.0% |
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 14 October 2026 via checked.be.