PATRICK VANLUYDT: 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.
PATRICK VANLUYDT
Largest movements
- Cash +€24,803
up €24,803 (+133.7%), from €18,546 to €43,349
mainly Depreciation (+€9,480) and Net result for the year (+€8,512)
- Tangible fixed assets -€9,480
down €9,480 (-50.8%), from €18,661 to €9,181
of which Furniture and vehicles: -€7,375
- Deferred charges and accrued income -€4,646
down €4,646 (-95.8%), from €4,848 to €202
- Receivables within one year -€2,064
down €2,064 (-98.6%), from €2,093 to €29
of which Other amounts receivable: -€1,862
- Reserves +€8,512
up €8,512 (+109.9%), from €7,745 to €16,258
- Other debts -€2,793
down €2,793 (-18.2%), from €15,353 to €12,561
- Trade debts +€1,467
new in 2025: €1,467
- Tax, wage and social debts +€1,427
up €1,427 (+58.3%), from €2,449 to €3,876
- Gross operating margin +€5,767
up €5,767 (+31.5%), from €18,310 to €24,077
- Taxes +€1,910
up €1,910 (+50.6%), from €3,775 to €5,685
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 | €44,148 | €52,761 | +€8,613 | +19.5% |
| Fixed assets | 21/28 | €18,661 | €9,181 | -€9,480 | -50.8% |
| Tangible fixed assets | 22/27 | €18,661 | €9,181 | -€9,480 | -50.8% |
| Plant, machinery and equipment | 23 | €4,396 | €2,291 | -€2,105 | -47.9% |
| Furniture and vehicles | 24 | €14,265 | €6,890 | -€7,375 | -51.7% |
| Current assets | 29/58 | €25,487 | €43,580 | +€18,093 | +71.0% |
| Amounts receivable within one year | 40/41 | €2,093 | €29 | -€2,064 | -98.6% |
| Trade receivables | 40 | €202 | - | -€202 | |
| Other amounts receivable | 41 | €1,891 | €29 | -€1,862 | -98.5% |
| Cash at bank and in hand | 54/58 | €18,546 | €43,349 | +€24,803 | +133.7% |
| Deferred charges and accrued income | 490/1 | €4,848 | €202 | -€4,646 | -95.8% |
| Total equity and liabilities | 10/49 | €44,148 | €52,761 | +€8,613 | +19.5% |
| Equity | 10/15 | €26,345 | €34,858 | +€8,512 | +32.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,745 | €16,258 | +€8,512 | +109.9% |
| Distributable reserves | 133 | €7,745 | €16,258 | +€8,512 | +109.9% |
| Amounts payable | 17/49 | €17,803 | €17,903 | +€101 | +0.6% |
| Amounts payable within one year | 42/48 | €17,803 | €17,903 | +€101 | +0.6% |
| Trade debts | 44 | - | €1,467 | +€1,467 | |
| Suppliers | 440/4 | - | €1,467 | +€1,467 | |
| Taxes, remuneration and social security | 45 | €2,449 | €3,876 | +€1,427 | +58.3% |
| Taxes | 450/3 | €2,449 | €3,876 | +€1,427 | +58.3% |
| Other amounts payable | 47/48 | €15,353 | €12,561 | -€2,793 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,479 | €9,480 | +€1 | 0.0% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €18,310 | €24,077 | +€5,767 | +31.5% |
| Operating profit (loss) | 9901 | €8,769 | €14,535 | +€5,765 | +65.7% |
| Financial income | 75/76B | - | €58 | +€58 | |
| Recurring financial income | 75 | - | €58 | +€58 | |
| Financial charges | 65/66B | €361 | €395 | +€34 | +9.4% |
| Recurring financial charges | 65 | €361 | €395 | +€34 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €8,408 | €14,198 | +€5,789 | +68.8% |
| Income taxes | 67/77 | €3,775 | €5,685 | +€1,910 | +50.6% |
| Profit (loss) for the period | 9904 | €4,633 | €8,512 | +€3,879 | +83.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,633 | €8,512 | +€3,879 | +83.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.