Rob Creemers: 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.
Rob Creemers
Largest movements
- Cash -€23,423
down €23,423 (-60.3%), from €38,866 to €15,443
mainly Contributions, distributions and other (-€33,374) and Tax, wage and social debts (-€6,128)
- Tangible fixed assets -€975
down €975 (-40.4%), from €2,412 to €1,438
- Deferred charges and accrued income -€771
down €771 (-100%), from €771 to €0
- Reserves -€33,374
down €33,374 (-86.4%), from €38,621 to €5,247
- Other debts +€11,410
new in 2025: €11,410
- Tax, wage and social debts -€6,128
down €6,128 (-24.8%), from €24,710 to €18,583
of which Taxes: -€6,175
- Trade debts +€2,006
up €2,006 (+141%), from €1,425 to €3,431
- Accrued charges and deferred income +€1,548
new in 2025: €1,548
- Gross operating margin -€43,422
down €43,422 (-93.1%), from €46,662 to €3,240
- Taxes -€8,479
down €8,479 (-89.8%), from €9,443 to €964
- Financial charges -€851
down €851 (-47.2%), from €1,803 to €952
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 | €67,256 | €42,011 | -€25,245 | -37.5% |
| Formation expenses | 20 | €791 | €417 | -€374 | -47.3% |
| Fixed assets | 21/28 | €2,412 | €1,438 | -€975 | -40.4% |
| Tangible fixed assets | 22/27 | €2,412 | €1,438 | -€975 | -40.4% |
| Plant, machinery and equipment | 23 | €2,412 | €1,438 | -€975 | -40.4% |
| Current assets | 29/58 | €64,053 | €40,156 | -€23,896 | -37.3% |
| Amounts receivable within one year | 40/41 | €24,416 | €24,714 | +€298 | +1.2% |
| Trade receivables | 40 | €24,224 | €23,177 | -€1,047 | -4.3% |
| Other amounts receivable | 41 | €192 | €1,536 | +€1,344 | +700% |
| Cash at bank and in hand | 54/58 | €38,866 | €15,443 | -€23,423 | -60.3% |
| Deferred charges and accrued income | 490/1 | €771 | €0 | -€771 | -100% |
| Total equity and liabilities | 10/49 | €67,256 | €42,011 | -€25,245 | -37.5% |
| Equity | 10/15 | €41,121 | €7,039 | -€34,082 | -82.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €38,621 | €5,247 | -€33,374 | -86.4% |
| Distributable reserves | 133 | €38,621 | €5,247 | -€33,374 | -86.4% |
| Profit (loss) carried forward | 14 | - | -€708 | -€708 | |
| Amounts payable | 17/49 | €26,135 | €34,972 | +€8,836 | +33.8% |
| Amounts payable within one year | 42/48 | €26,135 | €33,423 | +€7,288 | +27.9% |
| Trade debts | 44 | €1,425 | €3,431 | +€2,006 | +141% |
| Suppliers | 440/4 | €1,425 | €3,431 | +€2,006 | +141% |
| Taxes, remuneration and social security | 45 | €24,710 | €18,583 | -€6,128 | -24.8% |
| Taxes | 450/3 | €22,232 | €16,057 | -€6,175 | -27.8% |
| Remuneration and social security | 454/9 | €2,478 | €2,525 | +€47 | +1.9% |
| Other amounts payable | 47/48 | - | €11,410 | +€11,410 | |
| Accrued charges and deferred income | 492/3 | - | €1,548 | +€1,548 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,318 | €1,349 | +€30 | +2.3% |
| Other operating charges | 640/8 | €726 | €684 | -€43 | -5.9% |
| Gross operating margin | 9900 | €46,662 | €3,240 | -€43,422 | -93.1% |
| Operating profit (loss) | 9901 | €44,618 | €1,208 | -€43,410 | -97.3% |
| Financial income | 75/76B | €2 | €0 | -€2 | -78.2% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -78.2% |
| Financial charges | 65/66B | €1,803 | €952 | -€851 | -47.2% |
| Recurring financial charges | 65 | €1,803 | €952 | -€851 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | €42,817 | €256 | -€42,561 | -99.4% |
| Income taxes | 67/77 | €9,443 | €964 | -€8,479 | -89.8% |
| Profit (loss) for the period | 9904 | €33,374 | -€708 | -€34,082 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,374 | -€708 | -€34,082 |
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 25 October 2026 via checked.be.