ROBERT LIPSCHÜTZ: 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.
What changed
ROBERT LIPSCHÜTZ
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2,190
2024 · -€565+€2,755
Equity
€101,314
2024 · €99,124+€2,190
Cash
€711
2024 · €1,094-€383
Balance sheet total
€639,932
2024 · €632,604+€7,328
Largest movements
Assets
- Receivables within one year +€7,949
up €7,949 (+42.6%), from €18,647 to €26,596
of which Trade receivables: +€7,881
Equity and liabilities
- Accrued charges and deferred income +€13,152
up €13,152 (+2.5%), from €521,832 to €534,984
Income statement
- Financial charges +€2,828
up €2,828 (+97.8%), from €2,892 to €5,720
- Financial income -€2,432
down €2,432 (-46.6%), from €5,219 to €2,787
- Depreciation +€2,386
up €2,386 (+32.2%), from €7,403 to €9,789
- Gross operating margin +€1,775
up €1,775 (+11.2%), from €15,905 to €17,680
- Taxes -€1,145
down €1,145 (-42.3%), from €2,710 to €1,565
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.
Result 2024
-€565
Gross operating margin
+€1,775
Depreciation
-€2,386
Other operating charges
+€462
Other operating items
+€7,019
Financial income
-€2,432
Financial charges
-€2,828
Taxes
+€1,145
Result 2025
€2,190
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.
From operations
+€16,088
Investment
-€9,471
Financing
-€7,000
Cash 2024
€1,094
From operations (derived)
+€16,088
Net result for the year
+€2,190
Depreciation
+€9,789
Receivables within one year
-€7,949
Deferred charges and accrued income
-€80
Trade debts
-€883
Tax, wage and social debts
-€131
Accrued charges and deferred income
+€13,152
Investment (derived)
-€9,471
Investment in fixed assets (net)
-€6,684
Current investments
-€2,787
Financing
-€7,000
Debts after one year
-€1,750
Short-term financial debts
-€5,250
Cash 2025
€711
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €632,604 | €639,932 | +€7,328 | +1.2% |
| Fixed assets | 21/28 | €107,466 | €104,361 | -€3,105 | -2.9% |
| Tangible fixed assets | 22/27 | €27,466 | €24,361 | -€3,105 | -11.3% |
| Plant, machinery and equipment | 23 | €948 | €6,064 | +€5,116 | +539.7% |
| Furniture and vehicles | 24 | €26,518 | €18,297 | -€8,221 | -31.0% |
| Financial fixed assets | 28 | €80,000 | €80,000 | = | 0.0% |
| Current assets | 29/58 | €525,138 | €535,571 | +€10,433 | +2.0% |
| Amounts receivable within one year | 40/41 | €18,647 | €26,596 | +€7,949 | +42.6% |
| Trade receivables | 40 | €18,647 | €26,528 | +€7,881 | +42.3% |
| Other amounts receivable | 41 | - | €68 | +€68 | |
| Current investments | 50/53 | €502,759 | €505,546 | +€2,787 | +0.6% |
| Cash at bank and in hand | 54/58 | €1,094 | €711 | -€383 | -35.0% |
| Deferred charges and accrued income | 490/1 | €2,638 | €2,718 | +€80 | +3.0% |
| Total equity and liabilities | 10/49 | €632,604 | €639,932 | +€7,328 | +1.2% |
| Equity | 10/15 | €99,124 | €101,314 | +€2,190 | +2.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,089 | €81,089 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,814 | €9,814 | = | 0.0% |
| Distributable reserves | 133 | €69,415 | €69,415 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€565 | €1,625 | +€2,190 | |
| Amounts payable | 17/49 | €533,480 | €538,618 | +€5,138 | +1.0% |
| Amounts payable after more than one year | 17 | €1,750 | - | -€1,750 | |
| Financial debts | 170/4 | €1,750 | - | -€1,750 | |
| Amounts payable within one year | 42/48 | €9,898 | €3,634 | -€6,264 | -63.3% |
| Financial debts | 43 | €7,000 | €1,750 | -€5,250 | -75.0% |
| Credit institutions | 430/8 | €7,000 | €1,750 | -€5,250 | -75.0% |
| Trade debts | 44 | €2,767 | €1,884 | -€883 | -31.9% |
| Suppliers | 440/4 | €2,767 | €1,884 | -€883 | -31.9% |
| Taxes, remuneration and social security | 45 | €131 | €0 | -€131 | -100.0% |
| Taxes | 450/3 | €131 | €0 | -€131 | -100.0% |
| Accrued charges and deferred income | 492/3 | €521,832 | €534,984 | +€13,152 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,403 | €9,789 | +€2,386 | +32.2% |
| Other operating charges | 640/8 | €1,665 | €1,203 | -€462 | -27.7% |
| Non-recurring operating charges | 66A | €7,019 | - | -€7,019 | |
| Gross operating margin | 9900 | €15,905 | €17,680 | +€1,775 | +11.2% |
| Operating profit (loss) | 9901 | -€182 | €6,688 | +€6,870 | |
| Financial income | 75/76B | €5,219 | €2,787 | -€2,432 | -46.6% |
| Recurring financial income | 75 | €5,219 | €2,787 | -€2,432 | -46.6% |
| Financial charges | 65/66B | €2,892 | €5,720 | +€2,828 | +97.8% |
| Recurring financial charges | 65 | €2,892 | €5,720 | +€2,828 | +97.8% |
| Profit (loss) for the period before taxes | 9903 | €2,145 | €3,755 | +€1,610 | +75.1% |
| Income taxes | 67/77 | €2,710 | €1,565 | -€1,145 | -42.3% |
| Profit (loss) for the period | 9904 | -€565 | €2,190 | +€2,755 | |
| Profit (loss) for the period to be appropriated | 9905 | -€565 | €2,190 | +€2,755 |
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.