Robin De Bleser: 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.
Robin De Bleser
Largest movements
- Tangible fixed assets +€57,081
up €57,081 (+99.1%), from €57,582 to €114,663
of which Furniture and vehicles: +€59,451
- Cash -€37,865
down €37,865 (-51.5%), from €73,552 to €35,687
mainly Investment in fixed assets (net) (-€92,313) and Receivables within one year (-€15,492)
- Receivables within one year +€15,492
up €15,492 (+40.2%), from €38,533 to €54,026
of which Other amounts receivable: +€13,486
- Debts after one year +€35,502
up €35,502 (+186%), from €19,078 to €54,580
- Current portion of long-term debt -€10,018
down €10,018 (-26.7%), from €37,590 to €27,572
- Other debts +€6,275
up €6,275 (+13.5%), from €46,364 to €52,638
- Reserves +€5,000
up €5,000 (+8.3%), from €60,309 to €65,309
- Tax, wage and social debts -€3,571
down €3,571 (-30.6%), from €11,657 to €8,086
of which Taxes: -€2,399
- Gross operating margin -€21,685
down €21,685 (-10.3%), from €210,333 to €188,649
- Depreciation -€15,787
down €15,787 (-30.6%), from €51,519 to €35,732
- Staff costs -€13,262
down €13,262 (-8.9%), from €149,192 to €135,930
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 | €198,168 | €230,122 | +€31,954 | +16.1% |
| Fixed assets | 21/28 | €60,503 | €117,085 | +€56,581 | +93.5% |
| Intangible fixed assets | 21 | €2,321 | €1,821 | -€500 | -21.5% |
| Tangible fixed assets | 22/27 | €57,582 | €114,663 | +€57,081 | +99.1% |
| Plant, machinery and equipment | 23 | €10,006 | €7,636 | -€2,370 | -23.7% |
| Furniture and vehicles | 24 | €47,577 | €107,028 | +€59,451 | +125% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €137,664 | €113,038 | -€24,627 | -17.9% |
| Stocks and contracts in progress | 3 | €18,000 | €18,000 | = | 0.0% |
| Stocks | 30/36 | €18,000 | €18,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €38,533 | €54,026 | +€15,492 | +40.2% |
| Trade receivables | 40 | €37,675 | €39,681 | +€2,006 | +5.3% |
| Other amounts receivable | 41 | €858 | €14,344 | +€13,486 | +1,572% |
| Cash at bank and in hand | 54/58 | €73,552 | €35,687 | -€37,865 | -51.5% |
| Deferred charges and accrued income | 490/1 | €7,579 | €5,325 | -€2,254 | -29.7% |
| Total equity and liabilities | 10/49 | €198,168 | €230,122 | +€31,954 | +16.1% |
| Equity | 10/15 | €61,267 | €68,309 | +€7,042 | +11.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €60,309 | €65,309 | +€5,000 | +8.3% |
| Distributable reserves | 133 | €60,309 | €65,309 | +€5,000 | +8.3% |
| Profit (loss) carried forward | 14 | -€2,042 | - | +€2,042 | |
| Amounts payable | 17/49 | €136,900 | €161,813 | +€24,913 | +18.2% |
| Amounts payable after more than one year | 17 | €19,078 | €54,580 | +€35,502 | +186% |
| Financial debts | 170/4 | €19,078 | €54,580 | +€35,502 | +186% |
| Amounts payable within one year | 42/48 | €117,205 | €107,217 | -€9,988 | -8.5% |
| Current portion of amounts payable after more than one year | 42 | €37,590 | €27,572 | -€10,018 | -26.7% |
| Financial debts | 43 | €768 | €155 | -€612 | -79.8% |
| Credit institutions | 430/8 | €768 | €155 | -€612 | -79.8% |
| Trade debts | 44 | €20,827 | €18,765 | -€2,062 | -9.9% |
| Suppliers | 440/4 | €20,827 | €18,765 | -€2,062 | -9.9% |
| Taxes, remuneration and social security | 45 | €11,657 | €8,086 | -€3,571 | -30.6% |
| Taxes | 450/3 | €9,515 | €7,116 | -€2,399 | -25.2% |
| Remuneration and social security | 454/9 | €2,142 | €970 | -€1,172 | -54.7% |
| Other amounts payable | 47/48 | €46,364 | €52,638 | +€6,275 | +13.5% |
| Accrued charges and deferred income | 492/3 | €617 | €16 | -€601 | -97.4% |
| Remuneration, social security and pensions | 62 | €149,192 | €135,930 | -€13,262 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,519 | €35,732 | -€15,787 | -30.6% |
| Other operating charges | 640/8 | €3,163 | €3,152 | -€11 | -0.4% |
| Gross operating margin | 9900 | €210,333 | €188,649 | -€21,685 | -10.3% |
| Operating profit (loss) | 9901 | €6,459 | €13,836 | +€7,376 | +114% |
| Financial income | 75/76B | €73 | €260 | +€187 | +256% |
| Recurring financial income | 75 | €73 | €260 | +€187 | +256% |
| Financial charges | 65/66B | €5,593 | €5,140 | -€453 | -8.1% |
| Recurring financial charges | 65 | €5,593 | €5,140 | -€453 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | €939 | €8,955 | +€8,016 | +853% |
| Income taxes | 67/77 | €2,981 | €1,914 | -€1,067 | -35.8% |
| Profit (loss) for the period | 9904 | -€2,042 | €7,042 | +€9,083 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,042 | €7,042 | +€9,083 |
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 16 October 2026 via checked.be.