Sam Vermeersch: what changed
Sam Vermeersch
Largest movements
- Cash -€35,033
down €35,033 (-64.1%), from €54,692 to €19,659
mainly Contributions, distributions and other (-€78,327) and Tax, wage and social debts (-€2,169)
- Receivables within one year -€4,597
down €4,597 (-30.1%), from €15,288 to €10,690
of which Trade receivables: -€4,285
- Tangible fixed assets -€4,020
down €4,020 (-34.1%), from €11,796 to €7,776
of which Furniture and vehicles: -€3,914
- Deferred charges and accrued income -€834
down €834 (-82.5%), from €1,012 to €178
- Reserves -€54,080
down €54,080 (-85.4%), from €63,327 to €9,247
- Other debts +€10,474
up €10,474 (+345%), from €3,038 to €13,512
- Tax, wage and social debts -€2,169
down €2,169 (-16.2%), from €13,422 to €11,253
- Trade debts +€1,291
up €1,291, from €0 to €1,291
- Gross operating margin +€8,687
up €8,687 (+31.1%), from €27,897 to €36,584
- Depreciation +€3,160
up €3,160 (+257%), from €1,228 to €4,389
- Taxes +€835
up €835 (+13.0%), from €6,416 to €7,251
- Financial charges -€618
down €618 (-85.4%), from €724 to €106
- Other operating charges +€410
up €410 (+226%), from €182 to €592
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,787 | €38,303 | -€44,484 | -53.7% |
| Fixed assets | 21/28 | €11,796 | €7,776 | -€4,020 | -34.1% |
| Tangible fixed assets | 22/27 | €11,796 | €7,776 | -€4,020 | -34.1% |
| Plant, machinery and equipment | 23 | €106 | €0 | -€106 | -100% |
| Furniture and vehicles | 24 | €11,690 | €7,776 | -€3,914 | -33.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €70,991 | €30,527 | -€40,465 | -57.0% |
| Amounts receivable within one year | 40/41 | €15,288 | €10,690 | -€4,597 | -30.1% |
| Trade receivables | 40 | €13,773 | €9,488 | -€4,285 | -31.1% |
| Other amounts receivable | 41 | €1,515 | €1,203 | -€312 | -20.6% |
| Cash at bank and in hand | 54/58 | €54,692 | €19,659 | -€35,033 | -64.1% |
| Deferred charges and accrued income | 490/1 | €1,012 | €178 | -€834 | -82.5% |
| Total equity and liabilities | 10/49 | €82,787 | €38,303 | -€44,484 | -53.7% |
| Equity | 10/15 | €66,327 | €12,247 | -€54,080 | -81.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €63,327 | €9,247 | -€54,080 | -85.4% |
| Distributable reserves | 133 | €63,327 | €9,247 | -€54,080 | -85.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €16,460 | €26,056 | +€9,596 | +58.3% |
| Amounts payable within one year | 42/48 | €16,460 | €26,056 | +€9,596 | +58.3% |
| Trade debts | 44 | €0 | €1,291 | +€1,291 | |
| Suppliers | 440/4 | €0 | €1,291 | +€1,291 | |
| Taxes, remuneration and social security | 45 | €13,422 | €11,253 | -€2,169 | -16.2% |
| Taxes | 450/3 | €13,422 | €11,253 | -€2,169 | -16.2% |
| Other amounts payable | 47/48 | €3,038 | €13,512 | +€10,474 | +345% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,228 | €4,389 | +€3,160 | +257% |
| Other operating charges | 640/8 | €182 | €592 | +€410 | +226% |
| Gross operating margin | 9900 | €27,897 | €36,584 | +€8,687 | +31.1% |
| Operating profit (loss) | 9901 | €26,487 | €31,603 | +€5,117 | +19.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €724 | €106 | -€618 | -85.4% |
| Recurring financial charges | 65 | €724 | €106 | -€618 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €25,763 | €31,498 | +€5,735 | +22.3% |
| Income taxes | 67/77 | €6,416 | €7,251 | +€835 | +13.0% |
| Profit (loss) for the period | 9904 | €19,347 | €24,247 | +€4,900 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,347 | €24,247 | +€4,900 | +25.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.