Sanne Deneckere: what changed
Sanne Deneckere
Largest movements
- Cash -€24,009
down €24,009 (-26.2%), from €91,709 to €67,699
mainly Contributions, distributions and other (-€197,254) and Investment in fixed assets (net) (-€5,363)
- Receivables within one year -€16,790
down €16,790 (-56.7%), from €29,597 to €12,806
of which Other amounts receivable: -€18,200
- Current investments +€3,000
up €3,000 (+85.7%), from €3,500 to €6,500
- Tangible fixed assets +€2,930
up €2,930 (+40.9%), from €7,169 to €10,100
- Reserves -€111,247
down €111,247 (-100%), from €111,247 to €0
- Other debts +€79,331
up €79,331 (+24,282%), from €327 to €79,657
- Tax, wage and social debts -€4,392
down €4,392 (-35.6%), from €12,328 to €7,936
- Accrued charges and deferred income +€1,448
up €1,448 (+34.8%), from €4,163 to €5,611
- Gross operating margin +€49,465
up €49,465 (+78.0%), from €63,392 to €112,856
- Taxes +€10,861
up €10,861 (+84.0%), from €12,930 to €23,790
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 | €134,647 | €98,498 | -€36,149 | -26.8% |
| Fixed assets | 21/28 | €7,169 | €10,100 | +€2,930 | +40.9% |
| Tangible fixed assets | 22/27 | €7,169 | €10,100 | +€2,930 | +40.9% |
| Plant, machinery and equipment | 23 | €7,169 | €10,100 | +€2,930 | +40.9% |
| Current assets | 29/58 | €127,477 | €88,398 | -€39,079 | -30.7% |
| Amounts receivable within one year | 40/41 | €29,597 | €12,806 | -€16,790 | -56.7% |
| Trade receivables | 40 | €11,397 | €12,806 | +€1,410 | +12.4% |
| Other amounts receivable | 41 | €18,200 | €0 | -€18,200 | -100% |
| Current investments | 50/53 | €3,500 | €6,500 | +€3,000 | +85.7% |
| Cash at bank and in hand | 54/58 | €91,709 | €67,699 | -€24,009 | -26.2% |
| Deferred charges and accrued income | 490/1 | €2,672 | €1,392 | -€1,279 | -47.9% |
| Total equity and liabilities | 10/49 | €134,647 | €98,498 | -€36,149 | -26.8% |
| Equity | 10/15 | €116,247 | €5,000 | -€111,247 | -95.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €111,247 | €0 | -€111,247 | -100% |
| Distributable reserves | 133 | €111,247 | €0 | -€111,247 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,400 | €93,498 | +€75,098 | +408% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €14,236 | €87,887 | +€73,650 | +517% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,581 | €294 | -€1,288 | -81.4% |
| Suppliers | 440/4 | €1,581 | €294 | -€1,288 | -81.4% |
| Taxes, remuneration and social security | 45 | €12,328 | €7,936 | -€4,392 | -35.6% |
| Taxes | 450/3 | €12,328 | €7,936 | -€4,392 | -35.6% |
| Other amounts payable | 47/48 | €327 | €79,657 | +€79,331 | +24,282% |
| Accrued charges and deferred income | 492/3 | €4,163 | €5,611 | +€1,448 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,546 | €2,433 | +€887 | +57.4% |
| Other operating charges | 640/8 | €252 | €528 | +€276 | +109% |
| Non-recurring operating charges | 66A | €391 | €405 | +€14 | +3.5% |
| Gross operating margin | 9900 | €63,392 | €112,856 | +€49,465 | +78.0% |
| Operating profit (loss) | 9901 | €61,202 | €109,490 | +€48,288 | +78.9% |
| Financial income | 75/76B | €299 | €467 | +€169 | +56.6% |
| Recurring financial income | 75 | €299 | €467 | +€169 | +56.6% |
| Financial charges | 65/66B | €308 | €161 | -€147 | -47.8% |
| Recurring financial charges | 65 | €308 | €161 | -€147 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €61,193 | €109,797 | +€48,604 | +79.4% |
| Income taxes | 67/77 | €12,930 | €23,790 | +€10,861 | +84.0% |
| Profit (loss) for the period | 9904 | €48,263 | €86,007 | +€37,744 | +78.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,263 | €86,007 | +€37,744 | +78.2% |
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 4 November 2026 via checked.be.