Sara Pieters: what changed
Sara Pieters
Largest movements
- Receivables within one year +€93,500
new in 2025: €93,500
- Cash -€21,706
down €21,706 (-39.9%), from €54,452 to €32,746
mainly Receivables within one year (-€93,500) and Investment in fixed assets (net) (-€5,439)
- Tangible fixed assets +€4,427
new in 2025: €4,427
- Reserves +€67,821
up €67,821 (+307%), from €22,109 to €89,929
- Tax, wage and social debts +€9,347
up €9,347 (+60.8%), from €15,378 to €24,726
- Other debts -€3,496
down €3,496 (-88.7%), from €3,940 to €444
- Trade debts +€2,108
up €2,108 (+250%), from €843 to €2,951
- Gross operating margin +€55,769
up €55,769 (+182%), from €30,621 to €86,390
- Taxes +€8,783
up €8,783 (+104%), from €8,462 to €17,245
- Depreciation +€1,013
new in 2025: €1,013
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 | €57,270 | €133,049 | +€75,780 | +132% |
| Fixed assets | 21/28 | - | €4,427 | +€4,427 | |
| Tangible fixed assets | 22/27 | - | €4,427 | +€4,427 | |
| Furniture and vehicles | 24 | - | €4,427 | +€4,427 | |
| Current assets | 29/58 | €57,270 | €128,623 | +€71,353 | +125% |
| Amounts receivable within one year | 40/41 | - | €93,500 | +€93,500 | |
| Other amounts receivable | 41 | - | €93,500 | +€93,500 | |
| Cash at bank and in hand | 54/58 | €54,452 | €32,746 | -€21,706 | -39.9% |
| Deferred charges and accrued income | 490/1 | €2,817 | €2,376 | -€441 | -15.6% |
| Total equity and liabilities | 10/49 | €57,270 | €133,049 | +€75,780 | +132% |
| Equity | 10/15 | €37,109 | €104,929 | +€67,821 | +183% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €22,109 | €89,929 | +€67,821 | +307% |
| Distributable reserves | 133 | €22,109 | €89,929 | +€67,821 | +307% |
| Amounts payable | 17/49 | €20,161 | €28,120 | +€7,959 | +39.5% |
| Amounts payable within one year | 42/48 | €20,161 | €28,120 | +€7,959 | +39.5% |
| Trade debts | 44 | €843 | €2,951 | +€2,108 | +250% |
| Suppliers | 440/4 | €843 | €2,951 | +€2,108 | +250% |
| Taxes, remuneration and social security | 45 | €15,378 | €24,726 | +€9,347 | +60.8% |
| Taxes | 450/3 | €15,378 | €24,726 | +€9,347 | +60.8% |
| Other amounts payable | 47/48 | €3,940 | €444 | -€3,496 | -88.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,013 | +€1,013 | |
| Other operating charges | 640/8 | €50 | €125 | +€75 | +150% |
| Gross operating margin | 9900 | €30,621 | €86,390 | +€55,769 | +182% |
| Operating profit (loss) | 9901 | €30,571 | €85,252 | +€54,681 | +179% |
| Financial charges | 65/66B | - | €186 | +€186 | |
| Recurring financial charges | 65 | - | €186 | +€186 | |
| Profit (loss) for the period before taxes | 9903 | €30,571 | €85,066 | +€54,495 | +178% |
| Income taxes | 67/77 | €8,462 | €17,245 | +€8,783 | +104% |
| Profit (loss) for the period | 9904 | €22,109 | €67,821 | +€45,712 | +207% |
| Profit (loss) for the period to be appropriated | 9905 | €22,109 | €67,821 | +€45,712 | +207% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.