Sarah De Ridder: 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.
Sarah De Ridder
Largest movements
- Receivables within one year +€18,657
up €18,657 (+69.4%), from €26,866 to €45,523
of which Other amounts receivable: +€11,762
- Cash -€7,306
down €7,306 (-34.3%), from €21,282 to €13,977
mainly Tax, wage and social debts (-€28,460) and Receivables within one year (-€18,657)
- Tangible fixed assets -€2,582
down €2,582 (-30.3%), from €8,511 to €5,929
- Reserves +€38,072
new in 2025: €38,072
- Tax, wage and social debts -€28,460
down €28,460 (-76.6%), from €37,173 to €8,713
of which Taxes: -€26,079
- Other debts -€3,000
down €3,000 (-100%), from €3,000 to €0
- Short-term financial debts +€2,617
up €2,617 (+23.0%), from €11,383 to €14,000
of which Other loans: +€3,000
- Gross operating margin +€23,103
up €23,103 (+68.9%), from €33,520 to €56,623
- Taxes -€5,310
down €5,310 (-28.6%), from €18,555 to €13,245
- Financial income -€1,974
down €1,974 (-60.8%), from €3,247 to €1,273
- Financial charges -€612
down €612 (-38.4%), from €1,594 to €982
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 | €57,622 | €66,392 | +€8,770 | +15.2% |
| Fixed assets | 21/28 | €8,511 | €5,929 | -€2,582 | -30.3% |
| Tangible fixed assets | 22/27 | €8,511 | €5,929 | -€2,582 | -30.3% |
| Furniture and vehicles | 24 | €8,511 | €5,929 | -€2,582 | -30.3% |
| Current assets | 29/58 | €49,111 | €60,462 | +€11,352 | +23.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €26,866 | €45,523 | +€18,657 | +69.4% |
| Trade receivables | 40 | - | €6,895 | +€6,895 | |
| Other amounts receivable | 41 | €26,866 | €38,628 | +€11,762 | +43.8% |
| Cash at bank and in hand | 54/58 | €21,282 | €13,977 | -€7,306 | -34.3% |
| Deferred charges and accrued income | 490/1 | €962 | €962 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €57,622 | €66,392 | +€8,770 | +15.2% |
| Equity | 10/15 | €1,000 | €39,072 | +€38,072 | +3,807% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €38,072 | +€38,072 | |
| Distributable reserves | 133 | - | €38,072 | +€38,072 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,622 | €27,320 | -€29,302 | -51.8% |
| Amounts payable within one year | 42/48 | €56,622 | €27,320 | -€29,302 | -51.8% |
| Financial debts | 43 | €11,383 | €14,000 | +€2,617 | +23.0% |
| Credit institutions | 430/8 | €383 | €0 | -€383 | -100% |
| Other loans | 439 | €11,000 | €14,000 | +€3,000 | +27.3% |
| Trade debts | 44 | €5,066 | €4,607 | -€459 | -9.1% |
| Suppliers | 440/4 | €5,066 | €4,607 | -€459 | -9.1% |
| Taxes, remuneration and social security | 45 | €37,173 | €8,713 | -€28,460 | -76.6% |
| Taxes | 450/3 | €34,792 | €8,713 | -€26,079 | -75.0% |
| Remuneration and social security | 454/9 | €2,381 | €0 | -€2,381 | -100% |
| Other amounts payable | 47/48 | €3,000 | €0 | -€3,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,286 | €2,582 | +€295 | +12.9% |
| Other operating charges | 640/8 | €2,853 | €3,016 | +€163 | +5.7% |
| Gross operating margin | 9900 | €33,520 | €56,623 | +€23,103 | +68.9% |
| Operating profit (loss) | 9901 | €28,380 | €51,025 | +€22,645 | +79.8% |
| Financial income | 75/76B | €3,247 | €1,273 | -€1,974 | -60.8% |
| Recurring financial income | 75 | €3,247 | €1,273 | -€1,974 | -60.8% |
| Financial charges | 65/66B | €1,594 | €982 | -€612 | -38.4% |
| Recurring financial charges | 65 | €1,594 | €982 | -€612 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €30,033 | €51,316 | +€21,283 | +70.9% |
| Income taxes | 67/77 | €18,555 | €13,245 | -€5,310 | -28.6% |
| Profit (loss) for the period | 9904 | €11,479 | €38,072 | +€26,593 | +232% |
| Profit (loss) for the period to be appropriated | 9905 | €11,479 | €38,072 | +€26,593 | +232% |
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 28 October 2026 via checked.be.