SARAH SCHOEFS: 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 SCHOEFS
Largest movements
- Cash +€67,157
up €67,157 (+209%), from €32,204 to €99,361
mainly Net result for the year (+€66,622) and Receivables within one year (+€5,621)
- Receivables within one year -€5,621
down €5,621 (-36.1%), from €15,591 to €9,970
of which Trade receivables: -€9,966
- Deferred charges and accrued income +€2,662
new in 2025: €2,662
- Reserves +€66,622
up €66,622 (+173%), from €38,499 to €105,121
- Tax, wage and social debts -€3,733
down €3,733 (-100%), from €3,733 to €0
- Other debts +€2,119
up €2,119 (+82.7%), from €2,563 to €4,683
- Gross operating margin +€29,311
up €29,311 (+53.7%), from €54,576 to €83,887
- Taxes +€3,823
up €3,823 (+29.8%), from €12,833 to €16,655
- Depreciation -€2,539
down €2,539 (-87.5%), from €2,902 to €363
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 | €47,795 | €112,803 | +€65,008 | +136% |
| Fixed assets | 21/28 | - | €810 | +€810 | |
| Tangible fixed assets | 22/27 | - | €810 | +€810 | |
| Furniture and vehicles | 24 | - | €810 | +€810 | |
| Current assets | 29/58 | €47,795 | €111,993 | +€64,198 | +134% |
| Amounts receivable within one year | 40/41 | €15,591 | €9,970 | -€5,621 | -36.1% |
| Trade receivables | 40 | €15,591 | €5,625 | -€9,966 | -63.9% |
| Other amounts receivable | 41 | - | €4,345 | +€4,345 | |
| Cash at bank and in hand | 54/58 | €32,204 | €99,361 | +€67,157 | +209% |
| Deferred charges and accrued income | 490/1 | - | €2,662 | +€2,662 | |
| Total equity and liabilities | 10/49 | €47,795 | €112,803 | +€65,008 | +136% |
| Equity | 10/15 | €41,499 | €108,121 | +€66,622 | +161% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €38,499 | €105,121 | +€66,622 | +173% |
| Distributable reserves | 133 | €38,499 | €105,121 | +€66,622 | +173% |
| Amounts payable | 17/49 | €6,296 | €4,683 | -€1,614 | -25.6% |
| Amounts payable within one year | 42/48 | €6,296 | €4,683 | -€1,614 | -25.6% |
| Taxes, remuneration and social security | 45 | €3,733 | €0 | -€3,733 | -100% |
| Taxes | 450/3 | €3,733 | €0 | -€3,733 | -100% |
| Other amounts payable | 47/48 | €2,563 | €4,683 | +€2,119 | +82.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,902 | €363 | -€2,539 | -87.5% |
| Gross operating margin | 9900 | €54,576 | €83,887 | +€29,311 | +53.7% |
| Operating profit (loss) | 9901 | €51,674 | €83,524 | +€31,850 | +61.6% |
| Financial charges | 65/66B | €343 | €247 | -€96 | -28.0% |
| Recurring financial charges | 65 | €343 | €247 | -€96 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €51,332 | €83,277 | +€31,946 | +62.2% |
| Income taxes | 67/77 | €12,833 | €16,655 | +€3,823 | +29.8% |
| Profit (loss) for the period | 9904 | €38,499 | €66,622 | +€28,123 | +73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,499 | €66,622 | +€28,123 | +73.0% |
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 27 October 2026 via checked.be.