Sarah van Loock: what changed
Sarah van Loock
Largest movements
- Receivables within one year +€204,012
up €204,012 (+99.8%), from €204,378 to €408,389
of which Other amounts receivable: +€188,512
- Tangible fixed assets -€53,013
down €53,013 (-3.4%), from €1.5m to €1.5m
of which Land and buildings: -€84,189
- Intangible fixed assets +€47,329
new in 2025: €47,329
- Cash -€30,262
down €30,262 (-9.4%), from €321,658 to €291,396
mainly Contributions, distributions and other (-€490,329) and Receivables within one year (-€204,012)
- Other debts +€457,419
up €457,419 (+9,288%), from €4,925 to €462,344
- Reserves -€359,752
down €359,752 (-26.3%), from €1.4m to €1.0m
of which Distributable reserves: -€359,752
- Current portion of long-term debt +€76,029
up €76,029 (+165%), from €46,180 to €122,209
- Debts after one year -€55,801
down €55,801 (-16.1%), from €346,647 to €290,846
- Trade debts +€53,811
up €53,811 (+344%), from €15,637 to €69,449
- Gross operating margin -€155,223
down €155,223 (-15.0%), from €1.0m to €878,255
- Taxes -€79,631
down €79,631 (-54.4%), from €146,326 to €66,695
- Staff costs +€72,283
up €72,283 (+15.7%), from €461,258 to €533,541
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 | €2,180,007 | €2,362,857 | +€182,851 | +8.4% |
| Fixed assets | 21/28 | €1,560,657 | €1,554,972 | -€5,685 | -0.4% |
| Intangible fixed assets | 21 | - | €47,329 | +€47,329 | |
| Tangible fixed assets | 22/27 | €1,545,657 | €1,492,643 | -€53,013 | -3.4% |
| Land and buildings | 22 | €1,517,020 | €1,432,831 | -€84,189 | -5.5% |
| Plant, machinery and equipment | 23 | €7,388 | €4,986 | -€2,402 | -32.5% |
| Furniture and vehicles | 24 | €21,249 | €54,826 | +€33,577 | +158% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €619,350 | €807,885 | +€188,535 | +30.4% |
| Amounts receivable within one year | 40/41 | €204,378 | €408,389 | +€204,012 | +99.8% |
| Trade receivables | 40 | - | €15,500 | +€15,500 | |
| Other amounts receivable | 41 | €204,378 | €392,889 | +€188,512 | +92.2% |
| Cash at bank and in hand | 54/58 | €321,658 | €291,396 | -€30,262 | -9.4% |
| Deferred charges and accrued income | 490/1 | €93,314 | €108,100 | +€14,786 | +15.8% |
| Total equity and liabilities | 10/49 | €2,180,007 | €2,362,857 | +€182,851 | +8.4% |
| Equity | 10/15 | €1,538,078 | €1,178,326 | -€359,752 | -23.4% |
| Contributions | 10/11 | €86,500 | €86,500 | = | 0.0% |
| Reserves | 13 | €1,365,400 | €1,005,648 | -€359,752 | -26.3% |
| Non-distributable reserves | 130/1 | €9,950 | €9,950 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,950 | €9,950 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,336,700 | €976,948 | -€359,752 | -26.9% |
| Profit (loss) carried forward | 14 | €86,178 | €86,178 | = | 0.0% |
| Amounts payable | 17/49 | €641,928 | €1,184,531 | +€542,603 | +84.5% |
| Amounts payable after more than one year | 17 | €346,647 | €290,846 | -€55,801 | -16.1% |
| Financial debts | 170/4 | €346,647 | €290,846 | -€55,801 | -16.1% |
| Amounts payable within one year | 42/48 | €295,281 | €893,685 | +€598,404 | +203% |
| Current portion of amounts payable after more than one year | 42 | €46,180 | €122,209 | +€76,029 | +165% |
| Trade debts | 44 | €15,637 | €69,449 | +€53,811 | +344% |
| Suppliers | 440/4 | €15,637 | €69,449 | +€53,811 | +344% |
| Taxes, remuneration and social security | 45 | €228,539 | €239,683 | +€11,144 | +4.9% |
| Taxes | 450/3 | €181,028 | €165,441 | -€15,587 | -8.6% |
| Remuneration and social security | 454/9 | €47,511 | €74,242 | +€26,731 | +56.3% |
| Other amounts payable | 47/48 | €4,925 | €462,344 | +€457,419 | +9,288% |
| Remuneration, social security and pensions | 62 | €461,258 | €533,541 | +€72,283 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,780 | €135,002 | +€7,222 | +5.7% |
| Other operating charges | 640/8 | €2,559 | €3,245 | +€687 | +26.8% |
| Gross operating margin | 9900 | €1,033,477 | €878,255 | -€155,223 | -15.0% |
| Operating profit (loss) | 9901 | €441,881 | €206,467 | -€235,414 | -53.3% |
| Financial income | 75/76B | €400 | €1,841 | +€1,441 | +361% |
| Recurring financial income | 75 | €400 | €1,841 | +€1,441 | +361% |
| Financial charges | 65/66B | €7,724 | €11,036 | +€3,311 | +42.9% |
| Recurring financial charges | 65 | €7,724 | €11,036 | +€3,311 | +42.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €434,556 | €197,272 | -€237,284 | -54.6% |
| Income taxes | 67/77 | €146,326 | €66,695 | -€79,631 | -54.4% |
| Profit (loss) for the period | 9904 | €288,230 | €130,578 | -€157,653 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €288,230 | €130,578 | -€157,653 | -54.7% |
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 2 November 2026 via checked.be.