Sébastien MOENS: 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.
Sébastien MOENS
Largest movements
- Cash -€26,282
down €26,282 (-15.7%), from €167,308 to €141,026
mainly Other debts (-€82,318) and Deferred charges and accrued income (-€2,768)
- Receivables within one year -€2,836
down €2,836 (-26.2%), from €10,844 to €8,008
- Deferred charges and accrued income +€2,768
up €2,768 (+239%), from €1,157 to €3,925
- Other debts -€82,318
down €82,318 (-71.3%), from €115,402 to €33,084
- Profit (loss) carried forward +€50,161
new in 2025: €50,161
- Tax, wage and social debts +€5,989
up €5,989 (+11.4%), from €52,646 to €58,635
of which Taxes: +€8,989
- Gross operating margin -€43,539
down €43,539 (-37.5%), from €116,145 to €72,606
- Taxes -€10,970
down €10,970 (-38.8%), from €28,308 to €17,338
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 | €187,629 | €161,078 | -€26,550 | -14.2% |
| Fixed assets | 21/28 | €8,319 | €8,119 | -€200 | -2.4% |
| Tangible fixed assets | 22/27 | €8,319 | €8,119 | -€200 | -2.4% |
| Plant, machinery and equipment | 23 | €2,569 | €3,539 | +€970 | +37.7% |
| Furniture and vehicles | 24 | €2,274 | €1,239 | -€1,036 | -45.5% |
| Leasing and similar rights | 25 | €3,208 | €3,208 | = | 0.0% |
| Other tangible fixed assets | 26 | €268 | €134 | -€134 | -50.0% |
| Current assets | 29/58 | €179,310 | €152,960 | -€26,350 | -14.7% |
| Amounts receivable within one year | 40/41 | €10,844 | €8,008 | -€2,836 | -26.2% |
| Trade receivables | 40 | €10,844 | €8,008 | -€2,836 | -26.2% |
| Cash at bank and in hand | 54/58 | €167,308 | €141,026 | -€26,282 | -15.7% |
| Deferred charges and accrued income | 490/1 | €1,157 | €3,925 | +€2,768 | +239% |
| Total equity and liabilities | 10/49 | €187,629 | €161,078 | -€26,550 | -14.2% |
| Equity | 10/15 | €18,600 | €68,761 | +€50,161 | +270% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €50,161 | +€50,161 | |
| Amounts payable | 17/49 | €169,029 | €92,318 | -€76,711 | -45.4% |
| Amounts payable within one year | 42/48 | €169,029 | €92,318 | -€76,711 | -45.4% |
| Trade debts | 44 | €981 | €599 | -€382 | -38.9% |
| Suppliers | 440/4 | €981 | €599 | -€382 | -38.9% |
| Taxes, remuneration and social security | 45 | €52,646 | €58,635 | +€5,989 | +11.4% |
| Taxes | 450/3 | €49,646 | €58,635 | +€8,989 | +18.1% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €115,402 | €33,084 | -€82,318 | -71.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,914 | €2,414 | +€499 | +26.1% |
| Other operating charges | 640/8 | €2,731 | €2,530 | -€200 | -7.3% |
| Gross operating margin | 9900 | €116,145 | €72,606 | -€43,539 | -37.5% |
| Operating profit (loss) | 9901 | €111,500 | €67,662 | -€43,838 | -39.3% |
| Financial income | 75/76B | - | €18 | +€18 | |
| Recurring financial income | 75 | - | €18 | +€18 | |
| Financial charges | 65/66B | €367 | €181 | -€186 | -50.6% |
| Recurring financial charges | 65 | €367 | €181 | -€186 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | €111,133 | €67,498 | -€43,634 | -39.3% |
| Income taxes | 67/77 | €28,308 | €17,338 | -€10,970 | -38.8% |
| Profit (loss) for the period | 9904 | €82,825 | €50,161 | -€32,664 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €82,825 | €50,161 | -€32,664 | -39.4% |
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.