SIMON DUERINCKX: 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.
SIMON DUERINCKX
Largest movements
- Receivables within one year +€15,350
up €15,350 (+33.3%), from €46,090 to €61,439
of which Other amounts receivable: +€15,295
- Cash -€12,141
down €12,141 (-8.0%), from €151,624 to €139,483
mainly Contributions, distributions and other (-€60,931) and Receivables within one year (-€15,350)
- Tangible fixed assets -€7,491
down €7,491 (-16.4%), from €45,815 to €38,323
of which Furniture and vehicles: -€8,305
- Receivables after one year -€5,730
down €5,730 (-9.6%), from €59,730 to €54,000
- Other debts +€22,744
up €22,744 (+49.7%), from €45,773 to €68,517
- Reserves -€15,000
down €15,000 (-9.2%), from €162,490 to €147,490
- Tax, wage and social debts -€11,787
down €11,787 (-24.9%), from €47,259 to €35,472
- Debts after one year -€6,239
down €6,239 (-26.9%), from €23,174 to €16,935
- Gross operating margin +€11,466
up €11,466 (+18.6%), from €61,623 to €73,089
- Depreciation +€3,299
up €3,299 (+34.5%), from €9,561 to €12,860
- Financial charges +€1,358
up €1,358 (+112%), from €1,213 to €2,571
- Taxes +€1,049
up €1,049 (+8.6%), from €12,216 to €13,266
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 | €306,807 | €296,275 | -€10,532 | -3.4% |
| Fixed assets | 21/28 | €48,328 | €39,544 | -€8,784 | -18.2% |
| Intangible fixed assets | 21 | €2,513 | €1,220 | -€1,293 | -51.4% |
| Tangible fixed assets | 22/27 | €45,815 | €38,323 | -€7,491 | -16.4% |
| Furniture and vehicles | 24 | €45,815 | €37,510 | -€8,305 | -18.1% |
| Other tangible fixed assets | 26 | - | €813 | +€813 | |
| Current assets | 29/58 | €258,479 | €256,731 | -€1,748 | -0.7% |
| Amounts receivable after more than one year | 29 | €59,730 | €54,000 | -€5,730 | -9.6% |
| Other amounts receivable | 291 | €59,730 | €54,000 | -€5,730 | -9.6% |
| Amounts receivable within one year | 40/41 | €46,090 | €61,439 | +€15,350 | +33.3% |
| Trade receivables | 40 | €8,148 | €8,202 | +€54 | +0.7% |
| Other amounts receivable | 41 | €37,942 | €53,237 | +€15,295 | +40.3% |
| Cash at bank and in hand | 54/58 | €151,624 | €139,483 | -€12,141 | -8.0% |
| Deferred charges and accrued income | 490/1 | €1,035 | €1,809 | +€774 | +74.7% |
| Total equity and liabilities | 10/49 | €306,807 | €296,275 | -€10,532 | -3.4% |
| Equity | 10/15 | €181,090 | €166,090 | -€15,000 | -8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €162,490 | €147,490 | -€15,000 | -9.2% |
| Distributable reserves | 133 | €162,490 | €147,490 | -€15,000 | -9.2% |
| Amounts payable | 17/49 | €125,716 | €130,184 | +€4,468 | +3.6% |
| Amounts payable after more than one year | 17 | €23,174 | €16,935 | -€6,239 | -26.9% |
| Financial debts | 170/4 | €23,174 | €16,935 | -€6,239 | -26.9% |
| Amounts payable within one year | 42/48 | €102,543 | €113,250 | +€10,707 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €5,954 | €6,239 | +€285 | +4.8% |
| Trade debts | 44 | €3,556 | €3,021 | -€535 | -15.0% |
| Suppliers | 440/4 | €3,556 | €3,021 | -€535 | -15.0% |
| Taxes, remuneration and social security | 45 | €47,259 | €35,472 | -€11,787 | -24.9% |
| Taxes | 450/3 | €47,259 | €35,472 | -€11,787 | -24.9% |
| Other amounts payable | 47/48 | €45,773 | €68,517 | +€22,744 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,561 | €12,860 | +€3,299 | +34.5% |
| Other operating charges | 640/8 | €394 | €234 | -€160 | -40.6% |
| Gross operating margin | 9900 | €61,623 | €73,089 | +€11,466 | +18.6% |
| Operating profit (loss) | 9901 | €51,668 | €59,996 | +€8,327 | +16.1% |
| Financial income | 75/76B | €1,687 | €1,772 | +€86 | +5.1% |
| Recurring financial income | 75 | €1,687 | €1,772 | +€86 | +5.1% |
| Financial charges | 65/66B | €1,213 | €2,571 | +€1,358 | +112% |
| Recurring financial charges | 65 | €1,213 | €2,571 | +€1,358 | +112% |
| Profit (loss) for the period before taxes | 9903 | €52,142 | €59,197 | +€7,055 | +13.5% |
| Income taxes | 67/77 | €12,216 | €13,266 | +€1,049 | +8.6% |
| Profit (loss) for the period | 9904 | €39,926 | €45,931 | +€6,005 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,926 | €45,931 | +€6,005 | +15.0% |
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 15 October 2026 via checked.be.