Sofie Van Doninck: what changed
Two fiscal 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.
Sofie Van Doninck
Largest movements
- Receivables within one year +€112,431
up €112,431 (+58.2%), from €193,124 to €305,555
of which Other amounts receivable: +€106,713
- Receivables after one year +€72,451
up €72,451 (+18.9%), from €383,388 to €455,839
- Reserves +€118,434
up €118,434 (+17.1%), from €691,742 to €810,176
of which Distributable reserves: +€122,769
- Tax, wage and social debts +€83,852
up €83,852 (+84.6%), from €99,161 to €183,013
of which Taxes: +€86,652
- Debts after one year -€52,999
down €52,999 (-6.2%), from €860,092 to €807,094
- Gross operating margin +€175,029
up €175,029 (+60.5%), from €289,145 to €464,174
- Taxes +€40,810
up €40,810 (+63.2%), from €64,609 to €105,419
- Other operating charges +€16,563
up €16,563 (+416.1%), from €3,980 to €20,543
- Depreciation +€8,451
up €8,451 (+27.1%), from €31,191 to €39,643
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.
Cash bridge derived
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 | €1,790,104 | €1,951,625 | +€161,521 | +9.0% |
| Fixed assets | 21/28 | €1,003,053 | €992,363 | -€10,690 | -1.1% |
| Tangible fixed assets | 22/27 | €1,003,053 | €992,363 | -€10,690 | -1.1% |
| Land and buildings | 22 | €964,913 | €963,681 | -€1,232 | -0.1% |
| Plant, machinery and equipment | 23 | €12,632 | €8,877 | -€3,755 | -29.7% |
| Furniture and vehicles | 24 | €25,508 | €19,805 | -€5,703 | -22.4% |
| Current assets | 29/58 | €787,051 | €959,262 | +€172,211 | +21.9% |
| Amounts receivable after more than one year | 29 | €383,388 | €455,839 | +€72,451 | +18.9% |
| Other amounts receivable | 291 | €383,388 | €455,839 | +€72,451 | +18.9% |
| Amounts receivable within one year | 40/41 | €193,124 | €305,555 | +€112,431 | +58.2% |
| Trade receivables | 40 | €2,000 | €7,717 | +€5,717 | +285.9% |
| Other amounts receivable | 41 | €191,124 | €297,837 | +€106,713 | +55.8% |
| Cash at bank and in hand | 54/58 | €207,949 | €192,983 | -€14,966 | -7.2% |
| Deferred charges and accrued income | 490/1 | €2,590 | €4,885 | +€2,295 | +88.6% |
| Total equity and liabilities | 10/49 | €1,790,104 | €1,951,625 | +€161,521 | +9.0% |
| Equity | 10/15 | €710,342 | €828,776 | +€118,434 | +16.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €691,742 | €810,176 | +€118,434 | +17.1% |
| Tax-exempt reserves | 132 | €139,578 | €135,243 | -€4,335 | -3.1% |
| Distributable reserves | 133 | €552,164 | €674,933 | +€122,769 | +22.2% |
| Provisions and deferred taxes | 16 | €46,526 | €45,081 | -€1,445 | -3.1% |
| Deferred taxes | 168 | €46,526 | €45,081 | -€1,445 | -3.1% |
| Amounts payable | 17/49 | €1,033,236 | €1,077,769 | +€44,532 | +4.3% |
| Amounts payable after more than one year | 17 | €860,092 | €807,094 | -€52,999 | -6.2% |
| Financial debts | 170/4 | €860,092 | €807,094 | -€52,999 | -6.2% |
| Amounts payable within one year | 42/48 | €166,967 | €265,208 | +€98,241 | +58.8% |
| Current portion of amounts payable after more than one year | 42 | €54,320 | €52,999 | -€1,322 | -2.4% |
| Trade debts | 44 | €13,486 | €29,197 | +€15,711 | +116.5% |
| Suppliers | 440/4 | €13,486 | €29,197 | +€15,711 | +116.5% |
| Taxes, remuneration and social security | 45 | €99,161 | €183,013 | +€83,852 | +84.6% |
| Taxes | 450/3 | €96,361 | €183,013 | +€86,652 | +89.9% |
| Remuneration and social security | 454/9 | €2,800 | - | -€2,800 | |
| Accrued charges and deferred income | 492/3 | €6,177 | €5,467 | -€710 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,191 | €39,643 | +€8,451 | +27.1% |
| Other operating charges | 640/8 | €3,980 | €20,543 | +€16,563 | +416.1% |
| Gross operating margin | 9900 | €289,145 | €464,174 | +€175,029 | +60.5% |
| Operating profit (loss) | 9901 | €253,973 | €403,989 | +€150,016 | +59.1% |
| Financial income | 75/76B | €17,538 | €20,495 | +€2,957 | +16.9% |
| Recurring financial income | 75 | €17,538 | €20,495 | +€2,957 | +16.9% |
| Financial charges | 65/66B | €34,753 | €33,826 | -€926 | -2.7% |
| Recurring financial charges | 65 | €34,753 | €33,826 | -€926 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €236,758 | €390,657 | +€153,899 | +65.0% |
| Transfer from deferred taxes | 780 | €726 | €1,445 | +€719 | +98.9% |
| Income taxes | 67/77 | €64,609 | €105,419 | +€40,810 | +63.2% |
| Profit (loss) for the period | 9904 | €172,876 | €286,684 | +€113,808 | +65.8% |
| Transfer from tax-exempt reserves | 789 | €2,179 | €4,335 | +€2,156 | +98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €175,055 | €291,019 | +€115,964 | +66.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.