Stefanie Barigand: 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.
Stefanie Barigand
Largest movements
- Receivables within one year +€7,098
up €7,098 (+710%), from €1,000 to €8,098
- Cash -€3,029
down €3,029 (-40.5%), from €7,487 to €4,458
mainly Receivables within one year (-€7,098) and Investment in fixed assets (net) (-€2,996)
- Tangible fixed assets +€2,796
new in 2025: €2,796
- Trade debts +€6,313
up €6,313 (+33,242%), from €19 to €6,332
- Tax, wage and social debts +€3,962
up €3,962 (+1,259%), from €315 to €4,277
- Other debts -€2,582
down €2,582 (-52.1%), from €4,957 to €2,375
- Reserves -€827
down €827 (-69.2%), from €1,196 to €369
- Other operating charges +€724
up €724 (+466%), from €156 to €879
- Gross operating margin -€696
down €696 (-40.3%), from €1,727 to €1,030
- Financial charges +€299
up €299 (+496%), from €60 to €359
- Depreciation +€200
new in 2025: €200
- Taxes +€105
up €105 (+33.2%), from €315 to €419
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 | €8,487 | €15,352 | +€6,865 | +80.9% |
| Fixed assets | 21/28 | - | €2,796 | +€2,796 | |
| Tangible fixed assets | 22/27 | - | €2,796 | +€2,796 | |
| Furniture and vehicles | 24 | - | €2,796 | +€2,796 | |
| Current assets | 29/58 | €8,487 | €12,556 | +€4,069 | +47.9% |
| Amounts receivable within one year | 40/41 | €1,000 | €8,098 | +€7,098 | +710% |
| Trade receivables | 40 | €1,000 | €8,098 | +€7,098 | +710% |
| Cash at bank and in hand | 54/58 | €7,487 | €4,458 | -€3,029 | -40.5% |
| Total equity and liabilities | 10/49 | €8,487 | €15,352 | +€6,865 | +80.9% |
| Equity | 10/15 | €3,196 | €2,369 | -€827 | -25.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,196 | €369 | -€827 | -69.2% |
| Distributable reserves | 133 | €1,196 | €369 | -€827 | -69.2% |
| Amounts payable | 17/49 | €5,291 | €12,983 | +€7,693 | +145% |
| Amounts payable within one year | 42/48 | €5,291 | €12,983 | +€7,693 | +145% |
| Trade debts | 44 | €19 | €6,332 | +€6,313 | +33,242% |
| Suppliers | 440/4 | €19 | €6,332 | +€6,313 | +33,242% |
| Taxes, remuneration and social security | 45 | €315 | €4,277 | +€3,962 | +1,259% |
| Taxes | 450/3 | €315 | €4,277 | +€3,962 | +1,259% |
| Other amounts payable | 47/48 | €4,957 | €2,375 | -€2,582 | -52.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €200 | +€200 | |
| Other operating charges | 640/8 | €156 | €879 | +€724 | +466% |
| Gross operating margin | 9900 | €1,727 | €1,030 | -€696 | -40.3% |
| Operating profit (loss) | 9901 | €1,571 | -€49 | -€1,620 | |
| Financial charges | 65/66B | €60 | €359 | +€299 | +496% |
| Recurring financial charges | 65 | €60 | €359 | +€299 | +496% |
| Profit (loss) for the period before taxes | 9903 | €1,511 | -€408 | -€1,919 | |
| Income taxes | 67/77 | €315 | €419 | +€105 | +33.2% |
| Profit (loss) for the period | 9904 | €1,196 | -€827 | -€2,023 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,196 | -€827 | -€2,023 |
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 24 October 2026 via checked.be.