Stephanie Elegeert: 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.
Stephanie Elegeert
Largest movements
- Cash +€7,550
up €7,550 (+34.8%), from €21,703 to €29,253
mainly Net result for the year (+€11,105) and Deferred charges and accrued income (+€1,939)
- Deferred charges and accrued income -€1,939
down €1,939 (-15.6%), from €12,461 to €10,522
- Tangible fixed assets -€554
down €554 (-79.8%), from €694 to €140
- Reserves +€11,105
up €11,105 (+63.1%), from €17,594 to €28,699
- Other debts -€4,247
down €4,247 (-53.1%), from €7,999 to €3,752
- Accrued charges and deferred income -€1,665
down €1,665 (-100.0%), from €1,665 to €0
- Tax, wage and social debts -€1,248
down €1,248 (-22.8%), from €5,465 to €4,217
of which Taxes: -€1,448
- Trade debts +€1,113
up €1,113 (+825.0%), from €135 to €1,248
- Gross operating margin +€3,404
up €3,404 (+25.9%), from €13,144 to €16,548
- Taxes +€952
up €952 (+29.6%), from €3,215 to €4,167
- Other operating charges -€193
down €193 (-29.9%), from €646 to €453
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 | €34,858 | €39,915 | +€5,057 | +14.5% |
| Fixed assets | 21/28 | €694 | €140 | -€554 | -79.8% |
| Tangible fixed assets | 22/27 | €694 | €140 | -€554 | -79.8% |
| Plant, machinery and equipment | 23 | €694 | €140 | -€554 | -79.8% |
| Current assets | 29/58 | €34,164 | €39,775 | +€5,611 | +16.4% |
| Cash at bank and in hand | 54/58 | €21,703 | €29,253 | +€7,550 | +34.8% |
| Deferred charges and accrued income | 490/1 | €12,461 | €10,522 | -€1,939 | -15.6% |
| Total equity and liabilities | 10/49 | €34,858 | €39,915 | +€5,057 | +14.5% |
| Equity | 10/15 | €19,594 | €30,699 | +€11,105 | +56.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €17,594 | €28,699 | +€11,105 | +63.1% |
| Distributable reserves | 133 | €17,594 | €28,699 | +€11,105 | +63.1% |
| Amounts payable | 17/49 | €15,264 | €9,216 | -€6,048 | -39.6% |
| Amounts payable within one year | 42/48 | €13,599 | €9,216 | -€4,383 | -32.2% |
| Trade debts | 44 | €135 | €1,248 | +€1,113 | +825.0% |
| Suppliers | 440/4 | €135 | €1,248 | +€1,113 | +825.0% |
| Taxes, remuneration and social security | 45 | €5,465 | €4,217 | -€1,248 | -22.8% |
| Taxes | 450/3 | €3,965 | €2,517 | -€1,448 | -36.5% |
| Remuneration and social security | 454/9 | €1,500 | €1,700 | +€200 | +13.3% |
| Other amounts payable | 47/48 | €7,999 | €3,752 | -€4,247 | -53.1% |
| Accrued charges and deferred income | 492/3 | €1,665 | €0 | -€1,665 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €554 | €554 | = | 0.0% |
| Other operating charges | 640/8 | €646 | €453 | -€193 | -29.9% |
| Gross operating margin | 9900 | €13,144 | €16,548 | +€3,404 | +25.9% |
| Operating profit (loss) | 9901 | €11,944 | €15,541 | +€3,597 | +30.1% |
| Financial income | 75/76B | €6 | €0 | -€6 | -100.0% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -100.0% |
| Financial charges | 65/66B | €180 | €270 | +€90 | +50.2% |
| Recurring financial charges | 65 | €180 | €270 | +€90 | +50.2% |
| Profit (loss) for the period before taxes | 9903 | €11,771 | €15,271 | +€3,501 | +29.7% |
| Income taxes | 67/77 | €3,215 | €4,167 | +€952 | +29.6% |
| Profit (loss) for the period | 9904 | €8,555 | €11,105 | +€2,549 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,555 | €11,105 | +€2,549 | +29.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.