STEPHANIE HERIS: 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 HERIS
Largest movements
- Tangible fixed assets -€12,288
down €12,288 (-22.0%), from €55,891 to €43,604
- Receivables within one year +€8,680
up €8,680 (+169%), from €5,127 to €13,807
of which Trade receivables: +€10,419
- Deferred charges and accrued income -€4,230
down €4,230 (-99.4%), from €4,255 to €25
- Cash -€2,319
down €2,319 (-21.8%), from €10,630 to €8,311
mainly Debts after one year (-€8,981) and Receivables within one year (-€8,680)
- Debts after one year -€8,981
down €8,981 (-26.5%), from €33,858 to €24,877
- Other debts -€5,820
down €5,820 (-55.6%), from €10,458 to €4,639
- Reserves +€5,000
up €5,000 (+33.3%), from €15,000 to €20,000
- Tax, wage and social debts -€1,027
down €1,027 (-55.6%), from €1,846 to €819
- Depreciation +€5,480
up €5,480 (+71.6%), from €7,657 to €13,137
- Taxes -€1,750
down €1,750 (-28.7%), from €6,104 to €4,354
- Financial charges +€525
up €525 (+51.2%), from €1,025 to €1,550
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 | €75,904 | €65,747 | -€10,157 | -13.4% |
| Fixed assets | 21/28 | €55,891 | €43,604 | -€12,288 | -22.0% |
| Tangible fixed assets | 22/27 | €55,891 | €43,604 | -€12,288 | -22.0% |
| Furniture and vehicles | 24 | €55,891 | €43,604 | -€12,288 | -22.0% |
| Current assets | 29/58 | €20,012 | €22,143 | +€2,131 | +10.6% |
| Amounts receivable within one year | 40/41 | €5,127 | €13,807 | +€8,680 | +169% |
| Trade receivables | 40 | - | €10,419 | +€10,419 | |
| Other amounts receivable | 41 | €5,127 | €3,388 | -€1,739 | -33.9% |
| Cash at bank and in hand | 54/58 | €10,630 | €8,311 | -€2,319 | -21.8% |
| Deferred charges and accrued income | 490/1 | €4,255 | €25 | -€4,230 | -99.4% |
| Total equity and liabilities | 10/49 | €75,904 | €65,747 | -€10,157 | -13.4% |
| Equity | 10/15 | €21,000 | €26,000 | +€5,000 | +23.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €20,000 | +€5,000 | +33.3% |
| Distributable reserves | 133 | €15,000 | €20,000 | +€5,000 | +33.3% |
| Amounts payable | 17/49 | €54,904 | €39,747 | -€15,157 | -27.6% |
| Amounts payable after more than one year | 17 | €33,858 | €24,877 | -€8,981 | -26.5% |
| Financial debts | 170/4 | €33,858 | €24,877 | -€8,981 | -26.5% |
| Amounts payable within one year | 42/48 | €21,046 | €14,870 | -€6,176 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €8,640 | €8,981 | +€341 | +3.9% |
| Trade debts | 44 | €102 | €432 | +€330 | +323% |
| Suppliers | 440/4 | €102 | €432 | +€330 | +323% |
| Taxes, remuneration and social security | 45 | €1,846 | €819 | -€1,027 | -55.6% |
| Taxes | 450/3 | €1,846 | €819 | -€1,027 | -55.6% |
| Other amounts payable | 47/48 | €10,458 | €4,639 | -€5,820 | -55.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,657 | €13,137 | +€5,480 | +71.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €52 | - | -€52 | |
| Gross operating margin | 9900 | €29,749 | €29,884 | +€135 | +0.5% |
| Operating profit (loss) | 9901 | €21,652 | €16,347 | -€5,305 | -24.5% |
| Financial income | 75/76B | €178 | €14 | -€164 | -92.2% |
| Recurring financial income | 75 | €178 | €14 | -€164 | -92.2% |
| Financial charges | 65/66B | €1,025 | €1,550 | +€525 | +51.2% |
| Recurring financial charges | 65 | €1,025 | €1,550 | +€525 | +51.2% |
| Profit (loss) for the period before taxes | 9903 | €20,805 | €14,811 | -€5,994 | -28.8% |
| Income taxes | 67/77 | €6,104 | €4,354 | -€1,750 | -28.7% |
| Profit (loss) for the period | 9904 | €14,702 | €10,457 | -€4,244 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,702 | €10,457 | -€4,244 | -28.9% |
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 31 October 2026 via checked.be.