Stéphanie Wang: 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.
Stéphanie Wang
Largest movements
- Receivables within one year +€12,131
up €12,131 (+185%), from €6,560 to €18,691
of which Trade receivables: +€11,287
- Profit (loss) carried forward +€22,577
up €22,577 (+51.6%), from €43,719 to €66,297
- Tax, wage and social debts -€10,177
down €10,177 (-59.9%), from €17,000 to €6,823
- Other debts -€778
no longer reported in 2025 (was €778)
- Gross operating margin -€31,627
down €31,627 (-51.9%), from €60,924 to €29,297
- Taxes -€11,000
down €11,000 (-64.7%), from €17,000 to €6,000
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 | €62,927 | €74,440 | +€11,513 | +18.3% |
| Current assets | 29/58 | €62,927 | €74,440 | +€11,513 | +18.3% |
| Amounts receivable within one year | 40/41 | €6,560 | €18,691 | +€12,131 | +185% |
| Trade receivables | 40 | €6,351 | €17,637 | +€11,287 | +178% |
| Other amounts receivable | 41 | €209 | €1,053 | +€844 | +404% |
| Cash at bank and in hand | 54/58 | €56,367 | €55,749 | -€618 | -1.1% |
| Total equity and liabilities | 10/49 | €62,927 | €74,440 | +€11,513 | +18.3% |
| Equity | 10/15 | €45,039 | €67,617 | +€22,577 | +50.1% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Capital | 10 | €1,200 | €1,200 | = | 0.0% |
| Issued capital | 100 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €120 | €120 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120 | €120 | = | 0.0% |
| Legal reserve | 130 | €120 | €120 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,719 | €66,297 | +€22,577 | +51.6% |
| Amounts payable | 17/49 | €17,887 | €6,823 | -€11,064 | -61.9% |
| Amounts payable within one year | 42/48 | €17,887 | €6,823 | -€11,064 | -61.9% |
| Trade debts | 44 | €109 | - | -€109 | |
| Suppliers | 440/4 | €109 | - | -€109 | |
| Taxes, remuneration and social security | 45 | €17,000 | €6,823 | -€10,177 | -59.9% |
| Taxes | 450/3 | €17,000 | €6,823 | -€10,177 | -59.9% |
| Other amounts payable | 47/48 | €778 | - | -€778 | |
| Other operating charges | 640/8 | €80 | €632 | +€552 | +694% |
| Gross operating margin | 9900 | €60,924 | €29,297 | -€31,627 | -51.9% |
| Operating profit (loss) | 9901 | €60,845 | €28,665 | -€32,180 | -52.9% |
| Financial charges | 65/66B | €5 | €88 | +€82 | +1,504% |
| Recurring financial charges | 65 | €5 | €88 | +€82 | +1,504% |
| Profit (loss) for the period before taxes | 9903 | €60,839 | €28,577 | -€32,262 | -53.0% |
| Income taxes | 67/77 | €17,000 | €6,000 | -€11,000 | -64.7% |
| Profit (loss) for the period | 9904 | €43,839 | €22,577 | -€21,262 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,839 | €22,577 | -€21,262 | -48.5% |
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 14 October 2026 via checked.be.