STEVE VIERSTRAETE: what changed
STEVE VIERSTRAETE
Largest movements
- Current investments +€82,500
up €82,500 (+89.2%), from €92,500 to €174,999
- Receivables within one year +€57,116
up €57,116 (+140%), from €40,782 to €97,897
of which Other amounts receivable: +€97,890
- Cash -€24,426
down €24,426 (-7.6%), from €319,328 to €294,903
mainly Contributions, distributions and other (-€191,328) and Current investments (-€82,500)
- Tangible fixed assets -€10,045
down €10,045 (-44.0%), from €22,843 to €12,798
- Other debts +€191,328
new in 2025: €191,328
- Reserves -€83,913
down €83,913 (-16.1%), from €520,558 to €436,645
- Tax, wage and social debts -€7,888
down €7,888 (-10.2%), from €77,645 to €69,757
of which Remuneration and social security: -€15,501
- Gross operating margin +€31,088
up €31,088 (+22.1%), from €140,398 to €171,486
- Taxes +€15,649
up €15,649 (+40.5%), from €38,612 to €54,261
- Other operating charges -€2,314
down €2,314 (-79.9%), from €2,898 to €584
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €626,897 | €732,005 | +€105,108 | +16.8% |
| Fixed assets | 21/28 | €172,843 | €162,798 | -€10,045 | -5.8% |
| Tangible fixed assets | 22/27 | €22,843 | €12,798 | -€10,045 | -44.0% |
| Furniture and vehicles | 24 | €22,843 | €12,798 | -€10,045 | -44.0% |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €454,054 | €569,208 | +€115,154 | +25.4% |
| Amounts receivable within one year | 40/41 | €40,782 | €97,897 | +€57,116 | +140% |
| Trade receivables | 40 | €40,774 | €0 | -€40,774 | -100% |
| Other amounts receivable | 41 | €8 | €97,897 | +€97,890 | +1,272,946% |
| Current investments | 50/53 | €92,500 | €174,999 | +€82,500 | +89.2% |
| Cash at bank and in hand | 54/58 | €319,328 | €294,903 | -€24,426 | -7.6% |
| Deferred charges and accrued income | 490/1 | €1,444 | €1,409 | -€36 | -2.5% |
| Total equity and liabilities | 10/49 | €626,897 | €732,005 | +€105,108 | +16.8% |
| Equity | 10/15 | €547,290 | €463,377 | -€83,913 | -15.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €520,558 | €436,645 | -€83,913 | -16.1% |
| Distributable reserves | 133 | €520,558 | €436,645 | -€83,913 | -16.1% |
| Profit (loss) carried forward | 14 | €8,132 | €8,132 | = | 0.0% |
| Amounts payable | 17/49 | €79,607 | €268,629 | +€189,021 | +237% |
| Amounts payable within one year | 42/48 | €79,607 | €268,629 | +€189,021 | +237% |
| Trade debts | 44 | €1,962 | €7,544 | +€5,582 | +284% |
| Suppliers | 440/4 | €1,962 | €7,544 | +€5,582 | +284% |
| Taxes, remuneration and social security | 45 | €77,645 | €69,757 | -€7,888 | -10.2% |
| Taxes | 450/3 | €54,427 | €62,040 | +€7,613 | +14.0% |
| Remuneration and social security | 454/9 | €23,218 | €7,717 | -€15,501 | -66.8% |
| Other amounts payable | 47/48 | - | €191,328 | +€191,328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,045 | €10,045 | +€0 | 0.0% |
| Other operating charges | 640/8 | €2,898 | €584 | -€2,314 | -79.9% |
| Gross operating margin | 9900 | €140,398 | €171,486 | +€31,088 | +22.1% |
| Operating profit (loss) | 9901 | €127,455 | €160,857 | +€33,402 | +26.2% |
| Financial income | 75/76B | €0 | €1,478 | +€1,478 | +4,927,033% |
| Recurring financial income | 75 | €0 | €1,478 | +€1,478 | +4,927,033% |
| Financial charges | 65/66B | €391 | €660 | +€269 | +68.9% |
| Recurring financial charges | 65 | €391 | €660 | +€269 | +68.9% |
| Profit (loss) for the period before taxes | 9903 | €127,064 | €161,675 | +€34,611 | +27.2% |
| Income taxes | 67/77 | €38,612 | €54,261 | +€15,649 | +40.5% |
| Profit (loss) for the period | 9904 | €88,452 | €107,415 | +€18,962 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €88,452 | €107,415 | +€18,962 | +21.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.