Steven Himpe: 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.
Steven Himpe
Largest movements
- Stocks and contracts +€33,815
up €33,815 (+141%), from €23,992 to €57,806
- Tangible fixed assets -€22,778
down €22,778 (-21.4%), from €106,414 to €83,636
of which Furniture and vehicles: -€21,922
- Cash +€20,283
up €20,283 (+1,028%), from €1,974 to €22,257
mainly Trade debts (+€62,721) and Depreciation (+€24,799)
- Receivables within one year +€18,413
up €18,413 (+15.4%), from €119,647 to €138,060
of which Trade receivables: +€12,301
- Trade debts +€62,721
up €62,721 (+129%), from €48,700 to €111,421
- Debts after one year -€18,741
down €18,741 (-31.7%), from €59,149 to €40,408
- Reserves +€13,314
up €13,314 (+11.9%), from €111,948 to €125,262
- Current portion of long-term debt -€10,989
down €10,989 (-37.0%), from €29,730 to €18,741
- Accrued charges and deferred income +€6,068
up €6,068 (+275%), from €2,207 to €8,275
- Gross operating margin +€9,026
up €9,026 (+7.7%), from €116,700 to €125,726
- Other operating charges -€3,738
down €3,738 (-79.0%), from €4,734 to €996
- Depreciation +€3,037
up €3,037 (+14.0%), from €21,762 to €24,799
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 | €272,177 | €323,093 | +€50,916 | +18.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €106,414 | €83,636 | -€22,778 | -21.4% |
| Tangible fixed assets | 22/27 | €106,414 | €83,636 | -€22,778 | -21.4% |
| Plant, machinery and equipment | 23 | €3,529 | €2,673 | -€856 | -24.3% |
| Furniture and vehicles | 24 | €102,884 | €80,963 | -€21,922 | -21.3% |
| Current assets | 29/58 | €165,763 | €239,458 | +€73,694 | +44.5% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €23,992 | €57,806 | +€33,815 | +141% |
| Stocks | 30/36 | €23,992 | €57,806 | +€33,815 | +141% |
| Amounts receivable within one year | 40/41 | €119,647 | €138,060 | +€18,413 | +15.4% |
| Trade receivables | 40 | €52,689 | €64,990 | +€12,301 | +23.3% |
| Other amounts receivable | 41 | €66,958 | €73,070 | +€6,112 | +9.1% |
| Cash at bank and in hand | 54/58 | €1,974 | €22,257 | +€20,283 | +1,028% |
| Deferred charges and accrued income | 490/1 | €151 | €1,334 | +€1,183 | +784% |
| Total equity and liabilities | 10/49 | €272,177 | €323,093 | +€50,916 | +18.7% |
| Equity | 10/15 | €116,948 | €130,262 | +€13,314 | +11.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €111,948 | €125,262 | +€13,314 | +11.9% |
| Distributable reserves | 133 | €111,948 | €125,262 | +€13,314 | +11.9% |
| Amounts payable | 17/49 | €155,230 | €192,831 | +€37,602 | +24.2% |
| Amounts payable after more than one year | 17 | €59,149 | €40,408 | -€18,741 | -31.7% |
| Financial debts | 170/4 | €59,149 | €40,408 | -€18,741 | -31.7% |
| Amounts payable within one year | 42/48 | €93,874 | €144,148 | +€50,274 | +53.6% |
| Current portion of amounts payable after more than one year | 42 | €29,730 | €18,741 | -€10,989 | -37.0% |
| Trade debts | 44 | €48,700 | €111,421 | +€62,721 | +129% |
| Suppliers | 440/4 | €48,700 | €111,421 | +€62,721 | +129% |
| Advances received on contracts in progress | 46 | €2,618 | €0 | -€2,618 | -100% |
| Taxes, remuneration and social security | 45 | €12,827 | €13,987 | +€1,160 | +9.0% |
| Taxes | 450/3 | €3,034 | €3,108 | +€74 | +2.4% |
| Remuneration and social security | 454/9 | €9,793 | €10,879 | +€1,086 | +11.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,207 | €8,275 | +€6,068 | +275% |
| Remuneration, social security and pensions | 62 | €69,268 | €69,880 | +€612 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,762 | €24,799 | +€3,037 | +14.0% |
| Other operating charges | 640/8 | €4,734 | €996 | -€3,738 | -79.0% |
| Non-recurring operating charges | 66A | - | €6,975 | +€6,975 | |
| Gross operating margin | 9900 | €116,700 | €125,726 | +€9,026 | +7.7% |
| Operating profit (loss) | 9901 | €20,935 | €23,076 | +€2,141 | +10.2% |
| Financial income | 75/76B | €1,203 | €58 | -€1,145 | -95.2% |
| Recurring financial income | 75 | €1,203 | €58 | -€1,145 | -95.2% |
| Financial charges | 65/66B | €4,799 | €5,602 | +€803 | +16.7% |
| Recurring financial charges | 65 | €4,799 | €5,602 | +€803 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €17,338 | €17,532 | +€193 | +1.1% |
| Income taxes | 67/77 | €3,338 | €4,217 | +€879 | +26.3% |
| Profit (loss) for the period | 9904 | €14,000 | €13,314 | -€686 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,000 | €13,314 | -€686 | -4.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.