Stijn Van den Bogaert: 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.
Stijn Van den Bogaert
Largest movements
- Cash +€130,149
up €130,149 (+83.8%), from €155,283 to €285,432
mainly Net result for the year (+€106,460) and Tax, wage and social debts (+€28,188)
- Reserves +€106,460
up €106,460 (+112%), from €95,369 to €201,829
- Tax, wage and social debts +€28,188
up €28,188 (+66.3%), from €42,537 to €70,726
- Other debts -€7,961
down €7,961 (-79.5%), from €10,008 to €2,047
- Gross operating margin +€39,616
up €39,616 (+39.8%), from €99,485 to €139,101
- Taxes +€9,566
up €9,566 (+46.9%), from €20,387 to €29,953
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 | €157,262 | €286,506 | +€129,245 | +82.2% |
| Current assets | 29/58 | €157,262 | €286,506 | +€129,245 | +82.2% |
| Amounts receivable within one year | 40/41 | €254 | €0 | -€254 | -100% |
| Trade receivables | 40 | €254 | €0 | -€254 | -100% |
| Cash at bank and in hand | 54/58 | €155,283 | €285,432 | +€130,149 | +83.8% |
| Deferred charges and accrued income | 490/1 | €1,725 | €1,074 | -€651 | -37.7% |
| Total equity and liabilities | 10/49 | €157,262 | €286,506 | +€129,245 | +82.2% |
| Equity | 10/15 | €100,369 | €206,829 | +€106,460 | +106% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €95,369 | €201,829 | +€106,460 | +112% |
| Distributable reserves | 133 | €95,369 | €201,829 | +€106,460 | +112% |
| Amounts payable | 17/49 | €56,893 | €79,677 | +€22,785 | +40.0% |
| Amounts payable within one year | 42/48 | €56,893 | €79,677 | +€22,785 | +40.0% |
| Trade debts | 44 | €4,347 | €6,905 | +€2,557 | +58.8% |
| Suppliers | 440/4 | €4,347 | €6,905 | +€2,557 | +58.8% |
| Taxes, remuneration and social security | 45 | €42,537 | €70,726 | +€28,188 | +66.3% |
| Taxes | 450/3 | €42,537 | €70,726 | +€28,188 | +66.3% |
| Other amounts payable | 47/48 | €10,008 | €2,047 | -€7,961 | -79.5% |
| Other operating charges | 640/8 | €187 | €877 | +€690 | +369% |
| Gross operating margin | 9900 | €99,485 | €139,101 | +€39,616 | +39.8% |
| Operating profit (loss) | 9901 | €99,298 | €138,223 | +€38,926 | +39.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,448 | €1,810 | +€362 | +25.0% |
| Recurring financial charges | 65 | €1,448 | €1,810 | +€362 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €97,850 | €136,413 | +€38,563 | +39.4% |
| Income taxes | 67/77 | €20,387 | €29,953 | +€9,566 | +46.9% |
| Profit (loss) for the period | 9904 | €77,462 | €106,460 | +€28,997 | +37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €77,462 | €106,460 | +€28,997 | +37.4% |
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 27 October 2026 via checked.be.