Tania De Belder: 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.
Tania De Belder
Largest movements
- Cash +€1,129
up €1,129 (+7.1%), from €15,935 to €17,064
mainly Net result for the year (+€11,029) and Depreciation (+€3,918)
- Tangible fixed assets +€861
up €861 (+8.6%), from €10,038 to €10,900
of which Plant, machinery and equipment: +€4,042
- Reserves +€5,534
up €5,534 (+49.9%), from €11,096 to €16,630
- Profit (loss) carried forward +€4,662
no longer reported in 2025 (was -€4,662)
- Tax, wage and social debts -€3,821
down €3,821 (-27.8%), from €13,752 to €9,932
of which Taxes: -€3,821
- Trade debts -€2,324
down €2,324 (-41.0%), from €5,670 to €3,346
- Other debts -€1,817
down €1,817 (-14.2%), from €12,835 to €11,019
- Gross operating margin +€20,521
up €20,521 (+2,555%), from €803 to €21,324
- Taxes +€4,369
up €4,369 (+1,724%), from €253 to €4,623
- Depreciation +€419
up €419 (+12.0%), from €3,499 to €3,918
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 | €40,692 | €42,927 | +€2,235 | +5.5% |
| Fixed assets | 21/28 | €10,038 | €10,900 | +€861 | +8.6% |
| Tangible fixed assets | 22/27 | €10,038 | €10,900 | +€861 | +8.6% |
| Land and buildings | 22 | €1,740 | €1,526 | -€214 | -12.3% |
| Plant, machinery and equipment | 23 | €561 | €4,603 | +€4,042 | +720% |
| Furniture and vehicles | 24 | €7,737 | €4,770 | -€2,967 | -38.3% |
| Current assets | 29/58 | €30,653 | €32,027 | +€1,374 | +4.5% |
| Amounts receivable within one year | 40/41 | €13,371 | €13,417 | +€47 | +0.3% |
| Trade receivables | 40 | €13,371 | €13,417 | +€47 | +0.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €15,935 | €17,064 | +€1,129 | +7.1% |
| Deferred charges and accrued income | 490/1 | €1,348 | €1,546 | +€198 | +14.7% |
| Total equity and liabilities | 10/49 | €40,692 | €42,927 | +€2,235 | +5.5% |
| Equity | 10/15 | €8,434 | €18,630 | +€10,196 | +121% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €11,096 | €16,630 | +€5,534 | +49.9% |
| Distributable reserves | 133 | €11,096 | €16,630 | +€5,534 | +49.9% |
| Profit (loss) carried forward | 14 | -€4,662 | - | +€4,662 | |
| Amounts payable | 17/49 | €32,257 | €24,297 | -€7,961 | -24.7% |
| Amounts payable within one year | 42/48 | €32,257 | €24,297 | -€7,961 | -24.7% |
| Trade debts | 44 | €5,670 | €3,346 | -€2,324 | -41.0% |
| Suppliers | 440/4 | €5,670 | €3,346 | -€2,324 | -41.0% |
| Taxes, remuneration and social security | 45 | €13,752 | €9,932 | -€3,821 | -27.8% |
| Taxes | 450/3 | €10,552 | €6,732 | -€3,821 | -36.2% |
| Remuneration and social security | 454/9 | €3,200 | €3,200 | = | 0.0% |
| Other amounts payable | 47/48 | €12,835 | €11,019 | -€1,817 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,499 | €3,918 | +€419 | +12.0% |
| Other operating charges | 640/8 | €1,503 | €1,590 | +€87 | +5.8% |
| Gross operating margin | 9900 | €803 | €21,324 | +€20,521 | +2,555% |
| Operating profit (loss) | 9901 | -€4,199 | €15,816 | +€20,015 | |
| Financial charges | 65/66B | €210 | €164 | -€45 | -21.6% |
| Recurring financial charges | 65 | €157 | €164 | +€8 | +4.9% |
| Non-recurring financial charges | 66B | €53 | - | -€53 | |
| Profit (loss) for the period before taxes | 9903 | -€4,409 | €15,652 | +€20,060 | |
| Income taxes | 67/77 | €253 | €4,623 | +€4,369 | +1,724% |
| Profit (loss) for the period | 9904 | -€4,662 | €11,029 | +€15,691 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,662 | €11,029 | +€15,691 |
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 30 October 2026 via checked.be.