THOMAS DAENEN: 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.
THOMAS DAENEN
Largest movements
- Receivables within one year -€23,964
down €23,964 (-13.2%), from €181,531 to €157,566
of which Trade receivables: -€21,150
- Intangible fixed assets -€20,000
down €20,000 (-57.1%), from €35,000 to €15,000
- Tangible fixed assets -€14,073
down €14,073 (-26.7%), from €52,710 to €38,637
of which Furniture and vehicles: -€13,576
- Cash +€8,195
up €8,195 (+549%), from €1,494 to €9,688
mainly Depreciation (+€35,324) and Net result for the year (+€26,509)
- Debts after one year -€31,996
down €31,996 (-59.6%), from €53,665 to €21,668
- Other debts +€22,843
up €22,843 (+40.3%), from €56,739 to €79,582
- Tax, wage and social debts -€21,462
down €21,462 (-73.3%), from €29,265 to €7,803
- Reserves -€14,240
down €14,240 (-14.4%), from €99,152 to €84,912
of which Distributable reserves: -€12,380
- Trade debts -€5,708
down €5,708 (-69.4%), from €8,226 to €2,518
- Gross operating margin +€5,476
up €5,476 (+7.5%), from €73,338 to €78,814
- Taxes +€5,238
up €5,238 (+114%), from €4,595 to €9,833
- Financial charges -€2,332
down €2,332 (-35.8%), from €6,510 to €4,178
- Depreciation -€1,376
down €1,376 (-3.7%), from €36,700 to €35,324
- Other operating charges +€957
up €957 (+47.5%), from €2,013 to €2,970
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 | €298,135 | €248,799 | -€49,336 | -16.5% |
| Fixed assets | 21/28 | €106,610 | €72,537 | -€34,073 | -32.0% |
| Intangible fixed assets | 21 | €35,000 | €15,000 | -€20,000 | -57.1% |
| Tangible fixed assets | 22/27 | €52,710 | €38,637 | -€14,073 | -26.7% |
| Land and buildings | 22 | €6,643 | €6,396 | -€247 | -3.7% |
| Plant, machinery and equipment | 23 | €875 | €625 | -€250 | -28.6% |
| Furniture and vehicles | 24 | €45,192 | €31,616 | -€13,576 | -30.0% |
| Financial fixed assets | 28 | €18,900 | €18,900 | = | 0.0% |
| Current assets | 29/58 | €191,525 | €176,262 | -€15,263 | -8.0% |
| Amounts receivable within one year | 40/41 | €181,531 | €157,566 | -€23,964 | -13.2% |
| Trade receivables | 40 | €178,400 | €157,250 | -€21,150 | -11.9% |
| Other amounts receivable | 41 | €3,131 | €316 | -€2,814 | -89.9% |
| Cash at bank and in hand | 54/58 | €1,494 | €9,688 | +€8,195 | +549% |
| Deferred charges and accrued income | 490/1 | €8,501 | €9,007 | +€507 | +6.0% |
| Total equity and liabilities | 10/49 | €298,135 | €248,799 | -€49,336 | -16.5% |
| Equity | 10/15 | €117,752 | €103,512 | -€14,240 | -12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,152 | €84,912 | -€14,240 | -14.4% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €97,292 | €84,912 | -€12,380 | -12.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €180,383 | €145,287 | -€35,097 | -19.5% |
| Amounts payable after more than one year | 17 | €53,665 | €21,668 | -€31,996 | -59.6% |
| Financial debts | 170/4 | €53,665 | €21,668 | -€31,996 | -59.6% |
| Amounts payable within one year | 42/48 | €125,040 | €121,899 | -€3,141 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €30,810 | €31,996 | +€1,186 | +3.9% |
| Trade debts | 44 | €8,226 | €2,518 | -€5,708 | -69.4% |
| Suppliers | 440/4 | €8,226 | €2,518 | -€5,708 | -69.4% |
| Taxes, remuneration and social security | 45 | €29,265 | €7,803 | -€21,462 | -73.3% |
| Taxes | 450/3 | €29,265 | €7,803 | -€21,462 | -73.3% |
| Other amounts payable | 47/48 | €56,739 | €79,582 | +€22,843 | +40.3% |
| Accrued charges and deferred income | 492/3 | €1,679 | €1,719 | +€40 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,700 | €35,324 | -€1,376 | -3.7% |
| Other operating charges | 640/8 | €2,013 | €2,970 | +€957 | +47.5% |
| Gross operating margin | 9900 | €73,338 | €78,814 | +€5,476 | +7.5% |
| Operating profit (loss) | 9901 | €34,625 | €40,520 | +€5,895 | +17.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €6,510 | €4,178 | -€2,332 | -35.8% |
| Recurring financial charges | 65 | €6,510 | €4,178 | -€2,332 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €28,115 | €36,341 | +€8,226 | +29.3% |
| Income taxes | 67/77 | €4,595 | €9,833 | +€5,238 | +114% |
| Profit (loss) for the period | 9904 | €23,520 | €26,509 | +€2,989 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,520 | €26,509 | +€2,989 | +12.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.