Tim Vandeweyer: 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.
Tim Vandeweyer
Largest movements
- Cash -€83,728
down €83,728 (-76.7%), from €109,115 to €25,387
mainly Contributions, distributions and other (-€145,000) and Investment in fixed assets (net) (-€49,862)
- Tangible fixed assets +€39,415
up €39,415 (+887%), from €4,443 to €43,859
of which Furniture and vehicles: +€41,256
- Receivables within one year -€4,000
down €4,000 (-22.1%), from €18,117 to €14,117
- Reserves -€68,817
down €68,817 (-95.8%), from €71,846 to €3,029
- Other debts +€44,848
up €44,848 (+2,221%), from €2,020 to €46,868
- Debts after one year -€27,597
down €27,597 (-49.8%), from €55,425 to €27,828
- Tax, wage and social debts +€3,027
up €3,027 (+31.3%), from €9,667 to €12,695
of which Remuneration and social security: +€1,890
- Financial income -€113,910
no longer reported in 2025 (was €113,910)
- Gross operating margin +€26,588
up €26,588 (+30.1%), from €88,251 to €114,839
- Depreciation +€6,011
up €6,011 (+136%), from €4,435 to €10,447
- Taxes +€4,433
up €4,433 (+19.7%), from €22,544 to €26,977
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 | €172,038 | €123,777 | -€48,262 | -28.1% |
| Fixed assets | 21/28 | €44,444 | €83,859 | +€39,415 | +88.7% |
| Tangible fixed assets | 22/27 | €4,443 | €43,859 | +€39,415 | +887% |
| Plant, machinery and equipment | 23 | €4,443 | €2,603 | -€1,840 | -41.4% |
| Furniture and vehicles | 24 | - | €41,256 | +€41,256 | |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €127,594 | €39,918 | -€87,677 | -68.7% |
| Amounts receivable within one year | 40/41 | €18,117 | €14,117 | -€4,000 | -22.1% |
| Trade receivables | 40 | €18,117 | €14,117 | -€4,000 | -22.1% |
| Cash at bank and in hand | 54/58 | €109,115 | €25,387 | -€83,728 | -76.7% |
| Deferred charges and accrued income | 490/1 | €363 | €414 | +€51 | +14.1% |
| Total equity and liabilities | 10/49 | €172,038 | €123,777 | -€48,262 | -28.1% |
| Equity | 10/15 | €76,846 | €8,029 | -€68,817 | -89.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €71,846 | €3,029 | -€68,817 | -95.8% |
| Distributable reserves | 133 | €71,846 | €3,029 | -€68,817 | -95.8% |
| Amounts payable | 17/49 | €95,192 | €115,748 | +€20,556 | +21.6% |
| Amounts payable after more than one year | 17 | €55,425 | €27,828 | -€27,597 | -49.8% |
| Financial debts | 170/4 | €55,425 | €27,828 | -€27,597 | -49.8% |
| Amounts payable within one year | 42/48 | €39,767 | €87,920 | +€48,153 | +121% |
| Current portion of amounts payable after more than one year | 42 | €27,367 | €27,597 | +€230 | +0.8% |
| Trade debts | 44 | €713 | €761 | +€48 | +6.7% |
| Suppliers | 440/4 | €713 | €761 | +€48 | +6.7% |
| Taxes, remuneration and social security | 45 | €9,667 | €12,695 | +€3,027 | +31.3% |
| Taxes | 450/3 | €7,777 | €8,915 | +€1,137 | +14.6% |
| Remuneration and social security | 454/9 | €1,890 | €3,780 | +€1,890 | +100% |
| Other amounts payable | 47/48 | €2,020 | €46,868 | +€44,848 | +2,221% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,435 | €10,447 | +€6,011 | +136% |
| Other operating charges | 640/8 | €697 | €521 | -€176 | -25.3% |
| Gross operating margin | 9900 | €88,251 | €114,839 | +€26,588 | +30.1% |
| Operating profit (loss) | 9901 | €83,119 | €103,872 | +€20,753 | +25.0% |
| Financial income | 75/76B | €113,910 | - | -€113,910 | |
| Recurring financial income | 75 | €113,910 | - | -€113,910 | |
| Financial charges | 65/66B | €996 | €713 | -€283 | -28.4% |
| Recurring financial charges | 65 | €996 | €713 | -€283 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €196,032 | €103,159 | -€92,873 | -47.4% |
| Income taxes | 67/77 | €22,544 | €26,977 | +€4,433 | +19.7% |
| Profit (loss) for the period | 9904 | €173,489 | €76,183 | -€97,306 | -56.1% |
| Profit (loss) for the period to be appropriated | 9905 | €173,489 | €76,183 | -€97,306 | -56.1% |
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 28 October 2026 via checked.be.