Tom De Coster: 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.
Tom De Coster
Largest movements
- Cash +€74,336
up €74,336 (+116.4%), from €63,840 to €138,176
mainly Net result for the year (+€66,049) and Receivables after one year (+€54,173)
- Receivables after one year -€54,173
down €54,173 (-97.6%), from €55,500 to €1,327
- Tangible fixed assets -€12,374
down €12,374 (-45.8%), from €27,018 to €14,644
of which Furniture and vehicles: -€12,458
- Reserves +€23,049
up €23,049 (+7.9%), from €291,172 to €314,220
of which Distributable reserves: +€23,049
- Other debts -€9,197
down €9,197 (-81.1%), from €11,347 to €2,150
- Gross operating margin -€16,508
down €16,508 (-13.9%), from €118,576 to €102,068
- Taxes -€4,575
down €4,575 (-14.6%), from €31,422 to €26,848
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.
Cash bridge derived
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 | €342,141 | €354,387 | +€12,246 | +3.6% |
| Fixed assets | 21/28 | €27,018 | €14,644 | -€12,374 | -45.8% |
| Tangible fixed assets | 22/27 | €27,018 | €14,644 | -€12,374 | -45.8% |
| Plant, machinery and equipment | 23 | €279 | €504 | +€225 | +80.4% |
| Furniture and vehicles | 24 | €26,088 | €13,630 | -€12,458 | -47.8% |
| Other tangible fixed assets | 26 | €650 | €510 | -€141 | -21.6% |
| Current assets | 29/58 | €315,123 | €339,743 | +€24,621 | +7.8% |
| Amounts receivable after more than one year | 29 | €55,500 | €1,327 | -€54,173 | -97.6% |
| Other amounts receivable | 291 | €55,500 | €1,327 | -€54,173 | -97.6% |
| Amounts receivable within one year | 40/41 | €13,034 | €12,711 | -€322 | -2.5% |
| Trade receivables | 40 | €5,612 | €1,847 | -€3,765 | -67.1% |
| Other amounts receivable | 41 | €7,422 | €10,864 | +€3,442 | +46.4% |
| Current investments | 50/53 | €180,894 | €183,767 | +€2,873 | +1.6% |
| Cash at bank and in hand | 54/58 | €63,840 | €138,176 | +€74,336 | +116.4% |
| Deferred charges and accrued income | 490/1 | €1,856 | €3,762 | +€1,907 | +102.8% |
| Total equity and liabilities | 10/49 | €342,141 | €354,387 | +€12,246 | +3.6% |
| Equity | 10/15 | €309,772 | €332,820 | +€23,049 | +7.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €291,172 | €314,220 | +€23,049 | +7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €289,312 | €312,360 | +€23,049 | +8.0% |
| Amounts payable | 17/49 | €32,369 | €21,567 | -€10,802 | -33.4% |
| Amounts payable within one year | 42/48 | €32,369 | €20,567 | -€11,802 | -36.5% |
| Trade debts | 44 | €4,628 | €4,224 | -€404 | -8.7% |
| Suppliers | 440/4 | €4,628 | €4,224 | -€404 | -8.7% |
| Taxes, remuneration and social security | 45 | €16,395 | €14,193 | -€2,202 | -13.4% |
| Taxes | 450/3 | €13,630 | €14,193 | +€563 | +4.1% |
| Remuneration and social security | 454/9 | €2,765 | - | -€2,765 | |
| Other amounts payable | 47/48 | €11,347 | €2,150 | -€9,197 | -81.1% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,733 | €12,780 | +€47 | +0.4% |
| Other operating charges | 640/8 | €98 | €101 | +€3 | +3.4% |
| Gross operating margin | 9900 | €118,576 | €102,068 | -€16,508 | -13.9% |
| Operating profit (loss) | 9901 | €105,746 | €89,187 | -€16,558 | -15.7% |
| Financial income | 75/76B | €4,145 | €3,781 | -€365 | -8.8% |
| Recurring financial income | 75 | €4,145 | €3,781 | -€365 | -8.8% |
| Financial charges | 65/66B | €156 | €72 | -€85 | -54.1% |
| Recurring financial charges | 65 | €156 | €72 | -€85 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | €109,735 | €92,896 | -€16,838 | -15.3% |
| Income taxes | 67/77 | €31,422 | €26,848 | -€4,575 | -14.6% |
| Profit (loss) for the period | 9904 | €78,313 | €66,049 | -€12,264 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,313 | €66,049 | -€12,264 | -15.7% |
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 10 October 2026 via checked.be.