TOM DECORTE: what changed
Two fiscal 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 DECORTE
Largest movements
- Cash +€16,104
up €16,104 (+138.4%), from €11,638 to €27,742
mainly Net result for the year (+€29,361) and Tax, wage and social debts (+€6,644)
- Reserves +€29,361
up €29,361 (+4.2%), from €691,238 to €720,599
- Debts after one year -€18,145
down €18,145 (-8.8%), from €205,345 to €187,201
of which Financial debts: -€18,145
- Gross operating margin +€23,689
up €23,689 (+65.8%), from €35,985 to €59,674
- Taxes +€9,980
up €9,980 (+137.3%), from €7,270 to €17,251
- Depreciation -€5,025
down €5,025 (-68.3%), from €7,362 to €2,337
- Financial charges -€773
down €773 (-7.6%), from €10,182 to €9,409
- Other operating charges -€662
down €662 (-33.5%), from €1,979 to €1,316
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 | €993,102 | €1,010,950 | +€17,848 | +1.8% |
| Fixed assets | 21/28 | €969,364 | €970,090 | +€726 | +0.1% |
| Tangible fixed assets | 22/27 | €6,164 | €6,890 | +€726 | +11.8% |
| Furniture and vehicles | 24 | €1,185 | €3,690 | +€2,505 | +211.5% |
| Leasing and similar rights | 25 | €1,779 | €0 | -€1,779 | -100.0% |
| Other tangible fixed assets | 26 | €3,200 | €3,200 | = | 0.0% |
| Financial fixed assets | 28 | €963,200 | €963,200 | = | 0.0% |
| Current assets | 29/58 | €23,738 | €40,860 | +€17,122 | +72.1% |
| Amounts receivable within one year | 40/41 | €12,100 | €12,100 | = | 0.0% |
| Trade receivables | 40 | €12,100 | €12,100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,638 | €27,742 | +€16,104 | +138.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,018 | +€1,018 | |
| Total equity and liabilities | 10/49 | €993,102 | €1,010,950 | +€17,848 | +1.8% |
| Equity | 10/15 | €703,638 | €732,999 | +€29,361 | +4.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €691,238 | €720,599 | +€29,361 | +4.2% |
| Distributable reserves | 133 | €691,238 | €720,599 | +€29,361 | +4.2% |
| Amounts payable | 17/49 | €289,464 | €277,951 | -€11,513 | -4.0% |
| Amounts payable after more than one year | 17 | €205,345 | €187,201 | -€18,145 | -8.8% |
| Financial debts | 170/4 | €55,345 | €37,201 | -€18,145 | -32.8% |
| Other amounts payable | 178/9 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €76,497 | €82,661 | +€6,164 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €19,052 | €18,145 | -€908 | -4.8% |
| Financial debts | 43 | €1,689 | €3,368 | +€1,679 | +99.4% |
| Credit institutions | 430/8 | €1,689 | €3,368 | +€1,679 | +99.4% |
| Trade debts | 44 | €216 | €377 | +€160 | +74.2% |
| Suppliers | 440/4 | €216 | €377 | +€160 | +74.2% |
| Taxes, remuneration and social security | 45 | €9,648 | €16,293 | +€6,644 | +68.9% |
| Taxes | 450/3 | €9,648 | €16,293 | +€6,644 | +68.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €45,891 | €44,479 | -€1,412 | -3.1% |
| Accrued charges and deferred income | 492/3 | €7,622 | €8,089 | +€467 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,362 | €2,337 | -€5,025 | -68.3% |
| Other operating charges | 640/8 | €1,979 | €1,316 | -€662 | -33.5% |
| Gross operating margin | 9900 | €35,985 | €59,674 | +€23,689 | +65.8% |
| Operating profit (loss) | 9901 | €26,644 | €56,020 | +€29,376 | +110.3% |
| Financial charges | 65/66B | €10,182 | €9,409 | -€773 | -7.6% |
| Recurring financial charges | 65 | €10,182 | €9,409 | -€773 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €16,463 | €46,611 | +€30,149 | +183.1% |
| Income taxes | 67/77 | €7,270 | €17,251 | +€9,980 | +137.3% |
| Profit (loss) for the period | 9904 | €9,192 | €29,361 | +€20,169 | +219.4% |
| Profit (loss) for the period to be appropriated | 9905 | €9,192 | €29,361 | +€20,169 | +219.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.