TOM EESTERMANS: 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 EESTERMANS
Largest movements
- Receivables within one year +€4,842
up €4,842 (+18.5%), from €26,111 to €30,952
of which Trade receivables: +€7,311
- Cash +€4,760
up €4,760 (+42.9%), from €11,100 to €15,860
mainly Net result for the year (+€33,833) and Other debts (+€10,549)
- Other debts +€10,549
up €10,549 (+45.3%), from €23,303 to €33,852
- Trade debts -€804
down €804 (-72.0%), from €1,116 to €312
- Gross operating margin +€18,907
up €18,907 (+64.4%), from €29,345 to €48,252
- Taxes +€7,074
up €7,074 (+285.1%), from €2,481 to €9,555
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 | €43,019 | €52,764 | +€9,745 | +22.7% |
| Fixed assets | 21/28 | €2,501 | €2,586 | +€85 | +3.4% |
| Tangible fixed assets | 22/27 | €2,486 | €2,571 | +€85 | +3.4% |
| Plant, machinery and equipment | 23 | €155 | €40 | -€116 | -74.5% |
| Furniture and vehicles | 24 | €2,330 | €2,531 | +€201 | +8.6% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €40,518 | €50,179 | +€9,661 | +23.8% |
| Stocks and contracts in progress | 3 | €2,000 | €2,000 | = | 0.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,111 | €30,952 | +€4,842 | +18.5% |
| Trade receivables | 40 | €18,353 | €25,664 | +€7,311 | +39.8% |
| Other amounts receivable | 41 | €7,757 | €5,288 | -€2,469 | -31.8% |
| Cash at bank and in hand | 54/58 | €11,100 | €15,860 | +€4,760 | +42.9% |
| Deferred charges and accrued income | 490/1 | €1,307 | €1,366 | +€59 | +4.5% |
| Total equity and liabilities | 10/49 | €43,019 | €52,764 | +€9,745 | +22.7% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €24,419 | €34,164 | +€9,745 | +39.9% |
| Amounts payable within one year | 42/48 | €24,419 | €34,164 | +€9,745 | +39.9% |
| Trade debts | 44 | €1,116 | €312 | -€804 | -72.0% |
| Suppliers | 440/4 | €1,116 | €312 | -€804 | -72.0% |
| Other amounts payable | 47/48 | €23,303 | €33,852 | +€10,549 | +45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,440 | €983 | -€457 | -31.7% |
| Other operating charges | 640/8 | €1,418 | €1,259 | -€159 | -11.2% |
| Gross operating margin | 9900 | €29,345 | €48,252 | +€18,907 | +64.4% |
| Operating profit (loss) | 9901 | €26,488 | €46,010 | +€19,522 | +73.7% |
| Financial income | 75/76B | €5 | €0 | -€5 | -96.0% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -96.0% |
| Financial charges | 65/66B | €2,907 | €2,622 | -€284 | -9.8% |
| Recurring financial charges | 65 | €2,907 | €2,622 | -€284 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €23,586 | €43,388 | +€19,802 | +84.0% |
| Income taxes | 67/77 | €2,481 | €9,555 | +€7,074 | +285.1% |
| Profit (loss) for the period | 9904 | €21,105 | €33,833 | +€12,728 | +60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,105 | €33,833 | +€12,728 | +60.3% |
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 8 October 2026 via checked.be.