Tom Grosemans: 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 Grosemans
Largest movements
- Cash +€31,326
up €31,326 (+44.3%), from €70,745 to €102,072
mainly Net result for the year (+€30,774) and Depreciation (+€6,235)
- Receivables within one year -€6,110
down €6,110 (-39.4%), from €15,494 to €9,384
of which Trade receivables: -€6,170
- Tangible fixed assets -€4,230
down €4,230 (-32.3%), from €13,109 to €8,880
- Reserves +€30,774
up €30,774 (+38.8%), from €79,219 to €109,993
- Current portion of long-term debt -€4,365
down €4,365 (-65.8%), from €6,637 to €2,272
- Other debts -€2,736
down €2,736 (-52.5%), from €5,212 to €2,476
- Debts after one year -€2,272
no longer reported in 2025 (was €2,272)
- Gross operating margin +€14,055
up €14,055 (+41.0%), from €34,301 to €48,355
- Taxes +€3,068
up €3,068 (+52.5%), from €5,840 to €8,908
- Other operating charges +€1,263
up €1,263 (+2,038%), from €62 to €1,325
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 | €102,850 | €123,102 | +€20,252 | +19.7% |
| Fixed assets | 21/28 | €13,109 | €8,880 | -€4,230 | -32.3% |
| Tangible fixed assets | 22/27 | €13,109 | €8,880 | -€4,230 | -32.3% |
| Furniture and vehicles | 24 | €13,109 | €8,880 | -€4,230 | -32.3% |
| Current assets | 29/58 | €89,741 | €114,222 | +€24,481 | +27.3% |
| Amounts receivable within one year | 40/41 | €15,494 | €9,384 | -€6,110 | -39.4% |
| Trade receivables | 40 | €15,334 | €9,164 | -€6,170 | -40.2% |
| Other amounts receivable | 41 | €160 | €220 | +€59 | +37.0% |
| Cash at bank and in hand | 54/58 | €70,745 | €102,072 | +€31,326 | +44.3% |
| Deferred charges and accrued income | 490/1 | €3,501 | €2,766 | -€735 | -21.0% |
| Total equity and liabilities | 10/49 | €102,850 | €123,102 | +€20,252 | +19.7% |
| Equity | 10/15 | €82,219 | €112,993 | +€30,774 | +37.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €79,219 | €109,993 | +€30,774 | +38.8% |
| Distributable reserves | 133 | €79,219 | €109,993 | +€30,774 | +38.8% |
| Amounts payable | 17/49 | €20,631 | €10,108 | -€10,523 | -51.0% |
| Amounts payable after more than one year | 17 | €2,272 | - | -€2,272 | |
| Financial debts | 170/4 | €2,272 | - | -€2,272 | |
| Amounts payable within one year | 42/48 | €18,360 | €10,108 | -€8,251 | -44.9% |
| Current portion of amounts payable after more than one year | 42 | €6,637 | €2,272 | -€4,365 | -65.8% |
| Trade debts | 44 | €3,093 | €2,225 | -€868 | -28.1% |
| Suppliers | 440/4 | €3,093 | €2,225 | -€868 | -28.1% |
| Taxes, remuneration and social security | 45 | €3,417 | €3,135 | -€282 | -8.2% |
| Taxes | 450/3 | €3,417 | €3,135 | -€282 | -8.2% |
| Other amounts payable | 47/48 | €5,212 | €2,476 | -€2,736 | -52.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,826 | €6,235 | +€408 | +7.0% |
| Other operating charges | 640/8 | €62 | €1,325 | +€1,263 | +2,038% |
| Gross operating margin | 9900 | €34,301 | €48,355 | +€14,055 | +41.0% |
| Operating profit (loss) | 9901 | €28,412 | €40,795 | +€12,383 | +43.6% |
| Financial income | 75/76B | €71 | €60 | -€11 | -14.9% |
| Recurring financial income | 75 | €71 | €60 | -€11 | -14.9% |
| Financial charges | 65/66B | €1,636 | €1,173 | -€463 | -28.3% |
| Recurring financial charges | 65 | €1,636 | €1,173 | -€463 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €26,847 | €39,682 | +€12,835 | +47.8% |
| Income taxes | 67/77 | €5,840 | €8,908 | +€3,068 | +52.5% |
| Profit (loss) for the period | 9904 | €21,008 | €30,774 | +€9,767 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,008 | €30,774 | +€9,767 | +46.5% |
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 29 October 2026 via checked.be.