Tom Herbosch: 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 Herbosch
Largest movements
- Cash +€80,202
up €80,202 (+1,897%), from €4,227 to €84,429
mainly Debts after one year (+€50,000) and Net result for the year (+€45,853)
- Receivables within one year -€28,794
down €28,794 (-76.9%), from €37,421 to €8,627
of which Trade receivables: -€34,401
- Tangible fixed assets +€23,360
up €23,360 (+250%), from €9,327 to €32,686
of which Plant, machinery and equipment: +€17,260
- Intangible fixed assets -€7,000
down €7,000 (-25.0%), from €28,000 to €21,000
- Debts after one year +€50,000
new in 2025: €50,000
- Other debts -€31,065
down €31,065 (-69.4%), from €44,749 to €13,683
- Profit (loss) carried forward +€28,048
up €28,048, from -€28,048 to €0
- Trade debts +€19,315
up €19,315 (+87.8%), from €22,011 to €41,326
- Reserves +€17,804
up €17,804 (+189%), from €9,416 to €27,220
- Gross operating margin +€32,820
up €32,820 (+56.1%), from €58,550 to €91,370
- Staff costs -€25,942
down €25,942 (-61.0%), from €42,559 to €16,617
- Taxes +€9,029
up €9,029 (+6,471%), from €140 to €9,168
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 | €80,132 | €148,215 | +€68,083 | +85.0% |
| Fixed assets | 21/28 | €37,327 | €53,686 | +€16,360 | +43.8% |
| Intangible fixed assets | 21 | €28,000 | €21,000 | -€7,000 | -25.0% |
| Tangible fixed assets | 22/27 | €9,327 | €32,686 | +€23,360 | +250% |
| Land and buildings | 22 | €5,131 | €0 | -€5,131 | -100% |
| Plant, machinery and equipment | 23 | €4,196 | €21,456 | +€17,260 | +411% |
| Furniture and vehicles | 24 | - | €11,230 | +€11,230 | |
| Current assets | 29/58 | €42,806 | €94,529 | +€51,723 | +121% |
| Amounts receivable within one year | 40/41 | €37,421 | €8,627 | -€28,794 | -76.9% |
| Trade receivables | 40 | €34,647 | €246 | -€34,401 | -99.3% |
| Other amounts receivable | 41 | €2,774 | €8,381 | +€5,607 | +202% |
| Cash at bank and in hand | 54/58 | €4,227 | €84,429 | +€80,202 | +1,897% |
| Deferred charges and accrued income | 490/1 | €1,157 | €1,472 | +€315 | +27.2% |
| Total equity and liabilities | 10/49 | €80,132 | €148,215 | +€68,083 | +85.0% |
| Equity | 10/15 | -€12,133 | €33,720 | +€45,853 | |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €9,416 | €27,220 | +€17,804 | +189% |
| Distributable reserves | 133 | €9,416 | €27,220 | +€17,804 | +189% |
| Profit (loss) carried forward | 14 | -€28,048 | €0 | +€28,048 | |
| Amounts payable | 17/49 | €92,265 | €114,495 | +€22,230 | +24.1% |
| Amounts payable after more than one year | 17 | - | €50,000 | +€50,000 | |
| Financial debts | 170/4 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €92,265 | €64,495 | -€27,770 | -30.1% |
| Financial debts | 43 | - | €358 | +€358 | |
| Credit institutions | 430/8 | - | €358 | +€358 | |
| Trade debts | 44 | €22,011 | €41,326 | +€19,315 | +87.8% |
| Suppliers | 440/4 | €22,011 | €41,326 | +€19,315 | +87.8% |
| Taxes, remuneration and social security | 45 | €25,505 | €9,128 | -€16,377 | -64.2% |
| Taxes | 450/3 | €11,711 | €9,128 | -€2,583 | -22.1% |
| Remuneration and social security | 454/9 | €13,795 | €0 | -€13,795 | -100% |
| Other amounts payable | 47/48 | €44,749 | €13,683 | -€31,065 | -69.4% |
| Remuneration, social security and pensions | 62 | €42,559 | €16,617 | -€25,942 | -61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,649 | €12,012 | +€362 | +3.1% |
| Other operating charges | 640/8 | €834 | €1,036 | +€202 | +24.2% |
| Non-recurring operating charges | 66A | - | €5,131 | +€5,131 | |
| Gross operating margin | 9900 | €58,550 | €91,370 | +€32,820 | +56.1% |
| Operating profit (loss) | 9901 | €3,508 | €56,575 | +€53,067 | +1,513% |
| Financial income | 75/76B | €10 | €28 | +€18 | +176% |
| Recurring financial income | 75 | €10 | €28 | +€18 | +176% |
| Financial charges | 65/66B | €1,051 | €1,581 | +€530 | +50.4% |
| Recurring financial charges | 65 | €1,051 | €1,581 | +€530 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | €2,466 | €55,021 | +€52,555 | +2,131% |
| Income taxes | 67/77 | €140 | €9,168 | +€9,029 | +6,471% |
| Profit (loss) for the period | 9904 | €2,327 | €45,853 | +€43,526 | +1,871% |
| Profit (loss) for the period to be appropriated | 9905 | €2,327 | €45,853 | +€43,526 | +1,871% |
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 23 October 2026 via checked.be.