Tom Schoors: 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 Schoors
Largest movements
- Receivables within one year +€214,042
up €214,042 (+68.0%), from €314,827 to €528,869
of which Trade receivables: +€211,726
- Cash +€57,316
up €57,316 (+19.8%), from €289,988 to €347,304
mainly Net result for the year (+€1.1m) and Other debts (+€192,554)
- Other debts +€192,554
up €192,554 (+26.0%), from €740,891 to €933,445
- Profit (loss) carried forward +€39,828
up €39,828 (+97.5%), from €40,851 to €80,678
- Short-term financial debts +€23,557
up €23,557 (+34.9%), from €67,498 to €91,056
- Gross operating margin +€452,438
up €452,438 (+42.5%), from €1.1m to €1.5m
- Taxes +€110,317
up €110,317 (+42.4%), from €260,141 to €370,458
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 | €915,306 | €1,177,411 | +€262,105 | +28.6% |
| Fixed assets | 21/28 | €29,288 | €19,978 | -€9,310 | -31.8% |
| Tangible fixed assets | 22/27 | €29,288 | €19,978 | -€9,310 | -31.8% |
| Furniture and vehicles | 24 | €3,108 | €1,697 | -€1,412 | -45.4% |
| Other tangible fixed assets | 26 | €26,180 | €18,281 | -€7,898 | -30.2% |
| Current assets | 29/58 | €886,018 | €1,157,433 | +€271,415 | +30.6% |
| Amounts receivable within one year | 40/41 | €314,827 | €528,869 | +€214,042 | +68.0% |
| Trade receivables | 40 | €301,704 | €513,430 | +€211,726 | +70.2% |
| Other amounts receivable | 41 | €13,122 | €15,438 | +€2,316 | +17.6% |
| Current investments | 50/53 | €279,268 | €279,268 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €289,988 | €347,304 | +€57,316 | +19.8% |
| Deferred charges and accrued income | 490/1 | €1,935 | €1,992 | +€57 | +2.9% |
| Total equity and liabilities | 10/49 | €915,306 | €1,177,411 | +€262,105 | +28.6% |
| Equity | 10/15 | €60,851 | €100,678 | +€39,828 | +65.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €40,851 | €80,678 | +€39,828 | +97.5% |
| Amounts payable | 17/49 | €854,455 | €1,076,732 | +€222,277 | +26.0% |
| Amounts payable within one year | 42/48 | €853,304 | €1,076,732 | +€223,429 | +26.2% |
| Financial debts | 43 | €67,498 | €91,056 | +€23,557 | +34.9% |
| Credit institutions | 430/8 | €67,498 | €91,056 | +€23,557 | +34.9% |
| Trade debts | 44 | €3,297 | €0 | -€3,297 | -100% |
| Suppliers | 440/4 | €3,297 | €0 | -€3,297 | -100% |
| Taxes, remuneration and social security | 45 | €41,617 | €52,231 | +€10,614 | +25.5% |
| Taxes | 450/3 | €39,617 | €46,231 | +€6,614 | +16.7% |
| Remuneration and social security | 454/9 | €2,000 | €6,000 | +€4,000 | +200% |
| Other amounts payable | 47/48 | €740,891 | €933,445 | +€192,554 | +26.0% |
| Accrued charges and deferred income | 492/3 | €1,151 | €0 | -€1,151 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,679 | €9,310 | +€631 | +7.3% |
| Other operating charges | 640/8 | €8,050 | €8,246 | +€196 | +2.4% |
| Gross operating margin | 9900 | €1,064,117 | €1,516,555 | +€452,438 | +42.5% |
| Operating profit (loss) | 9901 | €1,047,388 | €1,498,999 | +€451,611 | +43.1% |
| Financial income | 75/76B | €10,191 | €4,223 | -€5,968 | -58.6% |
| Recurring financial income | 75 | €10,191 | €4,223 | -€5,968 | -58.6% |
| Financial charges | 65/66B | €6,587 | €7,936 | +€1,349 | +20.5% |
| Recurring financial charges | 65 | €6,587 | €7,936 | +€1,349 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €1,050,992 | €1,495,286 | +€444,294 | +42.3% |
| Income taxes | 67/77 | €260,141 | €370,458 | +€110,317 | +42.4% |
| Profit (loss) for the period | 9904 | €790,851 | €1,124,828 | +€333,977 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €790,851 | €1,124,828 | +€333,977 | +42.2% |
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 30 October 2026 via checked.be.