Vanessa HENRY: 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.
Vanessa HENRY
Largest movements
- Cash -€28,000
down €28,000 (-46.6%), from €60,118 to €32,118
mainly Contributions, distributions and other (-€47,822) and Receivables within one year (-€26,604)
- Receivables within one year +€26,604
up €26,604 (+40.0%), from €66,550 to €93,154
- Tangible fixed assets -€12,082
down €12,082 (-24.5%), from €49,338 to €37,256
- Deferred charges and accrued income -€8,224
down €8,224 (-78.7%), from €10,447 to €2,223
- Debts after one year -€11,535
down €11,535 (-29.4%), from €39,181 to €27,647
- Tax, wage and social debts -€5,739
down €5,739 (-95.2%), from €6,031 to €292
of which Remuneration and social security: -€3,000
- Other debts -€3,671
down €3,671 (-7.1%), from €51,493 to €47,822
- Accrued charges and deferred income -€2,600
no longer reported in 2025 (was €2,600)
- Gross operating margin -€9,777
down €9,777 (-11.1%), from €87,688 to €77,912
- Other operating charges -€4,955
down €4,955 (-78.6%), from €6,306 to €1,352
- Taxes -€935
down €935 (-4.8%), from €19,500 to €18,565
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 | €186,454 | €164,751 | -€21,702 | -11.6% |
| Fixed assets | 21/28 | €49,338 | €37,256 | -€12,082 | -24.5% |
| Tangible fixed assets | 22/27 | €49,338 | €37,256 | -€12,082 | -24.5% |
| Furniture and vehicles | 24 | €49,338 | €37,256 | -€12,082 | -24.5% |
| Current assets | 29/58 | €137,116 | €127,495 | -€9,621 | -7.0% |
| Amounts receivable within one year | 40/41 | €66,550 | €93,154 | +€26,604 | +40.0% |
| Other amounts receivable | 41 | €66,550 | €93,154 | +€26,604 | +40.0% |
| Cash at bank and in hand | 54/58 | €60,118 | €32,118 | -€28,000 | -46.6% |
| Deferred charges and accrued income | 490/1 | €10,447 | €2,223 | -€8,224 | -78.7% |
| Total equity and liabilities | 10/49 | €186,454 | €164,751 | -€21,702 | -11.6% |
| Equity | 10/15 | €72,203 | €72,203 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €69,703 | €69,703 | = | 0.0% |
| Distributable reserves | 133 | €69,703 | €69,703 | = | 0.0% |
| Amounts payable | 17/49 | €114,250 | €92,548 | -€21,702 | -19.0% |
| Amounts payable after more than one year | 17 | €39,181 | €27,647 | -€11,535 | -29.4% |
| Financial debts | 170/4 | €39,181 | €27,647 | -€11,535 | -29.4% |
| Amounts payable within one year | 42/48 | €72,469 | €64,902 | -€7,567 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €11,096 | €11,535 | +€438 | +4.0% |
| Trade debts | 44 | €3,849 | €5,253 | +€1,404 | +36.5% |
| Suppliers | 440/4 | €3,849 | €5,253 | +€1,404 | +36.5% |
| Taxes, remuneration and social security | 45 | €6,031 | €292 | -€5,739 | -95.2% |
| Taxes | 450/3 | €3,031 | €292 | -€2,739 | -90.4% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €51,493 | €47,822 | -€3,671 | -7.1% |
| Accrued charges and deferred income | 492/3 | €2,600 | - | -€2,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,155 | €12,082 | -€74 | -0.6% |
| Other operating charges | 640/8 | €6,306 | €1,352 | -€4,955 | -78.6% |
| Gross operating margin | 9900 | €87,688 | €77,912 | -€9,777 | -11.1% |
| Operating profit (loss) | 9901 | €69,227 | €64,479 | -€4,748 | -6.9% |
| Financial income | 75/76B | €3,786 | €3,873 | +€87 | +2.3% |
| Recurring financial income | 75 | €3,786 | €3,873 | +€87 | +2.3% |
| Financial charges | 65/66B | €2,020 | €1,965 | -€55 | -2.7% |
| Recurring financial charges | 65 | €2,020 | €1,965 | -€55 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €70,993 | €66,387 | -€4,606 | -6.5% |
| Income taxes | 67/77 | €19,500 | €18,565 | -€935 | -4.8% |
| Profit (loss) for the period | 9904 | €51,493 | €47,822 | -€3,671 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,493 | €47,822 | -€3,671 | -7.1% |
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 24 October 2026 via checked.be.