Vincent Slembrouck: 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.
Vincent Slembrouck
Largest movements
- Cash +€80,605
up €80,605 (+65.8%), from €122,489 to €203,094
mainly Net result for the year (+€79,107) and Tax, wage and social debts (+€6,490)
- Tangible fixed assets +€3,712
up €3,712 (+58.3%), from €6,368 to €10,080
- Receivables within one year +€2,599
up €2,599 (+9,599%), from €27 to €2,626
of which Trade receivables: +€2,626
- Reserves +€79,107
up €79,107 (+88.4%), from €89,517 to €168,624
- Tax, wage and social debts +€6,490
up €6,490 (+19.0%), from €34,118 to €40,607
- Gross operating margin +€12,872
up €12,872 (+14.2%), from €90,646 to €103,518
- Taxes +€4,287
up €4,287 (+23.2%), from €18,449 to €22,736
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 | €131,230 | €218,322 | +€87,091 | +66.4% |
| Fixed assets | 21/28 | €6,368 | €10,080 | +€3,712 | +58.3% |
| Tangible fixed assets | 22/27 | €6,368 | €10,080 | +€3,712 | +58.3% |
| Other tangible fixed assets | 26 | €6,368 | €10,080 | +€3,712 | +58.3% |
| Current assets | 29/58 | €124,863 | €208,242 | +€83,380 | +66.8% |
| Amounts receivable within one year | 40/41 | €27 | €2,626 | +€2,599 | +9,599% |
| Trade receivables | 40 | - | €2,626 | +€2,626 | |
| Other amounts receivable | 41 | €27 | €0 | -€27 | -100% |
| Cash at bank and in hand | 54/58 | €122,489 | €203,094 | +€80,605 | +65.8% |
| Deferred charges and accrued income | 490/1 | €2,347 | €2,522 | +€175 | +7.5% |
| Total equity and liabilities | 10/49 | €131,230 | €218,322 | +€87,091 | +66.4% |
| Equity | 10/15 | €94,517 | €173,624 | +€79,107 | +83.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €89,517 | €168,624 | +€79,107 | +88.4% |
| Distributable reserves | 133 | €89,517 | €168,624 | +€79,107 | +88.4% |
| Amounts payable | 17/49 | €36,713 | €44,698 | +€7,984 | +21.7% |
| Amounts payable within one year | 42/48 | €36,713 | €44,698 | +€7,984 | +21.7% |
| Financial debts | 43 | €4 | €1,484 | +€1,480 | +38,445% |
| Credit institutions | 430/8 | €4 | €1,484 | +€1,480 | +38,445% |
| Trade debts | 44 | €2,547 | €2,424 | -€123 | -4.8% |
| Suppliers | 440/4 | €2,547 | €2,424 | -€123 | -4.8% |
| Taxes, remuneration and social security | 45 | €34,118 | €40,607 | +€6,490 | +19.0% |
| Taxes | 450/3 | €34,118 | €40,607 | +€6,490 | +19.0% |
| Other amounts payable | 47/48 | €45 | €182 | +€137 | +305% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €347 | €860 | +€513 | +148% |
| Other operating charges | 640/8 | €242 | €821 | +€579 | +239% |
| Gross operating margin | 9900 | €90,646 | €103,518 | +€12,872 | +14.2% |
| Operating profit (loss) | 9901 | €90,056 | €101,836 | +€11,780 | +13.1% |
| Financial income | 75/76B | €217 | €1,248 | +€1,031 | +476% |
| Recurring financial income | 75 | €217 | €1,248 | +€1,031 | +476% |
| Financial charges | 65/66B | €1,132 | €1,241 | +€109 | +9.6% |
| Recurring financial charges | 65 | €1,132 | €1,241 | +€109 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €89,141 | €101,843 | +€12,702 | +14.2% |
| Income taxes | 67/77 | €18,449 | €22,736 | +€4,287 | +23.2% |
| Profit (loss) for the period | 9904 | €70,693 | €79,107 | +€8,414 | +11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,693 | €79,107 | +€8,414 | +11.9% |
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 14 October 2026 via checked.be.