Wilfried De Niel: 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.
Wilfried De Niel
Largest movements
- Cash +€65,205
up €65,205 (+31.3%), from €208,437 to €273,642
mainly Net result for the year (+€63,357) and Tax, wage and social debts (+€9,513)
- Receivables within one year -€6,519
down €6,519 (-28.2%), from €23,109 to €16,590
of which Other amounts receivable: -€7,071
- Reserves +€44,814
up €44,814 (+27.5%), from €162,764 to €207,578
of which Distributable reserves: +€44,814
- Tax, wage and social debts +€9,513
up €9,513 (+117%), from €8,130 to €17,643
- Other debts +€4,448
up €4,448 (+9.4%), from €47,263 to €51,711
- Gross operating margin +€10,130
up €10,130 (+12.9%), from €78,329 to €88,459
- Taxes +€2,734
up €2,734 (+12.8%), from €21,430 to €24,163
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 | €231,954 | €290,652 | +€58,698 | +25.3% |
| Current assets | 29/58 | €231,954 | €290,652 | +€58,698 | +25.3% |
| Amounts receivable within one year | 40/41 | €23,109 | €16,590 | -€6,519 | -28.2% |
| Trade receivables | 40 | €16,039 | €16,590 | +€552 | +3.4% |
| Other amounts receivable | 41 | €7,071 | - | -€7,071 | |
| Cash at bank and in hand | 54/58 | €208,437 | €273,642 | +€65,205 | +31.3% |
| Deferred charges and accrued income | 490/1 | €408 | €420 | +€12 | +3.0% |
| Total equity and liabilities | 10/49 | €231,954 | €290,652 | +€58,698 | +25.3% |
| Equity | 10/15 | €175,164 | €219,978 | +€44,814 | +25.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €162,764 | €207,578 | +€44,814 | +27.5% |
| Non-distributable reserves | 130/1 | €1,074 | €1,074 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,074 | €1,074 | = | 0.0% |
| Distributable reserves | 133 | €161,690 | €206,504 | +€44,814 | +27.7% |
| Amounts payable | 17/49 | €56,790 | €70,675 | +€13,884 | +24.4% |
| Amounts payable within one year | 42/48 | €56,790 | €70,675 | +€13,884 | +24.4% |
| Trade debts | 44 | €1,398 | €1,321 | -€76 | -5.5% |
| Suppliers | 440/4 | €1,398 | €1,321 | -€76 | -5.5% |
| Taxes, remuneration and social security | 45 | €8,130 | €17,643 | +€9,513 | +117% |
| Taxes | 450/3 | €8,130 | €17,643 | +€9,513 | +117% |
| Other amounts payable | 47/48 | €47,263 | €51,711 | +€4,448 | +9.4% |
| Other operating charges | 640/8 | €914 | €866 | -€48 | -5.3% |
| Gross operating margin | 9900 | €78,329 | €88,459 | +€10,130 | +12.9% |
| Operating profit (loss) | 9901 | €77,415 | €87,593 | +€10,178 | +13.1% |
| Financial charges | 65/66B | €69 | €74 | +€5 | +6.5% |
| Recurring financial charges | 65 | €69 | €74 | +€5 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €77,346 | €87,520 | +€10,174 | +13.2% |
| Income taxes | 67/77 | €21,430 | €24,163 | +€2,734 | +12.8% |
| Profit (loss) for the period | 9904 | €55,917 | €63,357 | +€7,440 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €55,917 | €63,357 | +€7,440 | +13.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.