WOUTER TISTAERT: 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.
WOUTER TISTAERT
Largest movements
- Cash -€78,130
down €78,130 (-22.6%), from €346,061 to €267,931
mainly Investment in fixed assets (net) (-€70,979) and Receivables within one year (-€19,743)
- Tangible fixed assets +€60,904
up €60,904 (+208%), from €29,279 to €90,183
of which Furniture and vehicles: +€67,921
- Receivables within one year +€19,743
up €19,743 (+1,320%), from €1,496 to €21,239
of which Other amounts receivable: +€21,095
- Reserves +€34,817
up €34,817 (+12.6%), from €275,589 to €310,406
of which Distributable reserves: +€34,817
- Other debts -€15,596
down €15,596 (-37.1%), from €42,088 to €26,492
- Tax, wage and social debts -€8,114
down €8,114 (-94.8%), from €8,562 to €449
of which Remuneration and social security: -€5,204
- Current portion of long-term debt -€7,459
no longer reported in 2025 (was €7,459)
- Trade debts -€4,014
down €4,014 (-11.2%), from €35,966 to €31,953
- Gross operating margin +€16,078
up €16,078 (+18.4%), from €87,217 to €103,295
- Depreciation -€12,677
down €12,677 (-55.7%), from €22,752 to €10,075
- Taxes +€9,603
up €9,603 (+328%), from €2,927 to €12,530
- Staff costs -€7,062
down €7,062 (-13.4%), from €52,751 to €45,688
- Financial income +€1,081
up €1,081 (+194%), from €557 to €1,638
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 | €382,067 | €381,702 | -€365 | -0.1% |
| Fixed assets | 21/28 | €29,464 | €90,368 | +€60,904 | +207% |
| Tangible fixed assets | 22/27 | €29,279 | €90,183 | +€60,904 | +208% |
| Land and buildings | 22 | €1,326 | €928 | -€398 | -30.0% |
| Plant, machinery and equipment | 23 | €21,806 | €15,878 | -€5,928 | -27.2% |
| Furniture and vehicles | 24 | €4,118 | €72,040 | +€67,921 | +1,649% |
| Other tangible fixed assets | 26 | €2,029 | €1,337 | -€692 | -34.1% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €352,603 | €291,334 | -€61,269 | -17.4% |
| Amounts receivable within one year | 40/41 | €1,496 | €21,239 | +€19,743 | +1,320% |
| Trade receivables | 40 | €1,353 | - | -€1,353 | |
| Other amounts receivable | 41 | €144 | €21,239 | +€21,095 | +14,700% |
| Cash at bank and in hand | 54/58 | €346,061 | €267,931 | -€78,130 | -22.6% |
| Deferred charges and accrued income | 490/1 | €5,046 | €2,165 | -€2,881 | -57.1% |
| Total equity and liabilities | 10/49 | €382,067 | €381,702 | -€365 | -0.1% |
| Equity | 10/15 | €287,992 | €322,809 | +€34,817 | +12.1% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €275,589 | €310,406 | +€34,817 | +12.6% |
| Tax-exempt reserves | 132 | €7,179 | €7,179 | = | 0.0% |
| Distributable reserves | 133 | €268,410 | €303,227 | +€34,817 | +13.0% |
| Amounts payable | 17/49 | €94,076 | €58,894 | -€35,182 | -37.4% |
| Amounts payable within one year | 42/48 | €94,076 | €58,894 | -€35,182 | -37.4% |
| Current portion of amounts payable after more than one year | 42 | €7,459 | - | -€7,459 | |
| Trade debts | 44 | €35,966 | €31,953 | -€4,014 | -11.2% |
| Suppliers | 440/4 | €35,966 | €31,953 | -€4,014 | -11.2% |
| Taxes, remuneration and social security | 45 | €8,562 | €449 | -€8,114 | -94.8% |
| Taxes | 450/3 | €3,358 | €449 | -€2,910 | -86.6% |
| Remuneration and social security | 454/9 | €5,204 | - | -€5,204 | |
| Other amounts payable | 47/48 | €42,088 | €26,492 | -€15,596 | -37.1% |
| Non-recurring operating income | 76A | €6,335 | - | -€6,335 | |
| Remuneration, social security and pensions | 62 | €52,751 | €45,688 | -€7,062 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,752 | €10,075 | -€12,677 | -55.7% |
| Other operating charges | 640/8 | €1,021 | €1,419 | +€398 | +39.0% |
| Gross operating margin | 9900 | €87,217 | €103,295 | +€16,078 | +18.4% |
| Operating profit (loss) | 9901 | €10,692 | €46,112 | +€35,420 | +331% |
| Financial income | 75/76B | €557 | €1,638 | +€1,081 | +194% |
| Recurring financial income | 75 | €557 | €1,638 | +€1,081 | +194% |
| Financial charges | 65/66B | €838 | €404 | -€434 | -51.8% |
| Recurring financial charges | 65 | €838 | €404 | -€434 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | €10,412 | €47,347 | +€36,935 | +355% |
| Income taxes | 67/77 | €2,927 | €12,530 | +€9,603 | +328% |
| Profit (loss) for the period | 9904 | €7,485 | €34,817 | +€27,332 | +365% |
| Profit (loss) for the period to be appropriated | 9905 | €7,485 | €34,817 | +€27,332 | +365% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.