PATRICK LIMPENS: what changed
Two fiscal 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.
PATRICK LIMPENS
Largest movements
- Current investments +€25,000
up €25,000 (+10.0%), from €250,000 to €275,000
- Receivables within one year -€9,256
down €9,256 (-92.0%), from €10,063 to €807
of which Trade receivables: -€8,785
- Tangible fixed assets -€8,420
down €8,420 (-24.5%), from €34,384 to €25,964
- Cash +€7,408
up €7,408 (+8.9%), from €82,786 to €90,194
mainly Net result for the year (+€14,687) and Receivables within one year (+€9,256)
- Reserves +€14,187
up €14,187 (+4.9%), from €291,551 to €305,738
of which Distributable reserves: +€14,187
- Gross operating margin +€5,031
up €5,031 (+25.8%), from €19,493 to €24,524
- Financial income -€2,296
down €2,296 (-31.1%), from €7,394 to €5,098
- Taxes +€735
up €735 (+15.0%), from €4,910 to €5,645
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.
Cash bridge derived
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 | €378,322 | €393,212 | +€14,890 | +3.9% |
| Fixed assets | 21/28 | €34,451 | €26,031 | -€8,420 | -24.4% |
| Tangible fixed assets | 22/27 | €34,384 | €25,964 | -€8,420 | -24.5% |
| Furniture and vehicles | 24 | €34,384 | €25,964 | -€8,420 | -24.5% |
| Financial fixed assets | 28 | €67 | €67 | = | 0.0% |
| Current assets | 29/58 | €343,871 | €367,181 | +€23,310 | +6.8% |
| Amounts receivable within one year | 40/41 | €10,063 | €807 | -€9,256 | -92.0% |
| Trade receivables | 40 | €8,785 | - | -€8,785 | |
| Other amounts receivable | 41 | €1,278 | €807 | -€471 | -36.9% |
| Current investments | 50/53 | €250,000 | €275,000 | +€25,000 | +10.0% |
| Cash at bank and in hand | 54/58 | €82,786 | €90,194 | +€7,408 | +8.9% |
| Deferred charges and accrued income | 490/1 | €1,022 | €1,180 | +€158 | +15.5% |
| Total equity and liabilities | 10/49 | €378,322 | €393,212 | +€14,890 | +3.9% |
| Equity | 10/15 | €373,785 | €388,472 | +€14,687 | +3.9% |
| Contributions | 10/11 | €11,000 | €11,000 | = | 0.0% |
| Reserves | 13 | €291,551 | €305,738 | +€14,187 | +4.9% |
| Non-distributable reserves | 130/1 | €10,555 | €10,555 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,555 | €10,555 | = | 0.0% |
| Distributable reserves | 133 | €280,996 | €295,183 | +€14,187 | +5.0% |
| Profit (loss) carried forward | 14 | €71,234 | €71,734 | +€500 | +0.7% |
| Amounts payable | 17/49 | €4,537 | €4,740 | +€203 | +4.5% |
| Amounts payable within one year | 42/48 | €4,537 | €4,740 | +€203 | +4.5% |
| Trade debts | 44 | €188 | €188 | = | 0.0% |
| Suppliers | 440/4 | €188 | €188 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,349 | €4,552 | +€203 | +4.7% |
| Taxes | 450/3 | €4,349 | €4,552 | +€203 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,421 | €8,420 | -€1 | 0.0% |
| Other operating charges | 640/8 | €837 | €787 | -€50 | -6.0% |
| Gross operating margin | 9900 | €19,493 | €24,524 | +€5,031 | +25.8% |
| Operating profit (loss) | 9901 | €10,235 | €15,317 | +€5,082 | +49.7% |
| Financial income | 75/76B | €7,394 | €5,098 | -€2,296 | -31.1% |
| Recurring financial income | 75 | €7,394 | €5,098 | -€2,296 | -31.1% |
| Financial charges | 65/66B | €76 | €83 | +€7 | +9.2% |
| Recurring financial charges | 65 | €76 | €83 | +€7 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €17,553 | €20,332 | +€2,779 | +15.8% |
| Income taxes | 67/77 | €4,910 | €5,645 | +€735 | +15.0% |
| Profit (loss) for the period | 9904 | €12,643 | €14,687 | +€2,044 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,643 | €14,687 | +€2,044 | +16.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.