ALEX DREESEN: 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.
ALEX DREESEN
Largest movements
- Tangible fixed assets -€15,091
down €15,091 (-29.9%), from €50,422 to €35,331
of which Furniture and vehicles: -€8,314
- Other debts -€12,892
down €12,892 (-100%), from €12,892 to €0
- Reserves +€12,730
up €12,730 (+16.4%), from €77,469 to €90,199
- Tax, wage and social debts -€10,186
down €10,186 (-35.2%), from €28,898 to €18,712
of which Taxes: -€8,262
- Debts after one year -€3,542
down €3,542 (-100%), from €3,542 to €0
- Current portion of long-term debt -€3,285
down €3,285 (-48.1%), from €6,828 to €3,543
- Turnover +€154,059
new in 2025: €154,059
- Purchases and services +€70,152
new in 2025: €70,152
- Gross operating margin -€16,318
down €16,318 (-15.5%), from €105,299 to €88,981
- Staff costs -€5,415
down €5,415 (-9.2%), from €58,701 to €53,286
- Taxes -€5,022
down €5,022 (-43.3%), from €11,586 to €6,564
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 | €220,879 | €201,971 | -€18,908 | -8.6% |
| Fixed assets | 21/28 | €50,422 | €35,331 | -€15,091 | -29.9% |
| Tangible fixed assets | 22/27 | €50,422 | €35,331 | -€15,091 | -29.9% |
| Land and buildings | 22 | €15,181 | €11,715 | -€3,465 | -22.8% |
| Plant, machinery and equipment | 23 | €7,303 | €3,992 | -€3,312 | -45.3% |
| Furniture and vehicles | 24 | €27,938 | €19,624 | -€8,314 | -29.8% |
| Current assets | 29/58 | €170,457 | €166,640 | -€3,817 | -2.2% |
| Stocks and contracts in progress | 3 | €7,452 | €5,689 | -€1,763 | -23.7% |
| Stocks | 30/36 | €7,452 | €5,689 | -€1,763 | -23.7% |
| Amounts receivable within one year | 40/41 | €16,772 | €14,660 | -€2,112 | -12.6% |
| Trade receivables | 40 | €2,112 | €0 | -€2,112 | -100% |
| Other amounts receivable | 41 | €14,660 | €14,660 | = | 0.0% |
| Current investments | 50/53 | €124 | €124 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €145,350 | €145,189 | -€160 | -0.1% |
| Deferred charges and accrued income | 490/1 | €759 | €978 | +€218 | +28.7% |
| Total equity and liabilities | 10/49 | €220,879 | €201,971 | -€18,908 | -8.6% |
| Equity | 10/15 | €161,769 | €174,499 | +€12,730 | +7.9% |
| Contributions | 10/11 | €84,300 | €84,300 | = | 0.0% |
| Reserves | 13 | €77,469 | €90,199 | +€12,730 | +16.4% |
| Distributable reserves | 133 | €77,469 | €90,199 | +€12,730 | +16.4% |
| Amounts payable | 17/49 | €59,110 | €27,472 | -€31,638 | -53.5% |
| Amounts payable after more than one year | 17 | €3,542 | €0 | -€3,542 | -100% |
| Financial debts | 170/4 | €3,542 | €0 | -€3,542 | -100% |
| Amounts payable within one year | 42/48 | €55,567 | €26,066 | -€29,501 | -53.1% |
| Current portion of amounts payable after more than one year | 42 | €6,828 | €3,543 | -€3,285 | -48.1% |
| Trade debts | 44 | €6,949 | €3,812 | -€3,137 | -45.1% |
| Suppliers | 440/4 | €6,949 | €3,812 | -€3,137 | -45.1% |
| Taxes, remuneration and social security | 45 | €28,898 | €18,712 | -€10,186 | -35.2% |
| Taxes | 450/3 | €18,624 | €10,361 | -€8,262 | -44.4% |
| Remuneration and social security | 454/9 | €10,275 | €8,351 | -€1,924 | -18.7% |
| Other amounts payable | 47/48 | €12,892 | €0 | -€12,892 | -100% |
| Accrued charges and deferred income | 492/3 | - | €1,405 | +€1,405 | |
| Turnover | 70 | - | €154,059 | +€154,059 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €70,152 | +€70,152 | |
| Remuneration, social security and pensions | 62 | €58,701 | €53,286 | -€5,415 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,783 | €15,710 | -€73 | -0.5% |
| Other operating charges | 640/8 | €1,676 | €910 | -€766 | -45.7% |
| Gross operating margin | 9900 | €105,299 | €88,981 | -€16,318 | -15.5% |
| Operating profit (loss) | 9901 | €29,139 | €19,075 | -€10,064 | -34.5% |
| Financial income | 75/76B | €49 | €780 | +€731 | +1,498% |
| Recurring financial income | 75 | €49 | €780 | +€731 | +1,498% |
| Financial charges | 65/66B | €886 | €561 | -€325 | -36.7% |
| Recurring financial charges | 65 | €886 | €561 | -€325 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €28,303 | €19,294 | -€9,008 | -31.8% |
| Income taxes | 67/77 | €11,586 | €6,564 | -€5,022 | -43.3% |
| Profit (loss) for the period | 9904 | €16,716 | €12,730 | -€3,986 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,716 | €12,730 | -€3,986 | -23.8% |
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 13 October 2026 via checked.be.