Ann Pattyn: 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.
Ann Pattyn
Largest movements
- Cash -€480,088
down €480,088 (-55.1%), from €871,127 to €391,039
mainly Current investments (-€418,816) and Investment in fixed assets (net) (-€67,434)
- Current investments +€418,816
up €418,816 (+18.7%), from €2.2m to €2.7m
- Tangible fixed assets +€42,329
up €42,329 (+15.6%), from €272,165 to €314,493
of which Land and buildings: +€51,391
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€1.4m
down €1.4m (-99.5%), from €1.4m to €6,837
- Taxes -€385,604
down €385,604 (-98.5%), from €391,673 to €6,069
- Staff costs -€218,654
down €218,654, from €215,843 to -€2,811
- Financial charges -€16,174
down €16,174 (-71.2%), from €22,712 to €6,538
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 | €3,426,111 | €3,405,129 | -€20,982 | -0.6% |
| Fixed assets | 21/28 | €272,229 | €314,558 | +€42,329 | +15.5% |
| Tangible fixed assets | 22/27 | €272,165 | €314,493 | +€42,329 | +15.6% |
| Land and buildings | 22 | €226,385 | €277,776 | +€51,391 | +22.7% |
| Plant, machinery and equipment | 23 | €38,093 | €31,657 | -€6,435 | -16.9% |
| Furniture and vehicles | 24 | €7,687 | €5,060 | -€2,627 | -34.2% |
| Financial fixed assets | 28 | €64 | €64 | = | 0.0% |
| Current assets | 29/58 | €3,153,882 | €3,090,571 | -€63,311 | -2.0% |
| Amounts receivable within one year | 40/41 | €39,277 | €37,709 | -€1,568 | -4.0% |
| Other amounts receivable | 41 | €39,277 | €37,709 | -€1,568 | -4.0% |
| Current investments | 50/53 | €2,241,450 | €2,660,266 | +€418,816 | +18.7% |
| Cash at bank and in hand | 54/58 | €871,127 | €391,039 | -€480,088 | -55.1% |
| Deferred charges and accrued income | 490/1 | €2,028 | €1,557 | -€471 | -23.2% |
| Total equity and liabilities | 10/49 | €3,426,111 | €3,405,129 | -€20,982 | -0.6% |
| Equity | 10/15 | €3,322,114 | €3,307,224 | -€14,890 | -0.4% |
| Contributions | 10/11 | €117,000 | €117,000 | = | 0.0% |
| Reserves | 13 | €3,205,114 | €3,202,303 | -€2,811 | -0.1% |
| Tax-exempt reserves | 132 | €37,334 | €34,522 | -€2,811 | -7.5% |
| Distributable reserves | 133 | €3,167,781 | €3,167,781 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€12,079 | -€12,079 | |
| Provisions and deferred taxes | 16 | €12,170 | €11,234 | -€936 | -7.7% |
| Deferred taxes | 168 | €12,170 | €11,234 | -€936 | -7.7% |
| Amounts payable | 17/49 | €91,828 | €86,671 | -€5,156 | -5.6% |
| Amounts payable within one year | 42/48 | €91,828 | €86,671 | -€5,156 | -5.6% |
| Trade debts | 44 | €6,225 | €1,140 | -€5,085 | -81.7% |
| Suppliers | 440/4 | €6,225 | €1,140 | -€5,085 | -81.7% |
| Taxes, remuneration and social security | 45 | €85,602 | €85,532 | -€71 | -0.1% |
| Taxes | 450/3 | €84,416 | €82,854 | -€1,563 | -1.9% |
| Remuneration and social security | 454/9 | €1,186 | €2,678 | +€1,492 | +126% |
| Remuneration, social security and pensions | 62 | €215,843 | -€2,811 | -€218,654 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,520 | €25,106 | +€586 | +2.4% |
| Other operating charges | 640/8 | €5,444 | €5,972 | +€528 | +9.7% |
| Gross operating margin | 9900 | €1,448,475 | €6,837 | -€1.4m | -99.5% |
| Operating profit (loss) | 9901 | €1,202,667 | -€21,431 | -€1.2m | |
| Financial income | 75/76B | €25,763 | €18,212 | -€7,551 | -29.3% |
| Recurring financial income | 75 | €25,763 | €18,212 | -€7,551 | -29.3% |
| Financial charges | 65/66B | €22,712 | €6,538 | -€16,174 | -71.2% |
| Recurring financial charges | 65 | €22,712 | €6,538 | -€16,174 | -71.2% |
| Profit (loss) for the period before taxes | 9903 | €1,205,718 | -€9,757 | -€1.2m | |
| Transfer from deferred taxes | 780 | €936 | €936 | = | 0.0% |
| Income taxes | 67/77 | €391,673 | €6,069 | -€385,604 | -98.5% |
| Profit (loss) for the period | 9904 | €814,980 | -€14,890 | -€829,870 | |
| Transfer from tax-exempt reserves | 789 | €2,811 | €2,811 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €817,792 | -€12,079 | -€829,870 |
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.