Bernard De Cannière: 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.
Bernard De Cannière
Largest movements
- Current investments +€261,913
up €261,913 (+32.2%), from €813,806 to €1.1m
- Cash -€220,416
down €220,416 (-38.4%), from €574,748 to €354,332
mainly Current investments (-€261,913) and Contributions, distributions and other (-€250,885)
- Receivables within one year +€31,861
up €31,861 (+841%), from €3,790 to €35,652
of which Trade receivables: +€33,759
- Other debts +€154,511
up €154,511 (+107%), from €144,710 to €299,221
- Reserves -€130,681
down €130,681 (-10.6%), from €1.2m to €1.1m
- Tax, wage and social debts +€50,717
up €50,717 (+215%), from €23,573 to €74,290
of which Taxes: +€49,261
- Gross operating margin -€227,874
down €227,874 (-52.2%), from €436,817 to €208,943
- Taxes -€66,450
down €66,450 (-46.8%), from €142,062 to €75,612
- Financial charges +€54,112
up €54,112, from -€6,236 to €47,876
- Financial income +€28,997
up €28,997 (+260%), from €11,146 to €40,143
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 | €1,426,879 | €1,498,097 | +€71,218 | +5.0% |
| Fixed assets | 21/28 | €32,752 | €29,864 | -€2,889 | -8.8% |
| Tangible fixed assets | 22/27 | €32,697 | €29,809 | -€2,889 | -8.8% |
| Plant, machinery and equipment | 23 | €2,151 | €1,543 | -€609 | -28.3% |
| Furniture and vehicles | 24 | €29,618 | €27,488 | -€2,130 | -7.2% |
| Other tangible fixed assets | 26 | €928 | €778 | -€150 | -16.2% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €1,394,127 | €1,468,233 | +€74,107 | +5.3% |
| Amounts receivable within one year | 40/41 | €3,790 | €35,652 | +€31,861 | +841% |
| Trade receivables | 40 | - | €33,759 | +€33,759 | |
| Other amounts receivable | 41 | €3,790 | €1,893 | -€1,898 | -50.1% |
| Current investments | 50/53 | €813,806 | €1,075,719 | +€261,913 | +32.2% |
| Cash at bank and in hand | 54/58 | €574,748 | €354,332 | -€220,416 | -38.4% |
| Deferred charges and accrued income | 490/1 | €1,782 | €2,531 | +€749 | +42.0% |
| Total equity and liabilities | 10/49 | €1,426,879 | €1,498,097 | +€71,218 | +5.0% |
| Equity | 10/15 | €1,254,454 | €1,123,774 | -€130,681 | -10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,235,854 | €1,105,174 | -€130,681 | -10.6% |
| Distributable reserves | 133 | €1,235,854 | €1,105,174 | -€130,681 | -10.6% |
| Amounts payable | 17/49 | €172,425 | €374,323 | +€201,898 | +117% |
| Amounts payable within one year | 42/48 | €172,425 | €374,323 | +€201,898 | +117% |
| Trade debts | 44 | €4,142 | €812 | -€3,330 | -80.4% |
| Suppliers | 440/4 | €4,142 | €812 | -€3,330 | -80.4% |
| Taxes, remuneration and social security | 45 | €23,573 | €74,290 | +€50,717 | +215% |
| Taxes | 450/3 | €22,844 | €72,105 | +€49,261 | +216% |
| Remuneration and social security | 454/9 | €728 | €2,185 | +€1,457 | +200% |
| Other amounts payable | 47/48 | €144,710 | €299,221 | +€154,511 | +107% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,814 | €2,889 | +€75 | +2.7% |
| Other operating charges | 640/8 | €960 | €2,505 | +€1,545 | +161% |
| Gross operating margin | 9900 | €436,817 | €208,943 | -€227,874 | -52.2% |
| Operating profit (loss) | 9901 | €433,043 | €203,550 | -€229,493 | -53.0% |
| Financial income | 75/76B | €11,146 | €40,143 | +€28,997 | +260% |
| Recurring financial income | 75 | €11,146 | €40,143 | +€28,997 | +260% |
| Financial charges | 65/66B | -€6,236 | €47,876 | +€54,112 | |
| Recurring financial charges | 65 | -€6,236 | €47,876 | +€54,112 | |
| Profit (loss) for the period before taxes | 9903 | €450,424 | €195,817 | -€254,608 | -56.5% |
| Income taxes | 67/77 | €142,062 | €75,612 | -€66,450 | -46.8% |
| Profit (loss) for the period | 9904 | €308,362 | €120,205 | -€188,158 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €308,362 | €120,205 | -€188,158 | -61.0% |
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 28 October 2026 via checked.be.