BOB DELBAERE: 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.
BOB DELBAERE
Largest movements
- Cash -€89,615
down €89,615 (-9.0%), from €991,482 to €901,867
mainly Contributions, distributions and other (-€252,200) and Investment in fixed assets (net) (-€1,144)
- Reserves -€99,970
down €99,970 (-10.7%), from €931,376 to €831,406
of which Distributable reserves: -€99,970
- Gross operating margin -€19,409
down €19,409 (-7.3%), from €267,450 to €248,041
- Financial income -€11,231
down €11,231 (-40.3%), from €27,855 to €16,624
- Taxes -€8,104
down €8,104 (-11.0%), from €73,534 to €65,430
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 | €1,022,440 | €926,566 | -€95,873 | -9.4% |
| Fixed assets | 21/28 | €2,388 | €3,200 | +€813 | +34.0% |
| Tangible fixed assets | 22/27 | €63 | €875 | +€813 | +1,299% |
| Furniture and vehicles | 24 | €63 | €875 | +€813 | +1,299% |
| Financial fixed assets | 28 | €2,325 | €2,325 | = | 0.0% |
| Current assets | 29/58 | €1,020,052 | €923,366 | -€96,686 | -9.5% |
| Amounts receivable within one year | 40/41 | €23,855 | €21,499 | -€2,357 | -9.9% |
| Trade receivables | 40 | €19,530 | €17,174 | -€2,357 | -12.1% |
| Other amounts receivable | 41 | €4,325 | €4,325 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €991,482 | €901,867 | -€89,615 | -9.0% |
| Deferred charges and accrued income | 490/1 | €4,715 | - | -€4,715 | |
| Total equity and liabilities | 10/49 | €1,022,440 | €926,566 | -€95,873 | -9.4% |
| Equity | 10/15 | €950,129 | €850,163 | -€99,966 | -10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €931,376 | €831,406 | -€99,970 | -10.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €929,516 | €829,546 | -€99,970 | -10.8% |
| Profit (loss) carried forward | 14 | €152 | €157 | +€4 | +2.7% |
| Amounts payable | 17/49 | €72,311 | €76,403 | +€4,092 | +5.7% |
| Amounts payable within one year | 42/48 | €72,311 | €74,318 | +€2,007 | +2.8% |
| Trade debts | 44 | €360 | €595 | +€234 | +65.1% |
| Suppliers | 440/4 | €360 | €595 | +€234 | +65.1% |
| Taxes, remuneration and social security | 45 | €45,961 | €47,217 | +€1,256 | +2.7% |
| Taxes | 450/3 | €39,358 | €36,570 | -€2,788 | -7.1% |
| Remuneration and social security | 454/9 | €6,603 | €10,647 | +€4,044 | +61.2% |
| Other amounts payable | 47/48 | €25,990 | €26,507 | +€517 | +2.0% |
| Accrued charges and deferred income | 492/3 | - | €2,085 | +€2,085 | |
| Remuneration, social security and pensions | 62 | €43,846 | €42,963 | -€883 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237 | €331 | +€94 | +39.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €2,600 | €203 | -€2,396 | -92.2% |
| Other operating charges | 640/8 | €4,260 | €3,286 | -€974 | -22.9% |
| Gross operating margin | 9900 | €267,450 | €248,041 | -€19,409 | -7.3% |
| Operating profit (loss) | 9901 | €216,507 | €201,257 | -€15,249 | -7.0% |
| Financial income | 75/76B | €27,855 | €16,624 | -€11,231 | -40.3% |
| Recurring financial income | 75 | €27,855 | €16,624 | -€11,231 | -40.3% |
| Financial charges | 65/66B | €1,744 | €217 | -€1,527 | -87.5% |
| Recurring financial charges | 65 | €1,744 | €217 | -€1,527 | -87.5% |
| Profit (loss) for the period before taxes | 9903 | €242,618 | €217,664 | -€24,954 | -10.3% |
| Income taxes | 67/77 | €73,534 | €65,430 | -€8,104 | -11.0% |
| Profit (loss) for the period | 9904 | €169,084 | €152,234 | -€16,850 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €169,084 | €152,234 | -€16,850 | -10.0% |
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 21 October 2026 via checked.be.