DANIEL GHEYSEN: what changed
DANIEL GHEYSEN
Largest movements
- Current investments +€40,000
new in 2025: €40,000
- Cash -€39,685
down €39,685 (-40.2%), from €98,812 to €59,128
mainly Current investments (-€40,000) and Other debts (-€33,546)
- Other debts -€33,546
down €33,546 (-78.7%), from €42,652 to €9,106
- Reserves +€30,030
up €30,030 (+17.1%), from €175,649 to €205,679
- Tax, wage and social debts +€3,003
up €3,003 (+113%), from €2,666 to €5,669
- Gross operating margin +€3,438
up €3,438 (+7.0%), from €49,078 to €52,516
- Taxes +€1,135
up €1,135 (+9.0%), from €12,591 to €13,727
- Depreciation -€552
down €552 (-17.6%), from €3,141 to €2,589
- Other operating charges -€540
down €540 (-7.6%), from €7,075 to €6,535
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €239,567 | €239,574 | +€7 | 0.0% |
| Fixed assets | 21/28 | €138,926 | €138,532 | -€393 | -0.3% |
| Tangible fixed assets | 22/27 | €138,791 | €138,397 | -€393 | -0.3% |
| Land and buildings | 22 | €138,791 | €136,589 | -€2,201 | -1.6% |
| Plant, machinery and equipment | 23 | - | €1,808 | +€1,808 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €100,641 | €101,042 | +€401 | +0.4% |
| Amounts receivable within one year | 40/41 | €1,203 | €1,602 | +€399 | +33.2% |
| Other amounts receivable | 41 | €1,203 | €1,602 | +€399 | +33.2% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €98,812 | €59,128 | -€39,685 | -40.2% |
| Deferred charges and accrued income | 490/1 | €626 | €312 | -€314 | -50.2% |
| Total equity and liabilities | 10/49 | €239,567 | €239,574 | +€7 | 0.0% |
| Equity | 10/15 | €194,249 | €224,279 | +€30,030 | +15.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,649 | €205,679 | +€30,030 | +17.1% |
| Distributable reserves | 133 | €175,649 | €205,679 | +€30,030 | +17.1% |
| Amounts payable | 17/49 | €45,318 | €15,295 | -€30,023 | -66.3% |
| Amounts payable within one year | 42/48 | €45,318 | €15,295 | -€30,023 | -66.3% |
| Trade debts | 44 | - | €520 | +€520 | |
| Suppliers | 440/4 | - | €520 | +€520 | |
| Taxes, remuneration and social security | 45 | €2,666 | €5,669 | +€3,003 | +113% |
| Taxes | 450/3 | €2,666 | €5,669 | +€3,003 | +113% |
| Other amounts payable | 47/48 | €42,652 | €9,106 | -€33,546 | -78.7% |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,141 | €2,589 | -€552 | -17.6% |
| Other operating charges | 640/8 | €7,075 | €6,535 | -€540 | -7.6% |
| Gross operating margin | 9900 | €49,078 | €52,516 | +€3,438 | +7.0% |
| Operating profit (loss) | 9901 | €38,862 | €43,393 | +€4,530 | +11.7% |
| Financial income | 75/76B | €429 | €409 | -€20 | -4.7% |
| Recurring financial income | 75 | €429 | €409 | -€20 | -4.7% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €39,248 | €43,757 | +€4,509 | +11.5% |
| Income taxes | 67/77 | €12,591 | €13,727 | +€1,135 | +9.0% |
| Profit (loss) for the period | 9904 | €26,657 | €30,030 | +€3,373 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,657 | €30,030 | +€3,373 | +12.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.