De Schutter: 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.
De Schutter
Largest movements
- Cash -€378,647
down €378,647 (-93.3%), from €405,727 to €27,080
mainly Current investments (-€119,618) and Receivables after one year (-€100,000)
- Current investments +€119,618
new in 2025: €119,618
- Receivables after one year +€100,000
new in 2025: €100,000
- Tangible fixed assets +€39,187
up €39,187 (+5.9%), from €660,739 to €699,926
of which Furniture and vehicles: +€64,420
- Other debts -€48,928
down €48,928 (-70.8%), from €69,134 to €20,205
- Debts after one year -€38,292
down €38,292 (-8.5%), from €449,304 to €411,012
- Reserves -€29,000
down €29,000 (-5.8%), from €498,860 to €469,860
of which Distributable reserves: -€27,140
- Staff costs -€31,090
no longer reported in 2025 (was €31,090)
- Gross operating margin -€22,283
down €22,283 (-51.1%), from €43,590 to €21,307
- Other operating charges +€4,317
up €4,317 (+230.5%), from €1,873 to €6,190
- Financial charges -€3,689
down €3,689 (-22.0%), from €16,736 to €13,048
- Depreciation -€2,804
down €2,804 (-7.2%), from €38,754 to €35,951
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.
Cash bridge derived
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 | €1,069,876 | €949,012 | -€120,864 | -11.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €660,739 | €699,926 | +€39,187 | +5.9% |
| Tangible fixed assets | 22/27 | €660,739 | €699,926 | +€39,187 | +5.9% |
| Land and buildings | 22 | €615,877 | €590,644 | -€25,233 | -4.1% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €44,862 | €109,282 | +€64,420 | +143.6% |
| Current assets | 29/58 | €409,137 | €249,086 | -€160,051 | -39.1% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €2,014 | €1,149 | -€865 | -43.0% |
| Trade receivables | 40 | €2,014 | - | -€2,014 | |
| Other amounts receivable | 41 | - | €1,149 | +€1,149 | |
| Current investments | 50/53 | - | €119,618 | +€119,618 | |
| Cash at bank and in hand | 54/58 | €405,727 | €27,080 | -€378,647 | -93.3% |
| Deferred charges and accrued income | 490/1 | €1,396 | €1,240 | -€157 | -11.2% |
| Total equity and liabilities | 10/49 | €1,069,876 | €949,012 | -€120,864 | -11.3% |
| Equity | 10/15 | €505,309 | €476,257 | -€29,053 | -5.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €498,860 | €469,860 | -€29,000 | -5.8% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €497,000 | €469,860 | -€27,140 | -5.5% |
| Profit (loss) carried forward | 14 | €249 | €197 | -€53 | -21.1% |
| Amounts payable | 17/49 | €564,567 | €472,756 | -€91,811 | -16.3% |
| Amounts payable after more than one year | 17 | €449,304 | €411,012 | -€38,292 | -8.5% |
| Financial debts | 170/4 | €449,304 | €411,012 | -€38,292 | -8.5% |
| Amounts payable within one year | 42/48 | €113,300 | €58,497 | -€54,803 | -48.4% |
| Current portion of amounts payable after more than one year | 42 | €37,361 | €38,292 | +€931 | +2.5% |
| Financial debts | 43 | €40 | - | -€40 | |
| Credit institutions | 430/8 | €40 | - | -€40 | |
| Trade debts | 44 | €111 | - | -€111 | |
| Suppliers | 440/4 | €111 | - | -€111 | |
| Taxes, remuneration and social security | 45 | €6,655 | - | -€6,655 | |
| Taxes | 450/3 | €6,655 | - | -€6,655 | |
| Other amounts payable | 47/48 | €69,134 | €20,205 | -€48,928 | -70.8% |
| Accrued charges and deferred income | 492/3 | €1,962 | €3,246 | +€1,284 | +65.4% |
| Non-recurring operating income | 76A | - | €3,150 | +€3,150 | |
| Remuneration, social security and pensions | 62 | €31,090 | - | -€31,090 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,754 | €35,951 | -€2,804 | -7.2% |
| Other operating charges | 640/8 | €1,873 | €6,190 | +€4,317 | +230.5% |
| Gross operating margin | 9900 | €43,590 | €21,307 | -€22,283 | -51.1% |
| Operating profit (loss) | 9901 | -€28,127 | -€20,833 | +€7,293 | +25.9% |
| Financial income | 75/76B | €4,713 | €4,997 | +€283 | +6.0% |
| Recurring financial income | 75 | €4,713 | €4,997 | +€283 | +6.0% |
| Financial charges | 65/66B | €16,736 | €13,048 | -€3,689 | -22.0% |
| Recurring financial charges | 65 | €16,736 | €13,048 | -€3,689 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€40,150 | -€28,884 | +€11,265 | +28.1% |
| Income taxes | 67/77 | - | €168 | +€168 | |
| Profit (loss) for the period | 9904 | -€40,150 | -€29,053 | +€11,097 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,150 | -€29,053 | +€11,097 | +27.6% |
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 9 October 2026 via checked.be.