Docteur Pierre BINDELS: 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.
Docteur Pierre BINDELS
Largest movements
- Cash +€189,946
up €189,946 (+87.0%), from €218,265 to €408,211
mainly Other debts (+€121,664) and Current investments (+€109,787)
- Current investments -€109,787
down €109,787 (-16.8%), from €653,368 to €543,581
- Tangible fixed assets -€28,044
down €28,044 (-5.4%), from €524,174 to €496,130
of which Land and buildings: -€22,739
- Other debts +€121,664
up €121,664 (+17.6%), from €689,577 to €811,241
- Profit (loss) carried forward -€49,420
down €49,420 (-21.5%), from -€229,517 to -€278,936
- Financial charges -€13,797
down €13,797 (-8.5%), from €163,103 to €149,306
- Financial income +€12,108
up €12,108 (+99.0%), from €12,225 to €24,334
- Provisions -€11,652
down €11,652, from €3,759 to -€7,893
- Gross operating margin +€1,923
up €1,923 (+1.7%), from €110,981 to €112,904
- Other operating charges +€1,306
up €1,306 (+38.9%), from €3,358 to €4,665
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 | €1,544,950 | €1,608,934 | +€63,983 | +4.1% |
| Fixed assets | 21/28 | €524,174 | €496,130 | -€28,044 | -5.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €524,174 | €496,130 | -€28,044 | -5.4% |
| Land and buildings | 22 | €435,030 | €412,292 | -€22,739 | -5.2% |
| Plant, machinery and equipment | 23 | €64,536 | €62,995 | -€1,541 | -2.4% |
| Furniture and vehicles | 24 | €20,614 | €16,849 | -€3,765 | -18.3% |
| Other tangible fixed assets | 26 | €3,994 | €3,994 | = | 0.0% |
| Current assets | 29/58 | €1,020,776 | €1,112,804 | +€92,028 | +9.0% |
| Amounts receivable within one year | 40/41 | €147,647 | €159,999 | +€12,352 | +8.4% |
| Trade receivables | 40 | €123,724 | €146,935 | +€23,211 | +18.8% |
| Other amounts receivable | 41 | €23,923 | €13,064 | -€10,859 | -45.4% |
| Current investments | 50/53 | €653,368 | €543,581 | -€109,787 | -16.8% |
| Cash at bank and in hand | 54/58 | €218,265 | €408,211 | +€189,946 | +87.0% |
| Deferred charges and accrued income | 490/1 | €1,496 | €1,013 | -€483 | -32.3% |
| Total equity and liabilities | 10/49 | €1,544,950 | €1,608,934 | +€63,983 | +4.1% |
| Equity | 10/15 | €746,497 | €697,077 | -€49,420 | -6.6% |
| Contributions | 10/11 | €393,697 | €393,697 | = | 0.0% |
| Reserves | 13 | €582,317 | €582,317 | = | 0.0% |
| Tax-exempt reserves | 132 | €227 | €227 | = | 0.0% |
| Distributable reserves | 133 | €582,089 | €582,089 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€229,517 | -€278,936 | -€49,420 | -21.5% |
| Provisions and deferred taxes | 16 | €53,677 | €45,784 | -€7,893 | -14.7% |
| Provisions for liabilities and charges | 160/5 | €53,677 | €45,784 | -€7,893 | -14.7% |
| Other liabilities and charges | 164/5 | €53,677 | €45,784 | -€7,893 | -14.7% |
| Amounts payable | 17/49 | €744,776 | €866,072 | +€121,296 | +16.3% |
| Amounts payable within one year | 42/48 | €694,920 | €815,390 | +€120,470 | +17.3% |
| Trade debts | 44 | €1,524 | €330 | -€1,194 | -78.3% |
| Suppliers | 440/4 | €1,524 | €330 | -€1,194 | -78.3% |
| Taxes, remuneration and social security | 45 | €3,819 | €3,819 | +€0 | 0.0% |
| Taxes | 450/3 | €3,819 | €3,819 | +€0 | 0.0% |
| Other amounts payable | 47/48 | €689,577 | €811,241 | +€121,664 | +17.6% |
| Accrued charges and deferred income | 492/3 | €49,856 | €50,682 | +€826 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,239 | €40,580 | +€341 | +0.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,759 | -€7,893 | -€11,652 | |
| Other operating charges | 640/8 | €3,358 | €4,665 | +€1,306 | +38.9% |
| Gross operating margin | 9900 | €110,981 | €112,904 | +€1,923 | +1.7% |
| Operating profit (loss) | 9901 | €63,625 | €75,553 | +€11,927 | +18.7% |
| Financial income | 75/76B | €12,225 | €24,334 | +€12,108 | +99.0% |
| Recurring financial income | 75 | €12,225 | €24,334 | +€12,108 | +99.0% |
| Financial charges | 65/66B | €163,103 | €149,306 | -€13,797 | -8.5% |
| Recurring financial charges | 65 | €163,103 | €149,306 | -€13,797 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€87,253 | -€49,420 | +€37,833 | +43.4% |
| Income taxes | 67/77 | €580 | €0 | -€580 | -100% |
| Profit (loss) for the period | 9904 | -€87,833 | -€49,420 | +€38,413 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,833 | -€49,420 | +€38,413 | +43.7% |
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.