Dr. A. Eeckhoudt: 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.
Dr. A. Eeckhoudt
Largest movements
- Cash +€112,328
up €112,328 (+119%), from €94,262 to €206,590
mainly Net result for the year (+€85,895) and Deferred charges and accrued income (+€28,015)
- Deferred charges and accrued income -€28,015
down €28,015 (-59.7%), from €46,930 to €18,916
- Tangible fixed assets -€2,399
down €2,399 (-22.8%), from €10,514 to €8,116
of which Plant, machinery and equipment: -€2,895
- Reserves +€84,229
up €84,229 (+78.2%), from €107,681 to €191,911
- Gross operating margin -€23,384
down €23,384 (-16.3%), from €143,410 to €120,026
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 | €152,306 | €234,221 | +€81,915 | +53.8% |
| Fixed assets | 21/28 | €11,114 | €8,716 | -€2,399 | -21.6% |
| Tangible fixed assets | 22/27 | €10,514 | €8,116 | -€2,399 | -22.8% |
| Plant, machinery and equipment | 23 | €9,333 | €6,438 | -€2,895 | -31.0% |
| Furniture and vehicles | 24 | €1,181 | €1,678 | +€497 | +42.1% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €141,192 | €225,505 | +€84,313 | +59.7% |
| Cash at bank and in hand | 54/58 | €94,262 | €206,590 | +€112,328 | +119% |
| Deferred charges and accrued income | 490/1 | €46,930 | €18,916 | -€28,015 | -59.7% |
| Total equity and liabilities | 10/49 | €152,306 | €234,221 | +€81,915 | +53.8% |
| Equity | 10/15 | €111,181 | €195,411 | +€84,229 | +75.8% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €107,681 | €191,911 | +€84,229 | +78.2% |
| Distributable reserves | 133 | €107,681 | €191,911 | +€84,229 | +78.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,125 | €38,811 | -€2,315 | -5.6% |
| Amounts payable within one year | 42/48 | €41,125 | €38,811 | -€2,315 | -5.6% |
| Trade debts | 44 | €1,392 | €1,434 | +€42 | +3.0% |
| Suppliers | 440/4 | €1,392 | €1,434 | +€42 | +3.0% |
| Taxes, remuneration and social security | 45 | €31,425 | €30,654 | -€771 | -2.5% |
| Taxes | 450/3 | €31,425 | €30,654 | -€771 | -2.5% |
| Other amounts payable | 47/48 | €8,309 | €6,723 | -€1,586 | -19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,059 | €3,692 | +€633 | +20.7% |
| Other operating charges | 640/8 | €118 | €368 | +€250 | +211% |
| Gross operating margin | 9900 | €143,410 | €120,026 | -€23,384 | -16.3% |
| Operating profit (loss) | 9901 | €140,233 | €115,967 | -€24,266 | -17.3% |
| Financial income | 75/76B | - | €146 | +€146 | |
| Recurring financial income | 75 | - | €146 | +€146 | |
| Financial charges | 65/66B | €7 | €63 | +€57 | +845% |
| Recurring financial charges | 65 | €7 | €63 | +€57 | +845% |
| Profit (loss) for the period before taxes | 9903 | €140,226 | €116,049 | -€24,177 | -17.2% |
| Income taxes | 67/77 | €30,945 | €30,154 | -€791 | -2.6% |
| Profit (loss) for the period | 9904 | €109,281 | €85,895 | -€23,386 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €109,281 | €85,895 | -€23,386 | -21.4% |
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 22 October 2026 via checked.be.