Dr. A. Schuerwegh: what changed
Dr. A. Schuerwegh
Largest movements
- Current investments +€54,000
up €54,000 (+164%), from €32,895 to €86,895
- Cash +€32,112
up €32,112 (+14.1%), from €228,006 to €260,117
mainly Other debts (+€319,799) and Net result for the year (+€161,904)
- Receivables within one year -€10,256
down €10,256 (-50.5%), from €20,321 to €10,065
- Tangible fixed assets +€6,800
up €6,800 (+3.4%), from €200,703 to €207,504
of which Land and buildings: +€5,147
- Other debts +€319,799
up €319,799 (+1,359%), from €23,529 to €343,328
- Profit (loss) carried forward -€238,096
down €238,096 (-45.7%), from €521,429 to €283,333
- Financial income -€21,724
down €21,724 (-97.1%), from €22,370 to €646
- Gross operating margin +€19,866
up €19,866 (+9.7%), from €204,916 to €224,782
- Other operating charges -€6,073
down €6,073 (-86.2%), from €7,048 to €975
- Depreciation +€4,121
up €4,121 (+36.9%), from €11,161 to €15,282
- Taxes +€3,078
up €3,078 (+7.0%), from €44,093 to €47,171
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 | €594,647 | €677,634 | +€82,987 | +14.0% |
| Fixed assets | 21/28 | €200,703 | €207,504 | +€6,800 | +3.4% |
| Tangible fixed assets | 22/27 | €200,703 | €207,504 | +€6,800 | +3.4% |
| Land and buildings | 22 | €188,419 | €193,567 | +€5,147 | +2.7% |
| Furniture and vehicles | 24 | €12,284 | €13,937 | +€1,653 | +13.5% |
| Current assets | 29/58 | €393,944 | €470,131 | +€76,187 | +19.3% |
| Amounts receivable within one year | 40/41 | €20,321 | €10,065 | -€10,256 | -50.5% |
| Other amounts receivable | 41 | €20,321 | €10,065 | -€10,256 | -50.5% |
| Current investments | 50/53 | €32,895 | €86,895 | +€54,000 | +164% |
| Cash at bank and in hand | 54/58 | €228,006 | €260,117 | +€32,112 | +14.1% |
| Deferred charges and accrued income | 490/1 | €112,721 | €113,053 | +€332 | +0.3% |
| Total equity and liabilities | 10/49 | €594,647 | €677,634 | +€82,987 | +14.0% |
| Equity | 10/15 | €541,889 | €303,793 | -€238,096 | -43.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €521,429 | €283,333 | -€238,096 | -45.7% |
| Amounts payable | 17/49 | €52,758 | €373,841 | +€321,083 | +609% |
| Amounts payable within one year | 42/48 | €40,144 | €362,820 | +€322,675 | +804% |
| Trade debts | 44 | €72 | €2,823 | +€2,751 | +3,844% |
| Suppliers | 440/4 | €72 | €2,823 | +€2,751 | +3,844% |
| Taxes, remuneration and social security | 45 | €16,543 | €16,669 | +€126 | +0.8% |
| Taxes | 450/3 | €14,710 | €16,669 | +€1,959 | +13.3% |
| Remuneration and social security | 454/9 | €1,834 | - | -€1,834 | |
| Other amounts payable | 47/48 | €23,529 | €343,328 | +€319,799 | +1,359% |
| Accrued charges and deferred income | 492/3 | €12,614 | €11,021 | -€1,592 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,161 | €15,282 | +€4,121 | +36.9% |
| Other operating charges | 640/8 | €7,048 | €975 | -€6,073 | -86.2% |
| Gross operating margin | 9900 | €204,916 | €224,782 | +€19,866 | +9.7% |
| Operating profit (loss) | 9901 | €186,707 | €208,525 | +€21,818 | +11.7% |
| Financial income | 75/76B | €22,370 | €646 | -€21,724 | -97.1% |
| Recurring financial income | 75 | €22,370 | €646 | -€21,724 | -97.1% |
| Financial charges | 65/66B | €98 | €96 | -€2 | -1.7% |
| Recurring financial charges | 65 | €98 | €96 | -€2 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €208,979 | €209,075 | +€96 | 0.0% |
| Income taxes | 67/77 | €44,093 | €47,171 | +€3,078 | +7.0% |
| Profit (loss) for the period | 9904 | €164,886 | €161,904 | -€2,982 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €164,886 | €161,904 | -€2,982 | -1.8% |
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 4 November 2026 via checked.be.