DR ALAIN SIBILLE: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
DR ALAIN SIBILLE
Largest movements
- Cash -€132,104
down €132,104 (-35.3%), from €374,339 to €242,235
mainly Contributions, distributions and other (-€330,200) and Current investments (-€61,494)
- Current investments +€61,494
up €61,494 (+12.0%), from €511,510 to €573,004
- Deferred charges and accrued income +€14,569
up €14,569 (+9.0%), from €161,547 to €176,115
- Reserves -€53,800
down €53,800 (-4.5%), from €1.2m to €1.1m
of which Distributable reserves: -€53,800
- Current portion of long-term debt -€25,348
down €25,348 (-66.3%), from €38,242 to €12,893
- Tax, wage and social debts +€14,813
up €14,813 (+91.9%), from €16,111 to €30,924
- Gross operating margin +€75,867
up €75,867 (+22.5%), from €336,702 to €412,569
- Taxes +€24,415
up €24,415 (+24.4%), from €100,168 to €124,583
- Financial income +€4,139
up €4,139 (+298%), from €1,389 to €5,528
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 | €1,354,618 | €1,288,803 | -€65,815 | -4.9% |
| Fixed assets | 21/28 | €307,222 | €294,158 | -€13,064 | -4.3% |
| Tangible fixed assets | 22/27 | €307,222 | €294,158 | -€13,064 | -4.3% |
| Land and buildings | 22 | €299,602 | €289,901 | -€9,701 | -3.2% |
| Plant, machinery and equipment | 23 | €171 | - | -€171 | |
| Furniture and vehicles | 24 | €5,363 | €2,954 | -€2,409 | -44.9% |
| Other tangible fixed assets | 26 | €2,086 | €1,303 | -€783 | -37.5% |
| Current assets | 29/58 | €1,047,396 | €994,645 | -€52,752 | -5.0% |
| Amounts receivable within one year | 40/41 | - | €3,290 | +€3,290 | |
| Trade receivables | 40 | - | €3,290 | +€3,290 | |
| Current investments | 50/53 | €511,510 | €573,004 | +€61,494 | +12.0% |
| Cash at bank and in hand | 54/58 | €374,339 | €242,235 | -€132,104 | -35.3% |
| Deferred charges and accrued income | 490/1 | €161,547 | €176,115 | +€14,569 | +9.0% |
| Total equity and liabilities | 10/49 | €1,354,618 | €1,288,803 | -€65,815 | -4.9% |
| Equity | 10/15 | €1,213,366 | €1,159,614 | -€53,751 | -4.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,188,309 | €1,134,509 | -€53,800 | -4.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,186,450 | €1,132,650 | -€53,800 | -4.5% |
| Profit (loss) carried forward | 14 | €18,859 | €18,908 | +€49 | +0.3% |
| Amounts payable | 17/49 | €141,253 | €129,189 | -€12,064 | -8.5% |
| Amounts payable after more than one year | 17 | €12,893 | - | -€12,893 | |
| Financial debts | 170/4 | €12,893 | - | -€12,893 | |
| Amounts payable within one year | 42/48 | €128,359 | €129,189 | +€830 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €38,242 | €12,893 | -€25,348 | -66.3% |
| Trade debts | 44 | €876 | €375 | -€501 | -57.2% |
| Suppliers | 440/4 | €876 | €375 | -€501 | -57.2% |
| Taxes, remuneration and social security | 45 | €16,111 | €30,924 | +€14,813 | +91.9% |
| Taxes | 450/3 | €16,111 | €30,924 | +€14,813 | +91.9% |
| Other amounts payable | 47/48 | €73,130 | €84,996 | +€11,866 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,236 | €13,064 | -€172 | -1.3% |
| Other operating charges | 640/8 | €1,956 | €1,946 | -€10 | -0.5% |
| Gross operating margin | 9900 | €336,702 | €412,569 | +€75,867 | +22.5% |
| Operating profit (loss) | 9901 | €321,511 | €397,560 | +€76,049 | +23.7% |
| Financial income | 75/76B | €1,389 | €5,528 | +€4,139 | +298% |
| Recurring financial income | 75 | €1,389 | €5,528 | +€4,139 | +298% |
| Financial charges | 65/66B | €3,793 | €2,057 | -€1,737 | -45.8% |
| Recurring financial charges | 65 | €3,793 | €2,057 | -€1,737 | -45.8% |
| Profit (loss) for the period before taxes | 9903 | €319,106 | €401,031 | +€81,925 | +25.7% |
| Income taxes | 67/77 | €100,168 | €124,583 | +€24,415 | +24.4% |
| Profit (loss) for the period | 9904 | €218,939 | €276,449 | +€57,510 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €218,939 | €276,449 | +€57,510 | +26.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.