Dr. ALI Reder: 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. ALI Reder
Largest movements
- Cash +€159,335
up €159,335 (+18.0%), from €884,837 to €1.0m
mainly Net result for the year (+€204,730) and Receivables within one year (+€67,927)
- Receivables within one year -€67,927
down €67,927 (-37.8%), from €179,799 to €111,872
- Tangible fixed assets -€19,113
down €19,113 (-31.6%), from €60,424 to €41,311
of which Furniture and vehicles: -€18,680
- Reserves +€62,368
up €62,368 (+5.9%), from €1.1m to €1.1m
of which Distributable reserves: +€62,368
- Gross operating margin +€28,272
up €28,272 (+9.9%), from €286,429 to €314,701
- Taxes +€8,730
up €8,730 (+10.6%), from €82,434 to €91,165
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 | €1,127,244 | €1,198,818 | +€71,574 | +6.3% |
| Fixed assets | 21/28 | €60,424 | €41,311 | -€19,113 | -31.6% |
| Tangible fixed assets | 22/27 | €60,424 | €41,311 | -€19,113 | -31.6% |
| Plant, machinery and equipment | 23 | €1,482 | €1,050 | -€433 | -29.2% |
| Furniture and vehicles | 24 | €58,942 | €40,262 | -€18,680 | -31.7% |
| Current assets | 29/58 | €1,066,820 | €1,157,506 | +€90,687 | +8.5% |
| Amounts receivable within one year | 40/41 | €179,799 | €111,872 | -€67,927 | -37.8% |
| Other amounts receivable | 41 | €179,799 | €111,872 | -€67,927 | -37.8% |
| Cash at bank and in hand | 54/58 | €884,837 | €1,044,172 | +€159,335 | +18.0% |
| Deferred charges and accrued income | 490/1 | €2,184 | €1,462 | -€722 | -33.0% |
| Total equity and liabilities | 10/49 | €1,127,244 | €1,198,818 | +€71,574 | +6.3% |
| Equity | 10/15 | €1,077,627 | €1,139,995 | +€62,368 | +5.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,065,227 | €1,127,595 | +€62,368 | +5.9% |
| Tax-exempt reserves | 132 | €96 | €96 | = | 0.0% |
| Distributable reserves | 133 | €1,065,131 | €1,127,499 | +€62,368 | +5.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €49,617 | €58,822 | +€9,205 | +18.6% |
| Amounts payable within one year | 42/48 | €49,467 | €58,676 | +€9,209 | +18.6% |
| Trade debts | 44 | €1,000 | €1,000 | = | 0.0% |
| Suppliers | 440/4 | €1,000 | €1,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €48,467 | €57,676 | +€9,209 | +19.0% |
| Taxes | 450/3 | €48,467 | €57,676 | +€9,209 | +19.0% |
| Accrued charges and deferred income | 492/3 | €150 | €146 | -€4 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,245 | €20,222 | -€23 | -0.1% |
| Other operating charges | 640/8 | €1,780 | €1,732 | -€49 | -2.7% |
| Gross operating margin | 9900 | €286,429 | €314,701 | +€28,272 | +9.9% |
| Operating profit (loss) | 9901 | €264,404 | €292,747 | +€28,344 | +10.7% |
| Financial income | 75/76B | €3,744 | €3,345 | -€398 | -10.6% |
| Recurring financial income | 75 | €3,744 | €3,345 | -€398 | -10.6% |
| Financial charges | 65/66B | €231 | €198 | -€33 | -14.3% |
| Recurring financial charges | 65 | €231 | €198 | -€33 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €267,916 | €295,894 | +€27,978 | +10.4% |
| Income taxes | 67/77 | €82,434 | €91,165 | +€8,730 | +10.6% |
| Profit (loss) for the period | 9904 | €185,482 | €204,730 | +€19,248 | +10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €185,482 | €204,730 | +€19,248 | +10.4% |
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 15 October 2026 via checked.be.