DR. AN DECLERCQ: what changed
Two fiscal 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. AN DECLERCQ
Largest movements
- Cash -€18,401
down €18,401 (-55.3%), from €33,252 to €14,851
mainly Contributions, distributions and other (-€36,500) and Deferred charges and accrued income (-€10,709)
- Deferred charges and accrued income +€10,709
up €10,709 (+16.5%), from €64,912 to €75,621
- Current investments +€6,151
up €6,151 (+29.7%), from €20,678 to €26,829
- Profit (loss) carried forward -€3,583
down €3,583 (-6.2%), from €57,859 to €54,277
- Accrued charges and deferred income -€2,229
down €2,229 (-49.2%), from €4,529 to €2,300
- Other debts +€1,914
up €1,914 (+5.4%), from €35,336 to €37,250
- Tax, wage and social debts +€1,760
up €1,760 (+28.2%), from €6,240 to €8,000
- Gross operating margin +€9,813
up €9,813 (+26.2%), from €37,423 to €47,236
- Taxes +€2,688
up €2,688 (+36.8%), from €7,306 to €9,994
- Financial charges -€764
down €764 (-24.3%), from €3,147 to €2,384
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.
Cash bridge derived
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 | €123,086 | €121,399 | -€1,688 | -1.4% |
| Fixed assets | 21/28 | €3,528 | €3,560 | +€33 | +0.9% |
| Tangible fixed assets | 22/27 | €3,528 | €3,560 | +€33 | +0.9% |
| Plant, machinery and equipment | 23 | €3,528 | €2,863 | -€665 | -18.8% |
| Furniture and vehicles | 24 | €0 | €697 | +€697 | |
| Current assets | 29/58 | €119,559 | €117,839 | -€1,720 | -1.4% |
| Amounts receivable within one year | 40/41 | €716 | €537 | -€179 | -25.0% |
| Other amounts receivable | 41 | €716 | €537 | -€179 | -25.0% |
| Current investments | 50/53 | €20,678 | €26,829 | +€6,151 | +29.7% |
| Cash at bank and in hand | 54/58 | €33,252 | €14,851 | -€18,401 | -55.3% |
| Deferred charges and accrued income | 490/1 | €64,912 | €75,621 | +€10,709 | +16.5% |
| Total equity and liabilities | 10/49 | €123,086 | €121,399 | -€1,688 | -1.4% |
| Equity | 10/15 | €76,459 | €72,877 | -€3,583 | -4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,859 | €54,277 | -€3,583 | -6.2% |
| Amounts payable | 17/49 | €46,627 | €48,522 | +€1,895 | +4.1% |
| Amounts payable within one year | 42/48 | €42,098 | €46,222 | +€4,124 | +9.8% |
| Trade debts | 44 | €522 | €972 | +€450 | +86.2% |
| Suppliers | 440/4 | €522 | €972 | +€450 | +86.2% |
| Taxes, remuneration and social security | 45 | €6,240 | €8,000 | +€1,760 | +28.2% |
| Taxes | 450/3 | €6,240 | €8,000 | +€1,760 | +28.2% |
| Other amounts payable | 47/48 | €35,336 | €37,250 | +€1,914 | +5.4% |
| Accrued charges and deferred income | 492/3 | €4,529 | €2,300 | -€2,229 | -49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €803 | €982 | +€180 | +22.4% |
| Other operating charges | 640/8 | €925 | €1,175 | +€250 | +27.0% |
| Gross operating margin | 9900 | €37,423 | €47,236 | +€9,813 | +26.2% |
| Operating profit (loss) | 9901 | €35,695 | €45,079 | +€9,384 | +26.3% |
| Financial income | 75/76B | €72 | €216 | +€143 | +198.3% |
| Recurring financial income | 75 | €72 | €216 | +€143 | +198.3% |
| Financial charges | 65/66B | €3,147 | €2,384 | -€764 | -24.3% |
| Recurring financial charges | 65 | €3,147 | €2,384 | -€764 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €32,620 | €42,911 | +€10,291 | +31.5% |
| Income taxes | 67/77 | €7,306 | €9,994 | +€2,688 | +36.8% |
| Profit (loss) for the period | 9904 | €25,314 | €32,917 | +€7,603 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,314 | €32,917 | +€7,603 | +30.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.