DR. AN DRIESEN: 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. AN DRIESEN
Largest movements
- Receivables within one year +€183,767
up €183,767 (+372%), from €49,366 to €233,133
- Deferred charges and accrued income -€85,112
down €85,112 (-99.4%), from €85,620 to €508
- Cash -€27,946
down €27,946 (-86.2%), from €32,404 to €4,459
mainly Receivables within one year (-€183,767) and Contributions, distributions and other (-€116,435)
- Tangible fixed assets -€8,851
down €8,851 (-30.0%), from €29,551 to €20,700
- Other debts +€53,551
up €53,551 (+85.2%), from €62,884 to €116,435
- Debts after one year -€12,800
down €12,800 (-74.2%), from €17,248 to €4,448
- Short-term financial debts +€10,646
new in 2025: €10,646
- Reserves +€5,260
up €5,260 (+6.0%), from €87,573 to €92,832
- Tax, wage and social debts +€4,629
up €4,629 (+40.1%), from €11,546 to €16,175
- Gross operating margin -€4,333
down €4,333 (-2.5%), from €173,253 to €168,919
- Financial income +€4,209
up €4,209 (+318%), from €1,322 to €5,531
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 | €196,941 | €258,800 | +€61,859 | +31.4% |
| Fixed assets | 21/28 | €29,551 | €20,700 | -€8,851 | -30.0% |
| Tangible fixed assets | 22/27 | €29,551 | €20,700 | -€8,851 | -30.0% |
| Furniture and vehicles | 24 | €29,551 | €20,700 | -€8,851 | -30.0% |
| Current assets | 29/58 | €167,390 | €238,100 | +€70,710 | +42.2% |
| Amounts receivable within one year | 40/41 | €49,366 | €233,133 | +€183,767 | +372% |
| Other amounts receivable | 41 | €49,366 | €233,133 | +€183,767 | +372% |
| Cash at bank and in hand | 54/58 | €32,404 | €4,459 | -€27,946 | -86.2% |
| Deferred charges and accrued income | 490/1 | €85,620 | €508 | -€85,112 | -99.4% |
| Total equity and liabilities | 10/49 | €196,941 | €258,800 | +€61,859 | +31.4% |
| Equity | 10/15 | €92,573 | €97,832 | +€5,260 | +5.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €87,573 | €92,832 | +€5,260 | +6.0% |
| Distributable reserves | 133 | €87,573 | €92,832 | +€5,260 | +6.0% |
| Amounts payable | 17/49 | €104,368 | €160,967 | +€56,599 | +54.2% |
| Amounts payable after more than one year | 17 | €17,248 | €4,448 | -€12,800 | -74.2% |
| Financial debts | 170/4 | €17,248 | €4,448 | -€12,800 | -74.2% |
| Amounts payable within one year | 42/48 | €87,120 | €156,519 | +€69,399 | +79.7% |
| Current portion of amounts payable after more than one year | 42 | €12,689 | €12,800 | +€111 | +0.9% |
| Financial debts | 43 | - | €10,646 | +€10,646 | |
| Credit institutions | 430/8 | - | €10,646 | +€10,646 | |
| Trade debts | 44 | - | €462 | +€462 | |
| Suppliers | 440/4 | - | €462 | +€462 | |
| Taxes, remuneration and social security | 45 | €11,546 | €16,175 | +€4,629 | +40.1% |
| Taxes | 450/3 | €11,546 | €16,175 | +€4,629 | +40.1% |
| Other amounts payable | 47/48 | €62,884 | €116,435 | +€53,551 | +85.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,457 | €14,251 | -€206 | -1.4% |
| Other operating charges | 640/8 | €508 | €627 | +€120 | +23.5% |
| Gross operating margin | 9900 | €173,253 | €168,919 | -€4,333 | -2.5% |
| Operating profit (loss) | 9901 | €158,288 | €154,041 | -€4,247 | -2.7% |
| Financial income | 75/76B | €1,322 | €5,531 | +€4,209 | +318% |
| Recurring financial income | 75 | €1,322 | €5,531 | +€4,209 | +318% |
| Financial charges | 65/66B | €356 | €248 | -€108 | -30.3% |
| Recurring financial charges | 65 | €356 | €248 | -€108 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €159,254 | €159,324 | +€70 | 0.0% |
| Income taxes | 67/77 | €37,546 | €37,629 | +€82 | +0.2% |
| Profit (loss) for the period | 9904 | €121,708 | €121,695 | -€13 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €121,708 | €121,695 | -€13 | 0.0% |
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 29 October 2026 via checked.be.