Dr. An Vos: 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 Vos
Largest movements
- Cash -€76,479
down €76,479 (-31.1%), from €246,218 to €169,738
mainly Contributions, distributions and other (-€128,068) and Other debts (-€19,342)
- Receivables within one year -€10,504
down €10,504 (-52.8%), from €19,889 to €9,384
of which Other amounts receivable: -€9,131
- Deferred charges and accrued income -€3,542
down €3,542 (-31.9%), from €11,086 to €7,544
- Reserves -€75,412
down €75,412 (-36.3%), from €207,510 to €132,098
- Other debts -€19,342
down €19,342 (-42.1%), from €45,914 to €26,573
- Tax, wage and social debts +€5,664
up €5,664 (+61.4%), from €9,219 to €14,884
- Gross operating margin +€15,198
up €15,198 (+25.9%), from €58,623 to €73,821
- Taxes +€4,451
up €4,451 (+27.8%), from €16,001 to €20,453
- Financial income +€972
up €972 (+87.2%), from €1,114 to €2,086
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 | €282,945 | €191,287 | -€91,658 | -32.4% |
| Fixed assets | 21/28 | €5,753 | €4,620 | -€1,133 | -19.7% |
| Tangible fixed assets | 22/27 | €4,753 | €3,620 | -€1,133 | -23.8% |
| Furniture and vehicles | 24 | €4,753 | €3,620 | -€1,133 | -23.8% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €277,192 | €186,667 | -€90,525 | -32.7% |
| Amounts receivable within one year | 40/41 | €19,889 | €9,384 | -€10,504 | -52.8% |
| Trade receivables | 40 | €1,419 | €47 | -€1,373 | -96.7% |
| Other amounts receivable | 41 | €18,469 | €9,338 | -€9,131 | -49.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €246,218 | €169,738 | -€76,479 | -31.1% |
| Deferred charges and accrued income | 490/1 | €11,086 | €7,544 | -€3,542 | -31.9% |
| Total equity and liabilities | 10/49 | €282,945 | €191,287 | -€91,658 | -32.4% |
| Equity | 10/15 | €219,910 | €144,498 | -€75,412 | -34.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €207,510 | €132,098 | -€75,412 | -36.3% |
| Distributable reserves | 133 | €207,510 | €132,098 | -€75,412 | -36.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €63,035 | €46,789 | -€16,246 | -25.8% |
| Amounts payable within one year | 42/48 | €61,024 | €46,334 | -€14,689 | -24.1% |
| Trade debts | 44 | €5,890 | €4,878 | -€1,012 | -17.2% |
| Suppliers | 440/4 | €5,890 | €4,878 | -€1,012 | -17.2% |
| Taxes, remuneration and social security | 45 | €9,219 | €14,884 | +€5,664 | +61.4% |
| Taxes | 450/3 | €9,219 | €14,884 | +€5,664 | +61.4% |
| Other amounts payable | 47/48 | €45,914 | €26,573 | -€19,342 | -42.1% |
| Accrued charges and deferred income | 492/3 | €2,011 | €455 | -€1,556 | -77.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,133 | €1,133 | = | 0.0% |
| Other operating charges | 640/8 | €687 | €769 | +€82 | +11.9% |
| Gross operating margin | 9900 | €58,623 | €73,821 | +€15,198 | +25.9% |
| Operating profit (loss) | 9901 | €56,803 | €71,920 | +€15,117 | +26.6% |
| Financial income | 75/76B | €1,114 | €2,086 | +€972 | +87.2% |
| Recurring financial income | 75 | €1,114 | €2,086 | +€972 | +87.2% |
| Financial charges | 65/66B | €883 | €897 | +€14 | +1.6% |
| Recurring financial charges | 65 | €883 | €897 | +€14 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €57,034 | €73,108 | +€16,074 | +28.2% |
| Income taxes | 67/77 | €16,001 | €20,453 | +€4,451 | +27.8% |
| Profit (loss) for the period | 9904 | €41,033 | €52,656 | +€11,623 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,033 | €52,656 | +€11,623 | +28.3% |
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 18 October 2026 via checked.be.