DR ANN HAUSTERMANS: 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 ANN HAUSTERMANS
Largest movements
- Current investments +€140,049
up €140,049 (+2.5%), from €5.6m to €5.7m
- Reserves +€193,573
up €193,573 (+3.3%), from €5.8m to €6.0m
of which Distributable reserves: +€193,573
- Gross operating margin +€56,068
up €56,068 (+28.0%), from €199,942 to €256,010
- Taxes +€17,048
up €17,048 (+23.0%), from €74,014 to €91,062
- Financial charges +€15,787
up €15,787 (+117%), from €13,447 to €29,234
- Financial income +€13,243
up €13,243 (+17.6%), from €75,096 to €88,340
- Depreciation +€7,485
up €7,485 (+35.7%), from €20,943 to €28,428
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 | €5,983,969 | €6,087,170 | +€103,200 | +1.7% |
| Fixed assets | 21/28 | €118,050 | €90,630 | -€27,420 | -23.2% |
| Tangible fixed assets | 22/27 | €118,050 | €90,630 | -€27,420 | -23.2% |
| Furniture and vehicles | 24 | €118,050 | €90,630 | -€27,420 | -23.2% |
| Current assets | 29/58 | €5,865,919 | €5,996,540 | +€130,621 | +2.2% |
| Amounts receivable within one year | 40/41 | €62,903 | €34,030 | -€28,873 | -45.9% |
| Trade receivables | 40 | - | €25,000 | +€25,000 | |
| Other amounts receivable | 41 | €62,903 | €9,030 | -€53,873 | -85.6% |
| Current investments | 50/53 | €5,557,561 | €5,697,610 | +€140,049 | +2.5% |
| Cash at bank and in hand | 54/58 | €239,179 | €257,740 | +€18,561 | +7.8% |
| Deferred charges and accrued income | 490/1 | €6,276 | €7,160 | +€884 | +14.1% |
| Total equity and liabilities | 10/49 | €5,983,969 | €6,087,170 | +€103,200 | +1.7% |
| Equity | 10/15 | €5,880,692 | €6,074,266 | +€193,573 | +3.3% |
| Contributions | 10/11 | €88,572 | €88,572 | = | 0.0% |
| Reserves | 13 | €5,792,120 | €5,985,693 | +€193,573 | +3.3% |
| Non-distributable reserves | 130/1 | €8,857 | €8,857 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,857 | €8,857 | = | 0.0% |
| Distributable reserves | 133 | €5,783,263 | €5,976,836 | +€193,573 | +3.3% |
| Amounts payable | 17/49 | €103,277 | €12,904 | -€90,373 | -87.5% |
| Amounts payable within one year | 42/48 | €103,277 | €12,904 | -€90,373 | -87.5% |
| Trade debts | 44 | €15,457 | €12,070 | -€3,387 | -21.9% |
| Suppliers | 440/4 | €15,457 | €12,070 | -€3,387 | -21.9% |
| Taxes, remuneration and social security | 45 | €45,229 | €834 | -€44,395 | -98.2% |
| Taxes | 450/3 | €45,229 | €834 | -€44,395 | -98.2% |
| Other amounts payable | 47/48 | €42,591 | - | -€42,591 | |
| Non-recurring operating income | 76A | €51,500 | - | -€51,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,943 | €28,428 | +€7,485 | +35.7% |
| Other operating charges | 640/8 | €1,951 | €2,052 | +€102 | +5.2% |
| Gross operating margin | 9900 | €199,942 | €256,010 | +€56,068 | +28.0% |
| Operating profit (loss) | 9901 | €177,048 | €225,530 | +€48,482 | +27.4% |
| Financial income | 75/76B | €75,096 | €88,340 | +€13,243 | +17.6% |
| Recurring financial income | 75 | €75,096 | €88,340 | +€13,243 | +17.6% |
| Financial charges | 65/66B | €13,447 | €29,234 | +€15,787 | +117% |
| Recurring financial charges | 65 | €13,447 | €29,234 | +€15,787 | +117% |
| Profit (loss) for the period before taxes | 9903 | €238,697 | €284,636 | +€45,938 | +19.2% |
| Income taxes | 67/77 | €74,014 | €91,062 | +€17,048 | +23.0% |
| Profit (loss) for the period | 9904 | €164,684 | €193,573 | +€28,890 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €164,684 | €193,573 | +€28,890 | +17.5% |
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 24 October 2026 via checked.be.