Dr. Armin Debbaut: 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. Armin Debbaut
Largest movements
- Cash +€74,773
up €74,773 (+80.3%), from €93,125 to €167,899
mainly Net result for the year (+€88,414) and Tax, wage and social debts (+€15,550)
- Receivables within one year +€19,765
up €19,765 (+32.4%), from €60,966 to €80,732
- Reserves +€88,414
up €88,414 (+90.1%), from €98,134 to €186,548
- Tax, wage and social debts +€15,550
up €15,550 (+61.4%), from €25,310 to €40,861
- Other debts -€7,014
down €7,014 (-25.5%), from €27,473 to €20,459
- Gross operating margin +€27,369
up €27,369 (+32.2%), from €84,968 to €112,338
- Taxes +€6,121
up €6,121 (+35.2%), from €17,370 to €23,491
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 | €154,092 | €248,630 | +€94,539 | +61.4% |
| Current assets | 29/58 | €154,092 | €248,630 | +€94,539 | +61.4% |
| Amounts receivable within one year | 40/41 | €60,966 | €80,732 | +€19,765 | +32.4% |
| Other amounts receivable | 41 | €60,966 | €80,732 | +€19,765 | +32.4% |
| Cash at bank and in hand | 54/58 | €93,125 | €167,899 | +€74,773 | +80.3% |
| Total equity and liabilities | 10/49 | €154,092 | €248,630 | +€94,539 | +61.4% |
| Equity | 10/15 | €98,135 | €186,549 | +€88,414 | +90.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €98,134 | €186,548 | +€88,414 | +90.1% |
| Distributable reserves | 133 | €98,134 | €186,548 | +€88,414 | +90.1% |
| Amounts payable | 17/49 | €55,957 | €62,082 | +€6,125 | +10.9% |
| Amounts payable within one year | 42/48 | €55,957 | €62,082 | +€6,125 | +10.9% |
| Trade debts | 44 | €3,173 | €762 | -€2,411 | -76.0% |
| Suppliers | 440/4 | €3,173 | €762 | -€2,411 | -76.0% |
| Taxes, remuneration and social security | 45 | €25,310 | €40,861 | +€15,550 | +61.4% |
| Taxes | 450/3 | €25,310 | €40,861 | +€15,550 | +61.4% |
| Other amounts payable | 47/48 | €27,473 | €20,459 | -€7,014 | -25.5% |
| Other operating charges | 640/8 | €279 | €286 | +€7 | +2.6% |
| Gross operating margin | 9900 | €84,968 | €112,338 | +€27,369 | +32.2% |
| Operating profit (loss) | 9901 | €84,690 | €112,052 | +€27,362 | +32.3% |
| Financial charges | 65/66B | €101 | €147 | +€46 | +45.5% |
| Recurring financial charges | 65 | €101 | €147 | +€46 | +45.5% |
| Profit (loss) for the period before taxes | 9903 | €84,589 | €111,905 | +€27,316 | +32.3% |
| Income taxes | 67/77 | €17,370 | €23,491 | +€6,121 | +35.2% |
| Profit (loss) for the period | 9904 | €67,219 | €88,414 | +€21,195 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €67,219 | €88,414 | +€21,195 | +31.5% |
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.