Dr. Arn Van Royen: 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. Arn Van Royen
Largest movements
- Cash +€265,137
up €265,137 (+84.1%), from €315,333 to €580,470
mainly Other debts (+€567,408) and Net result for the year (+€359,724)
- Tangible fixed assets -€10,700
down €10,700 (-29.0%), from €36,937 to €26,237
- Deferred charges and accrued income +€9,495
up €9,495 (+1,918%), from €495 to €9,990
- Other debts +€567,408
up €567,408 (+4,111%), from €13,803 to €581,211
- Reserves -€309,870
down €309,870 (-89.9%), from €344,595 to €34,724
- Gross operating margin +€25,365
up €25,365 (+5.5%), from €459,662 to €485,027
- Taxes +€6,646
up €6,646 (+6.2%), from €106,938 to €113,585
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 | €361,340 | €621,646 | +€260,306 | +72.0% |
| Fixed assets | 21/28 | €36,937 | €26,237 | -€10,700 | -29.0% |
| Tangible fixed assets | 22/27 | €36,937 | €26,237 | -€10,700 | -29.0% |
| Furniture and vehicles | 24 | €36,937 | €26,237 | -€10,700 | -29.0% |
| Current assets | 29/58 | €324,403 | €595,409 | +€271,006 | +83.5% |
| Amounts receivable within one year | 40/41 | €3,729 | €102 | -€3,627 | -97.3% |
| Trade receivables | 40 | €1,387 | €0 | -€1,387 | -100% |
| Other amounts receivable | 41 | €2,342 | €102 | -€2,240 | -95.7% |
| Current investments | 50/53 | €4,846 | €4,846 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €315,333 | €580,470 | +€265,137 | +84.1% |
| Deferred charges and accrued income | 490/1 | €495 | €9,990 | +€9,495 | +1,918% |
| Total equity and liabilities | 10/49 | €361,340 | €621,646 | +€260,306 | +72.0% |
| Equity | 10/15 | €346,595 | €36,724 | -€309,870 | -89.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €344,595 | €34,724 | -€309,870 | -89.9% |
| Distributable reserves | 133 | €344,595 | €34,724 | -€309,870 | -89.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,745 | €584,921 | +€570,176 | +3,867% |
| Amounts payable within one year | 42/48 | €14,745 | €584,921 | +€570,176 | +3,867% |
| Trade debts | 44 | €622 | €171 | -€451 | -72.5% |
| Suppliers | 440/4 | €622 | €171 | -€451 | -72.5% |
| Taxes, remuneration and social security | 45 | €320 | €3,540 | +€3,219 | +1,005% |
| Taxes | 450/3 | €320 | €3,540 | +€3,219 | +1,005% |
| Other amounts payable | 47/48 | €13,803 | €581,211 | +€567,408 | +4,111% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,700 | €10,700 | = | 0.0% |
| Other operating charges | 640/8 | €544 | €562 | +€18 | +3.3% |
| Gross operating margin | 9900 | €459,662 | €485,027 | +€25,365 | +5.5% |
| Operating profit (loss) | 9901 | €448,418 | €473,765 | +€25,347 | +5.7% |
| Financial income | 75/76B | €133 | €147 | +€14 | +10.2% |
| Recurring financial income | 75 | €133 | €147 | +€14 | +10.2% |
| Financial charges | 65/66B | €1,542 | €603 | -€939 | -60.9% |
| Recurring financial charges | 65 | €1,542 | €603 | -€939 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €447,009 | €473,309 | +€26,299 | +5.9% |
| Income taxes | 67/77 | €106,938 | €113,585 | +€6,646 | +6.2% |
| Profit (loss) for the period | 9904 | €340,071 | €359,724 | +€19,653 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €340,071 | €359,724 | +€19,653 | +5.8% |
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.