Dr. Arne Cagnie: 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. Arne Cagnie
Largest movements
- Cash +€93,593
up €93,593 (+166%), from €56,376 to €149,969
mainly Net result for the year (+€90,843) and Tax, wage and social debts (+€7,517)
- Deferred charges and accrued income +€4,404
up €4,404 (+39.8%), from €11,065 to €15,469
- Reserves +€90,843
up €90,843 (+89.1%), from €101,940 to €192,783
- Tax, wage and social debts +€7,517
up €7,517 (+42.0%), from €17,906 to €25,423
- Gross operating margin +€30,698
up €30,698 (+37.0%), from €82,972 to €113,669
- Taxes +€7,277
up €7,277 (+43.3%), from €16,796 to €24,073
- Financial income +€2,297
up €2,297 (+386%), from €595 to €2,892
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 | €121,028 | €219,589 | +€98,561 | +81.4% |
| Fixed assets | 21/28 | €6,364 | €4,964 | -€1,400 | -22.0% |
| Tangible fixed assets | 22/27 | €6,364 | €4,964 | -€1,400 | -22.0% |
| Furniture and vehicles | 24 | €6,364 | €4,964 | -€1,400 | -22.0% |
| Current assets | 29/58 | €114,664 | €214,625 | +€99,961 | +87.2% |
| Amounts receivable after more than one year | 29 | €45,700 | €46,295 | +€595 | +1.3% |
| Other amounts receivable | 291 | €45,700 | €46,295 | +€595 | +1.3% |
| Amounts receivable within one year | 40/41 | €1,523 | €2,892 | +€1,369 | +89.9% |
| Trade receivables | 40 | €928 | €0 | -€928 | -100% |
| Other amounts receivable | 41 | €595 | €2,892 | +€2,297 | +386% |
| Cash at bank and in hand | 54/58 | €56,376 | €149,969 | +€93,593 | +166% |
| Deferred charges and accrued income | 490/1 | €11,065 | €15,469 | +€4,404 | +39.8% |
| Total equity and liabilities | 10/49 | €121,028 | €219,589 | +€98,561 | +81.4% |
| Equity | 10/15 | €101,941 | €192,784 | +€90,843 | +89.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €101,940 | €192,783 | +€90,843 | +89.1% |
| Distributable reserves | 133 | €101,940 | €192,783 | +€90,843 | +89.1% |
| Amounts payable | 17/49 | €19,087 | €26,805 | +€7,718 | +40.4% |
| Amounts payable within one year | 42/48 | €19,087 | €26,580 | +€7,493 | +39.3% |
| Trade debts | 44 | €56 | €67 | +€11 | +20.7% |
| Suppliers | 440/4 | €56 | €67 | +€11 | +20.7% |
| Taxes, remuneration and social security | 45 | €17,906 | €25,423 | +€7,517 | +42.0% |
| Taxes | 450/3 | €17,906 | €25,423 | +€7,517 | +42.0% |
| Other amounts payable | 47/48 | €1,125 | €1,090 | -€35 | -3.1% |
| Accrued charges and deferred income | 492/3 | - | €225 | +€225 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €635 | €1,400 | +€765 | +120% |
| Other operating charges | 640/8 | €656 | €163 | -€493 | -75.1% |
| Gross operating margin | 9900 | €82,972 | €113,669 | +€30,698 | +37.0% |
| Operating profit (loss) | 9901 | €81,681 | €112,106 | +€30,426 | +37.2% |
| Financial income | 75/76B | €595 | €2,892 | +€2,297 | +386% |
| Recurring financial income | 75 | €595 | €2,892 | +€2,297 | +386% |
| Financial charges | 65/66B | €152 | €83 | -€69 | -45.6% |
| Recurring financial charges | 65 | €152 | €83 | -€69 | -45.6% |
| Profit (loss) for the period before taxes | 9903 | €82,124 | €114,916 | +€32,792 | +39.9% |
| Income taxes | 67/77 | €16,796 | €24,073 | +€7,277 | +43.3% |
| Profit (loss) for the period | 9904 | €65,328 | €90,843 | +€25,515 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €65,328 | €90,843 | +€25,515 | +39.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.