Dr. B. Colebunders: what changed
Two fiscal 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. B. Colebunders
Largest movements
- Current investments -€300,000
down €300,000 (-100.0%), from €300,000 to €0
- Deferred charges and accrued income +€73,410
up €73,410 (+89.9%), from €81,624 to €155,034
- Cash +€68,140
up €68,140 (+56.7%), from €120,255 to €188,396
mainly Net result for the year (+€361,172) and Current investments (+€300,000)
- Receivables within one year -€10,720
down €10,720 (-14.9%), from €72,185 to €61,464
of which Trade receivables: -€10,720
- Other debts -€193,942
down €193,942 (-34.6%), from €561,092 to €367,150
- Tax, wage and social debts +€24,280
up €24,280 (+1040.1%), from €2,334 to €26,614
of which Taxes: +€24,280
- Gross operating margin +€53,066
up €53,066 (+13.1%), from €405,106 to €458,173
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.
Cash bridge derived
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 | €583,156 | €413,022 | -€170,133 | -29.2% |
| Fixed assets | 21/28 | €9,092 | €8,128 | -€964 | -10.6% |
| Tangible fixed assets | 22/27 | €9,092 | €8,128 | -€964 | -10.6% |
| Plant, machinery and equipment | 23 | €4,592 | €4,196 | -€395 | -8.6% |
| Furniture and vehicles | 24 | €4,500 | €3,932 | -€568 | -12.6% |
| Current assets | 29/58 | €574,064 | €404,894 | -€169,170 | -29.5% |
| Amounts receivable within one year | 40/41 | €72,185 | €61,464 | -€10,720 | -14.9% |
| Trade receivables | 40 | €57,355 | €46,635 | -€10,720 | -18.7% |
| Other amounts receivable | 41 | €14,829 | €14,829 | = | 0.0% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €120,255 | €188,396 | +€68,140 | +56.7% |
| Deferred charges and accrued income | 490/1 | €81,624 | €155,034 | +€73,410 | +89.9% |
| Total equity and liabilities | 10/49 | €583,156 | €413,022 | -€170,133 | -29.2% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €564,556 | €394,422 | -€170,133 | -30.1% |
| Amounts payable within one year | 42/48 | €563,681 | €394,122 | -€169,559 | -30.1% |
| Trade debts | 44 | €254 | €357 | +€103 | +40.5% |
| Suppliers | 440/4 | €254 | €357 | +€103 | +40.5% |
| Taxes, remuneration and social security | 45 | €2,334 | €26,614 | +€24,280 | +1040.1% |
| Taxes | 450/3 | €2,334 | €26,614 | +€24,280 | +1040.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €561,092 | €367,150 | -€193,942 | -34.6% |
| Accrued charges and deferred income | 492/3 | €875 | €300 | -€575 | -65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,101 | €1,801 | -€300 | -14.3% |
| Other operating charges | 640/8 | €1,094 | €575 | -€518 | -47.4% |
| Gross operating margin | 9900 | €405,106 | €458,173 | +€53,066 | +13.1% |
| Operating profit (loss) | 9901 | €401,912 | €455,796 | +€53,884 | +13.4% |
| Financial income | 75/76B | €5,664 | €7,035 | +€1,371 | +24.2% |
| Recurring financial income | 75 | €5,664 | €7,035 | +€1,371 | +24.2% |
| Financial charges | 65/66B | -€930 | €138 | +€1,067 | |
| Recurring financial charges | 65 | -€930 | €138 | +€1,067 | |
| Profit (loss) for the period before taxes | 9903 | €408,506 | €462,694 | +€54,188 | +13.3% |
| Income taxes | 67/77 | €99,865 | €101,521 | +€1,657 | +1.7% |
| Profit (loss) for the period | 9904 | €308,641 | €361,172 | +€52,531 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €308,641 | €361,172 | +€52,531 | +17.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.