Dr. B. Govers: 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. Govers
Largest movements
- Cash +€110,220
up €110,220 (+144.2%), from €76,446 to €186,666
mainly Net result for the year (+€197,224) and Other debts (+€50,598)
- Deferred charges and accrued income +€38,328
up €38,328 (+69.8%), from €54,934 to €93,262
- Receivables within one year +€14,238
up €14,238 (+328.8%), from €4,331 to €18,569
- Reserves +€61,616
up €61,616 (+8069.6%), from €764 to €62,379
- Other debts +€50,598
up €50,598 (+59.5%), from €85,000 to €135,598
- Tax, wage and social debts +€46,071
up €46,071 (+109.5%), from €42,084 to €88,154
of which Taxes: +€45,855
- Trade debts +€4,501
up €4,501 (+157.2%), from €2,864 to €7,365
- Gross operating margin +€129,677
up €129,677 (+101.3%), from €127,978 to €257,655
- Taxes +€33,771
up €33,771 (+124.7%), from €27,084 to €60,855
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 | €135,711 | €298,497 | +€162,786 | +120.0% |
| Current assets | 29/58 | €135,711 | €298,497 | +€162,786 | +120.0% |
| Amounts receivable within one year | 40/41 | €4,331 | €18,569 | +€14,238 | +328.8% |
| Other amounts receivable | 41 | €4,331 | €18,569 | +€14,238 | +328.8% |
| Cash at bank and in hand | 54/58 | €76,446 | €186,666 | +€110,220 | +144.2% |
| Deferred charges and accrued income | 490/1 | €54,934 | €93,262 | +€38,328 | +69.8% |
| Total equity and liabilities | 10/49 | €135,711 | €298,497 | +€162,786 | +120.0% |
| Equity | 10/15 | €5,764 | €67,379 | +€61,616 | +1069.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €764 | €62,379 | +€61,616 | +8069.6% |
| Distributable reserves | 133 | €764 | €62,379 | +€61,616 | +8069.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €129,947 | €231,117 | +€101,170 | +77.9% |
| Amounts payable within one year | 42/48 | €129,947 | €231,117 | +€101,170 | +77.9% |
| Trade debts | 44 | €2,864 | €7,365 | +€4,501 | +157.2% |
| Suppliers | 440/4 | €2,864 | €7,365 | +€4,501 | +157.2% |
| Taxes, remuneration and social security | 45 | €42,084 | €88,154 | +€46,071 | +109.5% |
| Taxes | 450/3 | €42,084 | €87,938 | +€45,855 | +109.0% |
| Remuneration and social security | 454/9 | - | €216 | +€216 | |
| Other amounts payable | 47/48 | €85,000 | €135,598 | +€50,598 | +59.5% |
| Other operating charges | 640/8 | €268 | €118 | -€150 | -56.0% |
| Gross operating margin | 9900 | €127,978 | €257,655 | +€129,677 | +101.3% |
| Operating profit (loss) | 9901 | €127,710 | €257,537 | +€129,827 | +101.7% |
| Financial income | 75/76B | €137 | €739 | +€601 | +438.4% |
| Recurring financial income | 75 | €137 | €739 | +€601 | +438.4% |
| Financial charges | 65/66B | €0 | €197 | +€197 | +131380.0% |
| Recurring financial charges | 65 | €0 | €197 | +€197 | +131380.0% |
| Profit (loss) for the period before taxes | 9903 | €127,847 | €258,078 | +€130,231 | +101.9% |
| Income taxes | 67/77 | €27,084 | €60,855 | +€33,771 | +124.7% |
| Profit (loss) for the period | 9904 | €100,764 | €197,224 | +€96,460 | +95.7% |
| Profit (loss) for the period to be appropriated | 9905 | €100,764 | €197,224 | +€96,460 | +95.7% |
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 8 October 2026 via checked.be.