Dr. B. Van Dun: 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. B. Van Dun
Largest movements
- Receivables within one year +€131,943
up €131,943 (+34.6%), from €380,968 to €512,911
- Tangible fixed assets -€36,069
down €36,069 (-27.2%), from €132,757 to €96,688
of which Furniture and vehicles: -€35,485
- Current investments -€19,084
down €19,084 (-100%), from €19,084 to €0
- Cash -€12,182
down €12,182 (-27.0%), from €45,099 to €32,917
mainly Receivables within one year (-€131,943) and Contributions, distributions and other (-€100,000)
- Profit (loss) carried forward +€81,792
up €81,792 (+19.2%), from €427,091 to €508,883
- Debts after one year -€29,343
down €29,343 (-32.4%), from €90,492 to €61,149
- Tax, wage and social debts +€12,436
up €12,436 (+10.2%), from €122,372 to €134,808
- Gross operating margin -€36,098
down €36,098 (-12.3%), from €293,152 to €257,054
- Depreciation +€19,640
up €19,640 (+120%), from €16,429 to €36,069
- Financial income +€8,060
up €8,060 (+41.8%), from €19,289 to €27,349
- Taxes -€5,281
down €5,281 (-7.8%), from €68,141 to €62,860
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 | €677,908 | €743,011 | +€65,103 | +9.6% |
| Fixed assets | 21/28 | €132,757 | €96,688 | -€36,069 | -27.2% |
| Tangible fixed assets | 22/27 | €132,757 | €96,688 | -€36,069 | -27.2% |
| Plant, machinery and equipment | 23 | €2,491 | €1,907 | -€584 | -23.4% |
| Furniture and vehicles | 24 | €130,266 | €94,781 | -€35,485 | -27.2% |
| Current assets | 29/58 | €545,151 | €646,323 | +€101,172 | +18.6% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €380,968 | €512,911 | +€131,943 | +34.6% |
| Other amounts receivable | 41 | €380,968 | €512,911 | +€131,943 | +34.6% |
| Current investments | 50/53 | €19,084 | €0 | -€19,084 | -100% |
| Cash at bank and in hand | 54/58 | €45,099 | €32,917 | -€12,182 | -27.0% |
| Deferred charges and accrued income | 490/1 | - | €495 | +€495 | |
| Total equity and liabilities | 10/49 | €677,908 | €743,011 | +€65,103 | +9.6% |
| Equity | 10/15 | €432,091 | €513,883 | +€81,792 | +18.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €427,091 | €508,883 | +€81,792 | +19.2% |
| Amounts payable | 17/49 | €245,818 | €229,128 | -€16,690 | -6.8% |
| Amounts payable after more than one year | 17 | €90,492 | €61,149 | -€29,343 | -32.4% |
| Financial debts | 170/4 | €90,492 | €61,149 | -€29,343 | -32.4% |
| Amounts payable within one year | 42/48 | €155,326 | €167,979 | +€12,654 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €32,838 | €30,368 | -€2,470 | -7.5% |
| Trade debts | 44 | €116 | €2,803 | +€2,687 | +2,315% |
| Suppliers | 440/4 | €116 | €2,803 | +€2,687 | +2,315% |
| Taxes, remuneration and social security | 45 | €122,372 | €134,808 | +€12,436 | +10.2% |
| Taxes | 450/3 | €122,372 | €134,808 | +€12,436 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,429 | €36,069 | +€19,640 | +120% |
| Other operating charges | 640/8 | €545 | €161 | -€384 | -70.5% |
| Gross operating margin | 9900 | €293,152 | €257,054 | -€36,098 | -12.3% |
| Operating profit (loss) | 9901 | €276,178 | €220,824 | -€55,354 | -20.0% |
| Financial income | 75/76B | €19,289 | €27,349 | +€8,060 | +41.8% |
| Recurring financial income | 75 | €19,289 | €27,349 | +€8,060 | +41.8% |
| Financial charges | 65/66B | €1,448 | €3,520 | +€2,072 | +143% |
| Recurring financial charges | 65 | €1,448 | €3,520 | +€2,072 | +143% |
| Profit (loss) for the period before taxes | 9903 | €294,019 | €244,653 | -€49,366 | -16.8% |
| Income taxes | 67/77 | €68,141 | €62,860 | -€5,281 | -7.8% |
| Profit (loss) for the period | 9904 | €225,878 | €181,792 | -€44,085 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €225,878 | €181,792 | -€44,085 | -19.5% |
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 20 October 2026 via checked.be.