Dr. Bart GYPEN: 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. Bart GYPEN
Largest movements
- Cash +€160,699
up €160,699 (+56.3%), from €285,590 to €446,289
mainly Net result for the year (+€138,962) and Other debts (+€114,509)
- Deferred charges and accrued income -€39,721
down €39,721 (-96.7%), from €41,076 to €1,355
- Current investments +€24,045
up €24,045 (+1,202%), from €2,000 to €26,045
- Tangible fixed assets -€20,865
down €20,865 (-4.8%), from €430,393 to €409,528
of which Land and buildings: -€25,226
- Receivables within one year +€19,942
up €19,942 (+107%), from €18,646 to €38,589
- Other debts +€114,509
up €114,509 (+213%), from €53,860 to €168,368
- Tax, wage and social debts +€17,917
up €17,917 (+54.9%), from €32,651 to €50,568
- Reserves +€12,561
up €12,561 (+1.8%), from €687,552 to €700,113
- Gross operating margin -€53,035
down €53,035 (-18.8%), from €281,659 to €228,624
- Taxes -€19,890
down €19,890 (-24.4%), from €81,409 to €61,519
- Depreciation +€11,597
up €11,597 (+65.2%), from €17,793 to €29,390
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 | €777,706 | €921,805 | +€144,100 | +18.5% |
| Fixed assets | 21/28 | €430,393 | €409,528 | -€20,865 | -4.8% |
| Tangible fixed assets | 22/27 | €430,393 | €409,528 | -€20,865 | -4.8% |
| Land and buildings | 22 | €429,738 | €404,512 | -€25,226 | -5.9% |
| Furniture and vehicles | 24 | €655 | €5,015 | +€4,361 | +666% |
| Current assets | 29/58 | €347,313 | €512,278 | +€164,965 | +47.5% |
| Amounts receivable within one year | 40/41 | €18,646 | €38,589 | +€19,942 | +107% |
| Trade receivables | 40 | €18,646 | €38,589 | +€19,942 | +107% |
| Current investments | 50/53 | €2,000 | €26,045 | +€24,045 | +1,202% |
| Cash at bank and in hand | 54/58 | €285,590 | €446,289 | +€160,699 | +56.3% |
| Deferred charges and accrued income | 490/1 | €41,076 | €1,355 | -€39,721 | -96.7% |
| Total equity and liabilities | 10/49 | €777,706 | €921,805 | +€144,100 | +18.5% |
| Equity | 10/15 | €688,553 | €701,114 | +€12,561 | +1.8% |
| Contributions | 10/11 | €1,001 | €1,001 | = | 0.0% |
| Reserves | 13 | €687,552 | €700,113 | +€12,561 | +1.8% |
| Distributable reserves | 133 | €687,552 | €700,113 | +€12,561 | +1.8% |
| Amounts payable | 17/49 | €89,152 | €220,692 | +€131,539 | +148% |
| Amounts payable within one year | 42/48 | €89,152 | €220,692 | +€131,539 | +148% |
| Trade debts | 44 | €2,641 | €1,756 | -€886 | -33.5% |
| Suppliers | 440/4 | €2,641 | €1,756 | -€886 | -33.5% |
| Taxes, remuneration and social security | 45 | €32,651 | €50,568 | +€17,917 | +54.9% |
| Taxes | 450/3 | €32,651 | €50,568 | +€17,917 | +54.9% |
| Other amounts payable | 47/48 | €53,860 | €168,368 | +€114,509 | +213% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,793 | €29,390 | +€11,597 | +65.2% |
| Other operating charges | 640/8 | €2,383 | €1,796 | -€587 | -24.6% |
| Gross operating margin | 9900 | €281,659 | €228,624 | -€53,035 | -18.8% |
| Operating profit (loss) | 9901 | €261,484 | €197,438 | -€64,046 | -24.5% |
| Financial income | 75/76B | €3,439 | €3,148 | -€290 | -8.4% |
| Recurring financial income | 75 | €3,439 | €3,148 | -€290 | -8.4% |
| Financial charges | 65/66B | €94 | €105 | +€11 | +11.7% |
| Recurring financial charges | 65 | €94 | €105 | +€11 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | €264,828 | €200,481 | -€64,347 | -24.3% |
| Income taxes | 67/77 | €81,409 | €61,519 | -€19,890 | -24.4% |
| Profit (loss) for the period | 9904 | €183,419 | €138,962 | -€44,457 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €183,419 | €138,962 | -€44,457 | -24.2% |
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 23 October 2026 via checked.be.