DR. BEHAEGHE: 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. BEHAEGHE
Largest movements
- Current investments -€212,474
down €212,474 (-46.2%), from €460,054 to €247,580
- Cash +€37,676
up €37,676 (+236%), from €15,967 to €53,643
mainly Current investments (+€212,474) and Depreciation (+€12,084)
- Tangible fixed assets -€12,084
down €12,084 (-27.3%), from €44,299 to €32,215
of which Furniture and vehicles: -€12,084
- Profit (loss) carried forward -€151,558
down €151,558 (-54.3%), from €279,228 to €127,670
- Tax, wage and social debts -€32,146
down €32,146 (-71.0%), from €45,253 to €13,107
of which Taxes: -€24,079
- Taxes -€45,341
down €45,341 (-97.6%), from €46,444 to €1,103
- Staff costs -€44,418
down €44,418 (-67.2%), from €66,095 to €21,677
- Gross operating margin -€5,887
down €5,887 (-12.4%), from -€47,422 to -€53,309
- Financial income +€1,255
up €1,255 (+14.8%), from €8,477 to €9,731
- Other operating charges -€579
down €579 (-47.0%), from €1,233 to €654
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 | €658,153 | €472,569 | -€185,584 | -28.2% |
| Fixed assets | 21/28 | €44,324 | €32,240 | -€12,084 | -27.3% |
| Tangible fixed assets | 22/27 | €44,299 | €32,215 | -€12,084 | -27.3% |
| Furniture and vehicles | 24 | €38,949 | €26,865 | -€12,084 | -31.0% |
| Other tangible fixed assets | 26 | €5,350 | €5,350 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €613,829 | €440,330 | -€173,499 | -28.3% |
| Amounts receivable within one year | 40/41 | €137,128 | €139,106 | +€1,978 | +1.4% |
| Trade receivables | 40 | €791 | €0 | -€791 | -100% |
| Other amounts receivable | 41 | €136,338 | €139,106 | +€2,769 | +2.0% |
| Current investments | 50/53 | €460,054 | €247,580 | -€212,474 | -46.2% |
| Cash at bank and in hand | 54/58 | €15,967 | €53,643 | +€37,676 | +236% |
| Deferred charges and accrued income | 490/1 | €680 | €0 | -€680 | -100% |
| Total equity and liabilities | 10/49 | €658,153 | €472,569 | -€185,584 | -28.2% |
| Equity | 10/15 | €610,988 | €459,430 | -€151,558 | -24.8% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €325,563 | €325,563 | = | 0.0% |
| Tax-exempt reserves | 132 | €216 | €216 | = | 0.0% |
| Distributable reserves | 133 | €325,347 | €325,347 | = | 0.0% |
| Profit (loss) carried forward | 14 | €279,228 | €127,670 | -€151,558 | -54.3% |
| Amounts payable | 17/49 | €47,164 | €13,139 | -€34,025 | -72.1% |
| Amounts payable within one year | 42/48 | €47,164 | €13,139 | -€34,025 | -72.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,911 | €32 | -€1,880 | -98.3% |
| Suppliers | 440/4 | €1,911 | €32 | -€1,880 | -98.3% |
| Taxes, remuneration and social security | 45 | €45,253 | €13,107 | -€32,146 | -71.0% |
| Taxes | 450/3 | €37,186 | €13,107 | -€24,079 | -64.8% |
| Remuneration and social security | 454/9 | €8,067 | €0 | -€8,067 | -100% |
| Non-recurring operating income | 76A | €0 | €4,132 | +€4,132 | |
| Remuneration, social security and pensions | 62 | €66,095 | €21,677 | -€44,418 | -67.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,300 | €12,084 | -€216 | -1.8% |
| Other operating charges | 640/8 | €1,233 | €654 | -€579 | -47.0% |
| Gross operating margin | 9900 | -€47,422 | -€53,309 | -€5,887 | -12.4% |
| Operating profit (loss) | 9901 | -€127,050 | -€87,724 | +€39,326 | +31.0% |
| Financial income | 75/76B | €8,477 | €9,731 | +€1,255 | +14.8% |
| Recurring financial income | 75 | €8,477 | €9,731 | +€1,255 | +14.8% |
| Financial charges | 65/66B | €1,204 | €1,034 | -€171 | -14.2% |
| Recurring financial charges | 65 | €1,204 | €1,034 | -€171 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | -€119,778 | -€79,026 | +€40,752 | +34.0% |
| Income taxes | 67/77 | €46,444 | €1,103 | -€45,341 | -97.6% |
| Profit (loss) for the period | 9904 | -€166,222 | -€80,130 | +€86,093 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€166,222 | -€80,130 | +€86,093 | +51.8% |
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 29 October 2026 via checked.be.