DR.BEN HÔREN: what changed
DR.BEN HÔREN
Largest movements
- Cash +€154,467
up €154,467 (+247%), from €62,493 to €216,961
mainly Net result for the year (+€116,846) and Depreciation (+€77,107)
- Tangible fixed assets +€61,594
up €61,594 (+12.8%), from €482,164 to €543,758
of which Furniture and vehicles: +€91,421
- Current investments -€40,000
down €40,000 (-18.8%), from €212,687 to €172,687
- Reserves +€85,562
up €85,562 (+19.7%), from €434,773 to €520,335
- Debts after one year +€55,401
up €55,401 (+30.9%), from €179,563 to €234,964
- Current portion of long-term debt +€23,896
up €23,896 (+58.3%), from €41,004 to €64,900
- Tax, wage and social debts +€16,102
up €16,102 (+110%), from €14,662 to €30,764
- Gross operating margin +€51,158
up €51,158 (+25.7%), from €198,894 to €250,053
- Depreciation +€21,823
up €21,823 (+39.5%), from €55,284 to €77,107
- Financial charges -€6,944
down €6,944 (-49.2%), from €14,118 to €7,174
- Taxes +€6,666
up €6,666 (+14.9%), from €44,604 to €51,270
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €792,458 | €965,847 | +€173,389 | +21.9% |
| Fixed assets | 21/28 | €482,164 | €543,758 | +€61,594 | +12.8% |
| Tangible fixed assets | 22/27 | €482,164 | €543,758 | +€61,594 | +12.8% |
| Land and buildings | 22 | €387,406 | €361,543 | -€25,863 | -6.7% |
| Plant, machinery and equipment | 23 | €22,248 | €19,713 | -€2,535 | -11.4% |
| Furniture and vehicles | 24 | €56,354 | €147,774 | +€91,421 | +162% |
| Other tangible fixed assets | 26 | €16,158 | €14,729 | -€1,429 | -8.8% |
| Current assets | 29/58 | €310,294 | €422,089 | +€111,794 | +36.0% |
| Amounts receivable within one year | 40/41 | €5,000 | - | -€5,000 | |
| Trade receivables | 40 | €5,000 | - | -€5,000 | |
| Current investments | 50/53 | €212,687 | €172,687 | -€40,000 | -18.8% |
| Cash at bank and in hand | 54/58 | €62,493 | €216,961 | +€154,467 | +247% |
| Deferred charges and accrued income | 490/1 | €30,114 | €32,442 | +€2,327 | +7.7% |
| Total equity and liabilities | 10/49 | €792,458 | €965,847 | +€173,389 | +21.9% |
| Equity | 10/15 | €436,633 | €522,195 | +€85,562 | +19.6% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €434,773 | €520,335 | +€85,562 | +19.7% |
| Distributable reserves | 133 | €434,773 | €520,335 | +€85,562 | +19.7% |
| Amounts payable | 17/49 | €355,826 | €443,653 | +€87,827 | +24.7% |
| Amounts payable after more than one year | 17 | €179,563 | €234,964 | +€55,401 | +30.9% |
| Financial debts | 170/4 | €179,563 | €234,964 | +€55,401 | +30.9% |
| Amounts payable within one year | 42/48 | €176,263 | €208,689 | +€32,426 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €41,004 | €64,900 | +€23,896 | +58.3% |
| Trade debts | 44 | €4,320 | €2,267 | -€2,054 | -47.5% |
| Suppliers | 440/4 | €4,320 | €2,267 | -€2,054 | -47.5% |
| Taxes, remuneration and social security | 45 | €14,662 | €30,764 | +€16,102 | +110% |
| Taxes | 450/3 | €14,662 | €30,764 | +€16,102 | +110% |
| Other amounts payable | 47/48 | €116,277 | €110,758 | -€5,518 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,284 | €77,107 | +€21,823 | +39.5% |
| Other operating charges | 640/8 | €3,202 | €2,626 | -€576 | -18.0% |
| Gross operating margin | 9900 | €198,894 | €250,053 | +€51,158 | +25.7% |
| Operating profit (loss) | 9901 | €140,409 | €170,320 | +€29,911 | +21.3% |
| Financial income | 75/76B | €2,745 | €4,970 | +€2,224 | +81.0% |
| Recurring financial income | 75 | €2,745 | €4,970 | +€2,224 | +81.0% |
| Financial charges | 65/66B | €14,118 | €7,174 | -€6,944 | -49.2% |
| Recurring financial charges | 65 | €14,118 | €7,174 | -€6,944 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | €129,036 | €168,115 | +€39,080 | +30.3% |
| Income taxes | 67/77 | €44,604 | €51,270 | +€6,666 | +14.9% |
| Profit (loss) for the period | 9904 | €84,432 | €116,846 | +€32,414 | +38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,432 | €116,846 | +€32,414 | +38.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.