Dr. Bo Callier: 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. Bo Callier
Largest movements
- Current investments +€24,212
up €24,212 (+80.7%), from €30,000 to €54,212
- Cash +€21,501
up €21,501 (+37.2%), from €57,723 to €79,224
mainly Net result for the year (+€53,068) and Depreciation (+€6,069)
- Tangible fixed assets -€6,069
down €6,069 (-28.6%), from €21,228 to €15,158
- Receivables within one year +€4,031
up €4,031 (+50.1%), from €8,043 to €12,074
of which Other amounts receivable: +€6,955
- Reserves +€53,068
up €53,068 (+56.3%), from €94,295 to €147,363
- Other debts -€8,190
down €8,190 (-48.7%), from €16,811 to €8,620
- Gross operating margin +€1,161
up €1,161 (+1.6%), from €74,064 to €75,225
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 | €117,482 | €161,263 | +€43,781 | +37.3% |
| Fixed assets | 21/28 | €21,228 | €15,158 | -€6,069 | -28.6% |
| Tangible fixed assets | 22/27 | €21,228 | €15,158 | -€6,069 | -28.6% |
| Furniture and vehicles | 24 | €21,228 | €15,158 | -€6,069 | -28.6% |
| Current assets | 29/58 | €96,255 | €146,105 | +€49,850 | +51.8% |
| Amounts receivable within one year | 40/41 | €8,043 | €12,074 | +€4,031 | +50.1% |
| Trade receivables | 40 | €3,098 | €174 | -€2,924 | -94.4% |
| Other amounts receivable | 41 | €4,945 | €11,900 | +€6,955 | +141% |
| Current investments | 50/53 | €30,000 | €54,212 | +€24,212 | +80.7% |
| Cash at bank and in hand | 54/58 | €57,723 | €79,224 | +€21,501 | +37.2% |
| Deferred charges and accrued income | 490/1 | €488 | €595 | +€107 | +21.8% |
| Total equity and liabilities | 10/49 | €117,482 | €161,263 | +€43,781 | +37.3% |
| Equity | 10/15 | €99,295 | €152,363 | +€53,068 | +53.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €94,295 | €147,363 | +€53,068 | +56.3% |
| Distributable reserves | 133 | €94,295 | €147,363 | +€53,068 | +56.3% |
| Amounts payable | 17/49 | €18,187 | €8,901 | -€9,287 | -51.1% |
| Amounts payable within one year | 42/48 | €18,187 | €8,901 | -€9,287 | -51.1% |
| Trade debts | 44 | €1,377 | €280 | -€1,096 | -79.6% |
| Suppliers | 440/4 | €1,377 | €280 | -€1,096 | -79.6% |
| Other amounts payable | 47/48 | €16,811 | €8,620 | -€8,190 | -48.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,137 | €6,069 | -€68 | -1.1% |
| Other operating charges | 640/8 | €592 | €617 | +€25 | +4.2% |
| Gross operating margin | 9900 | €74,064 | €75,225 | +€1,161 | +1.6% |
| Operating profit (loss) | 9901 | €67,335 | €68,539 | +€1,204 | +1.8% |
| Financial income | 75/76B | €0 | €303 | +€303 | +302,960% |
| Recurring financial income | 75 | €0 | €303 | +€303 | +302,960% |
| Financial charges | 65/66B | €104 | €704 | +€600 | +575% |
| Recurring financial charges | 65 | €104 | €704 | +€600 | +575% |
| Profit (loss) for the period before taxes | 9903 | €67,231 | €68,138 | +€907 | +1.3% |
| Income taxes | 67/77 | €14,727 | €15,070 | +€343 | +2.3% |
| Profit (loss) for the period | 9904 | €52,504 | €53,068 | +€564 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,504 | €53,068 | +€564 | +1.1% |
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 19 October 2026 via checked.be.