Dr. Busschaert Nicolas: 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. Busschaert Nicolas
Largest movements
- Current investments +€37,527
up €37,527 (+77.8%), from €48,240 to €85,767
- Tangible fixed assets -€20,593
down €20,593 (-24.2%), from €85,270 to €64,677
of which Furniture and vehicles: -€19,736
- Cash -€13,234
down €13,234 (-8.9%), from €149,461 to €136,227
mainly Contributions, distributions and other (-€195,000) and Current investments (-€37,527)
- Other debts +€41,993
up €41,993 (+124%), from €33,800 to €75,793
- Debts after one year -€19,097
down €19,097 (-29.7%), from €64,277 to €45,180
- Reserves -€17,220
down €17,220 (-9.5%), from €180,736 to €163,517
- Trade debts -€7,636
down €7,636 (-89.6%), from €8,525 to €889
- Tax, wage and social debts +€5,890
up €5,890 (+247%), from €2,389 to €8,279
- Gross operating margin +€51,431
up €51,431 (+25.4%), from €202,839 to €254,269
- Taxes +€11,550
up €11,550 (+27.4%), from €42,151 to €53,701
- Depreciation +€3,412
up €3,412 (+19.9%), from €17,181 to €20,593
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 | €310,744 | €315,258 | +€4,514 | +1.5% |
| Fixed assets | 21/28 | €85,270 | €64,677 | -€20,593 | -24.2% |
| Tangible fixed assets | 22/27 | €85,270 | €64,677 | -€20,593 | -24.2% |
| Plant, machinery and equipment | 23 | €3,095 | €2,238 | -€856 | -27.7% |
| Furniture and vehicles | 24 | €82,175 | €62,439 | -€19,736 | -24.0% |
| Current assets | 29/58 | €225,474 | €250,581 | +€25,107 | +11.1% |
| Amounts receivable within one year | 40/41 | €24,231 | €25,036 | +€805 | +3.3% |
| Trade receivables | 40 | - | €4,158 | +€4,158 | |
| Other amounts receivable | 41 | €24,231 | €20,878 | -€3,353 | -13.8% |
| Current investments | 50/53 | €48,240 | €85,767 | +€37,527 | +77.8% |
| Cash at bank and in hand | 54/58 | €149,461 | €136,227 | -€13,234 | -8.9% |
| Deferred charges and accrued income | 490/1 | €3,542 | €3,551 | +€9 | +0.3% |
| Total equity and liabilities | 10/49 | €310,744 | €315,258 | +€4,514 | +1.5% |
| Equity | 10/15 | €183,236 | €166,017 | -€17,220 | -9.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €180,736 | €163,517 | -€17,220 | -9.5% |
| Distributable reserves | 133 | €180,736 | €163,517 | -€17,220 | -9.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €127,507 | €149,242 | +€21,734 | +17.0% |
| Amounts payable after more than one year | 17 | €64,277 | €45,180 | -€19,097 | -29.7% |
| Financial debts | 170/4 | €64,277 | €45,180 | -€19,097 | -29.7% |
| Amounts payable within one year | 42/48 | €63,231 | €104,057 | +€40,826 | +64.6% |
| Current portion of amounts payable after more than one year | 42 | €18,517 | €19,097 | +€580 | +3.1% |
| Trade debts | 44 | €8,525 | €889 | -€7,636 | -89.6% |
| Suppliers | 440/4 | €8,525 | €889 | -€7,636 | -89.6% |
| Taxes, remuneration and social security | 45 | €2,389 | €8,279 | +€5,890 | +247% |
| Taxes | 450/3 | €2,389 | €8,279 | +€5,890 | +247% |
| Other amounts payable | 47/48 | €33,800 | €75,793 | +€41,993 | +124% |
| Accrued charges and deferred income | 492/3 | - | €4 | +€4 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,181 | €20,593 | +€3,412 | +19.9% |
| Other operating charges | 640/8 | €1,525 | €1,405 | -€120 | -7.9% |
| Gross operating margin | 9900 | €202,839 | €254,269 | +€51,431 | +25.4% |
| Operating profit (loss) | 9901 | €184,133 | €232,272 | +€48,139 | +26.1% |
| Financial income | 75/76B | €2,468 | €1,857 | -€611 | -24.8% |
| Recurring financial income | 75 | €2,468 | €1,857 | -€611 | -24.8% |
| Financial charges | 65/66B | €2,369 | €2,648 | +€279 | +11.8% |
| Recurring financial charges | 65 | €2,369 | €2,648 | +€279 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €184,232 | €231,481 | +€47,249 | +25.6% |
| Income taxes | 67/77 | €42,151 | €53,701 | +€11,550 | +27.4% |
| Profit (loss) for the period | 9904 | €142,081 | €177,780 | +€35,699 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | €142,081 | €177,780 | +€35,699 | +25.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.