Dr. C. Bouts: 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. C. Bouts
Largest movements
- Current investments -€107,284
down €107,284 (-72.8%), from €147,284 to €40,000
- Deferred charges and accrued income +€32,395
up €32,395 (+12.5%), from €259,040 to €291,435
- Tangible fixed assets -€27,811
down €27,811 (-18.9%), from €147,167 to €119,356
- Cash +€24,657
up €24,657 (+31.1%), from €79,389 to €104,046
mainly Net result for the year (+€400,667) and Other debts (+€335,134)
- Reserves -€385,233
down €385,233 (-76.1%), from €506,092 to €120,860
- Other debts +€335,134
up €335,134 (+37,237%), from €900 to €336,034
- Debts after one year -€29,030
down €29,030 (-32.2%), from €90,249 to €61,219
- Gross operating margin -€105,970
down €105,970 (-16.0%), from €661,743 to €555,773
- Taxes -€23,465
down €23,465 (-15.3%), from €153,113 to €129,648
- Depreciation -€11,201
down €11,201 (-28.7%), from €39,012 to €27,811
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 | €637,728 | €556,013 | -€81,715 | -12.8% |
| Fixed assets | 21/28 | €147,167 | €119,356 | -€27,811 | -18.9% |
| Tangible fixed assets | 22/27 | €147,167 | €119,356 | -€27,811 | -18.9% |
| Furniture and vehicles | 24 | €147,167 | €119,356 | -€27,811 | -18.9% |
| Current assets | 29/58 | €490,561 | €436,657 | -€53,904 | -11.0% |
| Amounts receivable within one year | 40/41 | €4,847 | €1,176 | -€3,672 | -75.7% |
| Trade receivables | 40 | €1,287 | €1,176 | -€111 | -8.7% |
| Other amounts receivable | 41 | €3,560 | - | -€3,560 | |
| Current investments | 50/53 | €147,284 | €40,000 | -€107,284 | -72.8% |
| Cash at bank and in hand | 54/58 | €79,389 | €104,046 | +€24,657 | +31.1% |
| Deferred charges and accrued income | 490/1 | €259,040 | €291,435 | +€32,395 | +12.5% |
| Total equity and liabilities | 10/49 | €637,728 | €556,013 | -€81,715 | -12.8% |
| Equity | 10/15 | €508,592 | €123,360 | -€385,233 | -75.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €506,092 | €120,860 | -€385,233 | -76.1% |
| Distributable reserves | 133 | €506,092 | €120,860 | -€385,233 | -76.1% |
| Amounts payable | 17/49 | €129,136 | €432,654 | +€303,518 | +235% |
| Amounts payable after more than one year | 17 | €90,249 | €61,219 | -€29,030 | -32.2% |
| Financial debts | 170/4 | €90,249 | €61,219 | -€29,030 | -32.2% |
| Amounts payable within one year | 42/48 | €37,537 | €370,084 | +€332,548 | +886% |
| Current portion of amounts payable after more than one year | 42 | €28,024 | €29,030 | +€1,006 | +3.6% |
| Financial debts | 43 | - | €85 | +€85 | |
| Credit institutions | 430/8 | - | €85 | +€85 | |
| Trade debts | 44 | €3,025 | €494 | -€2,531 | -83.7% |
| Suppliers | 440/4 | €3,025 | €494 | -€2,531 | -83.7% |
| Taxes, remuneration and social security | 45 | €5,588 | €4,442 | -€1,146 | -20.5% |
| Taxes | 450/3 | €5,588 | €4,442 | -€1,146 | -20.5% |
| Other amounts payable | 47/48 | €900 | €336,034 | +€335,134 | +37,237% |
| Accrued charges and deferred income | 492/3 | €1,350 | €1,350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,012 | €27,811 | -€11,201 | -28.7% |
| Other operating charges | 640/8 | €1,080 | €786 | -€295 | -27.3% |
| Gross operating margin | 9900 | €661,743 | €555,773 | -€105,970 | -16.0% |
| Operating profit (loss) | 9901 | €621,650 | €527,177 | -€94,473 | -15.2% |
| Financial income | 75/76B | €2,602 | €7,081 | +€4,479 | +172% |
| Recurring financial income | 75 | €2,602 | €7,081 | +€4,479 | +172% |
| Financial charges | 65/66B | €4,967 | €3,942 | -€1,025 | -20.6% |
| Recurring financial charges | 65 | €4,967 | €3,942 | -€1,025 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €619,285 | €530,315 | -€88,970 | -14.4% |
| Income taxes | 67/77 | €153,113 | €129,648 | -€23,465 | -15.3% |
| Profit (loss) for the period | 9904 | €466,171 | €400,667 | -€65,504 | -14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €466,171 | €400,667 | -€65,504 | -14.1% |
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 17 October 2026 via checked.be.