Dr. C. Broeckx: 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. Broeckx
Largest movements
- Tangible fixed assets +€40,837
up €40,837 (+63.8%), from €64,044 to €104,881
of which Other tangible fixed assets: +€48,477
- Receivables within one year +€11,084
up €11,084 (+522%), from €2,125 to €13,209
of which Other amounts receivable: +€6,077
- Cash -€4,954
down €4,954 (-24.5%), from €20,252 to €15,297
mainly Contributions, distributions and other (-€200,000) and Investment in fixed assets (net) (-€63,388)
- Deferred charges and accrued income -€3,491
down €3,491 (-3.6%), from €96,208 to €92,718
- Other debts +€82,504
up €82,504 (+197%), from €41,928 to €124,431
- Reserves -€39,995
down €39,995 (-18.4%), from €217,796 to €177,801
- Gross operating margin -€55,828
down €55,828 (-19.4%), from €288,367 to €232,539
- Taxes -€14,939
down €14,939 (-23.4%), from €63,863 to €48,923
- Depreciation +€4,624
up €4,624 (+25.8%), from €17,927 to €22,550
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 | €282,629 | €326,105 | +€43,477 | +15.4% |
| Fixed assets | 21/28 | €64,044 | €104,881 | +€40,837 | +63.8% |
| Tangible fixed assets | 22/27 | €64,044 | €104,881 | +€40,837 | +63.8% |
| Plant, machinery and equipment | 23 | - | €2,209 | +€2,209 | |
| Furniture and vehicles | 24 | €16,625 | €6,776 | -€9,849 | -59.2% |
| Other tangible fixed assets | 26 | €47,419 | €95,896 | +€48,477 | +102% |
| Current assets | 29/58 | €218,585 | €221,224 | +€2,640 | +1.2% |
| Amounts receivable within one year | 40/41 | €2,125 | €13,209 | +€11,084 | +522% |
| Trade receivables | 40 | €482 | €5,490 | +€5,008 | +1,039% |
| Other amounts receivable | 41 | €1,643 | €7,719 | +€6,077 | +370% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €20,252 | €15,297 | -€4,954 | -24.5% |
| Deferred charges and accrued income | 490/1 | €96,208 | €92,718 | -€3,491 | -3.6% |
| Total equity and liabilities | 10/49 | €282,629 | €326,105 | +€43,477 | +15.4% |
| Equity | 10/15 | €236,396 | €196,401 | -€39,995 | -16.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €217,796 | €177,801 | -€39,995 | -18.4% |
| Distributable reserves | 133 | €217,796 | €177,801 | -€39,995 | -18.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,233 | €129,705 | +€83,472 | +181% |
| Amounts payable within one year | 42/48 | €42,233 | €124,705 | +€82,472 | +195% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €305 | €273 | -€32 | -10.4% |
| Suppliers | 440/4 | €305 | €273 | -€32 | -10.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €41,928 | €124,431 | +€82,504 | +197% |
| Accrued charges and deferred income | 492/3 | €4,000 | €5,000 | +€1,000 | +25.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,927 | €22,550 | +€4,624 | +25.8% |
| Other operating charges | 640/8 | €676 | €807 | +€130 | +19.3% |
| Gross operating margin | 9900 | €288,367 | €232,539 | -€55,828 | -19.4% |
| Operating profit (loss) | 9901 | €269,764 | €209,182 | -€60,582 | -22.5% |
| Financial income | 75/76B | €1,684 | €0 | -€1,684 | -100% |
| Recurring financial income | 75 | €1,684 | €0 | -€1,684 | -100% |
| Financial charges | 65/66B | €235 | €254 | +€18 | +7.7% |
| Recurring financial charges | 65 | €235 | €254 | +€18 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €271,213 | €208,929 | -€62,285 | -23.0% |
| Income taxes | 67/77 | €63,863 | €48,923 | -€14,939 | -23.4% |
| Profit (loss) for the period | 9904 | €207,350 | €160,005 | -€47,345 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €207,350 | €160,005 | -€47,345 | -22.8% |
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 27 October 2026 via checked.be.