Dr. C. Dielen: 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. Dielen
Largest movements
- Intangible fixed assets -€35,000
down €35,000 (-16.7%), from €210,000 to €175,000
- Cash -€26,604
down €26,604 (-22.6%), from €117,472 to €90,868
mainly Contributions, distributions and other (-€112,876) and Other debts (-€26,162)
- Deferred charges and accrued income -€21,046
down €21,046 (-92.6%), from €22,729 to €1,683
- Other debts -€26,162
down €26,162 (-18.9%), from €138,389 to €112,226
- Debts after one year -€21,894
down €21,894 (-100%), from €21,894 to €0
- Current portion of long-term debt -€20,596
down €20,596 (-48.5%), from €42,489 to €21,894
- Reserves -€16,849
down €16,849 (-9.3%), from €180,236 to €163,387
of which Distributable reserves: -€16,849
- Tax, wage and social debts +€5,110
up €5,110 (+14.8%), from €34,445 to €39,555
- Gross operating margin -€23,210
down €23,210 (-11.3%), from €206,008 to €182,798
- Taxes -€5,284
down €5,284 (-13.6%), from €38,954 to €33,670
- Depreciation +€2,541
up €2,541 (+5.5%), from €46,622 to €49,164
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 | €427,591 | €344,016 | -€83,576 | -19.5% |
| Fixed assets | 21/28 | €287,390 | €251,464 | -€35,926 | -12.5% |
| Intangible fixed assets | 21 | €210,000 | €175,000 | -€35,000 | -16.7% |
| Tangible fixed assets | 22/27 | €77,390 | €76,464 | -€926 | -1.2% |
| Plant, machinery and equipment | 23 | €6,454 | €13,506 | +€7,052 | +109% |
| Furniture and vehicles | 24 | €9,532 | €8,034 | -€1,498 | -15.7% |
| Other tangible fixed assets | 26 | €61,404 | €54,924 | -€6,479 | -10.6% |
| Current assets | 29/58 | €140,201 | €92,551 | -€47,650 | -34.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €117,472 | €90,868 | -€26,604 | -22.6% |
| Deferred charges and accrued income | 490/1 | €22,729 | €1,683 | -€21,046 | -92.6% |
| Total equity and liabilities | 10/49 | €427,591 | €344,016 | -€83,576 | -19.5% |
| Equity | 10/15 | €185,236 | €168,387 | -€16,849 | -9.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €180,236 | €163,387 | -€16,849 | -9.3% |
| Tax-exempt reserves | 132 | €67,360 | €67,360 | = | 0.0% |
| Distributable reserves | 133 | €112,876 | €96,027 | -€16,849 | -14.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €242,356 | €175,629 | -€66,727 | -27.5% |
| Amounts payable after more than one year | 17 | €21,894 | €0 | -€21,894 | -100% |
| Financial debts | 170/4 | €21,894 | €0 | -€21,894 | -100% |
| Amounts payable within one year | 42/48 | €219,742 | €175,218 | -€44,524 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €42,489 | €21,894 | -€20,596 | -48.5% |
| Trade debts | 44 | €4,419 | €1,543 | -€2,876 | -65.1% |
| Suppliers | 440/4 | €4,419 | €1,543 | -€2,876 | -65.1% |
| Taxes, remuneration and social security | 45 | €34,445 | €39,555 | +€5,110 | +14.8% |
| Taxes | 450/3 | €34,445 | €39,555 | +€5,110 | +14.8% |
| Other amounts payable | 47/48 | €138,389 | €112,226 | -€26,162 | -18.9% |
| Accrued charges and deferred income | 492/3 | €720 | €411 | -€309 | -42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,622 | €49,164 | +€2,541 | +5.5% |
| Other operating charges | 640/8 | €1,600 | €971 | -€629 | -39.3% |
| Non-recurring operating charges | 66A | €3,100 | €0 | -€3,100 | -100% |
| Gross operating margin | 9900 | €206,008 | €182,798 | -€23,210 | -11.3% |
| Operating profit (loss) | 9901 | €154,686 | €132,664 | -€22,022 | -14.2% |
| Financial income | 75/76B | €1,109 | €0 | -€1,109 | -100.0% |
| Recurring financial income | 75 | €1,109 | €0 | -€1,109 | -100.0% |
| Financial charges | 65/66B | €3,966 | €2,967 | -€999 | -25.2% |
| Recurring financial charges | 65 | €3,966 | €2,967 | -€999 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €151,829 | €129,697 | -€22,132 | -14.6% |
| Income taxes | 67/77 | €38,954 | €33,670 | -€5,284 | -13.6% |
| Profit (loss) for the period | 9904 | €112,876 | €96,027 | -€16,849 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €112,876 | €96,027 | -€16,849 | -14.9% |
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 28 October 2026 via checked.be.