DR. C. GHYSBRECHT: 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. GHYSBRECHT
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash -€88,459
down €88,459 (-65.3%), from €135,499 to €47,040
mainly Current investments (-€250,000) and Other debts (-€2,904)
- Reserves +€143,939
up €143,939 (+133%), from €107,871 to €251,810
- Tax, wage and social debts +€17,574
up €17,574 (+71.0%), from €24,765 to €42,339
- Gross operating margin +€70,023
up €70,023 (+60.4%), from €115,988 to €186,011
- Taxes +€17,916
up €17,916 (+72.2%), from €24,806 to €42,722
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 | €140,099 | €298,707 | +€158,609 | +113% |
| Current assets | 29/58 | €140,099 | €298,707 | +€158,609 | +113% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €135,499 | €47,040 | -€88,459 | -65.3% |
| Deferred charges and accrued income | 490/1 | €4,599 | €1,667 | -€2,932 | -63.8% |
| Total equity and liabilities | 10/49 | €140,099 | €298,707 | +€158,609 | +113% |
| Equity | 10/15 | €110,371 | €254,310 | +€143,939 | +130% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €107,871 | €251,810 | +€143,939 | +133% |
| Distributable reserves | 133 | €107,871 | €251,810 | +€143,939 | +133% |
| Amounts payable | 17/49 | €29,727 | €44,397 | +€14,670 | +49.3% |
| Amounts payable within one year | 42/48 | €29,727 | €44,397 | +€14,670 | +49.3% |
| Taxes, remuneration and social security | 45 | €24,765 | €42,339 | +€17,574 | +71.0% |
| Taxes | 450/3 | €24,765 | €42,339 | +€17,574 | +71.0% |
| Other amounts payable | 47/48 | €4,962 | €2,058 | -€2,904 | -58.5% |
| Other operating charges | 640/8 | €376 | €580 | +€205 | +54.5% |
| Gross operating margin | 9900 | €115,988 | €186,011 | +€70,023 | +60.4% |
| Operating profit (loss) | 9901 | €115,613 | €185,431 | +€69,819 | +60.4% |
| Financial income | 75/76B | €135 | €1,275 | +€1,140 | +846% |
| Recurring financial income | 75 | €135 | €1,275 | +€1,140 | +846% |
| Financial charges | 65/66B | €30 | €45 | +€15 | +50.0% |
| Recurring financial charges | 65 | €30 | €45 | +€15 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | €115,717 | €186,661 | +€70,944 | +61.3% |
| Income taxes | 67/77 | €24,806 | €42,722 | +€17,916 | +72.2% |
| Profit (loss) for the period | 9904 | €90,911 | €143,939 | +€53,028 | +58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,911 | €143,939 | +€53,028 | +58.3% |
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 26 October 2026 via checked.be.