Dr. C.V. GOBIN: 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.V. GOBIN
Largest movements
- Current investments -€19,677
down €19,677 (-10.4%), from €188,899 to €169,222
- Deferred charges and accrued income -€17,148
down €17,148 (-91.9%), from €18,652 to €1,504
- Cash +€8,473
up €8,473 (+74.8%), from €11,321 to €19,794
mainly Current investments (+€19,677) and Deferred charges and accrued income (+€17,148)
- Tangible fixed assets -€6,097
down €6,097 (-23.1%), from €26,379 to €20,282
of which Furniture and vehicles: -€3,662
- Receivables within one year +€3,647
up €3,647 (+7.4%), from €49,495 to €53,142
of which Other amounts receivable: +€9,000
- Reserves -€27,368
down €27,368 (-10.1%), from €271,434 to €244,066
- Other debts -€6,326
down €6,326 (-55.2%), from €11,464 to €5,138
- Tax, wage and social debts +€4,000
up €4,000 (+228%), from €1,753 to €5,753
of which Remuneration and social security: +€4,000
- Gross operating margin -€26,428
down €26,428, from €7,949 to -€18,479
- Financial income +€2,955
up €2,955 (+1,745%), from €169 to €3,124
- Depreciation -€1,145
down €1,145 (-15.8%), from €7,242 to €6,097
- Taxes +€1,085
up €1,085 (+28.2%), from €3,850 to €4,936
- Other operating charges +€256
up €256 (+59.6%), from €430 to €687
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 | €294,747 | €263,945 | -€30,802 | -10.5% |
| Fixed assets | 21/28 | €26,379 | €20,282 | -€6,097 | -23.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €26,379 | €20,282 | -€6,097 | -23.1% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €10,528 | €8,092 | -€2,435 | -23.1% |
| Furniture and vehicles | 24 | €15,852 | €12,190 | -€3,662 | -23.1% |
| Current assets | 29/58 | €268,368 | €243,662 | -€24,705 | -9.2% |
| Amounts receivable within one year | 40/41 | €49,495 | €53,142 | +€3,647 | +7.4% |
| Trade receivables | 40 | €49,495 | €44,142 | -€5,353 | -10.8% |
| Other amounts receivable | 41 | - | €9,000 | +€9,000 | |
| Current investments | 50/53 | €188,899 | €169,222 | -€19,677 | -10.4% |
| Cash at bank and in hand | 54/58 | €11,321 | €19,794 | +€8,473 | +74.8% |
| Deferred charges and accrued income | 490/1 | €18,652 | €1,504 | -€17,148 | -91.9% |
| Total equity and liabilities | 10/49 | €294,747 | €263,945 | -€30,802 | -10.5% |
| Equity | 10/15 | €277,634 | €250,266 | -€27,368 | -9.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €271,434 | €244,066 | -€27,368 | -10.1% |
| Distributable reserves | 133 | €271,434 | €244,066 | -€27,368 | -10.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €17,113 | €13,679 | -€3,435 | -20.1% |
| Amounts payable within one year | 42/48 | €17,113 | €13,679 | -€3,435 | -20.1% |
| Trade debts | 44 | €3,895 | €2,787 | -€1,108 | -28.4% |
| Suppliers | 440/4 | €3,895 | €2,787 | -€1,108 | -28.4% |
| Taxes, remuneration and social security | 45 | €1,753 | €5,753 | +€4,000 | +228% |
| Taxes | 450/3 | €1,753 | €1,753 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €11,464 | €5,138 | -€6,326 | -55.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,242 | €6,097 | -€1,145 | -15.8% |
| Other operating charges | 640/8 | €430 | €687 | +€256 | +59.6% |
| Gross operating margin | 9900 | €7,949 | -€18,479 | -€26,428 | |
| Operating profit (loss) | 9901 | €276 | -€25,263 | -€25,540 | |
| Financial income | 75/76B | €169 | €3,124 | +€2,955 | +1,745% |
| Recurring financial income | 75 | €169 | €3,124 | +€2,955 | +1,745% |
| Financial charges | 65/66B | €240 | €293 | +€53 | +22.1% |
| Recurring financial charges | 65 | €240 | €293 | +€53 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €206 | -€22,432 | -€22,638 | |
| Income taxes | 67/77 | €3,850 | €4,936 | +€1,085 | +28.2% |
| Profit (loss) for the period | 9904 | -€3,644 | -€27,368 | -€23,723 | -651% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,644 | -€27,368 | -€23,723 | -651% |
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 13 October 2026 via checked.be.