DR. CAERTS B.: 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. CAERTS B.
Largest movements
- Cash +€51,228
up €51,228 (+21.6%), from €236,911 to €288,139
mainly Net result for the year (+€104,320) and Deferred charges and accrued income (+€24,692)
- Tangible fixed assets -€27,391
down €27,391 (-38.5%), from €71,069 to €43,678
of which Furniture and vehicles: -€19,710
- Deferred charges and accrued income -€24,692
down €24,692 (-26.3%), from €93,806 to €69,114
- Receivables within one year +€17,999
up €17,999, from €0 to €17,999
of which Other amounts receivable: +€10,069
- Reserves +€104,320
new in 2025: €104,320
- Other debts -€62,235
down €62,235 (-18.0%), from €345,799 to €283,564
- Tax, wage and social debts -€17,125
down €17,125 (-60.1%), from €28,472 to €11,347
- Trade debts -€7,816
down €7,816 (-87.7%), from €8,915 to €1,099
- Gross operating margin -€153,018
down €153,018 (-46.2%), from €331,135 to €178,117
- Taxes -€27,889
down €27,889 (-37.9%), from €73,543 to €45,655
- Staff costs -€4,025
no longer reported in 2025 (was €4,025)
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.
Cash bridge derived
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 | €401,786 | €418,930 | +€17,144 | +4.3% |
| Fixed assets | 21/28 | €71,069 | €43,678 | -€27,391 | -38.5% |
| Tangible fixed assets | 22/27 | €71,069 | €43,678 | -€27,391 | -38.5% |
| Land and buildings | 22 | €9,649 | €5,136 | -€4,513 | -46.8% |
| Plant, machinery and equipment | 23 | €4,497 | €1,328 | -€3,168 | -70.5% |
| Furniture and vehicles | 24 | €56,924 | €37,214 | -€19,710 | -34.6% |
| Current assets | 29/58 | €330,717 | €375,252 | +€44,535 | +13.5% |
| Amounts receivable within one year | 40/41 | €0 | €17,999 | +€17,999 | |
| Trade receivables | 40 | €0 | €7,930 | +€7,930 | |
| Other amounts receivable | 41 | €0 | €10,069 | +€10,069 | |
| Cash at bank and in hand | 54/58 | €236,911 | €288,139 | +€51,228 | +21.6% |
| Deferred charges and accrued income | 490/1 | €93,806 | €69,114 | -€24,692 | -26.3% |
| Total equity and liabilities | 10/49 | €401,786 | €418,930 | +€17,144 | +4.3% |
| Equity | 10/15 | €18,600 | €122,920 | +€104,320 | +560.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €104,320 | +€104,320 | |
| Distributable reserves | 133 | - | €104,320 | +€104,320 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €383,186 | €296,010 | -€87,175 | -22.8% |
| Amounts payable within one year | 42/48 | €383,186 | €296,010 | -€87,175 | -22.8% |
| Trade debts | 44 | €8,915 | €1,099 | -€7,816 | -87.7% |
| Suppliers | 440/4 | €8,915 | €1,099 | -€7,816 | -87.7% |
| Taxes, remuneration and social security | 45 | €28,472 | €11,347 | -€17,125 | -60.1% |
| Taxes | 450/3 | €28,472 | €11,347 | -€17,125 | -60.1% |
| Other amounts payable | 47/48 | €345,799 | €283,564 | -€62,235 | -18.0% |
| Remuneration, social security and pensions | 62 | €4,025 | - | -€4,025 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,579 | €24,050 | -€1,529 | -6.0% |
| Other operating charges | 640/8 | €993 | €1,378 | +€385 | +38.8% |
| Non-recurring operating charges | 66A | - | €3,341 | +€3,341 | |
| Gross operating margin | 9900 | €331,135 | €178,117 | -€153,018 | -46.2% |
| Operating profit (loss) | 9901 | €300,538 | €149,348 | -€151,190 | -50.3% |
| Financial income | 75/76B | €247 | €975 | +€728 | +295.4% |
| Recurring financial income | 75 | €247 | €975 | +€728 | +295.4% |
| Financial charges | 65/66B | €883 | €349 | -€534 | -60.5% |
| Recurring financial charges | 65 | €883 | €349 | -€534 | -60.5% |
| Profit (loss) for the period before taxes | 9903 | €299,902 | €149,974 | -€149,928 | -50.0% |
| Income taxes | 67/77 | €73,543 | €45,655 | -€27,889 | -37.9% |
| Profit (loss) for the period | 9904 | €226,359 | €104,320 | -€122,039 | -53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €226,359 | €104,320 | -€122,039 | -53.9% |
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 11 October 2026 via checked.be.