DR. CALLENS DIRK: 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. CALLENS DIRK
Largest movements
- Current investments +€215,280
up €215,280 (+34.1%), from €631,204 to €846,484
- Tangible fixed assets -€38,867
down €38,867 (-5.7%), from €686,127 to €647,260
of which Land and buildings: -€38,074
- Reserves +€145,021
up €145,021 (+15.5%), from €936,312 to €1.1m
of which Distributable reserves: +€75,854
- Debts after one year -€19,494
down €19,494 (-14.3%), from €136,555 to €117,061
- Financial income +€13,553
up €13,553 (+92.3%), from €14,684 to €28,237
- Gross operating margin +€12,366
up €12,366 (+5.4%), from €227,478 to €239,844
- Financial charges +€9,186
up €9,186 (+49.1%), from €18,698 to €27,884
- Taxes -€7,763
down €7,763 (-12.9%), from €60,196 to €52,433
- Depreciation +€6,142
up €6,142 (+18.8%), from €32,725 to €38,867
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 | €1,445,154 | €1,590,967 | +€145,813 | +10.1% |
| Fixed assets | 21/28 | €686,127 | €647,260 | -€38,867 | -5.7% |
| Tangible fixed assets | 22/27 | €686,127 | €647,260 | -€38,867 | -5.7% |
| Land and buildings | 22 | €684,674 | €646,599 | -€38,074 | -5.6% |
| Plant, machinery and equipment | 23 | €82 | - | -€82 | |
| Furniture and vehicles | 24 | €1,372 | €661 | -€711 | -51.8% |
| Current assets | 29/58 | €759,026 | €943,707 | +€184,680 | +24.3% |
| Amounts receivable within one year | 40/41 | €15,608 | €4,210 | -€11,398 | -73.0% |
| Trade receivables | 40 | €50 | €50 | = | 0.0% |
| Other amounts receivable | 41 | €15,558 | €4,160 | -€11,398 | -73.3% |
| Current investments | 50/53 | €631,204 | €846,484 | +€215,280 | +34.1% |
| Cash at bank and in hand | 54/58 | €94,520 | €80,913 | -€13,607 | -14.4% |
| Deferred charges and accrued income | 490/1 | €17,695 | €12,100 | -€5,595 | -31.6% |
| Total equity and liabilities | 10/49 | €1,445,154 | €1,590,967 | +€145,813 | +10.1% |
| Equity | 10/15 | €954,912 | €1,099,933 | +€145,021 | +15.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €936,312 | €1,081,333 | +€145,021 | +15.5% |
| Tax-exempt reserves | 132 | €140,938 | €210,105 | +€69,166 | +49.1% |
| Distributable reserves | 133 | €795,374 | €871,228 | +€75,854 | +9.5% |
| Provisions and deferred taxes | 16 | €12,980 | €12,179 | -€801 | -6.2% |
| Deferred taxes | 168 | €12,980 | €12,179 | -€801 | -6.2% |
| Amounts payable | 17/49 | €477,261 | €478,855 | +€1,594 | +0.3% |
| Amounts payable after more than one year | 17 | €136,555 | €117,061 | -€19,494 | -14.3% |
| Financial debts | 170/4 | €136,555 | €117,061 | -€19,494 | -14.3% |
| Amounts payable within one year | 42/48 | €335,997 | €341,367 | +€5,370 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €19,071 | €19,494 | +€423 | +2.2% |
| Trade debts | 44 | €975 | €11,749 | +€10,774 | +1,104% |
| Suppliers | 440/4 | €975 | €11,749 | +€10,774 | +1,104% |
| Taxes, remuneration and social security | 45 | €30,165 | €22,906 | -€7,258 | -24.1% |
| Taxes | 450/3 | €23,426 | €22,906 | -€520 | -2.2% |
| Remuneration and social security | 454/9 | €6,738 | - | -€6,738 | |
| Other amounts payable | 47/48 | €285,786 | €287,218 | +€1,431 | +0.5% |
| Accrued charges and deferred income | 492/3 | €4,709 | €20,427 | +€15,718 | +334% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,725 | €38,867 | +€6,142 | +18.8% |
| Other operating charges | 640/8 | €6,472 | €4,677 | -€1,795 | -27.7% |
| Gross operating margin | 9900 | €227,478 | €239,844 | +€12,366 | +5.4% |
| Operating profit (loss) | 9901 | €188,281 | €196,300 | +€8,019 | +4.3% |
| Financial income | 75/76B | €14,684 | €28,237 | +€13,553 | +92.3% |
| Recurring financial income | 75 | €14,684 | €28,237 | +€13,553 | +92.3% |
| Financial charges | 65/66B | €18,698 | €27,884 | +€9,186 | +49.1% |
| Recurring financial charges | 65 | €18,698 | €27,884 | +€9,186 | +49.1% |
| Profit (loss) for the period before taxes | 9903 | €184,266 | €196,653 | +€12,386 | +6.7% |
| Transfer from deferred taxes | 780 | €801 | €801 | = | 0.0% |
| Income taxes | 67/77 | €60,196 | €52,433 | -€7,763 | -12.9% |
| Profit (loss) for the period | 9904 | €124,871 | €145,021 | +€20,150 | +16.1% |
| Transfer from tax-exempt reserves | 789 | €61,344 | €2,404 | -€58,940 | -96.1% |
| Transfer to tax-exempt reserves | 689 | - | €71,570 | +€71,570 | |
| Profit (loss) for the period to be appropriated | 9905 | €186,215 | €75,854 | -€110,360 | -59.3% |
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 30 October 2026 via checked.be.