Dr. Chris Bervoets: 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. Chris Bervoets
Largest movements
- Tangible fixed assets -€15,318
down €15,318 (-17.1%), from €89,417 to €74,099
of which Furniture and vehicles: -€13,718
- Cash +€5,098
up €5,098 (+3.5%), from €147,504 to €152,602
mainly Net result for the year (+€33,828) and Depreciation (+€29,944)
- Deferred charges and accrued income -€3,281
down €3,281 (-52.7%), from €6,225 to €2,944
- Debts after one year -€13,838
down €13,838 (-92.2%), from €15,002 to €1,164
- Reserves +€4,594
up €4,594 (+2.4%), from €194,760 to €199,353
- Tax, wage and social debts -€3,211
no longer reported in 2025 (was €3,211)
- Gross operating margin +€3,642
up €3,642 (+4.8%), from €75,262 to €78,905
- Depreciation +€2,023
up €2,023 (+7.2%), from €27,920 to €29,944
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 | €243,396 | €231,617 | -€11,779 | -4.8% |
| Fixed assets | 21/28 | €89,667 | €74,349 | -€15,318 | -17.1% |
| Tangible fixed assets | 22/27 | €89,417 | €74,099 | -€15,318 | -17.1% |
| Plant, machinery and equipment | 23 | €9,015 | €6,408 | -€2,607 | -28.9% |
| Furniture and vehicles | 24 | €56,213 | €42,495 | -€13,718 | -24.4% |
| Other tangible fixed assets | 26 | €24,189 | €25,196 | +€1,006 | +4.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €153,729 | €157,269 | +€3,540 | +2.3% |
| Amounts receivable within one year | 40/41 | - | €1,723 | +€1,723 | |
| Trade receivables | 40 | - | €363 | +€363 | |
| Other amounts receivable | 41 | - | €1,360 | +€1,360 | |
| Cash at bank and in hand | 54/58 | €147,504 | €152,602 | +€5,098 | +3.5% |
| Deferred charges and accrued income | 490/1 | €6,225 | €2,944 | -€3,281 | -52.7% |
| Total equity and liabilities | 10/49 | €243,396 | €231,617 | -€11,779 | -4.8% |
| Equity | 10/15 | €207,260 | €211,853 | +€4,594 | +2.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €194,760 | €199,353 | +€4,594 | +2.4% |
| Distributable reserves | 133 | €194,760 | €199,353 | +€4,594 | +2.4% |
| Amounts payable | 17/49 | €36,136 | €19,764 | -€16,372 | -45.3% |
| Amounts payable after more than one year | 17 | €15,002 | €1,164 | -€13,838 | -92.2% |
| Financial debts | 170/4 | €15,002 | €1,164 | -€13,838 | -92.2% |
| Amounts payable within one year | 42/48 | €21,035 | €18,599 | -€2,436 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €13,594 | €13,838 | +€244 | +1.8% |
| Trade debts | 44 | €4,123 | €3,963 | -€160 | -3.9% |
| Suppliers | 440/4 | €4,123 | €3,963 | -€160 | -3.9% |
| Taxes, remuneration and social security | 45 | €3,211 | - | -€3,211 | |
| Taxes | 450/3 | €3,211 | - | -€3,211 | |
| Other amounts payable | 47/48 | €108 | €798 | +€691 | +641% |
| Accrued charges and deferred income | 492/3 | €99 | - | -€99 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,920 | €29,944 | +€2,023 | +7.2% |
| Other operating charges | 640/8 | €1,615 | €1,710 | +€95 | +5.9% |
| Gross operating margin | 9900 | €75,262 | €78,905 | +€3,642 | +4.8% |
| Operating profit (loss) | 9901 | €45,727 | €47,251 | +€1,524 | +3.3% |
| Financial income | 75/76B | €432 | €1,161 | +€730 | +169% |
| Recurring financial income | 75 | €432 | €1,161 | +€730 | +169% |
| Financial charges | 65/66B | €852 | €596 | -€256 | -30.0% |
| Recurring financial charges | 65 | €852 | €596 | -€256 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €45,307 | €47,816 | +€2,509 | +5.5% |
| Income taxes | 67/77 | €13,340 | €13,988 | +€648 | +4.9% |
| Profit (loss) for the period | 9904 | €31,967 | €33,828 | +€1,861 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,967 | €33,828 | +€1,861 | +5.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.