Dr. Chris SIMOENS: 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 SIMOENS
Largest movements
- Cash +€216,195
up €216,195 (+136%), from €158,721 to €374,916
mainly Net result for the year (+€208,444) and Deferred charges and accrued income (+€108,923)
- Deferred charges and accrued income -€108,923
down €108,923 (-83.4%), from €130,625 to €21,702
- Reserves +€112,200
up €112,200 (+23.8%), from €472,000 to €584,200
- Tax, wage and social debts -€7,948
down €7,948 (-53.3%), from €14,926 to €6,978
of which Taxes: -€10,598
- Gross operating margin +€109,924
up €109,924 (+55.0%), from €200,019 to €309,943
- Taxes +€40,275
up €40,275 (+67.2%), from €59,926 to €100,202
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 | €500,011 | €609,156 | +€109,145 | +21.8% |
| Fixed assets | 21/28 | €8,352 | €8,577 | +€225 | +2.7% |
| Tangible fixed assets | 22/27 | €7,602 | €7,827 | +€225 | +3.0% |
| Plant, machinery and equipment | 23 | €7,243 | €5,965 | -€1,277 | -17.6% |
| Furniture and vehicles | 24 | €359 | €1,862 | +€1,502 | +418% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €491,659 | €600,579 | +€108,920 | +22.2% |
| Amounts receivable within one year | 40/41 | €2,314 | €3,962 | +€1,648 | +71.2% |
| Trade receivables | 40 | €1,951 | €3,962 | +€2,011 | +103% |
| Other amounts receivable | 41 | €363 | - | -€363 | |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €158,721 | €374,916 | +€216,195 | +136% |
| Deferred charges and accrued income | 490/1 | €130,625 | €21,702 | -€108,923 | -83.4% |
| Total equity and liabilities | 10/49 | €500,011 | €609,156 | +€109,145 | +21.8% |
| Equity | 10/15 | €485,085 | €597,329 | +€112,244 | +23.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €472,000 | €584,200 | +€112,200 | +23.8% |
| Distributable reserves | 133 | €472,000 | €584,200 | +€112,200 | +23.8% |
| Profit (loss) carried forward | 14 | €685 | €729 | +€44 | +6.4% |
| Amounts payable | 17/49 | €14,926 | €11,827 | -€3,099 | -20.8% |
| Amounts payable within one year | 42/48 | €14,926 | €11,827 | -€3,099 | -20.8% |
| Taxes, remuneration and social security | 45 | €14,926 | €6,978 | -€7,948 | -53.3% |
| Taxes | 450/3 | €14,926 | €4,328 | -€10,598 | -71.0% |
| Remuneration and social security | 454/9 | - | €2,650 | +€2,650 | |
| Other amounts payable | 47/48 | - | €4,849 | +€4,849 | |
| Non-recurring operating income | 76A | - | €13,401 | +€13,401 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,000 | €3,466 | +€466 | +15.5% |
| Other operating charges | 640/8 | €407 | €871 | +€464 | +114% |
| Gross operating margin | 9900 | €200,019 | €309,943 | +€109,924 | +55.0% |
| Operating profit (loss) | 9901 | €196,612 | €305,605 | +€108,993 | +55.4% |
| Financial income | 75/76B | €3,224 | €3,302 | +€78 | +2.4% |
| Recurring financial income | 75 | €3,224 | €3,302 | +€78 | +2.4% |
| Financial charges | 65/66B | €255 | €262 | +€7 | +2.7% |
| Recurring financial charges | 65 | €255 | €262 | +€7 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €199,581 | €308,646 | +€109,064 | +54.6% |
| Income taxes | 67/77 | €59,926 | €100,202 | +€40,275 | +67.2% |
| Profit (loss) for the period | 9904 | €139,655 | €208,444 | +€68,789 | +49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €139,655 | €208,444 | +€68,789 | +49.3% |
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 20 October 2026 via checked.be.