Dr. Christophe Vanclooster: what changed
Dr. Christophe Vanclooster
Largest movements
- Current investments -€315,845
down €315,845 (-19.6%), from €1.6m to €1.3m
- Cash -€116,567
down €116,567 (-68.9%), from €169,099 to €52,532
mainly Contributions, distributions and other (-€806,842) and Other debts (-€78,595)
- Tangible fixed assets -€34,608
down €34,608 (-19.8%), from €174,860 to €140,253
of which Furniture and vehicles: -€24,085
- Reserves -€421,343
down €421,343 (-25.5%), from €1.7m to €1.2m
of which Distributable reserves: -€421,343
- Other debts -€78,595
down €78,595 (-32.3%), from €243,069 to €164,474
- Tax, wage and social debts +€23,395
up €23,395 (+184%), from €12,704 to €36,098
of which Taxes: +€23,395
- Financial income +€165,655
up €165,655 (+894%), from €18,530 to €184,185
- Taxes +€53,141
up €53,141 (+48.7%), from €109,127 to €162,268
- Gross operating margin +€36,634
up €36,634 (+9.6%), from €381,111 to €417,744
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,964,935 | €1,493,153 | -€471,782 | -24.0% |
| Fixed assets | 21/28 | €174,860 | €140,253 | -€34,608 | -19.8% |
| Tangible fixed assets | 22/27 | €174,860 | €140,253 | -€34,608 | -19.8% |
| Land and buildings | 22 | €104,052 | €96,447 | -€7,606 | -7.3% |
| Plant, machinery and equipment | 23 | €23,606 | €20,689 | -€2,917 | -12.4% |
| Furniture and vehicles | 24 | €47,201 | €23,116 | -€24,085 | -51.0% |
| Current assets | 29/58 | €1,790,075 | €1,352,901 | -€437,174 | -24.4% |
| Current investments | 50/53 | €1,613,501 | €1,297,656 | -€315,845 | -19.6% |
| Cash at bank and in hand | 54/58 | €169,099 | €52,532 | -€116,567 | -68.9% |
| Deferred charges and accrued income | 490/1 | €7,475 | €2,713 | -€4,762 | -63.7% |
| Total equity and liabilities | 10/49 | €1,964,935 | €1,493,153 | -€471,782 | -24.0% |
| Equity | 10/15 | €1,667,443 | €1,246,100 | -€421,343 | -25.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,655,043 | €1,233,700 | -€421,343 | -25.5% |
| Tax-exempt reserves | 132 | €4,798 | €4,798 | = | 0.0% |
| Distributable reserves | 133 | €1,650,245 | €1,228,902 | -€421,343 | -25.5% |
| Amounts payable | 17/49 | €297,492 | €247,053 | -€50,439 | -17.0% |
| Amounts payable within one year | 42/48 | €289,141 | €240,764 | -€48,377 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €27,046 | €26,913 | -€133 | -0.5% |
| Trade debts | 44 | €6,323 | €13,279 | +€6,956 | +110% |
| Suppliers | 440/4 | €6,323 | €13,279 | +€6,956 | +110% |
| Taxes, remuneration and social security | 45 | €12,704 | €36,098 | +€23,395 | +184% |
| Taxes | 450/3 | €9,834 | €33,228 | +€23,395 | +238% |
| Remuneration and social security | 454/9 | €2,870 | €2,870 | = | 0.0% |
| Other amounts payable | 47/48 | €243,069 | €164,474 | -€78,595 | -32.3% |
| Accrued charges and deferred income | 492/3 | €8,351 | €6,289 | -€2,062 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,466 | €39,602 | +€136 | +0.3% |
| Other operating charges | 640/8 | €4,718 | €3,876 | -€842 | -17.8% |
| Gross operating margin | 9900 | €381,111 | €417,744 | +€36,634 | +9.6% |
| Operating profit (loss) | 9901 | €336,927 | €374,267 | +€37,340 | +11.1% |
| Financial income | 75/76B | €18,530 | €184,185 | +€165,655 | +894% |
| Recurring financial income | 75 | €18,530 | €184,185 | +€165,655 | +894% |
| Financial charges | 65/66B | €11,453 | €10,685 | -€768 | -6.7% |
| Recurring financial charges | 65 | €11,453 | €10,685 | -€768 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €344,003 | €547,767 | +€203,763 | +59.2% |
| Income taxes | 67/77 | €109,127 | €162,268 | +€53,141 | +48.7% |
| Profit (loss) for the period | 9904 | €234,876 | €385,499 | +€150,623 | +64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €234,876 | €385,499 | +€150,623 | +64.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.