Dr COLIN Cassandre: 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 COLIN Cassandre
Largest movements
- Receivables within one year +€88,717
up €88,717 (+133%), from €66,738 to €155,454
- Reserves +€89,874
up €89,874 (+85.5%), from €105,075 to €194,949
- Tax, wage and social debts -€6,050
down €6,050 (-18.6%), from €32,565 to €26,516
- Gross operating margin +€14,485
up €14,485 (+13.9%), from €104,434 to €118,919
- Taxes +€6,700
up €6,700 (+33.8%), from €19,815 to €26,516
- Financial income +€3,929
up €3,929 (+193%), from €2,036 to €5,965
- Other operating charges -€2,974
down €2,974 (-69.9%), from €4,252 to €1,279
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 | €145,047 | €230,788 | +€85,741 | +59.1% |
| Fixed assets | 21/28 | €10,280 | €8,883 | -€1,397 | -13.6% |
| Tangible fixed assets | 22/27 | €9,917 | €8,520 | -€1,397 | -14.1% |
| Furniture and vehicles | 24 | €2,100 | €2,514 | +€413 | +19.7% |
| Other tangible fixed assets | 26 | €7,817 | €6,007 | -€1,810 | -23.2% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €134,767 | €221,905 | +€87,138 | +64.7% |
| Amounts receivable within one year | 40/41 | €66,738 | €155,454 | +€88,717 | +133% |
| Other amounts receivable | 41 | €66,738 | €155,454 | +€88,717 | +133% |
| Cash at bank and in hand | 54/58 | €53,856 | €54,584 | +€729 | +1.4% |
| Deferred charges and accrued income | 490/1 | €14,174 | €11,867 | -€2,307 | -16.3% |
| Total equity and liabilities | 10/49 | €145,047 | €230,788 | +€85,741 | +59.1% |
| Equity | 10/15 | €110,075 | €199,949 | +€89,874 | +81.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €105,075 | €194,949 | +€89,874 | +85.5% |
| Distributable reserves | 133 | €105,075 | €194,949 | +€89,874 | +85.5% |
| Amounts payable | 17/49 | €34,972 | €30,840 | -€4,132 | -11.8% |
| Amounts payable within one year | 42/48 | €34,972 | €30,840 | -€4,132 | -11.8% |
| Trade debts | 44 | €2,407 | €4,324 | +€1,917 | +79.7% |
| Suppliers | 440/4 | €2,407 | €4,324 | +€1,917 | +79.7% |
| Taxes, remuneration and social security | 45 | €32,565 | €26,516 | -€6,050 | -18.6% |
| Taxes | 450/3 | €32,565 | €26,516 | -€6,050 | -18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,774 | €4,047 | +€273 | +7.2% |
| Other operating charges | 640/8 | €4,252 | €1,279 | -€2,974 | -69.9% |
| Gross operating margin | 9900 | €104,434 | €118,919 | +€14,485 | +13.9% |
| Operating profit (loss) | 9901 | €96,407 | €113,593 | +€17,186 | +17.8% |
| Financial income | 75/76B | €2,036 | €5,965 | +€3,929 | +193% |
| Recurring financial income | 75 | €2,036 | €5,965 | +€3,929 | +193% |
| Financial charges | 65/66B | €3,330 | €3,169 | -€161 | -4.8% |
| Recurring financial charges | 65 | €3,330 | €3,169 | -€161 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €95,113 | €116,389 | +€21,276 | +22.4% |
| Income taxes | 67/77 | €19,815 | €26,516 | +€6,700 | +33.8% |
| Profit (loss) for the period | 9904 | €75,298 | €89,874 | +€14,575 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,298 | €89,874 | +€14,575 | +19.4% |
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 29 October 2026 via checked.be.