DR. D. D'HERDE: 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. D. D'HERDE
Largest movements
- Current investments +€38,099
up €38,099 (+2.0%), from €1.9m to €1.9m
No liability line moved by more than 1% of the balance sheet total.
- Taxes +€12,217
up €12,217 (+138%), from €8,865 to €21,082
- Gross operating margin -€8,170
down €8,170 (-12.4%), from €65,942 to €57,772
- Other operating charges +€1,350
up €1,350 (+23.0%), from €5,870 to €7,220
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 | €3,621,786 | €3,662,455 | +€40,669 | +1.1% |
| Fixed assets | 21/28 | €1,712,578 | €1,712,578 | = | 0.0% |
| Tangible fixed assets | 22/27 | €1,712,578 | €1,712,578 | = | 0.0% |
| Land and buildings | 22 | €1,712,578 | €1,712,578 | = | 0.0% |
| Current assets | 29/58 | €1,909,208 | €1,949,877 | +€40,669 | +2.1% |
| Amounts receivable within one year | 40/41 | €2,447 | €2,447 | = | 0.0% |
| Other amounts receivable | 41 | €2,447 | €2,447 | = | 0.0% |
| Current investments | 50/53 | €1,894,044 | €1,932,143 | +€38,099 | +2.0% |
| Cash at bank and in hand | 54/58 | €12,717 | €15,287 | +€2,570 | +20.2% |
| Total equity and liabilities | 10/49 | €3,621,786 | €3,662,455 | +€40,669 | +1.1% |
| Equity | 10/15 | €3,621,786 | €3,651,257 | +€29,471 | +0.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | - | -€25,000 | |
| Issued capital | 100 | €25,000 | - | -€25,000 | |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Legal reserve | 130 | €2,500 | - | -€2,500 | |
| Reserves not available under the articles | 1311 | - | €2,500 | +€2,500 | |
| Profit (loss) carried forward | 14 | €3,594,286 | €3,623,757 | +€29,471 | +0.8% |
| Amounts payable | 17/49 | - | €11,198 | +€11,198 | |
| Amounts payable within one year | 42/48 | - | €11,198 | +€11,198 | |
| Taxes, remuneration and social security | 45 | - | €11,198 | +€11,198 | |
| Taxes | 450/3 | - | €11,198 | +€11,198 | |
| Other operating charges | 640/8 | €5,870 | €7,220 | +€1,350 | +23.0% |
| Gross operating margin | 9900 | €65,942 | €57,772 | -€8,170 | -12.4% |
| Operating profit (loss) | 9901 | €60,072 | €50,553 | -€9,520 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €60,072 | €50,553 | -€9,520 | -15.8% |
| Income taxes | 67/77 | €8,865 | €21,082 | +€12,217 | +138% |
| Profit (loss) for the period | 9904 | €51,207 | €29,471 | -€21,736 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,207 | €29,471 | -€21,736 | -42.4% |
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 21 October 2026 via checked.be.