DR. D. DE CLEEN: what changed
Two fiscal 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. DE CLEEN
Largest movements
- Cash -€22,920
down €22,920 (-13.9%), from €165,292 to €142,372
mainly Contributions, distributions and other (-€150,246) and Debts after one year (-€51,490)
- Debts after one year -€51,490
down €51,490 (-17.6%), from €292,631 to €241,141
- Reserves +€14,804
up €14,804 (+1.7%), from €867,936 to €882,740
of which Distributable reserves: +€14,804
- Gross operating margin +€44,281
up €44,281 (+18.2%), from €243,642 to €287,923
- Taxes +€18,595
up €18,595 (+35.9%), from €51,864 to €70,459
- Depreciation -€14,318
down €14,318 (-27.2%), from €52,582 to €38,263
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.
Cash bridge derived
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 | €1,245,999 | €1,213,943 | -€32,056 | -2.6% |
| Fixed assets | 21/28 | €701,594 | €689,687 | -€11,907 | -1.7% |
| Tangible fixed assets | 22/27 | €696,531 | €684,624 | -€11,907 | -1.7% |
| Land and buildings | 22 | €644,020 | €652,607 | +€8,587 | +1.3% |
| Furniture and vehicles | 24 | €52,511 | €32,017 | -€20,494 | -39.0% |
| Financial fixed assets | 28 | €5,063 | €5,063 | = | 0.0% |
| Current assets | 29/58 | €544,405 | €524,256 | -€20,149 | -3.7% |
| Amounts receivable within one year | 40/41 | €8,932 | €24 | -€8,908 | -99.7% |
| Other amounts receivable | 41 | €8,932 | €24 | -€8,908 | -99.7% |
| Current investments | 50/53 | €366,856 | €377,841 | +€10,985 | +3.0% |
| Cash at bank and in hand | 54/58 | €165,292 | €142,372 | -€22,920 | -13.9% |
| Deferred charges and accrued income | 490/1 | €3,325 | €4,018 | +€694 | +20.9% |
| Total equity and liabilities | 10/49 | €1,245,999 | €1,213,943 | -€32,056 | -2.6% |
| Equity | 10/15 | €880,336 | €895,140 | +€14,804 | +1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €867,936 | €882,740 | +€14,804 | +1.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €22,891 | €22,891 | = | 0.0% |
| Distributable reserves | 133 | €845,045 | €859,849 | +€14,804 | +1.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €365,662 | €318,803 | -€46,860 | -12.8% |
| Amounts payable after more than one year | 17 | €292,631 | €241,141 | -€51,490 | -17.6% |
| Financial debts | 170/4 | €292,631 | €241,141 | -€51,490 | -17.6% |
| Amounts payable within one year | 42/48 | €66,099 | €68,714 | +€2,615 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €49,740 | €51,490 | +€1,750 | +3.5% |
| Trade debts | 44 | €2,213 | €3,830 | +€1,617 | +73.1% |
| Suppliers | 440/4 | €2,213 | €3,830 | +€1,617 | +73.1% |
| Taxes, remuneration and social security | 45 | €10,050 | €10,050 | = | 0.0% |
| Taxes | 450/3 | €10,050 | €10,050 | = | 0.0% |
| Other amounts payable | 47/48 | €4,096 | €3,344 | -€752 | -18.4% |
| Accrued charges and deferred income | 492/3 | €6,932 | €8,948 | +€2,015 | +29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,582 | €38,263 | -€14,318 | -27.2% |
| Other operating charges | 640/8 | €3,016 | €3,150 | +€135 | +4.5% |
| Gross operating margin | 9900 | €243,642 | €287,923 | +€44,281 | +18.2% |
| Operating profit (loss) | 9901 | €188,045 | €246,510 | +€58,464 | +31.1% |
| Financial income | 75/76B | €2,765 | €2,533 | -€232 | -8.4% |
| Recurring financial income | 75 | €2,765 | €2,533 | -€232 | -8.4% |
| Financial charges | 65/66B | €14,399 | €13,533 | -€866 | -6.0% |
| Recurring financial charges | 65 | €14,399 | €13,533 | -€866 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €176,411 | €235,509 | +€59,098 | +33.5% |
| Income taxes | 67/77 | €51,864 | €70,459 | +€18,595 | +35.9% |
| Profit (loss) for the period | 9904 | €124,547 | €165,050 | +€40,503 | +32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €124,547 | €165,050 | +€40,503 | +32.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.