DR. D. FRANS: 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. FRANS
Largest movements
- Cash +€46,865
up €46,865 (+246.9%), from €18,981 to €65,846
mainly Net result for the year (+€49,525) and Depreciation (+€22,610)
- Tangible fixed assets -€20,344
down €20,344 (-14.0%), from €144,840 to €124,496
of which Land and buildings: -€15,608
- Current investments +€13,566
up €13,566 (+8.4%), from €160,636 to €174,202
- Reserves +€49,525
up €49,525 (+16.6%), from €298,565 to €348,090
of which Distributable reserves: +€49,525
- Other debts -€8,556
down €8,556 (-45.3%), from €18,883 to €10,327
- Gross operating margin -€12,931
down €12,931 (-12.3%), from €105,403 to €92,472
- Financial income +€5,429
up €5,429 (+136.8%), from €3,970 to €9,399
- Taxes -€2,322
down €2,322 (-8.7%), from €26,678 to €24,356
- Financial charges +€1,542
up €1,542 (+2965.4%), from €52 to €1,594
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 | €334,866 | €377,102 | +€42,236 | +12.6% |
| Fixed assets | 21/28 | €146,580 | €126,236 | -€20,344 | -13.9% |
| Tangible fixed assets | 22/27 | €144,840 | €124,496 | -€20,344 | -14.0% |
| Land and buildings | 22 | €108,906 | €93,298 | -€15,608 | -14.3% |
| Plant, machinery and equipment | 23 | €3,156 | €3,046 | -€110 | -3.5% |
| Furniture and vehicles | 24 | €4,658 | €4,401 | -€257 | -5.5% |
| Other tangible fixed assets | 26 | €28,120 | €23,751 | -€4,369 | -15.5% |
| Financial fixed assets | 28 | €1,740 | €1,740 | = | 0.0% |
| Current assets | 29/58 | €188,286 | €250,866 | +€62,580 | +33.2% |
| Amounts receivable within one year | 40/41 | €675 | €1,772 | +€1,097 | +162.5% |
| Trade receivables | 40 | €675 | €485 | -€190 | -28.1% |
| Other amounts receivable | 41 | - | €1,287 | +€1,287 | |
| Current investments | 50/53 | €160,636 | €174,202 | +€13,566 | +8.4% |
| Cash at bank and in hand | 54/58 | €18,981 | €65,846 | +€46,865 | +246.9% |
| Deferred charges and accrued income | 490/1 | €7,994 | €9,046 | +€1,052 | +13.2% |
| Total equity and liabilities | 10/49 | €334,866 | €377,102 | +€42,236 | +12.6% |
| Equity | 10/15 | €310,965 | €360,490 | +€49,525 | +15.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €298,565 | €348,090 | +€49,525 | +16.6% |
| Tax-exempt reserves | 132 | €631 | €631 | = | 0.0% |
| Distributable reserves | 133 | €297,934 | €347,459 | +€49,525 | +16.6% |
| Amounts payable | 17/49 | €23,901 | €16,612 | -€7,289 | -30.5% |
| Amounts payable within one year | 42/48 | €22,668 | €12,555 | -€10,113 | -44.6% |
| Taxes, remuneration and social security | 45 | €3,785 | €2,228 | -€1,557 | -41.1% |
| Taxes | 450/3 | €3,785 | - | -€3,785 | |
| Remuneration and social security | 454/9 | - | €2,228 | +€2,228 | |
| Other amounts payable | 47/48 | €18,883 | €10,327 | -€8,556 | -45.3% |
| Accrued charges and deferred income | 492/3 | €1,233 | €4,057 | +€2,824 | +229.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,720 | €22,610 | -€110 | -0.5% |
| Other operating charges | 640/8 | €3,893 | €3,786 | -€107 | -2.7% |
| Gross operating margin | 9900 | €105,403 | €92,472 | -€12,931 | -12.3% |
| Operating profit (loss) | 9901 | €78,790 | €66,076 | -€12,714 | -16.1% |
| Financial income | 75/76B | €3,970 | €9,399 | +€5,429 | +136.8% |
| Recurring financial income | 75 | €3,970 | €9,399 | +€5,429 | +136.8% |
| Financial charges | 65/66B | €52 | €1,594 | +€1,542 | +2965.4% |
| Recurring financial charges | 65 | €52 | €1,594 | +€1,542 | +2965.4% |
| Profit (loss) for the period before taxes | 9903 | €82,708 | €73,881 | -€8,827 | -10.7% |
| Income taxes | 67/77 | €26,678 | €24,356 | -€2,322 | -8.7% |
| Profit (loss) for the period | 9904 | €56,030 | €49,525 | -€6,505 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,030 | €49,525 | -€6,505 | -11.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.