DR. D. OSTIJN: 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. OSTIJN
Largest movements
- Tangible fixed assets -€78,714
down €78,714 (-9.8%), from €804,228 to €725,514
of which Land and buildings: -€45,368
- Cash +€72,961
up €72,961 (+46.7%), from €156,124 to €229,085
mainly Other debts (+€202,536) and Depreciation (+€93,724)
- Receivables within one year -€63,108
down €63,108 (-87.5%), from €72,102 to €8,994
of which Other amounts receivable: -€63,108
- Reserves -€232,785
down €232,785 (-63.4%), from €367,271 to €134,486
- Other debts +€202,536
up €202,536 (+350%), from €57,909 to €260,445
- Debts after one year -€43,990
down €43,990 (-8.2%), from €535,455 to €491,465
- Staff costs -€30,785
down €30,785 (-28.7%), from €107,117 to €76,333
- Gross operating margin +€20,289
up €20,289 (+9.2%), from €221,595 to €241,884
- Depreciation +€6,762
up €6,762 (+7.8%), from €86,962 to €93,724
- Taxes +€4,145
up €4,145 (+35.4%), from €11,711 to €15,855
- Financial income -€3,438
down €3,438 (-71.2%), from €4,829 to €1,391
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 | €1,037,927 | €966,316 | -€71,611 | -6.9% |
| Fixed assets | 21/28 | €804,247 | €725,533 | -€78,714 | -9.8% |
| Tangible fixed assets | 22/27 | €804,228 | €725,514 | -€78,714 | -9.8% |
| Land and buildings | 22 | €707,297 | €661,928 | -€45,368 | -6.4% |
| Plant, machinery and equipment | 23 | €27,112 | €20,031 | -€7,081 | -26.1% |
| Furniture and vehicles | 24 | €69,819 | €43,555 | -€26,265 | -37.6% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €233,680 | €240,784 | +€7,103 | +3.0% |
| Amounts receivable within one year | 40/41 | €72,102 | €8,994 | -€63,108 | -87.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €72,102 | €8,994 | -€63,108 | -87.5% |
| Cash at bank and in hand | 54/58 | €156,124 | €229,085 | +€72,961 | +46.7% |
| Deferred charges and accrued income | 490/1 | €5,454 | €2,705 | -€2,750 | -50.4% |
| Total equity and liabilities | 10/49 | €1,037,927 | €966,316 | -€71,611 | -6.9% |
| Equity | 10/15 | €378,839 | €146,952 | -€231,888 | -61.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €367,271 | €134,486 | -€232,785 | -63.4% |
| Distributable reserves | 133 | €367,271 | €134,486 | -€232,785 | -63.4% |
| Profit (loss) carried forward | 14 | -€832 | €66 | +€897 | |
| Amounts payable | 17/49 | €659,088 | €819,365 | +€160,277 | +24.3% |
| Amounts payable after more than one year | 17 | €535,455 | €491,465 | -€43,990 | -8.2% |
| Financial debts | 170/4 | €535,455 | €491,465 | -€43,990 | -8.2% |
| Amounts payable within one year | 42/48 | €121,194 | €327,899 | +€206,706 | +171% |
| Current portion of amounts payable after more than one year | 42 | €43,126 | €43,990 | +€864 | +2.0% |
| Financial debts | 43 | €386 | €0 | -€386 | -100% |
| Other loans | 439 | €386 | €0 | -€386 | -100% |
| Trade debts | 44 | €4,597 | €11,380 | +€6,783 | +148% |
| Suppliers | 440/4 | €4,597 | €11,380 | +€6,783 | +148% |
| Taxes, remuneration and social security | 45 | €15,176 | €12,084 | -€3,092 | -20.4% |
| Taxes | 450/3 | €5,380 | €3,890 | -€1,490 | -27.7% |
| Remuneration and social security | 454/9 | €9,796 | €8,194 | -€1,602 | -16.4% |
| Other amounts payable | 47/48 | €57,909 | €260,445 | +€202,536 | +350% |
| Accrued charges and deferred income | 492/3 | €2,439 | €0 | -€2,439 | -100% |
| Remuneration, social security and pensions | 62 | €107,117 | €76,333 | -€30,785 | -28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,962 | €93,724 | +€6,762 | +7.8% |
| Other operating charges | 640/8 | €7,884 | €5,534 | -€2,350 | -29.8% |
| Gross operating margin | 9900 | €221,595 | €241,884 | +€20,289 | +9.2% |
| Operating profit (loss) | 9901 | €19,631 | €66,293 | +€46,662 | +238% |
| Financial income | 75/76B | €4,829 | €1,391 | -€3,438 | -71.2% |
| Recurring financial income | 75 | €4,829 | €1,391 | -€3,438 | -71.2% |
| Financial charges | 65/66B | €13,581 | €12,032 | -€1,549 | -11.4% |
| Recurring financial charges | 65 | €13,581 | €12,032 | -€1,549 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €10,879 | €55,652 | +€44,773 | +412% |
| Income taxes | 67/77 | €11,711 | €15,855 | +€4,145 | +35.4% |
| Profit (loss) for the period | 9904 | -€832 | €39,797 | +€40,629 | |
| Profit (loss) for the period to be appropriated | 9905 | -€832 | €39,797 | +€40,629 |
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 19 October 2026 via checked.be.