Dr. D. VANWALLEGHEM: 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. VANWALLEGHEM
Largest movements
- Cash +€235,474
up €235,474 (+53.8%), from €437,341 to €672,815
mainly Net result for the year (+€193,513) and Current investments (+€100,000)
- Current investments -€100,000
down €100,000 (-33.3%), from €300,000 to €200,000
- Tangible fixed assets -€13,031
down €13,031 (-21.9%), from €59,529 to €46,498
of which Plant, machinery and equipment: -€11,942
- Reserves +€130,084
up €130,084 (+17.1%), from €761,426 to €891,510
of which Distributable reserves: +€130,084
- Financial income +€12,000
up €12,000, from €0 to €12,000
- Taxes +€4,249
up €4,249 (+5.2%), from €81,518 to €85,766
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 | €822,614 | €946,171 | +€123,558 | +15.0% |
| Fixed assets | 21/28 | €61,404 | €48,373 | -€13,031 | -21.2% |
| Tangible fixed assets | 22/27 | €59,529 | €46,498 | -€13,031 | -21.9% |
| Plant, machinery and equipment | 23 | €22,975 | €11,033 | -€11,942 | -52.0% |
| Furniture and vehicles | 24 | €36,555 | €28,165 | -€8,390 | -23.0% |
| Other tangible fixed assets | 26 | - | €7,300 | +€7,300 | |
| Financial fixed assets | 28 | €1,875 | €1,875 | = | 0.0% |
| Current assets | 29/58 | €761,209 | €897,798 | +€136,589 | +17.9% |
| Amounts receivable within one year | 40/41 | €13,077 | €13,345 | +€268 | +2.1% |
| Trade receivables | 40 | €13,077 | €6,332 | -€6,745 | -51.6% |
| Other amounts receivable | 41 | €0 | €7,013 | +€7,013 | |
| Current investments | 50/53 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Cash at bank and in hand | 54/58 | €437,341 | €672,815 | +€235,474 | +53.8% |
| Deferred charges and accrued income | 490/1 | €10,791 | €11,638 | +€847 | +7.8% |
| Total equity and liabilities | 10/49 | €822,614 | €946,171 | +€123,558 | +15.0% |
| Equity | 10/15 | €782,239 | €912,323 | +€130,084 | +16.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €761,426 | €891,510 | +€130,084 | +17.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €761,426 | €891,510 | +€130,084 | +17.1% |
| Profit (loss) carried forward | 14 | €2,213 | €2,213 | = | 0.0% |
| Amounts payable | 17/49 | €40,374 | €33,848 | -€6,526 | -16.2% |
| Amounts payable within one year | 42/48 | €40,216 | €33,564 | -€6,653 | -16.5% |
| Trade debts | 44 | €6,710 | €214 | -€6,496 | -96.8% |
| Suppliers | 440/4 | €6,710 | €214 | -€6,496 | -96.8% |
| Taxes, remuneration and social security | 45 | €26,645 | €25,108 | -€1,537 | -5.8% |
| Taxes | 450/3 | €26,645 | €25,108 | -€1,537 | -5.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,861 | €8,242 | +€1,380 | +20.1% |
| Accrued charges and deferred income | 492/3 | €158 | €285 | +€127 | +80.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,707 | €15,800 | +€93 | +0.6% |
| Other operating charges | 640/8 | €270 | €834 | +€563 | +208% |
| Gross operating margin | 9900 | €286,658 | €284,500 | -€2,159 | -0.8% |
| Operating profit (loss) | 9901 | €270,681 | €267,866 | -€2,815 | -1.0% |
| Financial income | 75/76B | €0 | €12,000 | +€12,000 | |
| Recurring financial income | 75 | €0 | €12,000 | +€12,000 | |
| Financial charges | 65/66B | €463 | €587 | +€123 | +26.6% |
| Recurring financial charges | 65 | €463 | €587 | +€123 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €270,218 | €279,280 | +€9,061 | +3.4% |
| Income taxes | 67/77 | €81,518 | €85,766 | +€4,249 | +5.2% |
| Profit (loss) for the period | 9904 | €188,700 | €193,513 | +€4,813 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €188,700 | €193,513 | +€4,813 | +2.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.