Dr Daan Van Olmen: 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 Daan Van Olmen
Largest movements
- Cash +€201,486
up €201,486 (+609%), from €33,076 to €234,562
mainly Net result for the year (+€244,439) and Tax, wage and social debts (+€77,497)
- Receivables within one year +€65,300
up €65,300 (+247%), from €26,400 to €91,700
- Current investments +€59,000
new in 2025: €59,000
- Tangible fixed assets -€11,820
down €11,820 (-13.4%), from €87,923 to €76,103
of which Furniture and vehicles: -€10,601
- Reserves +€244,439
up €244,439 (+508%), from €48,090 to €292,530
- Tax, wage and social debts +€77,497
up €77,497 (+616%), from €12,585 to €90,082
- Debts after one year -€21,210
down €21,210 (-33.3%), from €63,615 to €42,404
- Other debts +€9,780
up €9,780 (+2,291%), from €427 to €10,207
- Gross operating margin +€278,750
up €278,750 (+427%), from €65,223 to €343,973
- Taxes +€64,912
up €64,912 (+516%), from €12,585 to €77,497
- Depreciation +€16,411
up €16,411 (+510%), from €3,219 to €19,630
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 | €150,419 | €463,073 | +€312,654 | +208% |
| Fixed assets | 21/28 | €87,923 | €76,103 | -€11,820 | -13.4% |
| Tangible fixed assets | 22/27 | €87,923 | €76,103 | -€11,820 | -13.4% |
| Plant, machinery and equipment | 23 | €4,968 | €3,749 | -€1,219 | -24.5% |
| Furniture and vehicles | 24 | €82,954 | €72,354 | -€10,601 | -12.8% |
| Current assets | 29/58 | €62,496 | €386,970 | +€324,474 | +519% |
| Amounts receivable after more than one year | 29 | €3,000 | - | -€3,000 | |
| Other amounts receivable | 291 | €3,000 | - | -€3,000 | |
| Amounts receivable within one year | 40/41 | €26,400 | €91,700 | +€65,300 | +247% |
| Trade receivables | 40 | €26,400 | €91,700 | +€65,300 | +247% |
| Current investments | 50/53 | - | €59,000 | +€59,000 | |
| Cash at bank and in hand | 54/58 | €33,076 | €234,562 | +€201,486 | +609% |
| Deferred charges and accrued income | 490/1 | €20 | €1,709 | +€1,689 | +8,443% |
| Total equity and liabilities | 10/49 | €150,419 | €463,073 | +€312,654 | +208% |
| Equity | 10/15 | €53,090 | €297,530 | +€244,439 | +460% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €48,090 | €292,530 | +€244,439 | +508% |
| Distributable reserves | 133 | €48,090 | €292,530 | +€244,439 | +508% |
| Amounts payable | 17/49 | €97,328 | €165,543 | +€68,215 | +70.1% |
| Amounts payable after more than one year | 17 | €63,615 | €42,404 | -€21,210 | -33.3% |
| Financial debts | 170/4 | €63,615 | €42,404 | -€21,210 | -33.3% |
| Amounts payable within one year | 42/48 | €33,714 | €123,139 | +€89,425 | +265% |
| Current portion of amounts payable after more than one year | 42 | €20,607 | €21,210 | +€603 | +2.9% |
| Trade debts | 44 | €95 | €1,640 | +€1,545 | +1,620% |
| Suppliers | 440/4 | €95 | €1,640 | +€1,545 | +1,620% |
| Taxes, remuneration and social security | 45 | €12,585 | €90,082 | +€77,497 | +616% |
| Taxes | 450/3 | €12,585 | €90,082 | +€77,497 | +616% |
| Other amounts payable | 47/48 | €427 | €10,207 | +€9,780 | +2,291% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,219 | €19,630 | +€16,411 | +510% |
| Other operating charges | 640/8 | €1,010 | €306 | -€704 | -69.7% |
| Gross operating margin | 9900 | €65,223 | €343,973 | +€278,750 | +427% |
| Operating profit (loss) | 9901 | €60,994 | €324,038 | +€263,043 | +431% |
| Financial income | 75/76B | €38 | €98 | +€60 | +161% |
| Recurring financial income | 75 | €38 | €98 | +€60 | +161% |
| Financial charges | 65/66B | €357 | €2,200 | +€1,843 | +516% |
| Recurring financial charges | 65 | €357 | €2,200 | +€1,843 | +516% |
| Profit (loss) for the period before taxes | 9903 | €60,675 | €321,936 | +€261,261 | +431% |
| Income taxes | 67/77 | €12,585 | €77,497 | +€64,912 | +516% |
| Profit (loss) for the period | 9904 | €48,090 | €244,439 | +€196,349 | +408% |
| Profit (loss) for the period to be appropriated | 9905 | €48,090 | €244,439 | +€196,349 | +408% |
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.