Dr.Daan Walgraeve: what changed
Dr.Daan Walgraeve
Largest movements
- Cash +€104,249
up €104,249 (+48.4%), from €215,497 to €319,746
mainly Other debts (+€91,855) and Net result for the year (+€88,082)
- Deferred charges and accrued income +€6,021
up €6,021 (+5.5%), from €109,581 to €115,602
- Other debts +€91,855
up €91,855 (+885%), from €10,384 to €102,239
- Tax, wage and social debts +€19,309
up €19,309 (+265%), from €7,296 to €26,605
- Trade debts -€7,009
down €7,009 (-79.1%), from €8,861 to €1,852
- Accrued charges and deferred income +€6,779
up €6,779 (+823%), from €824 to €7,603
- Gross operating margin +€21,157
up €21,157 (+18.0%), from €117,264 to €138,421
- Taxes +€7,853
up €7,853 (+24.0%), from €32,744 to €40,597
- Financial charges +€2,500
up €2,500 (+106%), from €2,354 to €4,854
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €340,939 | €448,373 | +€107,433 | +31.5% |
| Fixed assets | 21/28 | €15,861 | €13,024 | -€2,837 | -17.9% |
| Tangible fixed assets | 22/27 | €15,861 | €13,024 | -€2,837 | -17.9% |
| Land and buildings | 22 | - | €10,901 | +€10,901 | |
| Plant, machinery and equipment | 23 | €11,752 | - | -€11,752 | |
| Furniture and vehicles | 24 | €4,108 | €2,123 | -€1,985 | -48.3% |
| Current assets | 29/58 | €325,079 | €435,349 | +€110,270 | +33.9% |
| Cash at bank and in hand | 54/58 | €215,497 | €319,746 | +€104,249 | +48.4% |
| Deferred charges and accrued income | 490/1 | €109,581 | €115,602 | +€6,021 | +5.5% |
| Total equity and liabilities | 10/49 | €340,939 | €448,373 | +€107,433 | +31.5% |
| Equity | 10/15 | €313,574 | €310,074 | -€3,501 | -1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €294,974 | €291,474 | -€3,501 | -1.2% |
| Distributable reserves | 133 | €294,974 | €291,474 | -€3,501 | -1.2% |
| Amounts payable | 17/49 | €27,365 | €138,299 | +€110,934 | +405% |
| Amounts payable within one year | 42/48 | €26,541 | €130,697 | +€104,156 | +392% |
| Trade debts | 44 | €8,861 | €1,852 | -€7,009 | -79.1% |
| Suppliers | 440/4 | €8,861 | €1,852 | -€7,009 | -79.1% |
| Taxes, remuneration and social security | 45 | €7,296 | €26,605 | +€19,309 | +265% |
| Taxes | 450/3 | €7,296 | €26,605 | +€19,309 | +265% |
| Other amounts payable | 47/48 | €10,384 | €102,239 | +€91,855 | +885% |
| Accrued charges and deferred income | 492/3 | €824 | €7,603 | +€6,779 | +823% |
| Non-recurring operating income | 76A | €3,500 | - | -€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,733 | €4,029 | +€1,296 | +47.4% |
| Other operating charges | 640/8 | €996 | €860 | -€136 | -13.7% |
| Gross operating margin | 9900 | €117,264 | €138,421 | +€21,157 | +18.0% |
| Operating profit (loss) | 9901 | €113,535 | €133,532 | +€19,997 | +17.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | +400% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +400% |
| Financial charges | 65/66B | €2,354 | €4,854 | +€2,500 | +106% |
| Recurring financial charges | 65 | €2,354 | €4,854 | +€2,500 | +106% |
| Profit (loss) for the period before taxes | 9903 | €111,181 | €128,679 | +€17,498 | +15.7% |
| Income taxes | 67/77 | €32,744 | €40,597 | +€7,853 | +24.0% |
| Profit (loss) for the period | 9904 | €78,437 | €88,082 | +€9,645 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,437 | €88,082 | +€9,645 | +12.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.