DR DAMIEN SIEUW: what changed
DR DAMIEN SIEUW
Largest movements
- Cash +€83,894
up €83,894 (+103%), from €81,508 to €165,402
mainly Net result for the year (+€62,065) and Tax, wage and social debts (+€11,981)
- Current investments +€12,733
up €12,733 (+14.2%), from €89,704 to €102,438
- Receivables within one year -€9,242
down €9,242 (-15.2%), from €60,965 to €51,723
of which Other amounts receivable: -€9,242
- Tangible fixed assets -€5,647
down €5,647 (-25.5%), from €22,149 to €16,501
of which Furniture and vehicles: -€4,387
- Reserves +€62,065
up €62,065 (+45.8%), from €135,425 to €197,490
of which Distributable reserves: +€62,065
- Tax, wage and social debts +€11,981
up €11,981 (+788%), from €1,519 to €13,500
- Accrued charges and deferred income +€7,875
up €7,875 (+736%), from €1,069 to €8,944
- Trade debts +€4,208
up €4,208 (+60.1%), from €7,004 to €11,213
- Purchases and services -€117,622
no longer reported in 2025 (was €117,622)
- Gross operating margin +€74,930
up €74,930 (+126%), from €59,569 to €134,499
- Taxes +€19,396
up €19,396 (+191%), from €10,161 to €29,557
- Turnover -€9,824
down €9,824 (-5.6%), from €175,416 to €165,592
- Other operating charges -€2,099
down €2,099 (-84.0%), from €2,499 to €400
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 | €285,257 | €367,834 | +€82,577 | +28.9% |
| Fixed assets | 21/28 | €22,512 | €16,864 | -€5,647 | -25.1% |
| Tangible fixed assets | 22/27 | €22,149 | €16,501 | -€5,647 | -25.5% |
| Plant, machinery and equipment | 23 | €4,886 | €5,189 | +€303 | +6.2% |
| Furniture and vehicles | 24 | €10,305 | €5,919 | -€4,387 | -42.6% |
| Other tangible fixed assets | 26 | €6,957 | €5,394 | -€1,563 | -22.5% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €262,745 | €350,970 | +€88,224 | +33.6% |
| Amounts receivable within one year | 40/41 | €60,965 | €51,723 | -€9,242 | -15.2% |
| Trade receivables | 40 | €51,723 | €51,723 | -€1 | 0.0% |
| Other amounts receivable | 41 | €9,242 | - | -€9,242 | |
| Current investments | 50/53 | €89,704 | €102,438 | +€12,733 | +14.2% |
| Cash at bank and in hand | 54/58 | €81,508 | €165,402 | +€83,894 | +103% |
| Deferred charges and accrued income | 490/1 | €30,568 | €31,408 | +€839 | +2.7% |
| Total equity and liabilities | 10/49 | €285,257 | €367,834 | +€82,577 | +28.9% |
| Equity | 10/15 | €204,361 | €266,426 | +€62,065 | +30.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €135,425 | €197,490 | +€62,065 | +45.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €133,565 | €195,630 | +€62,065 | +46.5% |
| Profit (loss) carried forward | 14 | €50,336 | €50,336 | = | 0.0% |
| Amounts payable | 17/49 | €80,896 | €101,408 | +€20,512 | +25.4% |
| Amounts payable within one year | 42/48 | €79,827 | €92,464 | +€12,637 | +15.8% |
| Trade debts | 44 | €7,004 | €11,213 | +€4,208 | +60.1% |
| Suppliers | 440/4 | €7,004 | €11,213 | +€4,208 | +60.1% |
| Taxes, remuneration and social security | 45 | €1,519 | €13,500 | +€11,981 | +788% |
| Remuneration and social security | 454/9 | €1,519 | €13,500 | +€11,981 | +788% |
| Other amounts payable | 47/48 | €71,303 | €67,751 | -€3,552 | -5.0% |
| Accrued charges and deferred income | 492/3 | €1,069 | €8,944 | +€7,875 | +736% |
| Turnover | 70 | €175,416 | €165,592 | -€9,824 | -5.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €117,622 | - | -€117,622 | |
| Remuneration, social security and pensions | 62 | €33,159 | €34,849 | +€1,690 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,263 | €7,333 | +€2,070 | +39.3% |
| Other operating charges | 640/8 | €2,499 | €400 | -€2,099 | -84.0% |
| Gross operating margin | 9900 | €59,569 | €134,499 | +€74,930 | +126% |
| Operating profit (loss) | 9901 | €18,648 | €91,918 | +€73,270 | +393% |
| Financial income | 75/76B | €1,155 | €1,407 | +€252 | +21.8% |
| Recurring financial income | 75 | €1,155 | €1,407 | +€252 | +21.8% |
| Financial charges | 65/66B | €2,347 | €1,702 | -€645 | -27.5% |
| Recurring financial charges | 65 | €2,347 | €1,702 | -€645 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €17,456 | €91,622 | +€74,166 | +425% |
| Income taxes | 67/77 | €10,161 | €29,557 | +€19,396 | +191% |
| Profit (loss) for the period | 9904 | €7,295 | €62,065 | +€54,770 | +751% |
| Profit (loss) for the period to be appropriated | 9905 | €7,295 | €62,065 | +€54,770 | +751% |
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 1 November 2026 via checked.be.