Dr. DAVID REYNDERS: 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. DAVID REYNDERS
Largest movements
- Cash +€133,087
up €133,087 (+95.9%), from €138,721 to €271,808
mainly Deferred charges and accrued income (+€92,986) and Tax, wage and social debts (+€89,028)
- Deferred charges and accrued income -€92,986
down €92,986 (-70.5%), from €131,861 to €38,875
- Receivables within one year +€55,388
up €55,388 (+197%), from €28,062 to €83,450
of which Other amounts receivable: +€54,290
- Current investments +€36,371
up €36,371 (+33.2%), from €109,402 to €145,774
- Tangible fixed assets -€28,165
down €28,165 (-3.3%), from €858,760 to €830,595
of which Land and buildings: -€28,057
- Tax, wage and social debts +€89,028
up €89,028 (+59.6%), from €149,353 to €238,381
- Reserves +€53,940
up €53,940 (+9.6%), from €564,257 to €618,197
- Debts after one year -€48,165
down €48,165 (-10.2%), from €472,271 to €424,106
- Taxes +€64,228
up €64,228 (+106%), from €60,745 to €124,973
- Gross operating margin -€14,883
down €14,883 (-5.7%), from €260,658 to €245,775
- Financial charges +€10,323
up €10,323 (+48.3%), from €21,387 to €31,709
- Other operating charges -€5,427
down €5,427 (-49.3%), from €11,013 to €5,586
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,266,805 | €1,370,500 | +€103,695 | +8.2% |
| Fixed assets | 21/28 | €858,760 | €830,595 | -€28,165 | -3.3% |
| Tangible fixed assets | 22/27 | €858,760 | €830,595 | -€28,165 | -3.3% |
| Land and buildings | 22 | €852,994 | €824,937 | -€28,057 | -3.3% |
| Furniture and vehicles | 24 | €5,766 | €5,658 | -€108 | -1.9% |
| Current assets | 29/58 | €408,045 | €539,906 | +€131,860 | +32.3% |
| Amounts receivable within one year | 40/41 | €28,062 | €83,450 | +€55,388 | +197% |
| Trade receivables | 40 | - | €1,099 | +€1,099 | |
| Other amounts receivable | 41 | €28,062 | €82,351 | +€54,290 | +193% |
| Current investments | 50/53 | €109,402 | €145,774 | +€36,371 | +33.2% |
| Cash at bank and in hand | 54/58 | €138,721 | €271,808 | +€133,087 | +95.9% |
| Deferred charges and accrued income | 490/1 | €131,861 | €38,875 | -€92,986 | -70.5% |
| Total equity and liabilities | 10/49 | €1,266,805 | €1,370,500 | +€103,695 | +8.2% |
| Equity | 10/15 | €576,657 | €630,597 | +€53,940 | +9.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €564,257 | €618,197 | +€53,940 | +9.6% |
| Distributable reserves | 133 | €564,257 | €618,197 | +€53,940 | +9.6% |
| Amounts payable | 17/49 | €690,148 | €739,903 | +€49,755 | +7.2% |
| Amounts payable after more than one year | 17 | €472,271 | €424,106 | -€48,165 | -10.2% |
| Financial debts | 170/4 | €472,271 | €424,106 | -€48,165 | -10.2% |
| Amounts payable within one year | 42/48 | €217,877 | €310,955 | +€93,078 | +42.7% |
| Current portion of amounts payable after more than one year | 42 | €46,889 | €48,165 | +€1,276 | +2.7% |
| Trade debts | 44 | €21,635 | €24,409 | +€2,774 | +12.8% |
| Suppliers | 440/4 | €21,635 | €24,409 | +€2,774 | +12.8% |
| Taxes, remuneration and social security | 45 | €149,353 | €238,381 | +€89,028 | +59.6% |
| Taxes | 450/3 | €149,353 | €238,381 | +€89,028 | +59.6% |
| Accrued charges and deferred income | 492/3 | - | €4,842 | +€4,842 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,948 | €30,097 | +€149 | +0.5% |
| Other operating charges | 640/8 | €11,013 | €5,586 | -€5,427 | -49.3% |
| Gross operating margin | 9900 | €260,658 | €245,775 | -€14,883 | -5.7% |
| Operating profit (loss) | 9901 | €219,697 | €210,091 | -€9,605 | -4.4% |
| Financial income | 75/76B | €424 | €531 | +€106 | +25.0% |
| Recurring financial income | 75 | €424 | €531 | +€106 | +25.0% |
| Financial charges | 65/66B | €21,387 | €31,709 | +€10,323 | +48.3% |
| Recurring financial charges | 65 | €21,387 | €31,709 | +€10,323 | +48.3% |
| Profit (loss) for the period before taxes | 9903 | €198,735 | €178,913 | -€19,822 | -10.0% |
| Income taxes | 67/77 | €60,745 | €124,973 | +€64,228 | +106% |
| Profit (loss) for the period | 9904 | €137,989 | €53,940 | -€84,050 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €137,989 | €53,940 | -€84,050 | -60.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.