Dr. David Strybol: 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 Strybol
Largest movements
- Current investments +€110,000
up €110,000 (+110%), from €100,000 to €210,000
- Cash -€41,886
down €41,886 (-44.4%), from €94,392 to €52,507
mainly Contributions, distributions and other (-€376,999) and Current investments (-€110,000)
- Tangible fixed assets -€21,744
down €21,744 (-31.9%), from €68,109 to €46,365
of which Furniture and vehicles: -€14,809
- Receivables within one year +€6,931
up €6,931 (+6.7%), from €103,484 to €110,415
of which Trade receivables: +€9,077
- Other debts +€215,587
up €215,587 (+4,008%), from €5,379 to €220,966
- Reserves -€160,134
down €160,134 (-47.7%), from €335,392 to €175,258
- Trade debts -€5,482
down €5,482 (-57.0%), from €9,613 to €4,131
- Gross operating margin +€75,718
up €75,718 (+33.1%), from €228,982 to €304,701
- Taxes +€18,284
up €18,284 (+37.7%), from €48,473 to €66,756
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 | €369,703 | €420,654 | +€50,950 | +13.8% |
| Fixed assets | 21/28 | €68,109 | €46,365 | -€21,744 | -31.9% |
| Tangible fixed assets | 22/27 | €68,109 | €46,365 | -€21,744 | -31.9% |
| Land and buildings | 22 | €20,483 | €16,093 | -€4,390 | -21.4% |
| Plant, machinery and equipment | 23 | €1,820 | €787 | -€1,033 | -56.8% |
| Furniture and vehicles | 24 | €44,293 | €29,485 | -€14,809 | -33.4% |
| Assets under construction and advance payments | 27 | €1,512 | - | -€1,512 | |
| Current assets | 29/58 | €301,595 | €374,289 | +€72,694 | +24.1% |
| Amounts receivable within one year | 40/41 | €103,484 | €110,415 | +€6,931 | +6.7% |
| Trade receivables | 40 | €101,338 | €110,415 | +€9,077 | +9.0% |
| Other amounts receivable | 41 | €2,146 | - | -€2,146 | |
| Current investments | 50/53 | €100,000 | €210,000 | +€110,000 | +110% |
| Cash at bank and in hand | 54/58 | €94,392 | €52,507 | -€41,886 | -44.4% |
| Deferred charges and accrued income | 490/1 | €3,718 | €1,367 | -€2,351 | -63.2% |
| Total equity and liabilities | 10/49 | €369,703 | €420,654 | +€50,950 | +13.8% |
| Equity | 10/15 | €354,711 | €194,577 | -€160,134 | -45.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €335,392 | €175,258 | -€160,134 | -47.7% |
| Distributable reserves | 133 | €335,392 | €175,258 | -€160,134 | -47.7% |
| Profit (loss) carried forward | 14 | €719 | €719 | = | 0.0% |
| Amounts payable | 17/49 | €14,993 | €226,077 | +€211,084 | +1,408% |
| Amounts payable within one year | 42/48 | €14,993 | €226,077 | +€211,084 | +1,408% |
| Trade debts | 44 | €9,613 | €4,131 | -€5,482 | -57.0% |
| Suppliers | 440/4 | €9,613 | €4,131 | -€5,482 | -57.0% |
| Taxes, remuneration and social security | 45 | - | €980 | +€980 | |
| Taxes | 450/3 | - | €980 | +€980 | |
| Other amounts payable | 47/48 | €5,379 | €220,966 | +€215,587 | +4,008% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,722 | €23,255 | +€1,533 | +7.1% |
| Other operating charges | 640/8 | €263 | €272 | +€9 | +3.4% |
| Gross operating margin | 9900 | €228,982 | €304,701 | +€75,718 | +33.1% |
| Operating profit (loss) | 9901 | €206,997 | €281,174 | +€74,177 | +35.8% |
| Financial income | 75/76B | €2,062 | €2,588 | +€526 | +25.5% |
| Recurring financial income | 75 | €2,062 | €2,588 | +€526 | +25.5% |
| Financial charges | 65/66B | €453 | €140 | -€313 | -69.1% |
| Recurring financial charges | 65 | €453 | €140 | -€313 | -69.1% |
| Profit (loss) for the period before taxes | 9903 | €208,606 | €283,622 | +€75,015 | +36.0% |
| Income taxes | 67/77 | €48,473 | €66,756 | +€18,284 | +37.7% |
| Profit (loss) for the period | 9904 | €160,134 | €216,865 | +€56,732 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €160,134 | €216,865 | +€56,732 | +35.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.