Dr. de Gheldere Charles: 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. de Gheldere Charles
Largest movements
- Current investments +€345,357
up €345,357 (+138%), from €250,191 to €595,548
- Tangible fixed assets -€239,317
down €239,317 (-94.5%), from €253,300 to €13,984
of which Land and buildings: -€240,833
- Cash -€98,193
down €98,193 (-27.3%), from €359,152 to €260,959
mainly Current investments (-€345,357) and Contributions, distributions and other (-€70,000)
- Tax, wage and social debts +€15,734
up €15,734 (+36.8%), from €42,724 to €58,458
- Gross operating margin -€72,693
down €72,693 (-42.9%), from €169,625 to €96,932
- Taxes -€16,990
down €16,990 (-39.8%), from €42,724 to €25,734
- Other operating charges -€9,016
down €9,016 (-67.9%), from €13,279 to €4,263
- Financial charges -€5,649
down €5,649 (-93.9%), from €6,019 to €370
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 | €982,979 | €990,361 | +€7,382 | +0.8% |
| Fixed assets | 21/28 | €254,425 | €15,109 | -€239,317 | -94.1% |
| Tangible fixed assets | 22/27 | €253,300 | €13,984 | -€239,317 | -94.5% |
| Land and buildings | 22 | €241,883 | €1,050 | -€240,833 | -99.6% |
| Plant, machinery and equipment | 23 | €1,310 | €1,708 | +€398 | +30.4% |
| Furniture and vehicles | 24 | €4,982 | €8,472 | +€3,490 | +70.1% |
| Other tangible fixed assets | 26 | €5,125 | €2,753 | -€2,372 | -46.3% |
| Financial fixed assets | 28 | €1,125 | €1,125 | = | 0.0% |
| Current assets | 29/58 | €728,553 | €975,252 | +€246,699 | +33.9% |
| Amounts receivable within one year | 40/41 | €17,941 | €9,402 | -€8,540 | -47.6% |
| Other amounts receivable | 41 | €17,941 | €9,402 | -€8,540 | -47.6% |
| Current investments | 50/53 | €250,191 | €595,548 | +€345,357 | +138% |
| Cash at bank and in hand | 54/58 | €359,152 | €260,959 | -€98,193 | -27.3% |
| Deferred charges and accrued income | 490/1 | €101,269 | €109,344 | +€8,075 | +8.0% |
| Total equity and liabilities | 10/49 | €982,979 | €990,361 | +€7,382 | +0.8% |
| Equity | 10/15 | €931,591 | €925,770 | -€5,820 | -0.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €919,191 | €913,370 | -€5,820 | -0.6% |
| Non-distributable reserves | 130/1 | €258,059 | €252,209 | -€5,850 | -2.3% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €256,200 | €250,350 | -€5,850 | -2.3% |
| Tax-exempt reserves | 132 | €3,645 | €3,645 | = | 0.0% |
| Distributable reserves | 133 | €657,486 | €657,516 | +€30 | 0.0% |
| Amounts payable | 17/49 | €51,388 | €64,591 | +€13,203 | +25.7% |
| Amounts payable within one year | 42/48 | €51,388 | €64,591 | +€13,203 | +25.7% |
| Trade debts | 44 | €5,246 | €6,133 | +€887 | +16.9% |
| Suppliers | 440/4 | €5,246 | €6,133 | +€887 | +16.9% |
| Taxes, remuneration and social security | 45 | €42,724 | €58,458 | +€15,734 | +36.8% |
| Taxes | 450/3 | €42,724 | €58,458 | +€15,734 | +36.8% |
| Other amounts payable | 47/48 | €3,418 | - | -€3,418 | |
| Non-recurring operating income | 76A | €114,271 | €59,217 | -€55,054 | -48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,939 | €4,938 | +€999 | +25.4% |
| Other operating charges | 640/8 | €13,279 | €4,263 | -€9,016 | -67.9% |
| Gross operating margin | 9900 | €169,625 | €96,932 | -€72,693 | -42.9% |
| Operating profit (loss) | 9901 | €152,408 | €87,731 | -€64,677 | -42.4% |
| Financial income | 75/76B | €1,381 | €2,552 | +€1,171 | +84.8% |
| Recurring financial income | 75 | €1,381 | €2,552 | +€1,171 | +84.8% |
| Financial charges | 65/66B | €6,019 | €370 | -€5,649 | -93.9% |
| Recurring financial charges | 65 | €6,019 | €370 | -€5,649 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | €147,770 | €89,913 | -€57,857 | -39.2% |
| Income taxes | 67/77 | €42,724 | €25,734 | -€16,990 | -39.8% |
| Profit (loss) for the period | 9904 | €105,046 | €64,180 | -€40,866 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €105,046 | €64,180 | -€40,866 | -38.9% |
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 16 October 2026 via checked.be.