DR. DE ROUCK: 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 ROUCK
Largest movements
- Cash +€302,177
up €302,177 (+45.3%), from €666,800 to €968,977
mainly Net result for the year (+€250,076) and Receivables after one year (+€108,624)
- Receivables after one year -€108,624
no longer reported in 2025 (was €108,624)
- Current investments -€55,506
down €55,506 (-21.1%), from €262,938 to €207,432
- Tangible fixed assets +€19,513
up €19,513 (+29.1%), from €67,080 to €86,593
of which Other tangible fixed assets: +€37,994
- Reserves +€161,594
up €161,594 (+16.6%), from €970,948 to €1.1m
- Staff costs -€7,465
down €7,465 (-11.8%), from €63,197 to €55,732
- Gross operating margin +€6,940
up €6,940 (+1.7%), from €412,488 to €419,428
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 | €1,150,447 | €1,308,359 | +€157,912 | +13.7% |
| Fixed assets | 21/28 | €67,080 | €86,593 | +€19,513 | +29.1% |
| Tangible fixed assets | 22/27 | €67,080 | €86,593 | +€19,513 | +29.1% |
| Plant, machinery and equipment | 23 | €43,914 | €28,241 | -€15,673 | -35.7% |
| Furniture and vehicles | 24 | €8,593 | €5,785 | -€2,808 | -32.7% |
| Other tangible fixed assets | 26 | €14,573 | €52,568 | +€37,994 | +261% |
| Current assets | 29/58 | €1,083,367 | €1,221,766 | +€138,399 | +12.8% |
| Amounts receivable after more than one year | 29 | €108,624 | - | -€108,624 | |
| Other amounts receivable | 291 | €108,624 | - | -€108,624 | |
| Amounts receivable within one year | 40/41 | €26,526 | €31,491 | +€4,964 | +18.7% |
| Other amounts receivable | 41 | €26,526 | €31,491 | +€4,964 | +18.7% |
| Current investments | 50/53 | €262,938 | €207,432 | -€55,506 | -21.1% |
| Cash at bank and in hand | 54/58 | €666,800 | €968,977 | +€302,177 | +45.3% |
| Deferred charges and accrued income | 490/1 | €18,478 | €13,866 | -€4,612 | -25.0% |
| Total equity and liabilities | 10/49 | €1,150,447 | €1,308,359 | +€157,912 | +13.7% |
| Equity | 10/15 | €989,548 | €1,151,142 | +€161,594 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €970,948 | €1,132,542 | +€161,594 | +16.6% |
| Distributable reserves | 133 | €970,948 | €1,132,542 | +€161,594 | +16.6% |
| Amounts payable | 17/49 | €160,899 | €157,217 | -€3,682 | -2.3% |
| Amounts payable within one year | 42/48 | €146,635 | €147,191 | +€556 | +0.4% |
| Trade debts | 44 | €16,513 | €7,577 | -€8,936 | -54.1% |
| Suppliers | 440/4 | €16,513 | €7,577 | -€8,936 | -54.1% |
| Taxes, remuneration and social security | 45 | €32,626 | €40,915 | +€8,289 | +25.4% |
| Taxes | 450/3 | €27,356 | €27,779 | +€423 | +1.5% |
| Remuneration and social security | 454/9 | €5,270 | €13,136 | +€7,866 | +149% |
| Other amounts payable | 47/48 | €97,495 | €98,699 | +€1,204 | +1.2% |
| Accrued charges and deferred income | 492/3 | €14,264 | €10,025 | -€4,238 | -29.7% |
| Remuneration, social security and pensions | 62 | €63,197 | €55,732 | -€7,465 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,813 | €23,896 | +€3,082 | +14.8% |
| Other operating charges | 640/8 | €1,702 | €1,295 | -€407 | -23.9% |
| Gross operating margin | 9900 | €412,488 | €419,428 | +€6,940 | +1.7% |
| Operating profit (loss) | 9901 | €326,775 | €338,506 | +€11,731 | +3.6% |
| Financial income | 75/76B | €24,967 | €23,349 | -€1,619 | -6.5% |
| Recurring financial income | 75 | €24,967 | €23,349 | -€1,619 | -6.5% |
| Financial charges | 65/66B | €1,492 | €1,432 | -€60 | -4.0% |
| Recurring financial charges | 65 | €1,492 | €1,432 | -€60 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €350,250 | €360,422 | +€10,172 | +2.9% |
| Income taxes | 67/77 | €107,137 | €110,346 | +€3,210 | +3.0% |
| Profit (loss) for the period | 9904 | €243,114 | €250,076 | +€6,963 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €243,114 | €250,076 | +€6,963 | +2.9% |
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.