Dr. De Sutter Jo: what changed
Two fiscal 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 Sutter Jo
Largest movements
- Current investments +€161,042
up €161,042 (+81.5%), from €197,492 to €358,534
- Cash +€76,305
up €76,305 (+43.5%), from €175,292 to €251,597
mainly Net result for the year (+€205,056) and Other debts (+€110,420)
- Tangible fixed assets -€55,799
down €55,799 (-6.0%), from €934,141 to €878,342
of which Land and buildings: -€56,549
- Receivables within one year -€52,713
down €52,713 (-62.7%), from €84,112 to €31,399
of which Other amounts receivable: -€55,546
- Deferred charges and accrued income +€29,554
up €29,554 (+26.8%), from €110,363 to €139,918
- Other debts +€110,420
up €110,420 (+47.8%), from €231,066 to €341,485
- Reserves +€70,056
up €70,056 (+6.2%), from €1.1m to €1.2m
of which Distributable reserves: +€105,656
- Debts after one year -€25,933
down €25,933 (-31.1%), from €83,269 to €57,336
- Gross operating margin -€9,888
down €9,888 (-2.5%), from €395,562 to €385,674
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.
Cash bridge derived
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 | €1,501,399 | €1,660,788 | +€159,389 | +10.6% |
| Fixed assets | 21/28 | €934,141 | €879,342 | -€54,799 | -5.9% |
| Tangible fixed assets | 22/27 | €934,141 | €878,342 | -€55,799 | -6.0% |
| Land and buildings | 22 | €928,015 | €871,467 | -€56,549 | -6.1% |
| Plant, machinery and equipment | 23 | €2,674 | €1,949 | -€724 | -27.1% |
| Furniture and vehicles | 24 | €3,452 | €4,926 | +€1,474 | +42.7% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €567,259 | €781,447 | +€214,188 | +37.8% |
| Amounts receivable within one year | 40/41 | €84,112 | €31,399 | -€52,713 | -62.7% |
| Trade receivables | 40 | €0 | €2,833 | +€2,833 | |
| Other amounts receivable | 41 | €84,112 | €28,566 | -€55,546 | -66.0% |
| Current investments | 50/53 | €197,492 | €358,534 | +€161,042 | +81.5% |
| Cash at bank and in hand | 54/58 | €175,292 | €251,597 | +€76,305 | +43.5% |
| Deferred charges and accrued income | 490/1 | €110,363 | €139,918 | +€29,554 | +26.8% |
| Total equity and liabilities | 10/49 | €1,501,399 | €1,660,788 | +€159,389 | +10.6% |
| Equity | 10/15 | €1,142,480 | €1,212,536 | +€70,056 | +6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,123,880 | €1,193,936 | +€70,056 | +6.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €35,600 | €0 | -€35,600 | -100.0% |
| Distributable reserves | 133 | €1,088,280 | €1,193,936 | +€105,656 | +9.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €358,920 | €448,252 | +€89,333 | +24.9% |
| Amounts payable after more than one year | 17 | €83,269 | €57,336 | -€25,933 | -31.1% |
| Financial debts | 170/4 | €83,269 | €57,336 | -€25,933 | -31.1% |
| Amounts payable within one year | 42/48 | €271,612 | €388,322 | +€116,710 | +43.0% |
| Current portion of amounts payable after more than one year | 42 | €32,625 | €25,933 | -€6,692 | -20.5% |
| Trade debts | 44 | €2,755 | €3,639 | +€884 | +32.1% |
| Suppliers | 440/4 | €2,755 | €3,639 | +€884 | +32.1% |
| Taxes, remuneration and social security | 45 | €5,166 | €17,265 | +€12,099 | +234.2% |
| Taxes | 450/3 | €5,166 | €17,265 | +€12,099 | +234.2% |
| Other amounts payable | 47/48 | €231,066 | €341,485 | +€110,420 | +47.8% |
| Accrued charges and deferred income | 492/3 | €4,039 | €2,594 | -€1,444 | -35.8% |
| Non-recurring operating income | 76A | €2,400 | €0 | -€2,400 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,661 | €58,999 | +€338 | +0.6% |
| Other operating charges | 640/8 | €9,490 | €9,884 | +€393 | +4.1% |
| Gross operating margin | 9900 | €395,562 | €385,674 | -€9,888 | -2.5% |
| Operating profit (loss) | 9901 | €327,411 | €316,791 | -€10,620 | -3.2% |
| Financial income | 75/76B | €7,106 | €7,964 | +€858 | +12.1% |
| Recurring financial income | 75 | €7,106 | €7,964 | +€858 | +12.1% |
| Financial charges | 65/66B | €21,291 | €20,155 | -€1,136 | -5.3% |
| Recurring financial charges | 65 | €21,291 | €20,155 | -€1,136 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €313,226 | €304,601 | -€8,625 | -2.8% |
| Income taxes | 67/77 | €97,624 | €99,544 | +€1,920 | +2.0% |
| Profit (loss) for the period | 9904 | €215,602 | €205,056 | -€10,546 | -4.9% |
| Transfer from tax-exempt reserves | 789 | - | €35,600 | +€35,600 | |
| Profit (loss) for the period to be appropriated | 9905 | €215,602 | €240,656 | +€25,054 | +11.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.