Dr. De Sutter Thomas: 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 Sutter Thomas
Largest movements
- Cash -€79,931
down €79,931 (-54.0%), from €147,989 to €68,058
mainly Contributions, distributions and other (-€284,577) and Investment in fixed assets (net) (-€74,930)
- Tangible fixed assets +€58,778
up €58,778 (+191%), from €30,721 to €89,499
of which Land and buildings: +€73,014
- Deferred charges and accrued income +€25,933
up €25,933 (+15.5%), from €167,556 to €193,489
- Receivables within one year +€9,260
up €9,260, from €0 to €9,260
- Trade debts +€24,077
up €24,077 (+1,325%), from €1,817 to €25,894
- Debts after one year -€14,163
down €14,163 (-92.2%), from €15,354 to €1,191
- Accrued charges and deferred income +€13,834
new in 2026: €13,834
- Other debts -€9,332
down €9,332 (-3.2%), from €293,909 to €284,577
No income-statement line moved by more than 1% of the activity.
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €346,266 | €360,305 | +€14,039 | +4.1% |
| Fixed assets | 21/28 | €30,721 | €89,499 | +€58,778 | +191% |
| Tangible fixed assets | 22/27 | €30,721 | €89,499 | +€58,778 | +191% |
| Land and buildings | 22 | - | €73,014 | +€73,014 | |
| Furniture and vehicles | 24 | €28,010 | €14,225 | -€13,785 | -49.2% |
| Other tangible fixed assets | 26 | €2,711 | €2,259 | -€452 | -16.7% |
| Current assets | 29/58 | €315,545 | €270,806 | -€44,739 | -14.2% |
| Amounts receivable within one year | 40/41 | €0 | €9,260 | +€9,260 | |
| Other amounts receivable | 41 | €0 | €9,260 | +€9,260 | |
| Cash at bank and in hand | 54/58 | €147,989 | €68,058 | -€79,931 | -54.0% |
| Deferred charges and accrued income | 490/1 | €167,556 | €193,489 | +€25,933 | +15.5% |
| Total equity and liabilities | 10/49 | €346,266 | €360,305 | +€14,039 | +4.1% |
| Equity | 10/15 | €6,000 | €6,000 | = | 0.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €340,266 | €354,305 | +€14,039 | +4.1% |
| Amounts payable after more than one year | 17 | €15,354 | €1,191 | -€14,163 | -92.2% |
| Financial debts | 170/4 | €15,354 | €1,191 | -€14,163 | -92.2% |
| Amounts payable within one year | 42/48 | €324,912 | €339,281 | +€14,369 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €13,937 | €14,163 | +€226 | +1.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,817 | €25,894 | +€24,077 | +1,325% |
| Suppliers | 440/4 | €1,817 | €25,894 | +€24,077 | +1,325% |
| Taxes, remuneration and social security | 45 | €15,250 | €14,647 | -€603 | -4.0% |
| Taxes | 450/3 | €15,250 | €14,647 | -€603 | -4.0% |
| Other amounts payable | 47/48 | €293,909 | €284,577 | -€9,332 | -3.2% |
| Accrued charges and deferred income | 492/3 | - | €13,834 | +€13,834 | |
| Remuneration, social security and pensions | 62 | €4,716 | €8,374 | +€3,658 | +77.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,245 | €16,152 | +€907 | +5.9% |
| Other operating charges | 640/8 | €4,099 | €1,187 | -€2,912 | -71.0% |
| Gross operating margin | 9900 | €405,750 | €403,269 | -€2,480 | -0.6% |
| Operating profit (loss) | 9901 | €381,689 | €377,557 | -€4,132 | -1.1% |
| Financial income | 75/76B | €0 | €91 | +€91 | +23,963% |
| Recurring financial income | 75 | €0 | €91 | +€91 | +23,963% |
| Financial charges | 65/66B | €702 | €644 | -€58 | -8.2% |
| Recurring financial charges | 65 | €702 | €644 | -€58 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €380,988 | €377,004 | -€3,984 | -1.0% |
| Income taxes | 67/77 | €92,985 | €92,427 | -€558 | -0.6% |
| Profit (loss) for the period | 9904 | €288,003 | €284,577 | -€3,426 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €288,003 | €284,577 | -€3,426 | -1.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.