DR. DIETER GORIS: 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. DIETER GORIS
Largest movements
- Receivables within one year +€28,257
up €28,257 (+18.1%), from €156,489 to €184,746
of which Trade receivables: +€28,500
- Tangible fixed assets -€23,384
down €23,384 (-7.3%), from €321,887 to €298,503
of which Land and buildings: -€18,563
- Cash -€14,283
down €14,283 (-34.2%), from €41,726 to €27,443
mainly Contributions, distributions and other (-€195,299) and Receivables within one year (-€28,257)
- Reserves -€136,177
down €136,177 (-47.1%), from €289,345 to €153,168
of which Distributable reserves: -€136,177
- Other debts +€73,352
up €73,352 (+440%), from €16,678 to €90,030
- Provisions +€44,896
new in 2025: €44,896
- Tax, wage and social debts +€14,323
up €14,323 (+80.2%), from €17,866 to €32,189
of which Taxes: +€14,323
- Debts after one year -€11,673
down €11,673 (-7.0%), from €167,925 to €156,252
- Provisions +€44,896
new in 2025: €44,896
- Taxes +€34,412
up €34,412 (+235%), from €14,636 to €49,048
- Gross operating margin +€33,248
up €33,248 (+21.5%), from €154,382 to €187,631
- Other operating charges +€4,533
up €4,533 (+257%), from €1,767 to €6,300
- Depreciation +€2,019
up €2,019 (+9.5%), from €21,364 to €23,384
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 | €522,960 | €514,239 | -€8,721 | -1.7% |
| Fixed assets | 21/28 | €322,137 | €298,753 | -€23,384 | -7.3% |
| Tangible fixed assets | 22/27 | €321,887 | €298,503 | -€23,384 | -7.3% |
| Land and buildings | 22 | €310,773 | €292,209 | -€18,563 | -6.0% |
| Plant, machinery and equipment | 23 | €7,112 | €4,275 | -€2,837 | -39.9% |
| Furniture and vehicles | 24 | €4,002 | €2,019 | -€1,983 | -49.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €200,823 | €215,485 | +€14,662 | +7.3% |
| Amounts receivable within one year | 40/41 | €156,489 | €184,746 | +€28,257 | +18.1% |
| Trade receivables | 40 | €28,861 | €57,361 | +€28,500 | +98.8% |
| Other amounts receivable | 41 | €127,628 | €127,385 | -€243 | -0.2% |
| Cash at bank and in hand | 54/58 | €41,726 | €27,443 | -€14,283 | -34.2% |
| Deferred charges and accrued income | 490/1 | €2,609 | €3,297 | +€688 | +26.4% |
| Total equity and liabilities | 10/49 | €522,960 | €514,239 | -€8,721 | -1.7% |
| Equity | 10/15 | €307,945 | €171,768 | -€136,177 | -44.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €289,345 | €153,168 | -€136,177 | -47.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €287,485 | €151,308 | -€136,177 | -47.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €44,896 | +€44,896 | |
| Provisions for liabilities and charges | 160/5 | - | €44,896 | +€44,896 | |
| Other liabilities and charges | 164/5 | - | €44,896 | +€44,896 | |
| Amounts payable | 17/49 | €215,015 | €297,575 | +€82,560 | +38.4% |
| Amounts payable after more than one year | 17 | €167,925 | €156,252 | -€11,673 | -7.0% |
| Financial debts | 170/4 | €167,925 | €156,252 | -€11,673 | -7.0% |
| Amounts payable within one year | 42/48 | €47,090 | €141,322 | +€94,233 | +200% |
| Current portion of amounts payable after more than one year | 42 | €11,458 | €11,699 | +€241 | +2.1% |
| Trade debts | 44 | €1,088 | €7,404 | +€6,316 | +580% |
| Suppliers | 440/4 | €1,088 | €7,404 | +€6,316 | +580% |
| Taxes, remuneration and social security | 45 | €17,866 | €32,189 | +€14,323 | +80.2% |
| Taxes | 450/3 | €17,866 | €32,189 | +€14,323 | +80.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €16,678 | €90,030 | +€73,352 | +440% |
| Remuneration, social security and pensions | 62 | €250 | €0 | -€250 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,364 | €23,384 | +€2,019 | +9.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €44,896 | +€44,896 | |
| Other operating charges | 640/8 | €1,767 | €6,300 | +€4,533 | +257% |
| Gross operating margin | 9900 | €154,382 | €187,631 | +€33,248 | +21.5% |
| Operating profit (loss) | 9901 | €131,001 | €113,052 | -€17,950 | -13.7% |
| Financial income | 75/76B | €69 | €483 | +€414 | +598% |
| Recurring financial income | 75 | €69 | €483 | +€414 | +598% |
| Financial charges | 65/66B | €6,077 | €5,364 | -€713 | -11.7% |
| Recurring financial charges | 65 | €6,077 | €5,364 | -€713 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | €124,993 | €108,170 | -€16,823 | -13.5% |
| Income taxes | 67/77 | €14,636 | €49,048 | +€34,412 | +235% |
| Profit (loss) for the period | 9904 | €110,357 | €59,122 | -€51,234 | -46.4% |
| Profit (loss) for the period to be appropriated | 9905 | €110,357 | €59,122 | -€51,234 | -46.4% |
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 31 October 2026 via checked.be.