DR. DIRK BERNARD: 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. DIRK BERNARD
Largest movements
- Cash +€82,168
up €82,168 (+130%), from €63,434 to €145,602
mainly Net result for the year (+€153,952) and Trade debts (+€57,327)
- Receivables within one year -€56,986
down €56,986 (-39.7%), from €143,599 to €86,613
of which Trade receivables: -€56,986
- Current investments +€40,000
up €40,000 (+8.1%), from €496,818 to €536,818
- Tangible fixed assets -€10,978
down €10,978 (-19.5%), from €56,231 to €45,253
of which Furniture and vehicles: -€13,543
- Reserves +€153,952
up €153,952 (+78.0%), from €197,369 to €351,321
of which Distributable reserves: +€153,952
- Accrued charges and deferred income -€109,000
down €109,000 (-100%), from €109,000 to €0
- Trade debts +€57,327
up €57,327 (+3,210%), from €1,786 to €59,114
- Other debts -€49,342
down €49,342 (-11.3%), from €435,488 to €386,146
- Gross operating margin +€113,534
up €113,534 (+109%), from €104,354 to €217,887
- Taxes +€37,140
up €37,140 (+123%), from €30,169 to €67,309
- Financial income +€16,682
up €16,682 (+292%), from €5,719 to €22,401
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 | €770,697 | €823,685 | +€52,989 | +6.9% |
| Fixed assets | 21/28 | €56,231 | €45,253 | -€10,978 | -19.5% |
| Tangible fixed assets | 22/27 | €56,231 | €45,253 | -€10,978 | -19.5% |
| Land and buildings | 22 | €1,859 | €1,581 | -€278 | -14.9% |
| Plant, machinery and equipment | 23 | €6,806 | €5,701 | -€1,105 | -16.2% |
| Furniture and vehicles | 24 | €41,520 | €27,977 | -€13,543 | -32.6% |
| Other tangible fixed assets | 26 | €6,046 | €9,993 | +€3,947 | +65.3% |
| Current assets | 29/58 | €714,466 | €778,433 | +€63,967 | +9.0% |
| Amounts receivable within one year | 40/41 | €143,599 | €86,613 | -€56,986 | -39.7% |
| Trade receivables | 40 | €143,599 | €86,613 | -€56,986 | -39.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €496,818 | €536,818 | +€40,000 | +8.1% |
| Cash at bank and in hand | 54/58 | €63,434 | €145,602 | +€82,168 | +130% |
| Deferred charges and accrued income | 490/1 | €10,615 | €9,400 | -€1,215 | -11.4% |
| Total equity and liabilities | 10/49 | €770,697 | €823,685 | +€52,989 | +6.9% |
| Equity | 10/15 | €215,969 | €369,921 | +€153,952 | +71.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €197,369 | €351,321 | +€153,952 | +78.0% |
| Tax-exempt reserves | 132 | €294 | €294 | = | 0.0% |
| Distributable reserves | 133 | €197,076 | €351,027 | +€153,952 | +78.1% |
| Amounts payable | 17/49 | €554,727 | €453,765 | -€100,963 | -18.2% |
| Amounts payable within one year | 42/48 | €445,727 | €453,765 | +€8,037 | +1.8% |
| Trade debts | 44 | €1,786 | €59,114 | +€57,327 | +3,210% |
| Suppliers | 440/4 | €1,786 | €59,114 | +€57,327 | +3,210% |
| Taxes, remuneration and social security | 45 | €8,453 | €8,505 | +€51 | +0.6% |
| Taxes | 450/3 | €8,453 | €8,505 | +€51 | +0.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €435,488 | €386,146 | -€49,342 | -11.3% |
| Accrued charges and deferred income | 492/3 | €109,000 | €0 | -€109,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,296 | €16,949 | -€347 | -2.0% |
| Other operating charges | 640/8 | €912 | €942 | +€30 | +3.3% |
| Gross operating margin | 9900 | €104,354 | €217,887 | +€113,534 | +109% |
| Operating profit (loss) | 9901 | €86,145 | €199,996 | +€113,851 | +132% |
| Financial income | 75/76B | €5,719 | €22,401 | +€16,682 | +292% |
| Recurring financial income | 75 | €5,719 | €22,401 | +€16,682 | +292% |
| Financial charges | 65/66B | €1,132 | €1,137 | +€4 | +0.4% |
| Recurring financial charges | 65 | €1,132 | €1,137 | +€4 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €90,732 | €221,260 | +€130,529 | +144% |
| Income taxes | 67/77 | €30,169 | €67,309 | +€37,140 | +123% |
| Profit (loss) for the period | 9904 | €60,563 | €153,952 | +€93,389 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €60,563 | €153,952 | +€93,389 | +154% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.