Dr. Dirk Claes: 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. Dirk Claes
Largest movements
- Cash +€135,948
up €135,948 (+86.5%), from €157,083 to €293,031
mainly Net result for the year (+€182,523) and Current investments (+€130,938)
- Current investments -€130,938
down €130,938 (-24.2%), from €540,076 to €409,137
- Tangible fixed assets +€28,439
up €28,439 (+19.8%), from €143,883 to €172,322
of which Furniture and vehicles: +€40,311
- Reserves +€42,523
up €42,523 (+5.8%), from €733,996 to €776,518
- Accrued charges and deferred income -€30,939
down €30,939 (-83.9%), from €36,878 to €5,939
- Other debts +€14,749
up €14,749 (+11.5%), from €128,524 to €143,273
- Trade debts +€11,687
new in 2025: €11,687
- Financial income +€55,469
up €55,469 (+908.8%), from €6,104 to €61,573
- Financial charges +€17,444
up €17,444 (+9353.2%), from €187 to €17,630
- Gross operating margin -€8,602
down €8,602 (-3.1%), from €281,320 to €272,718
- Depreciation +€7,533
up €7,533 (+16.4%), from €46,069 to €53,602
- Taxes +€4,118
up €4,118 (+5.6%), from €73,417 to €77,535
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 | €928,917 | €965,670 | +€36,753 | +4.0% |
| Fixed assets | 21/28 | €143,883 | €172,322 | +€28,439 | +19.8% |
| Tangible fixed assets | 22/27 | €143,883 | €172,322 | +€28,439 | +19.8% |
| Land and buildings | 22 | €87,863 | €65,680 | -€22,182 | -25.2% |
| Furniture and vehicles | 24 | €22,321 | €62,633 | +€40,311 | +180.6% |
| Other tangible fixed assets | 26 | €33,699 | €44,009 | +€10,311 | +30.6% |
| Current assets | 29/58 | €785,034 | €793,348 | +€8,314 | +1.1% |
| Amounts receivable within one year | 40/41 | €83,410 | €88,137 | +€4,727 | +5.7% |
| Trade receivables | 40 | €82,555 | €88,137 | +€5,582 | +6.8% |
| Other amounts receivable | 41 | €855 | - | -€855 | |
| Current investments | 50/53 | €540,076 | €409,137 | -€130,938 | -24.2% |
| Cash at bank and in hand | 54/58 | €157,083 | €293,031 | +€135,948 | +86.5% |
| Deferred charges and accrued income | 490/1 | €4,465 | €3,042 | -€1,423 | -31.9% |
| Total equity and liabilities | 10/49 | €928,917 | €965,670 | +€36,753 | +4.0% |
| Equity | 10/15 | €733,997 | €776,519 | +€42,523 | +5.8% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €733,996 | €776,518 | +€42,523 | +5.8% |
| Distributable reserves | 133 | €733,996 | €776,518 | +€42,523 | +5.8% |
| Amounts payable | 17/49 | €194,921 | €189,151 | -€5,770 | -3.0% |
| Amounts payable within one year | 42/48 | €158,042 | €183,212 | +€25,170 | +15.9% |
| Trade debts | 44 | - | €11,687 | +€11,687 | |
| Suppliers | 440/4 | - | €11,687 | +€11,687 | |
| Taxes, remuneration and social security | 45 | €29,518 | €28,252 | -€1,266 | -4.3% |
| Taxes | 450/3 | €29,518 | €28,252 | -€1,266 | -4.3% |
| Other amounts payable | 47/48 | €128,524 | €143,273 | +€14,749 | +11.5% |
| Accrued charges and deferred income | 492/3 | €36,878 | €5,939 | -€30,939 | -83.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,069 | €53,602 | +€7,533 | +16.4% |
| Other operating charges | 640/8 | €3,569 | €3,001 | -€567 | -15.9% |
| Gross operating margin | 9900 | €281,320 | €272,718 | -€8,602 | -3.1% |
| Operating profit (loss) | 9901 | €231,682 | €216,115 | -€15,567 | -6.7% |
| Financial income | 75/76B | €6,104 | €61,573 | +€55,469 | +908.8% |
| Recurring financial income | 75 | €6,104 | €61,573 | +€55,469 | +908.8% |
| Financial charges | 65/66B | €187 | €17,630 | +€17,444 | +9353.2% |
| Recurring financial charges | 65 | €187 | €17,630 | +€17,444 | +9353.2% |
| Profit (loss) for the period before taxes | 9903 | €237,600 | €260,057 | +€22,458 | +9.5% |
| Income taxes | 67/77 | €73,417 | €77,535 | +€4,118 | +5.6% |
| Profit (loss) for the period | 9904 | €164,183 | €182,523 | +€18,340 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €164,183 | €182,523 | +€18,340 | +11.2% |
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 8 October 2026 via checked.be.