DR. DIRK VAN GESTEL: 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 VAN GESTEL
Largest movements
- Receivables within one year +€51,840
up €51,840 (+127%), from €40,786 to €92,626
- Current investments -€39,961
down €39,961 (-79.2%), from €50,436 to €10,475
- Cash +€30,213
up €30,213 (+122%), from €24,857 to €55,069
mainly Current investments (+€39,961) and Depreciation (+€25,001)
- Tangible fixed assets -€25,001
down €25,001 (-25.9%), from €96,648 to €71,647
- Deferred charges and accrued income +€6,543
up €6,543 (+8.7%), from €74,992 to €81,535
- Reserves +€20,098
up €20,098 (+4.3%), from €469,062 to €489,161
- Gross operating margin +€49,929
up €49,929, from -€4,327 to €45,602
- Taxes +€5,143
up €5,143 (+1,063%), from €484 to €5,627
- Financial income +€585
up €585 (+9.8%), from €5,992 to €6,576
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 | €487,719 | €511,353 | +€23,633 | +4.8% |
| Fixed assets | 21/28 | €96,648 | €71,647 | -€25,001 | -25.9% |
| Tangible fixed assets | 22/27 | €96,648 | €71,647 | -€25,001 | -25.9% |
| Furniture and vehicles | 24 | €96,648 | €71,647 | -€25,001 | -25.9% |
| Current assets | 29/58 | €391,072 | €439,706 | +€48,634 | +12.4% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €200,000 | €200,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,786 | €92,626 | +€51,840 | +127% |
| Other amounts receivable | 41 | €40,786 | €92,626 | +€51,840 | +127% |
| Current investments | 50/53 | €50,436 | €10,475 | -€39,961 | -79.2% |
| Cash at bank and in hand | 54/58 | €24,857 | €55,069 | +€30,213 | +122% |
| Deferred charges and accrued income | 490/1 | €74,992 | €81,535 | +€6,543 | +8.7% |
| Total equity and liabilities | 10/49 | €487,719 | €511,353 | +€23,633 | +4.8% |
| Equity | 10/15 | €481,462 | €501,561 | +€20,098 | +4.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €469,062 | €489,161 | +€20,098 | +4.3% |
| Distributable reserves | 133 | €469,062 | €489,161 | +€20,098 | +4.3% |
| Amounts payable | 17/49 | €6,257 | €9,792 | +€3,535 | +56.5% |
| Amounts payable within one year | 42/48 | €6,257 | €9,792 | +€3,535 | +56.5% |
| Financial debts | 43 | €1,906 | €2,846 | +€940 | +49.3% |
| Other loans | 439 | €1,906 | €2,846 | +€940 | +49.3% |
| Trade debts | 44 | €4,351 | €6,946 | +€2,595 | +59.7% |
| Suppliers | 440/4 | €4,351 | €6,946 | +€2,595 | +59.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,001 | €25,001 | = | 0.0% |
| Other operating charges | 640/8 | €1,460 | €1,253 | -€207 | -14.2% |
| Gross operating margin | 9900 | -€4,327 | €45,602 | +€49,929 | |
| Operating profit (loss) | 9901 | -€30,788 | €19,348 | +€50,136 | |
| Financial income | 75/76B | €5,992 | €6,576 | +€585 | +9.8% |
| Recurring financial income | 75 | €5,992 | €6,576 | +€585 | +9.8% |
| Financial charges | 65/66B | €237 | €199 | -€38 | -15.9% |
| Recurring financial charges | 65 | €237 | €199 | -€38 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€25,033 | €25,725 | +€50,759 | |
| Income taxes | 67/77 | €484 | €5,627 | +€5,143 | +1,063% |
| Profit (loss) for the period | 9904 | -€25,517 | €20,098 | +€45,616 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,517 | €20,098 | +€45,616 |
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 27 October 2026 via checked.be.