Dr. Dirk Vrancken: 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 Vrancken
Largest movements
- Cash +€62,233
up €62,233 (+58.7%), from €105,932 to €168,165
mainly Net result for the year (+€301,346) and Other debts (+€120,779)
- Tangible fixed assets -€28,617
down €28,617 (-24.1%), from €118,655 to €90,038
- Deferred charges and accrued income +€26,017
up €26,017 (+20.6%), from €126,344 to €152,361
- Other debts +€120,779
up €120,779 (+66.7%), from €181,129 to €301,908
- Debts after one year -€31,750
down €31,750 (-46.2%), from €68,792 to €37,042
- Profit (loss) carried forward -€28,654
down €28,654 (-34.3%), from €83,590 to €54,936
- Gross operating margin +€88,606
up €88,606 (+25.7%), from €345,013 to €433,619
- Taxes +€24,085
up €24,085 (+32.0%), from €75,171 to €99,257
- Depreciation +€4,656
up €4,656 (+19.4%), from €23,961 to €28,617
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 | €365,761 | €426,136 | +€60,375 | +16.5% |
| Fixed assets | 21/28 | €118,655 | €90,038 | -€28,617 | -24.1% |
| Tangible fixed assets | 22/27 | €118,655 | €90,038 | -€28,617 | -24.1% |
| Furniture and vehicles | 24 | €118,655 | €90,038 | -€28,617 | -24.1% |
| Current assets | 29/58 | €247,105 | €336,098 | +€88,992 | +36.0% |
| Amounts receivable within one year | 40/41 | €14,829 | €15,572 | +€743 | +5.0% |
| Other amounts receivable | 41 | €14,829 | €15,572 | +€743 | +5.0% |
| Cash at bank and in hand | 54/58 | €105,932 | €168,165 | +€62,233 | +58.7% |
| Deferred charges and accrued income | 490/1 | €126,344 | €152,361 | +€26,017 | +20.6% |
| Total equity and liabilities | 10/49 | €365,761 | €426,136 | +€60,375 | +16.5% |
| Equity | 10/15 | €84,090 | €55,436 | -€28,654 | -34.1% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,590 | €54,936 | -€28,654 | -34.3% |
| Amounts payable | 17/49 | €281,671 | €370,700 | +€89,029 | +31.6% |
| Amounts payable after more than one year | 17 | €68,792 | €37,042 | -€31,750 | -46.2% |
| Financial debts | 170/4 | €68,792 | €37,042 | -€31,750 | -46.2% |
| Amounts payable within one year | 42/48 | €212,879 | €333,658 | +€120,779 | +56.7% |
| Current portion of amounts payable after more than one year | 42 | €31,750 | €31,750 | = | 0.0% |
| Other amounts payable | 47/48 | €181,129 | €301,908 | +€120,779 | +66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,961 | €28,617 | +€4,656 | +19.4% |
| Other operating charges | 640/8 | €1,298 | €1,654 | +€356 | +27.4% |
| Gross operating margin | 9900 | €345,013 | €433,619 | +€88,606 | +25.7% |
| Operating profit (loss) | 9901 | €319,754 | €403,348 | +€83,594 | +26.1% |
| Financial income | 75/76B | €500 | - | -€500 | |
| Recurring financial income | 75 | €500 | - | -€500 | |
| Financial charges | 65/66B | €5,772 | €2,745 | -€3,027 | -52.4% |
| Recurring financial charges | 65 | €5,772 | €2,745 | -€3,027 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €314,482 | €400,603 | +€86,121 | +27.4% |
| Income taxes | 67/77 | €75,171 | €99,257 | +€24,085 | +32.0% |
| Profit (loss) for the period | 9904 | €239,310 | €301,346 | +€62,036 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €239,310 | €301,346 | +€62,036 | +25.9% |
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 23 October 2026 via checked.be.