DR. DRIES MUNTERS: 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. DRIES MUNTERS
Largest movements
- Cash +€58,479
up €58,479 (+52.6%), from €111,089 to €169,569
mainly Net result for the year (+€106,523) and Depreciation (+€11,618)
- Deferred charges and accrued income +€32,513
up €32,513 (+270%), from €12,028 to €44,541
- Current investments +€18,000
up €18,000 (+42.1%), from €42,750 to €60,750
- Tangible fixed assets -€9,330
down €9,330 (-19.3%), from €48,277 to €38,947
- Reserves +€106,523
up €106,523 (+53.8%), from €198,178 to €304,701
- Tax, wage and social debts -€7,372
down €7,372 (-69.6%), from €10,599 to €3,227
- Gross operating margin +€6,913
up €6,913 (+5.0%), from €138,390 to €145,303
- Depreciation +€2,640
up €2,640 (+29.4%), from €8,978 to €11,618
- Financial income +€2,316
up €2,316 (+780%), from €297 to €2,613
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 | €214,144 | €313,807 | +€99,663 | +46.5% |
| Fixed assets | 21/28 | €48,277 | €38,947 | -€9,330 | -19.3% |
| Tangible fixed assets | 22/27 | €48,277 | €38,947 | -€9,330 | -19.3% |
| Furniture and vehicles | 24 | €48,277 | €38,947 | -€9,330 | -19.3% |
| Current assets | 29/58 | €165,867 | €274,860 | +€108,992 | +65.7% |
| Current investments | 50/53 | €42,750 | €60,750 | +€18,000 | +42.1% |
| Cash at bank and in hand | 54/58 | €111,089 | €169,569 | +€58,479 | +52.6% |
| Deferred charges and accrued income | 490/1 | €12,028 | €44,541 | +€32,513 | +270% |
| Total equity and liabilities | 10/49 | €214,144 | €313,807 | +€99,663 | +46.5% |
| Equity | 10/15 | €203,178 | €309,701 | +€106,523 | +52.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €198,178 | €304,701 | +€106,523 | +53.8% |
| Distributable reserves | 133 | €198,178 | €304,701 | +€106,523 | +53.8% |
| Amounts payable | 17/49 | €10,966 | €4,106 | -€6,860 | -62.6% |
| Amounts payable within one year | 42/48 | €10,966 | €3,742 | -€7,224 | -65.9% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €10,599 | €3,227 | -€7,372 | -69.6% |
| Taxes | 450/3 | €10,599 | €3,227 | -€7,372 | -69.6% |
| Other amounts payable | 47/48 | €367 | €515 | +€148 | +40.3% |
| Accrued charges and deferred income | 492/3 | - | €364 | +€364 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,978 | €11,618 | +€2,640 | +29.4% |
| Other operating charges | 640/8 | €224 | €689 | +€465 | +208% |
| Gross operating margin | 9900 | €138,390 | €145,303 | +€6,913 | +5.0% |
| Operating profit (loss) | 9901 | €129,188 | €132,995 | +€3,808 | +2.9% |
| Financial income | 75/76B | €297 | €2,613 | +€2,316 | +780% |
| Recurring financial income | 75 | €297 | €2,613 | +€2,316 | +780% |
| Financial charges | 65/66B | -€5 | €75 | +€80 | |
| Recurring financial charges | 65 | -€5 | €75 | +€80 | |
| Profit (loss) for the period before taxes | 9903 | €129,490 | €135,534 | +€6,044 | +4.7% |
| Income taxes | 67/77 | €27,688 | €29,011 | +€1,322 | +4.8% |
| Profit (loss) for the period | 9904 | €101,802 | €106,523 | +€4,721 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €101,802 | €106,523 | +€4,721 | +4.6% |
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 21 October 2026 via checked.be.