DR. E. VAN DEN BROECK: 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. E. VAN DEN BROECK
Largest movements
- Tangible fixed assets +€38,257
up €38,257 (+19.3%), from €198,281 to €236,538
of which Land and buildings: +€38,130
- Cash -€25,810
down €25,810 (-42.8%), from €60,334 to €34,524
mainly Investment in fixed assets (net) (-€51,555) and Trade debts (-€2,441)
- Debts after one year +€14,061
up €14,061 (+7.4%), from €191,008 to €205,069
- Gross operating margin +€9,782
up €9,782 (+75.6%), from €12,947 to €22,729
- Depreciation +€8,501
up €8,501 (+177%), from €4,797 to €13,298
- Financial charges +€4,570
up €4,570 (+118%), from €3,859 to €8,429
- Financial income -€362
down €362 (-83.4%), from €434 to €72
- Taxes -€267
down €267 (-52.8%), from €506 to €239
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 | €271,123 | €284,226 | +€13,103 | +4.8% |
| Fixed assets | 21/28 | €198,281 | €236,538 | +€38,257 | +19.3% |
| Tangible fixed assets | 22/27 | €198,281 | €236,538 | +€38,257 | +19.3% |
| Land and buildings | 22 | €196,030 | €234,160 | +€38,130 | +19.5% |
| Furniture and vehicles | 24 | €2,251 | €2,378 | +€128 | +5.7% |
| Current assets | 29/58 | €72,842 | €47,688 | -€25,154 | -34.5% |
| Amounts receivable within one year | 40/41 | €10,996 | €10,904 | -€92 | -0.8% |
| Trade receivables | 40 | - | €497 | +€497 | |
| Other amounts receivable | 41 | €10,996 | €10,407 | -€589 | -5.4% |
| Cash at bank and in hand | 54/58 | €60,334 | €34,524 | -€25,810 | -42.8% |
| Deferred charges and accrued income | 490/1 | €1,513 | €2,261 | +€748 | +49.4% |
| Total equity and liabilities | 10/49 | €271,123 | €284,226 | +€13,103 | +4.8% |
| Equity | 10/15 | €63,449 | €62,716 | -€733 | -1.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €51,049 | €51,049 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €49,189 | €49,189 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€733 | -€733 | |
| Amounts payable | 17/49 | €207,674 | €221,511 | +€13,836 | +6.7% |
| Amounts payable after more than one year | 17 | €191,008 | €205,069 | +€14,061 | +7.4% |
| Financial debts | 170/4 | €191,008 | €205,069 | +€14,061 | +7.4% |
| Amounts payable within one year | 42/48 | €15,642 | €16,442 | +€800 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €7,013 | €7,918 | +€905 | +12.9% |
| Trade debts | 44 | €4,483 | €2,042 | -€2,441 | -54.5% |
| Suppliers | 440/4 | €4,483 | €2,042 | -€2,441 | -54.5% |
| Other amounts payable | 47/48 | €4,145 | €6,482 | +€2,336 | +56.4% |
| Accrued charges and deferred income | 492/3 | €1,025 | - | -€1,025 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,797 | €13,298 | +€8,501 | +177% |
| Other operating charges | 640/8 | €1,433 | €1,568 | +€136 | +9.5% |
| Gross operating margin | 9900 | €12,947 | €22,729 | +€9,782 | +75.6% |
| Operating profit (loss) | 9901 | €6,717 | €7,863 | +€1,145 | +17.0% |
| Financial income | 75/76B | €434 | €72 | -€362 | -83.4% |
| Recurring financial income | 75 | €434 | €72 | -€362 | -83.4% |
| Financial charges | 65/66B | €3,859 | €8,429 | +€4,570 | +118% |
| Recurring financial charges | 65 | €3,859 | €8,429 | +€4,570 | +118% |
| Profit (loss) for the period before taxes | 9903 | €3,293 | -€494 | -€3,787 | |
| Income taxes | 67/77 | €506 | €239 | -€267 | -52.8% |
| Profit (loss) for the period | 9904 | €2,787 | -€733 | -€3,520 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,787 | -€733 | -€3,520 |
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 18 October 2026 via checked.be.