Dr. E. Van Deynse: 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 Deynse
Largest movements
- Cash -€152,438
down €152,438 (-57.2%), from €266,272 to €113,834
mainly Other debts (-€291,783) and Accrued charges and deferred income (-€14,157)
- Tangible fixed assets -€14,543
down €14,543 (-3.0%), from €477,860 to €463,317
of which Land and buildings: -€12,951
- Other debts -€291,783
down €291,783 (-94.1%), from €310,148 to €18,365
- Reserves +€126,820
up €126,820 (+22.4%), from €565,265 to €692,085
- Accrued charges and deferred income -€14,157
down €14,157 (-89.1%), from €15,880 to €1,723
- Gross operating margin +€66,146
up €66,146 (+48.9%), from €135,275 to €201,422
- Taxes +€25,520
up €25,520 (+72.0%), from €35,458 to €60,978
- Financial charges -€14,764
down €14,764 (-98.4%), from €15,000 to €236
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 | €926,008 | €751,506 | -€174,502 | -18.8% |
| Fixed assets | 21/28 | €478,610 | €464,067 | -€14,543 | -3.0% |
| Tangible fixed assets | 22/27 | €477,860 | €463,317 | -€14,543 | -3.0% |
| Land and buildings | 22 | €473,754 | €460,803 | -€12,951 | -2.7% |
| Furniture and vehicles | 24 | €1,888 | €644 | -€1,244 | -65.9% |
| Other tangible fixed assets | 26 | €2,218 | €1,871 | -€348 | -15.7% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €447,398 | €287,438 | -€159,959 | -35.8% |
| Amounts receivable within one year | 40/41 | €21,351 | €17,389 | -€3,963 | -18.6% |
| Trade receivables | 40 | €21,351 | €17,389 | -€3,963 | -18.6% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €266,272 | €113,834 | -€152,438 | -57.2% |
| Deferred charges and accrued income | 490/1 | €9,774 | €6,216 | -€3,559 | -36.4% |
| Total equity and liabilities | 10/49 | €926,008 | €751,506 | -€174,502 | -18.8% |
| Equity | 10/15 | €579,857 | €706,679 | +€126,823 | +21.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €565,265 | €692,085 | +€126,820 | +22.4% |
| Distributable reserves | 133 | €565,265 | €692,085 | +€126,820 | +22.4% |
| Profit (loss) carried forward | 14 | €2,192 | €2,194 | +€3 | +0.1% |
| Amounts payable | 17/49 | €346,151 | €44,827 | -€301,325 | -87.1% |
| Amounts payable within one year | 42/48 | €330,271 | €43,103 | -€287,168 | -86.9% |
| Trade debts | 44 | €333 | €696 | +€363 | +109% |
| Suppliers | 440/4 | €333 | €696 | +€363 | +109% |
| Taxes, remuneration and social security | 45 | €19,790 | €24,042 | +€4,252 | +21.5% |
| Taxes | 450/3 | €19,790 | €24,042 | +€4,252 | +21.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €310,148 | €18,365 | -€291,783 | -94.1% |
| Accrued charges and deferred income | 492/3 | €15,880 | €1,723 | -€14,157 | -89.1% |
| Remuneration, social security and pensions | 62 | -€31 | €0 | +€31 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,762 | €14,543 | -€219 | -1.5% |
| Other operating charges | 640/8 | €3,545 | €4,509 | +€964 | +27.2% |
| Non-recurring operating charges | 66A | €3,000 | €0 | -€3,000 | -100% |
| Gross operating margin | 9900 | €135,275 | €201,422 | +€66,146 | +48.9% |
| Operating profit (loss) | 9901 | €113,999 | €182,370 | +€68,371 | +60.0% |
| Financial income | 75/76B | €6,390 | €5,668 | -€723 | -11.3% |
| Recurring financial income | 75 | €6,390 | €5,668 | -€723 | -11.3% |
| Financial charges | 65/66B | €15,000 | €236 | -€14,764 | -98.4% |
| Recurring financial charges | 65 | €15,000 | €236 | -€14,764 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €105,389 | €187,801 | +€82,412 | +78.2% |
| Income taxes | 67/77 | €35,458 | €60,978 | +€25,520 | +72.0% |
| Profit (loss) for the period | 9904 | €69,931 | €126,823 | +€56,892 | +81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,931 | €126,823 | +€56,892 | +81.4% |
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.