DR. E. VANDEN BROECKE: 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. VANDEN BROECKE
Largest movements
- Cash +€55,805
up €55,805 (+33.5%), from €166,691 to €222,495
mainly Net result for the year (+€85,789) and Other debts (+€34,807)
- Receivables within one year -€3,695
down €3,695 (-30.8%), from €11,989 to €8,293
of which Other amounts receivable: -€3,865
- Reserves +€85,789
up €85,789 (+107%), from €80,345 to €166,133
of which Distributable reserves: +€85,789
- Profit (loss) carried forward -€49,724
down €49,724 (-100%), from €49,724 to €0
- Other debts +€34,807
up €34,807, from €0 to €34,807
- Trade debts -€10,781
down €10,781 (-100%), from €10,781 to €0
- Tax, wage and social debts -€4,994
down €4,994 (-11.8%), from €42,270 to €37,276
of which Taxes: -€4,994
- Gross operating margin +€7,806
up €7,806 (+6.3%), from €124,709 to €132,515
- Financial income -€1,899
down €1,899 (-57.2%), from €3,322 to €1,423
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 | €191,176 | €246,273 | +€55,097 | +28.8% |
| Fixed assets | 21/28 | €7,214 | €9,173 | +€1,959 | +27.2% |
| Tangible fixed assets | 22/27 | €6,818 | €8,777 | +€1,959 | +28.7% |
| Land and buildings | 22 | €6,818 | €6,113 | -€704 | -10.3% |
| Plant, machinery and equipment | 23 | - | €1,207 | +€1,207 | |
| Furniture and vehicles | 24 | - | €1,456 | +€1,456 | |
| Financial fixed assets | 28 | €397 | €397 | = | 0.0% |
| Current assets | 29/58 | €183,962 | €237,099 | +€53,138 | +28.9% |
| Amounts receivable within one year | 40/41 | €11,989 | €8,293 | -€3,695 | -30.8% |
| Trade receivables | 40 | - | €170 | +€170 | |
| Other amounts receivable | 41 | €11,989 | €8,124 | -€3,865 | -32.2% |
| Cash at bank and in hand | 54/58 | €166,691 | €222,495 | +€55,805 | +33.5% |
| Deferred charges and accrued income | 490/1 | €5,282 | €6,311 | +€1,028 | +19.5% |
| Total equity and liabilities | 10/49 | €191,176 | €246,273 | +€55,097 | +28.8% |
| Equity | 10/15 | €138,125 | €174,190 | +€36,065 | +26.1% |
| Contributions | 10/11 | €8,057 | €8,057 | = | 0.0% |
| Reserves | 13 | €80,345 | €166,133 | +€85,789 | +107% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €80,345 | €166,133 | +€85,789 | +107% |
| Profit (loss) carried forward | 14 | €49,724 | €0 | -€49,724 | -100% |
| Amounts payable | 17/49 | €53,051 | €72,083 | +€19,032 | +35.9% |
| Amounts payable within one year | 42/48 | €53,051 | €72,083 | +€19,032 | +35.9% |
| Trade debts | 44 | €10,781 | €0 | -€10,781 | -100% |
| Suppliers | 440/4 | €10,781 | €0 | -€10,781 | -100% |
| Taxes, remuneration and social security | 45 | €42,270 | €37,276 | -€4,994 | -11.8% |
| Taxes | 450/3 | €42,270 | €37,276 | -€4,994 | -11.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €34,807 | +€34,807 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €704 | €1,193 | +€489 | +69.4% |
| Other operating charges | 640/8 | €4,315 | €4,433 | +€117 | +2.7% |
| Gross operating margin | 9900 | €124,709 | €132,515 | +€7,806 | +6.3% |
| Operating profit (loss) | 9901 | €119,690 | €126,889 | +€7,199 | +6.0% |
| Financial income | 75/76B | €3,322 | €1,423 | -€1,899 | -57.2% |
| Recurring financial income | 75 | €3,322 | €1,423 | -€1,899 | -57.2% |
| Financial charges | 65/66B | €397 | €407 | +€10 | +2.5% |
| Recurring financial charges | 65 | €397 | €407 | +€10 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €122,614 | €127,904 | +€5,290 | +4.3% |
| Income taxes | 67/77 | €42,270 | €42,116 | -€154 | -0.4% |
| Profit (loss) for the period | 9904 | €80,345 | €85,789 | +€5,444 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,345 | €85,789 | +€5,444 | +6.8% |
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 24 October 2026 via checked.be.