Dr. Ellen Rummens: what changed
Dr. Ellen Rummens
Largest movements
- Cash +€80,389
up €80,389 (+394%), from €20,390 to €100,780
mainly Net result for the year (+€141,480) and Tax, wage and social debts (+€22,941)
- Current investments +€29,000
new in 2025: €29,000
- Receivables within one year +€9,174
up €9,174, from €0 to €9,174
of which Other amounts receivable: +€8,952
- Tangible fixed assets -€6,369
down €6,369 (-1.5%), from €428,037 to €421,668
of which Furniture and vehicles: -€17,916
- Reserves +€141,480
up €141,480 (+166%), from €85,319 to €226,799
- Debts after one year -€36,229
down €36,229 (-11.2%), from €324,318 to €288,088
- Tax, wage and social debts +€22,941
up €22,941 (+439%), from €5,222 to €28,163
- Current portion of long-term debt -€10,098
down €10,098 (-37.7%), from €26,765 to €16,667
- Gross operating margin +€125,729
up €125,729 (+139%), from €90,311 to €216,040
- Taxes +€25,441
up €25,441 (+200%), from €12,722 to €38,163
- Other operating charges +€5,979
up €5,979 (+1,139%), from €525 to €6,504
- Depreciation -€5,100
down €5,100 (-22.7%), from €22,488 to €17,389
- Financial charges +€2,165
up €2,165 (+34.1%), from €6,340 to €8,505
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €451,720 | €567,249 | +€115,528 | +25.6% |
| Fixed assets | 21/28 | €428,037 | €421,668 | -€6,369 | -1.5% |
| Tangible fixed assets | 22/27 | €428,037 | €421,668 | -€6,369 | -1.5% |
| Land and buildings | 22 | €399,471 | €402,054 | +€2,583 | +0.6% |
| Plant, machinery and equipment | 23 | - | €8,963 | +€8,963 | |
| Furniture and vehicles | 24 | €28,566 | €10,650 | -€17,916 | -62.7% |
| Current assets | 29/58 | €23,683 | €145,581 | +€121,898 | +515% |
| Amounts receivable within one year | 40/41 | €0 | €9,174 | +€9,174 | |
| Trade receivables | 40 | €0 | €221 | +€221 | |
| Other amounts receivable | 41 | - | €8,952 | +€8,952 | |
| Current investments | 50/53 | - | €29,000 | +€29,000 | |
| Cash at bank and in hand | 54/58 | €20,390 | €100,780 | +€80,389 | +394% |
| Deferred charges and accrued income | 490/1 | €3,292 | €6,627 | +€3,335 | +101% |
| Total equity and liabilities | 10/49 | €451,720 | €567,249 | +€115,528 | +25.6% |
| Equity | 10/15 | €87,319 | €228,799 | +€141,480 | +162% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €85,319 | €226,799 | +€141,480 | +166% |
| Distributable reserves | 133 | €85,319 | €226,799 | +€141,480 | +166% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €364,401 | €338,450 | -€25,951 | -7.1% |
| Amounts payable after more than one year | 17 | €324,318 | €288,088 | -€36,229 | -11.2% |
| Financial debts | 170/4 | €324,318 | €288,088 | -€36,229 | -11.2% |
| Amounts payable within one year | 42/48 | €37,978 | €48,306 | +€10,328 | +27.2% |
| Current portion of amounts payable after more than one year | 42 | €26,765 | €16,667 | -€10,098 | -37.7% |
| Trade debts | 44 | €4,071 | €3,476 | -€594 | -14.6% |
| Suppliers | 440/4 | €4,071 | €3,476 | -€594 | -14.6% |
| Taxes, remuneration and social security | 45 | €5,222 | €28,163 | +€22,941 | +439% |
| Taxes | 450/3 | €5,222 | €28,163 | +€22,941 | +439% |
| Other amounts payable | 47/48 | €1,920 | €0 | -€1,920 | -100% |
| Accrued charges and deferred income | 492/3 | €2,105 | €2,055 | -€50 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,488 | €17,389 | -€5,100 | -22.7% |
| Other operating charges | 640/8 | €525 | €6,504 | +€5,979 | +1,139% |
| Non-recurring operating charges | 66A | - | €4,000 | +€4,000 | |
| Gross operating margin | 9900 | €90,311 | €216,040 | +€125,729 | +139% |
| Operating profit (loss) | 9901 | €67,298 | €188,147 | +€120,849 | +180% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100% |
| Financial charges | 65/66B | €6,340 | €8,505 | +€2,165 | +34.1% |
| Recurring financial charges | 65 | €6,340 | €8,505 | +€2,165 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €60,962 | €179,642 | +€118,680 | +195% |
| Income taxes | 67/77 | €12,722 | €38,163 | +€25,441 | +200% |
| Profit (loss) for the period | 9904 | €48,241 | €141,480 | +€93,239 | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €48,241 | €141,480 | +€93,239 | +193% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.