Dr. ERIK BUELENS: what changed
What changed
Dr. ERIK BUELENS
filed annual accounts (NBB)
Net result for the year
€341,448
2024 · €303,328+€38,120
Equity
€1.6m
2024 · €1.4m+€206,448
Cash
€621,742
2024 · €270,208+€351,534
Balance sheet total
€1.7m
2024 · €1.5m+€197,778
Largest movements
Assets
- Cash +€351,534
up €351,534 (+130%), from €270,208 to €621,742
mainly Net result for the year (+€341,448) and Current investments (+€116,205)
- Current investments -€116,205
down €116,205 (-11.1%), from €1.0m to €926,079
- Receivables within one year -€37,470
down €37,470 (-19.6%), from €191,185 to €153,715
Equity and liabilities
- Reserves +€206,000
up €206,000 (+14.5%), from €1.4m to €1.6m
of which Distributable reserves: +€206,000
Income statement
- Gross operating margin +€41,511
up €41,511 (+9.7%), from €429,271 to €470,783
- Taxes +€17,766
up €17,766 (+13.1%), from €135,391 to €153,158
- Financial income +€14,372
up €14,372 (+83.2%), from €17,279 to €31,651
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.
Result 2024
€303,328
Gross operating margin
+€41,511
Depreciation
+€4,297
Other operating charges
-€37
Financial income
+€14,372
Financial charges
-€4,256
Taxes
-€17,766
Result 2025
€341,448
raises the resultlowers the result
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.
From operations
+€372,146
Investment
+€114,388
Financing
-€135,000
Cash 2024
€270,208
From operations (derived)
+€372,146
Net result for the year
+€341,448
Depreciation
+€1,926
Receivables within one year
+€37,470
Deferred charges and accrued income
-€28
Trade debts
+€1,040
Tax, wage and social debts
-€9,710
Investment (derived)
+€114,388
Investment in fixed assets (net)
-€1,818
Current investments
+€116,205
Financing
-€135,000
Contributions, distributions and other
-€135,000
Cash 2025
€621,742
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,506,528 | €1,704,306 | +€197,778 | +13.1% |
| Fixed assets | 21/28 | €1,760 | €1,651 | -€108 | -6.2% |
| Tangible fixed assets | 22/27 | €1,760 | €1,651 | -€108 | -6.2% |
| Furniture and vehicles | 24 | €1,760 | €1,651 | -€108 | -6.2% |
| Current assets | 29/58 | €1,504,769 | €1,702,655 | +€197,886 | +13.2% |
| Amounts receivable within one year | 40/41 | €191,185 | €153,715 | -€37,470 | -19.6% |
| Other amounts receivable | 41 | €191,185 | €153,715 | -€37,470 | -19.6% |
| Current investments | 50/53 | €1,042,284 | €926,079 | -€116,205 | -11.1% |
| Cash at bank and in hand | 54/58 | €270,208 | €621,742 | +€351,534 | +130% |
| Deferred charges and accrued income | 490/1 | €1,091 | €1,120 | +€28 | +2.6% |
| Total equity and liabilities | 10/49 | €1,506,528 | €1,704,306 | +€197,778 | +13.1% |
| Equity | 10/15 | €1,442,553 | €1,649,001 | +€206,448 | +14.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,422,066 | €1,628,066 | +€206,000 | +14.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,422,066 | €1,628,066 | +€206,000 | +14.5% |
| Profit (loss) carried forward | 14 | €8,087 | €8,535 | +€448 | +5.5% |
| Amounts payable | 17/49 | €63,976 | €55,305 | -€8,670 | -13.6% |
| Amounts payable within one year | 42/48 | €63,976 | €55,305 | -€8,670 | -13.6% |
| Trade debts | 44 | €330 | €1,370 | +€1,040 | +315% |
| Suppliers | 440/4 | €330 | €1,370 | +€1,040 | +315% |
| Taxes, remuneration and social security | 45 | €63,646 | €53,936 | -€9,710 | -15.3% |
| Taxes | 450/3 | €63,646 | €53,936 | -€9,710 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,223 | €1,926 | -€4,297 | -69.0% |
| Other operating charges | 640/8 | €2,062 | €2,100 | +€37 | +1.8% |
| Gross operating margin | 9900 | €429,271 | €470,783 | +€41,511 | +9.7% |
| Operating profit (loss) | 9901 | €420,986 | €466,757 | +€45,770 | +10.9% |
| Financial income | 75/76B | €17,279 | €31,651 | +€14,372 | +83.2% |
| Recurring financial income | 75 | €17,279 | €31,651 | +€14,372 | +83.2% |
| Financial charges | 65/66B | -€454 | €3,801 | +€4,256 | |
| Recurring financial charges | 65 | -€454 | €3,801 | +€4,256 | |
| Profit (loss) for the period before taxes | 9903 | €438,720 | €494,606 | +€55,887 | +12.7% |
| Income taxes | 67/77 | €135,391 | €153,158 | +€17,766 | +13.1% |
| Profit (loss) for the period | 9904 | €303,328 | €341,448 | +€38,120 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €303,328 | €341,448 | +€38,120 | +12.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.