Dr. Erik Ranschaert: 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. Erik Ranschaert
Largest movements
- Cash +€61,138
up €61,138 (+183%), from €33,448 to €94,587
mainly Net result for the year (+€74,084) and Depreciation (+€20,365)
- Receivables after one year +€25,000
up €25,000 (+83.3%), from €30,000 to €55,000
- Current investments +€24,011
new in 2025: €24,011
- Tangible fixed assets -€20,365
down €20,365 (-33.5%), from €60,816 to €40,452
of which Furniture and vehicles: -€18,552
- Receivables within one year -€17,202
down €17,202 (-13.2%), from €130,705 to €113,503
of which Trade receivables: -€11,625
- Reserves +€74,084
up €74,084 (+36.3%), from €204,229 to €278,314
of which Distributable reserves: +€74,084
- Debts after one year -€10,487
down €10,487 (-74.5%), from €14,079 to €3,592
- Trade debts +€5,441
up €5,441 (+227%), from €2,401 to €7,843
- Gross operating margin +€40,111
up €40,111 (+46.7%), from €85,921 to €126,032
- Taxes +€12,141
up €12,141 (+66.8%), from €18,176 to €30,318
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 | €255,779 | €331,023 | +€75,244 | +29.4% |
| Fixed assets | 21/28 | €60,816 | €40,452 | -€20,365 | -33.5% |
| Tangible fixed assets | 22/27 | €60,816 | €40,452 | -€20,365 | -33.5% |
| Plant, machinery and equipment | 23 | €4,110 | €2,297 | -€1,812 | -44.1% |
| Furniture and vehicles | 24 | €56,707 | €38,155 | -€18,552 | -32.7% |
| Current assets | 29/58 | €194,963 | €290,571 | +€95,608 | +49.0% |
| Amounts receivable after more than one year | 29 | €30,000 | €55,000 | +€25,000 | +83.3% |
| Other amounts receivable | 291 | €30,000 | €55,000 | +€25,000 | +83.3% |
| Amounts receivable within one year | 40/41 | €130,705 | €113,503 | -€17,202 | -13.2% |
| Trade receivables | 40 | €119,538 | €107,913 | -€11,625 | -9.7% |
| Other amounts receivable | 41 | €11,168 | €5,591 | -€5,577 | -49.9% |
| Current investments | 50/53 | - | €24,011 | +€24,011 | |
| Cash at bank and in hand | 54/58 | €33,448 | €94,587 | +€61,138 | +183% |
| Deferred charges and accrued income | 490/1 | €809 | €3,470 | +€2,661 | +329% |
| Total equity and liabilities | 10/49 | €255,779 | €331,023 | +€75,244 | +29.4% |
| Equity | 10/15 | €222,829 | €296,914 | +€74,084 | +33.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €204,229 | €278,314 | +€74,084 | +36.3% |
| Tax-exempt reserves | 132 | €10,766 | €10,766 | = | 0.0% |
| Distributable reserves | 133 | €193,463 | €267,547 | +€74,084 | +38.3% |
| Amounts payable | 17/49 | €32,950 | €34,109 | +€1,160 | +3.5% |
| Amounts payable after more than one year | 17 | €14,079 | €3,592 | -€10,487 | -74.5% |
| Financial debts | 170/4 | €14,079 | €3,592 | -€10,487 | -74.5% |
| Amounts payable within one year | 42/48 | €18,870 | €30,517 | +€11,647 | +61.7% |
| Current portion of amounts payable after more than one year | 42 | €10,059 | €10,493 | +€434 | +4.3% |
| Trade debts | 44 | €2,401 | €7,843 | +€5,441 | +227% |
| Suppliers | 440/4 | €2,401 | €7,843 | +€5,441 | +227% |
| Taxes, remuneration and social security | 45 | €4,409 | €7,408 | +€3,000 | +68.0% |
| Taxes | 450/3 | €4,409 | €7,408 | +€3,000 | +68.0% |
| Other amounts payable | 47/48 | €2,002 | €4,773 | +€2,772 | +138% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,003 | €20,365 | +€361 | +1.8% |
| Other operating charges | 640/8 | €2,471 | €1,585 | -€887 | -35.9% |
| Gross operating margin | 9900 | €85,921 | €126,032 | +€40,111 | +46.7% |
| Operating profit (loss) | 9901 | €63,446 | €104,083 | +€40,637 | +64.0% |
| Financial income | 75/76B | €750 | €1,286 | +€536 | +71.5% |
| Recurring financial income | 75 | €750 | €1,286 | +€536 | +71.5% |
| Financial charges | 65/66B | €1,932 | €967 | -€965 | -49.9% |
| Recurring financial charges | 65 | €1,932 | €967 | -€965 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €62,264 | €104,402 | +€42,138 | +67.7% |
| Income taxes | 67/77 | €18,176 | €30,318 | +€12,141 | +66.8% |
| Profit (loss) for the period | 9904 | €44,087 | €74,084 | +€29,997 | +68.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,087 | €74,084 | +€29,997 | +68.0% |
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 31 October 2026 via checked.be.