Dr Eva Roofthooft: 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 Eva Roofthooft
Largest movements
- Receivables within one year -€169,786
down €169,786 (-79.4%), from €213,888 to €44,103
of which Other amounts receivable: -€193,980
- Tangible fixed assets +€72,962
up €72,962 (+10.8%), from €672,883 to €745,845
of which Land and buildings: +€45,540
- Cash -€29,148
down €29,148 (-39.1%), from €74,518 to €45,370
mainly Contributions, distributions and other (-€194,612) and Investment in fixed assets (net) (-€126,363)
- Reserves -€106,300
down €106,300 (-14.8%), from €718,790 to €612,490
of which Distributable reserves: -€106,300
- Debts after one year -€33,535
down €33,535 (-19.1%), from €175,120 to €141,585
- Other debts +€12,336
new in 2025: €12,336
- Gross operating margin +€14,622
up €14,622 (+8.2%), from €177,513 to €192,135
- Other operating charges +€12,729
up €12,729 (+278.3%), from €4,574 to €17,303
- Depreciation +€5,959
up €5,959 (+12.6%), from €47,442 to €53,401
- Financial income +€5,085
up €5,085 (+62.8%), from €8,097 to €13,182
- Taxes -€2,657
down €2,657 (-6.5%), from €40,751 to €38,094
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.
Cash bridge derived
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 | €961,889 | €835,917 | -€125,971 | -13.1% |
| Fixed assets | 21/28 | €673,483 | €746,445 | +€72,962 | +10.8% |
| Tangible fixed assets | 22/27 | €672,883 | €745,845 | +€72,962 | +10.8% |
| Land and buildings | 22 | €658,827 | €704,367 | +€45,540 | +6.9% |
| Plant, machinery and equipment | 23 | €5,802 | €3,363 | -€2,438 | -42.0% |
| Furniture and vehicles | 24 | €8,254 | €38,115 | +€29,861 | +361.8% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €288,406 | €89,472 | -€198,934 | -69.0% |
| Amounts receivable within one year | 40/41 | €213,888 | €44,103 | -€169,786 | -79.4% |
| Trade receivables | 40 | €6,738 | €30,932 | +€24,195 | +359.1% |
| Other amounts receivable | 41 | €207,151 | €13,171 | -€193,980 | -93.6% |
| Cash at bank and in hand | 54/58 | €74,518 | €45,370 | -€29,148 | -39.1% |
| Total equity and liabilities | 10/49 | €961,889 | €835,917 | -€125,971 | -13.1% |
| Equity | 10/15 | €731,190 | €624,890 | -€106,300 | -14.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €718,790 | €612,490 | -€106,300 | -14.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €716,930 | €610,630 | -€106,300 | -14.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €230,699 | €211,027 | -€19,672 | -8.5% |
| Amounts payable after more than one year | 17 | €175,120 | €141,585 | -€33,535 | -19.1% |
| Financial debts | 170/4 | €175,120 | €141,585 | -€33,535 | -19.1% |
| Amounts payable within one year | 42/48 | €55,579 | €69,443 | +€13,864 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €32,234 | €33,535 | +€1,302 | +4.0% |
| Trade debts | 44 | €6,278 | €8,730 | +€2,452 | +39.1% |
| Suppliers | 440/4 | €6,278 | €8,730 | +€2,452 | +39.1% |
| Taxes, remuneration and social security | 45 | €17,067 | €14,841 | -€2,226 | -13.0% |
| Taxes | 450/3 | €17,067 | €14,841 | -€2,226 | -13.0% |
| Other amounts payable | 47/48 | - | €12,336 | +€12,336 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,442 | €53,401 | +€5,959 | +12.6% |
| Other operating charges | 640/8 | €4,574 | €17,303 | +€12,729 | +278.3% |
| Gross operating margin | 9900 | €177,513 | €192,135 | +€14,622 | +8.2% |
| Operating profit (loss) | 9901 | €125,497 | €121,431 | -€4,067 | -3.2% |
| Financial income | 75/76B | €8,097 | €13,182 | +€5,085 | +62.8% |
| Recurring financial income | 75 | €8,097 | €13,182 | +€5,085 | +62.8% |
| Financial charges | 65/66B | €9,464 | €8,207 | -€1,257 | -13.3% |
| Recurring financial charges | 65 | €9,464 | €8,207 | -€1,257 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €124,130 | €126,406 | +€2,275 | +1.8% |
| Income taxes | 67/77 | €40,751 | €38,094 | -€2,657 | -6.5% |
| Profit (loss) for the period | 9904 | €83,380 | €88,312 | +€4,932 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €83,380 | €88,312 | +€4,932 | +5.9% |
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 12 October 2026 via checked.be.