Dr. Eva Simoens: 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 Simoens
Largest movements
- Cash +€110,064
up €110,064 (+97.1%), from €113,333 to €223,397
mainly Other debts (+€291,252) and Net result for the year (+€217,987)
- Deferred charges and accrued income -€26,200
down €26,200 (-89.1%), from €29,419 to €3,220
- Tangible fixed assets -€15,664
down €15,664 (-4.9%), from €317,337 to €301,673
of which Land and buildings: -€12,011
- Other debts +€291,252
up €291,252 (+147%), from €197,909 to €489,161
- Reserves -€196,586
down €196,586 (-99.1%), from €198,446 to €1,860
of which Distributable reserves: -€196,586
- Debts after one year -€24,299
down €24,299 (-14.1%), from €171,901 to €147,601
- Gross operating margin +€23,080
up €23,080 (+7.7%), from €301,077 to €324,157
- Taxes +€8,676
up €8,676 (+14.0%), from €61,779 to €70,455
- Other operating charges -€6,863
down €6,863 (-90.6%), from €7,575 to €712
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 | €631,651 | €700,030 | +€68,378 | +10.8% |
| Fixed assets | 21/28 | €317,337 | €301,673 | -€15,664 | -4.9% |
| Tangible fixed assets | 22/27 | €317,337 | €301,673 | -€15,664 | -4.9% |
| Land and buildings | 22 | €268,282 | €256,271 | -€12,011 | -4.5% |
| Plant, machinery and equipment | 23 | €32,011 | €27,904 | -€4,107 | -12.8% |
| Furniture and vehicles | 24 | €17,044 | €17,498 | +€453 | +2.7% |
| Current assets | 29/58 | €314,314 | €398,357 | +€84,043 | +26.7% |
| Amounts receivable within one year | 40/41 | €171,562 | €171,740 | +€178 | +0.1% |
| Trade receivables | 40 | €160,093 | €0 | -€160,093 | -100% |
| Other amounts receivable | 41 | €11,469 | €171,740 | +€160,271 | +1,397% |
| Cash at bank and in hand | 54/58 | €113,333 | €223,397 | +€110,064 | +97.1% |
| Deferred charges and accrued income | 490/1 | €29,419 | €3,220 | -€26,200 | -89.1% |
| Total equity and liabilities | 10/49 | €631,651 | €700,030 | +€68,378 | +10.8% |
| Equity | 10/15 | €217,046 | €20,460 | -€196,586 | -90.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €198,446 | €1,860 | -€196,586 | -99.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €198,446 | €1,860 | -€196,586 | -99.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €414,605 | €679,570 | +€264,964 | +63.9% |
| Amounts payable after more than one year | 17 | €171,901 | €147,601 | -€24,299 | -14.1% |
| Financial debts | 170/4 | €171,901 | €147,601 | -€24,299 | -14.1% |
| Amounts payable within one year | 42/48 | €232,303 | €522,252 | +€289,949 | +125% |
| Current portion of amounts payable after more than one year | 42 | €23,883 | €24,299 | +€416 | +1.7% |
| Trade debts | 44 | €6,311 | €3,705 | -€2,607 | -41.3% |
| Suppliers | 440/4 | €6,311 | €3,705 | -€2,607 | -41.3% |
| Taxes, remuneration and social security | 45 | €4,200 | €5,087 | +€887 | +21.1% |
| Taxes | 450/3 | €1,300 | €2,187 | +€887 | +68.3% |
| Remuneration and social security | 454/9 | €2,900 | €2,900 | = | 0.0% |
| Other amounts payable | 47/48 | €197,909 | €489,161 | +€291,252 | +147% |
| Accrued charges and deferred income | 492/3 | €10,401 | €9,717 | -€685 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,856 | €19,672 | +€817 | +4.3% |
| Other operating charges | 640/8 | €7,575 | €712 | -€6,863 | -90.6% |
| Gross operating margin | 9900 | €301,077 | €324,157 | +€23,080 | +7.7% |
| Operating profit (loss) | 9901 | €274,647 | €303,772 | +€29,126 | +10.6% |
| Financial income | 75/76B | €102 | €0 | -€102 | -100% |
| Recurring financial income | 75 | €102 | €0 | -€102 | -100% |
| Financial charges | 65/66B | €16,383 | €15,331 | -€1,053 | -6.4% |
| Recurring financial charges | 65 | €16,383 | €15,331 | -€1,053 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €258,365 | €288,442 | +€30,076 | +11.6% |
| Income taxes | 67/77 | €61,779 | €70,455 | +€8,676 | +14.0% |
| Profit (loss) for the period | 9904 | €196,586 | €217,987 | +€21,401 | +10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €196,586 | €217,987 | +€21,401 | +10.9% |
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 28 October 2026 via checked.be.