Dr. F. Vandercruysse: what changed
Dr. F. Vandercruysse
Largest movements
- Current investments +€37,000
up €37,000 (+69.7%), from €53,122 to €90,122
- Cash -€13,191
down €13,191 (-7.7%), from €171,342 to €158,152
mainly Contributions, distributions and other (-€46,000) and Current investments (-€37,000)
- Reserves +€45,256
up €45,256 (+18.7%), from €241,947 to €287,204
- Other debts -€27,616
down €27,616 (-88.3%), from €31,267 to €3,651
- Tax, wage and social debts +€9,363
up €9,363 (+108%), from €8,699 to €18,062
of which Remuneration and social security: +€5,031
- Gross operating margin +€37,022
up €37,022 (+48.0%), from €77,134 to €114,156
- Taxes +€5,259
up €5,259 (+31.9%), from €16,466 to €21,725
- Financial income +€2,375
up €2,375 (+437%), from €543 to €2,918
- Financial charges +€1,354
up €1,354 (+129%), from €1,050 to €2,404
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 | €306,557 | €333,561 | +€27,003 | +8.8% |
| Fixed assets | 21/28 | €5,765 | €8,050 | +€2,285 | +39.6% |
| Tangible fixed assets | 22/27 | €765 | - | -€765 | |
| Plant, machinery and equipment | 23 | €765 | - | -€765 | |
| Financial fixed assets | 28 | €5,000 | €8,050 | +€3,050 | +61.0% |
| Current assets | 29/58 | €300,792 | €325,511 | +€24,718 | +8.2% |
| Amounts receivable within one year | 40/41 | €75,028 | €75,937 | +€909 | +1.2% |
| Other amounts receivable | 41 | €75,028 | €75,937 | +€909 | +1.2% |
| Current investments | 50/53 | €53,122 | €90,122 | +€37,000 | +69.7% |
| Cash at bank and in hand | 54/58 | €171,342 | €158,152 | -€13,191 | -7.7% |
| Deferred charges and accrued income | 490/1 | €1,300 | €1,300 | = | 0.0% |
| Total equity and liabilities | 10/49 | €306,557 | €333,561 | +€27,003 | +8.8% |
| Equity | 10/15 | €260,497 | €305,754 | +€45,256 | +17.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €241,947 | €287,204 | +€45,256 | +18.7% |
| Distributable reserves | 133 | €241,947 | €287,204 | +€45,256 | +18.7% |
| Amounts payable | 17/49 | €46,060 | €27,807 | -€18,253 | -39.6% |
| Amounts payable within one year | 42/48 | €40,010 | €21,757 | -€18,253 | -45.6% |
| Trade debts | 44 | €44 | €44 | = | 0.0% |
| Suppliers | 440/4 | €44 | €44 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,699 | €18,062 | +€9,363 | +108% |
| Taxes | 450/3 | €8,699 | €13,031 | +€4,332 | +49.8% |
| Remuneration and social security | 454/9 | - | €5,031 | +€5,031 | |
| Other amounts payable | 47/48 | €31,267 | €3,651 | -€27,616 | -88.3% |
| Accrued charges and deferred income | 492/3 | €6,050 | €6,050 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,148 | €765 | -€383 | -33.3% |
| Other operating charges | 640/8 | €126 | €924 | +€798 | +633% |
| Gross operating margin | 9900 | €77,134 | €114,156 | +€37,022 | +48.0% |
| Operating profit (loss) | 9901 | €75,861 | €112,467 | +€36,606 | +48.3% |
| Financial income | 75/76B | €543 | €2,918 | +€2,375 | +437% |
| Recurring financial income | 75 | €543 | €2,918 | +€2,375 | +437% |
| Financial charges | 65/66B | €1,050 | €2,404 | +€1,354 | +129% |
| Recurring financial charges | 65 | €1,050 | €2,404 | +€1,354 | +129% |
| Profit (loss) for the period before taxes | 9903 | €75,354 | €112,981 | +€37,628 | +49.9% |
| Income taxes | 67/77 | €16,466 | €21,725 | +€5,259 | +31.9% |
| Profit (loss) for the period | 9904 | €58,888 | €91,256 | +€32,369 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,888 | €91,256 | +€32,369 | +55.0% |
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 5 November 2026 via checked.be.