Dr. Fonteyn: what changed
What changed
Dr. Fonteyn
filed annual accounts (NBB)
Net result for the year
€73,669
2024 · €77,975-€4,306
Equity
€461,422
2024 · €493,653-€32,231
Cash
€211,979
2024 · €240,498-€28,519
Balance sheet total
€821,550
2024 · €852,874-€31,324
Largest movements
Assets
- Cash -€28,519
down €28,519 (-11.9%), from €240,498 to €211,979
mainly Contributions, distributions and other (-€105,900) and Investment in fixed assets (net) (-€34,884)
Equity and liabilities
- Reserves -€32,240
down €32,240 (-6.7%), from €479,960 to €447,720
- Other debts +€24,946
up €24,946 (+32.1%), from €77,819 to €102,765
- Debts after one year -€18,091
down €18,091 (-7.2%), from €251,895 to €233,804
Income statement
- Gross operating margin -€4,261
down €4,261 (-2.9%), from €147,119 to €142,859
- Depreciation +€3,976
up €3,976 (+12.4%), from €32,010 to €35,986
- Taxes -€2,482
down €2,482 (-8.0%), from €31,097 to €28,615
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
€77,975
Gross operating margin
-€4,261
Depreciation
-€3,976
Other operating charges
+€747
Financial income
+€658
Financial charges
+€43
Taxes
+€2,482
Result 2025
€73,669
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
+€130,153
Investment
-€34,884
Financing
-€123,788
Cash 2024
€240,498
From operations (derived)
+€130,153
Net result for the year
+€73,669
Depreciation
+€35,986
Receivables within one year
+€2,574
Deferred charges and accrued income
-€871
Trade debts
-€6,151
Other debts
+€24,946
Investment (derived)
-€34,884
Investment in fixed assets (net)
-€34,884
Financing
-€123,788
Debts after one year
-€18,091
Current portion of long-term debt
+€203
Contributions, distributions and other
-€105,900
Cash 2025
€211,979
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €852,874 | €821,550 | -€31,324 | -3.7% |
| Fixed assets | 21/28 | €543,089 | €541,987 | -€1,102 | -0.2% |
| Tangible fixed assets | 22/27 | €543,044 | €541,942 | -€1,102 | -0.2% |
| Land and buildings | 22 | €511,684 | €523,434 | +€11,750 | +2.3% |
| Plant, machinery and equipment | 23 | €3,633 | €2,663 | -€970 | -26.7% |
| Furniture and vehicles | 24 | €27,727 | €15,845 | -€11,882 | -42.9% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €309,785 | €279,563 | -€30,222 | -9.8% |
| Amounts receivable within one year | 40/41 | €3,136 | €562 | -€2,574 | -82.1% |
| Other amounts receivable | 41 | €3,136 | €562 | -€2,574 | -82.1% |
| Cash at bank and in hand | 54/58 | €240,498 | €211,979 | -€28,519 | -11.9% |
| Deferred charges and accrued income | 490/1 | €66,151 | €67,022 | +€871 | +1.3% |
| Total equity and liabilities | 10/49 | €852,874 | €821,550 | -€31,324 | -3.7% |
| Equity | 10/15 | €493,653 | €461,422 | -€32,231 | -6.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €479,960 | €447,720 | -€32,240 | -6.7% |
| Non-distributable reserves | 130/1 | €479,960 | €447,720 | -€32,240 | -6.7% |
| Reserves not available under the articles | 1311 | €479,960 | €447,720 | -€32,240 | -6.7% |
| Profit (loss) carried forward | 14 | €1,293 | €1,302 | +€9 | +0.7% |
| Amounts payable | 17/49 | €359,221 | €360,129 | +€908 | +0.3% |
| Amounts payable after more than one year | 17 | €251,895 | €233,804 | -€18,091 | -7.2% |
| Financial debts | 170/4 | €251,895 | €233,804 | -€18,091 | -7.2% |
| Amounts payable within one year | 42/48 | €107,327 | €126,325 | +€18,998 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €17,888 | €18,091 | +€203 | +1.1% |
| Trade debts | 44 | €7,770 | €1,619 | -€6,151 | -79.2% |
| Suppliers | 440/4 | €7,770 | €1,619 | -€6,151 | -79.2% |
| Taxes, remuneration and social security | 45 | €3,850 | €3,850 | = | 0.0% |
| Remuneration and social security | 454/9 | €3,850 | €3,850 | = | 0.0% |
| Other amounts payable | 47/48 | €77,819 | €102,765 | +€24,946 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,010 | €35,986 | +€3,976 | +12.4% |
| Other operating charges | 640/8 | €2,933 | €2,186 | -€747 | -25.5% |
| Gross operating margin | 9900 | €147,119 | €142,859 | -€4,261 | -2.9% |
| Operating profit (loss) | 9901 | €112,176 | €104,686 | -€7,489 | -6.7% |
| Financial income | 75/76B | €275 | €933 | +€658 | +239% |
| Recurring financial income | 75 | €275 | €933 | +€658 | +239% |
| Financial charges | 65/66B | €3,379 | €3,336 | -€43 | -1.3% |
| Recurring financial charges | 65 | €3,379 | €3,336 | -€43 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €109,072 | €102,284 | -€6,788 | -6.2% |
| Income taxes | 67/77 | €31,097 | €28,615 | -€2,482 | -8.0% |
| Profit (loss) for the period | 9904 | €77,975 | €73,669 | -€4,306 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €77,975 | €73,669 | -€4,306 | -5.5% |
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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 1 November 2026 via checked.be.