Dr. Francis STAMMEN: what changed
Dr. Francis STAMMEN
Largest movements
- Cash +€148,892
up €148,892 (+66.8%), from €222,935 to €371,827
mainly Net result for the year (+€246,256) and Receivables within one year (+€137,289)
- Receivables within one year -€137,289
down €137,289 (-100%), from €137,289 to €0
of which Other amounts receivable: -€136,883
- Current investments -€123,683
down €123,683 (-16.5%), from €751,080 to €627,397
- Deferred charges and accrued income +€19,640
up €19,640 (+416%), from €4,718 to €24,358
- Other debts -€187,765
down €187,765 (-47.9%), from €391,766 to €204,001
- Reserves +€92,532
up €92,532 (+9.5%), from €972,626 to €1.1m
- Tax, wage and social debts +€14,557
new in 2025: €14,557
- Gross operating margin +€71,720
up €71,720 (+23.1%), from €310,043 to €381,762
- Taxes +€15,954
up €15,954 (+15.4%), from €103,363 to €119,317
- Financial charges +€8,145
up €8,145 (+1,084%), from €751 to €8,896
- Depreciation +€6,523
up €6,523 (+50.4%), from €12,935 to €19,458
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 | €1,383,042 | €1,302,596 | -€80,445 | -5.8% |
| Fixed assets | 21/28 | €267,019 | €279,014 | +€11,995 | +4.5% |
| Tangible fixed assets | 22/27 | €267,019 | €279,014 | +€11,995 | +4.5% |
| Land and buildings | 22 | €165,039 | €160,877 | -€4,163 | -2.5% |
| Plant, machinery and equipment | 23 | €101,980 | €101,980 | = | 0.0% |
| Furniture and vehicles | 24 | €0 | €16,158 | +€16,158 | |
| Current assets | 29/58 | €1,116,023 | €1,023,582 | -€92,441 | -8.3% |
| Amounts receivable within one year | 40/41 | €137,289 | €0 | -€137,289 | -100% |
| Trade receivables | 40 | €406 | €0 | -€406 | -100% |
| Other amounts receivable | 41 | €136,883 | €0 | -€136,883 | -100% |
| Current investments | 50/53 | €751,080 | €627,397 | -€123,683 | -16.5% |
| Cash at bank and in hand | 54/58 | €222,935 | €371,827 | +€148,892 | +66.8% |
| Deferred charges and accrued income | 490/1 | €4,718 | €24,358 | +€19,640 | +416% |
| Total equity and liabilities | 10/49 | €1,383,042 | €1,302,596 | -€80,445 | -5.8% |
| Equity | 10/15 | €991,226 | €1,083,758 | +€92,532 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €972,626 | €1,065,158 | +€92,532 | +9.5% |
| Distributable reserves | 133 | €972,626 | €1,065,158 | +€92,532 | +9.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €391,816 | €218,838 | -€172,978 | -44.1% |
| Amounts payable within one year | 42/48 | €391,816 | €218,838 | -€172,978 | -44.1% |
| Trade debts | 44 | €50 | €280 | +€230 | +460% |
| Suppliers | 440/4 | €50 | €280 | +€230 | +460% |
| Taxes, remuneration and social security | 45 | - | €14,557 | +€14,557 | |
| Taxes | 450/3 | - | €14,557 | +€14,557 | |
| Other amounts payable | 47/48 | €391,766 | €204,001 | -€187,765 | -47.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,935 | €19,458 | +€6,523 | +50.4% |
| Other operating charges | 640/8 | €4,726 | €4,657 | -€69 | -1.5% |
| Gross operating margin | 9900 | €310,043 | €381,762 | +€71,720 | +23.1% |
| Operating profit (loss) | 9901 | €292,382 | €357,647 | +€65,265 | +22.3% |
| Financial income | 75/76B | €14,926 | €16,822 | +€1,896 | +12.7% |
| Recurring financial income | 75 | €14,926 | €16,822 | +€1,896 | +12.7% |
| Financial charges | 65/66B | €751 | €8,896 | +€8,145 | +1,084% |
| Recurring financial charges | 65 | €751 | €8,896 | +€8,145 | +1,084% |
| Profit (loss) for the period before taxes | 9903 | €306,557 | €365,573 | +€59,017 | +19.3% |
| Income taxes | 67/77 | €103,363 | €119,317 | +€15,954 | +15.4% |
| Profit (loss) for the period | 9904 | €203,193 | €246,256 | +€43,062 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €203,193 | €246,256 | +€43,062 | +21.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.