DR. FRANK CLAESSENS: 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. FRANK CLAESSENS
Largest movements
- Deferred charges and accrued income +€23,187
up €23,187 (+113%), from €20,602 to €43,789
- Cash +€13,266
up €13,266 (+23.9%), from €55,405 to €68,670
mainly Net result for the year (+€39,951) and Trade debts (+€5,395)
- Reserves +€39,951
up €39,951 (+6.4%), from €626,321 to €666,272
of which Distributable reserves: +€39,951
- Tax, wage and social debts -€16,422
no longer reported in 2025 (was €16,422)
of which Taxes: -€15,122
- Gross operating margin -€49,574
down €49,574 (-57.5%), from €86,172 to €36,597
- Financial income +€13,961
up €13,961 (+91.2%), from €15,309 to €29,270
- Taxes -€10,460
down €10,460 (-34.7%), from €30,122 to €19,662
- Depreciation -€8,048
down €8,048 (-75.4%), from €10,668 to €2,619
- Other operating charges +€1,970
up €1,970 (+187%), from €1,053 to €3,023
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 | €659,452 | €688,509 | +€29,057 | +4.4% |
| Fixed assets | 21/28 | €3,522 | €903 | -€2,619 | -74.4% |
| Tangible fixed assets | 22/27 | €3,522 | €903 | -€2,619 | -74.4% |
| Plant, machinery and equipment | 23 | €2,057 | - | -€2,057 | |
| Other tangible fixed assets | 26 | €1,465 | €903 | -€562 | -38.3% |
| Current assets | 29/58 | €655,930 | €687,606 | +€31,676 | +4.8% |
| Amounts receivable after more than one year | 29 | €207,000 | €207,000 | = | 0.0% |
| Other amounts receivable | 291 | €207,000 | €207,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €372,923 | €368,147 | -€4,777 | -1.3% |
| Other amounts receivable | 41 | €372,923 | €368,147 | -€4,777 | -1.3% |
| Cash at bank and in hand | 54/58 | €55,405 | €68,670 | +€13,266 | +23.9% |
| Deferred charges and accrued income | 490/1 | €20,602 | €43,789 | +€23,187 | +113% |
| Total equity and liabilities | 10/49 | €659,452 | €688,509 | +€29,057 | +4.4% |
| Equity | 10/15 | €638,721 | €678,672 | +€39,951 | +6.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €626,321 | €666,272 | +€39,951 | +6.4% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €624,421 | €664,372 | +€39,951 | +6.4% |
| Amounts payable | 17/49 | €20,731 | €9,837 | -€10,894 | -52.5% |
| Amounts payable within one year | 42/48 | €20,344 | €8,692 | -€11,652 | -57.3% |
| Current portion of amounts payable after more than one year | 42 | €625 | - | -€625 | |
| Trade debts | 44 | €3,297 | €8,692 | +€5,395 | +164% |
| Suppliers | 440/4 | €3,297 | €8,692 | +€5,395 | +164% |
| Taxes, remuneration and social security | 45 | €16,422 | - | -€16,422 | |
| Taxes | 450/3 | €15,122 | - | -€15,122 | |
| Remuneration and social security | 454/9 | €1,300 | - | -€1,300 | |
| Accrued charges and deferred income | 492/3 | €387 | €1,145 | +€758 | +196% |
| Non-recurring operating income | 76A | - | €102,945 | +€102,945 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,668 | €2,619 | -€8,048 | -75.4% |
| Other operating charges | 640/8 | €1,053 | €3,023 | +€1,970 | +187% |
| Gross operating margin | 9900 | €86,172 | €36,597 | -€49,574 | -57.5% |
| Operating profit (loss) | 9901 | €74,451 | €30,955 | -€43,496 | -58.4% |
| Financial income | 75/76B | €15,309 | €29,270 | +€13,961 | +91.2% |
| Recurring financial income | 75 | €15,309 | €29,270 | +€13,961 | +91.2% |
| Financial charges | 65/66B | €597 | €613 | +€16 | +2.7% |
| Recurring financial charges | 65 | €597 | €613 | +€16 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €89,163 | €59,613 | -€29,550 | -33.1% |
| Income taxes | 67/77 | €30,122 | €19,662 | -€10,460 | -34.7% |
| Profit (loss) for the period | 9904 | €59,041 | €39,951 | -€19,090 | -32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €59,041 | €39,951 | -€19,090 | -32.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.