Dr. GILLAIN: 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. GILLAIN
Largest movements
- Cash +€47,987
up €47,987 (+239%), from €20,067 to €68,055
mainly Net result for the year (+€77,664) and Receivables within one year (+€8,761)
- Receivables within one year -€8,761
down €8,761 (-12.8%), from €68,395 to €59,634
- Deferred charges and accrued income -€5,450
down €5,450 (-22.0%), from €24,794 to €19,345
- Reserves +€60,723
up €60,723 (+32.3%), from €188,118 to €248,841
of which Distributable reserves: +€60,723
- Other debts -€31,747
down €31,747 (-65.2%), from €48,688 to €16,941
- Tax, wage and social debts +€4,122
up €4,122 (+123%), from €3,348 to €7,471
- Gross operating margin +€14,939
up €14,939 (+14.2%), from €105,029 to €119,969
- Taxes +€4,598
up €4,598 (+16.6%), from €27,776 to €32,373
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 | €255,812 | €289,016 | +€33,204 | +13.0% |
| Fixed assets | 21/28 | €41,991 | €40,375 | -€1,616 | -3.8% |
| Tangible fixed assets | 22/27 | €25,066 | €23,450 | -€1,616 | -6.4% |
| Plant, machinery and equipment | 23 | €7,990 | €8,043 | +€53 | +0.7% |
| Furniture and vehicles | 24 | €12,725 | €10,186 | -€2,539 | -20.0% |
| Other tangible fixed assets | 26 | €4,350 | €5,220 | +€870 | +20.0% |
| Financial fixed assets | 28 | €16,925 | €16,925 | = | 0.0% |
| Current assets | 29/58 | €213,821 | €248,642 | +€34,820 | +16.3% |
| Amounts receivable within one year | 40/41 | €68,395 | €59,634 | -€8,761 | -12.8% |
| Other amounts receivable | 41 | €68,395 | €59,634 | -€8,761 | -12.8% |
| Current investments | 50/53 | €100,565 | €101,609 | +€1,044 | +1.0% |
| Cash at bank and in hand | 54/58 | €20,067 | €68,055 | +€47,987 | +239% |
| Deferred charges and accrued income | 490/1 | €24,794 | €19,345 | -€5,450 | -22.0% |
| Total equity and liabilities | 10/49 | €255,812 | €289,016 | +€33,204 | +13.0% |
| Equity | 10/15 | €199,455 | €260,178 | +€60,723 | +30.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188,118 | €248,841 | +€60,723 | +32.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €186,258 | €246,981 | +€60,723 | +32.6% |
| Profit (loss) carried forward | 14 | -€7,264 | -€7,264 | = | 0.0% |
| Amounts payable | 17/49 | €56,358 | €28,839 | -€27,519 | -48.8% |
| Amounts payable within one year | 42/48 | €56,358 | €28,839 | -€27,519 | -48.8% |
| Trade debts | 44 | €4,321 | €4,428 | +€106 | +2.5% |
| Suppliers | 440/4 | €4,321 | €4,428 | +€106 | +2.5% |
| Taxes, remuneration and social security | 45 | €3,348 | €7,471 | +€4,122 | +123% |
| Taxes | 450/3 | €3,348 | €7,471 | +€4,122 | +123% |
| Other amounts payable | 47/48 | €48,688 | €16,941 | -€31,747 | -65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,523 | €7,710 | +€187 | +2.5% |
| Other operating charges | 640/8 | €3,071 | €3,326 | +€255 | +8.3% |
| Gross operating margin | 9900 | €105,029 | €119,969 | +€14,939 | +14.2% |
| Operating profit (loss) | 9901 | €94,435 | €108,932 | +€14,498 | +15.4% |
| Financial income | 75/76B | €473 | €1,135 | +€662 | +140% |
| Recurring financial income | 75 | €473 | €1,044 | +€571 | +121% |
| Non-recurring financial income | 76B | - | €91 | +€91 | |
| Financial charges | 65/66B | €89 | €30 | -€59 | -66.0% |
| Recurring financial charges | 65 | €89 | €30 | -€59 | -66.0% |
| Profit (loss) for the period before taxes | 9903 | €94,818 | €110,037 | +€15,219 | +16.1% |
| Income taxes | 67/77 | €27,776 | €32,373 | +€4,598 | +16.6% |
| Profit (loss) for the period | 9904 | €67,043 | €77,664 | +€10,621 | +15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €67,043 | €77,664 | +€10,621 | +15.8% |
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 17 October 2026 via checked.be.