Dr. Guy Cnockaert: 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. Guy Cnockaert
Largest movements
- Cash +€37,131
up €37,131 (+29.5%), from €126,018 to €163,150
mainly Net result for the year (+€53,905) and Depreciation (+€31,893)
- Tangible fixed assets -€28,325
down €28,325 (-18.4%), from €153,991 to €125,667
of which Furniture and vehicles: -€24,859
- Receivables within one year +€12,864
up €12,864 (+34.8%), from €36,980 to €49,844
- Reserves +€20,264
up €20,264 (+8.0%), from €252,713 to €272,977
- Tax, wage and social debts -€5,608
down €5,608 (-48.2%), from €11,645 to €6,037
- Trade debts +€4,251
up €4,251 (+70.6%), from €6,024 to €10,275
- Gross operating margin -€30,354
down €30,354 (-21.6%), from €140,225 to €109,872
- Taxes -€9,257
down €9,257 (-29.7%), from €31,189 to €21,932
- Depreciation +€6,863
up €6,863 (+27.4%), from €25,030 to €31,893
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 | €321,667 | €343,865 | +€22,198 | +6.9% |
| Fixed assets | 21/28 | €153,991 | €125,667 | -€28,325 | -18.4% |
| Tangible fixed assets | 22/27 | €153,991 | €125,667 | -€28,325 | -18.4% |
| Plant, machinery and equipment | 23 | €5,914 | €7,342 | +€1,427 | +24.1% |
| Furniture and vehicles | 24 | €104,846 | €79,986 | -€24,859 | -23.7% |
| Other tangible fixed assets | 26 | €43,231 | €38,339 | -€4,893 | -11.3% |
| Current assets | 29/58 | €167,676 | €218,198 | +€50,523 | +30.1% |
| Amounts receivable within one year | 40/41 | €36,980 | €49,844 | +€12,864 | +34.8% |
| Other amounts receivable | 41 | €36,980 | €49,844 | +€12,864 | +34.8% |
| Cash at bank and in hand | 54/58 | €126,018 | €163,150 | +€37,131 | +29.5% |
| Deferred charges and accrued income | 490/1 | €4,677 | €5,205 | +€528 | +11.3% |
| Total equity and liabilities | 10/49 | €321,667 | €343,865 | +€22,198 | +6.9% |
| Equity | 10/15 | €271,313 | €291,577 | +€20,264 | +7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €252,713 | €272,977 | +€20,264 | +8.0% |
| Distributable reserves | 133 | €252,713 | €272,977 | +€20,264 | +8.0% |
| Amounts payable | 17/49 | €50,354 | €52,288 | +€1,934 | +3.8% |
| Amounts payable within one year | 42/48 | €46,940 | €48,429 | +€1,489 | +3.2% |
| Trade debts | 44 | €6,024 | €10,275 | +€4,251 | +70.6% |
| Suppliers | 440/4 | €6,024 | €10,275 | +€4,251 | +70.6% |
| Taxes, remuneration and social security | 45 | €11,645 | €6,037 | -€5,608 | -48.2% |
| Taxes | 450/3 | €11,645 | €6,037 | -€5,608 | -48.2% |
| Other amounts payable | 47/48 | €29,271 | €32,117 | +€2,845 | +9.7% |
| Accrued charges and deferred income | 492/3 | €3,414 | €3,860 | +€445 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,030 | €31,893 | +€6,863 | +27.4% |
| Other operating charges | 640/8 | €220 | €231 | +€11 | +5.0% |
| Gross operating margin | 9900 | €140,225 | €109,872 | -€30,354 | -21.6% |
| Operating profit (loss) | 9901 | €114,976 | €77,748 | -€37,228 | -32.4% |
| Financial income | 75/76B | €239 | €546 | +€306 | +128% |
| Recurring financial income | 75 | €239 | €546 | +€306 | +128% |
| Financial charges | 65/66B | €2,005 | €2,457 | +€452 | +22.5% |
| Recurring financial charges | 65 | €2,005 | €2,457 | +€452 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €113,210 | €75,837 | -€37,374 | -33.0% |
| Income taxes | 67/77 | €31,189 | €21,932 | -€9,257 | -29.7% |
| Profit (loss) for the period | 9904 | €82,022 | €53,905 | -€28,117 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €82,022 | €53,905 | -€28,117 | -34.3% |
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 26 October 2026 via checked.be.