Dr. Guy Lyssens: 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 Lyssens
Largest movements
- Receivables within one year +€147,028
up €147,028 (+735%), from €20,000 to €167,028
- Tangible fixed assets +€38,473
up €38,473 (+20.3%), from €189,845 to €228,318
of which Land and buildings: +€24,068
- Cash -€29,518
down €29,518 (-42.5%), from €69,380 to €39,862
mainly Receivables within one year (-€147,028) and Investment in fixed assets (net) (-€73,240)
- Reserves +€131,913
up €131,913 (+77.4%), from €170,418 to €302,331
of which Distributable reserves: +€131,913
- Debts after one year +€16,948
up €16,948 (+56.0%), from €30,250 to €47,198
- Current portion of long-term debt +€8,655
up €8,655 (+102%), from €8,478 to €17,134
- Gross operating margin +€54,260
up €54,260 (+34.7%), from €156,195 to €210,455
- Depreciation -€14,327
down €14,327 (-29.2%), from €49,094 to €34,767
- Taxes +€13,024
up €13,024 (+41.3%), from €31,502 to €44,526
- Financial income +€4,395
up €4,395 (+4,095%), from €107 to €4,502
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 | €279,225 | €435,209 | +€155,984 | +55.9% |
| Fixed assets | 21/28 | €189,845 | €228,318 | +€38,473 | +20.3% |
| Tangible fixed assets | 22/27 | €189,845 | €228,318 | +€38,473 | +20.3% |
| Land and buildings | 22 | €181,970 | €206,038 | +€24,068 | +13.2% |
| Plant, machinery and equipment | 23 | €3,809 | €13,831 | +€10,021 | +263% |
| Furniture and vehicles | 24 | €4,066 | €8,450 | +€4,384 | +108% |
| Current assets | 29/58 | €89,380 | €206,891 | +€117,511 | +131% |
| Amounts receivable within one year | 40/41 | €20,000 | €167,028 | +€147,028 | +735% |
| Other amounts receivable | 41 | €20,000 | €167,028 | +€147,028 | +735% |
| Cash at bank and in hand | 54/58 | €69,380 | €39,862 | -€29,518 | -42.5% |
| Total equity and liabilities | 10/49 | €279,225 | €435,209 | +€155,984 | +55.9% |
| Equity | 10/15 | €189,018 | €320,931 | +€131,913 | +69.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €170,418 | €302,331 | +€131,913 | +77.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €170,418 | €302,331 | +€131,913 | +77.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €90,207 | €114,278 | +€24,072 | +26.7% |
| Amounts payable after more than one year | 17 | €30,250 | €47,198 | +€16,948 | +56.0% |
| Financial debts | 170/4 | €30,250 | €47,198 | +€16,948 | +56.0% |
| Amounts payable within one year | 42/48 | €59,957 | €67,080 | +€7,123 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €8,478 | €17,134 | +€8,655 | +102% |
| Financial debts | 43 | €20,923 | €20,896 | -€27 | -0.1% |
| Other loans | 439 | €20,923 | €20,896 | -€27 | -0.1% |
| Trade debts | 44 | €11,947 | €9,530 | -€2,416 | -20.2% |
| Suppliers | 440/4 | €11,947 | €9,530 | -€2,416 | -20.2% |
| Taxes, remuneration and social security | 45 | €17,386 | €19,520 | +€2,134 | +12.3% |
| Taxes | 450/3 | €17,386 | €19,520 | +€2,134 | +12.3% |
| Other amounts payable | 47/48 | €1,222 | €0 | -€1,222 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,094 | €34,767 | -€14,327 | -29.2% |
| Other operating charges | 640/8 | €635 | €550 | -€85 | -13.3% |
| Gross operating margin | 9900 | €156,195 | €210,455 | +€54,260 | +34.7% |
| Operating profit (loss) | 9901 | €106,466 | €175,138 | +€68,672 | +64.5% |
| Financial income | 75/76B | €107 | €4,502 | +€4,395 | +4,095% |
| Recurring financial income | 75 | €107 | €4,502 | +€4,395 | +4,095% |
| Financial charges | 65/66B | €2,306 | €3,200 | +€894 | +38.8% |
| Recurring financial charges | 65 | €2,306 | €3,200 | +€894 | +38.8% |
| Profit (loss) for the period before taxes | 9903 | €104,267 | €176,439 | +€72,172 | +69.2% |
| Income taxes | 67/77 | €31,502 | €44,526 | +€13,024 | +41.3% |
| Profit (loss) for the period | 9904 | €72,765 | €131,913 | +€59,148 | +81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €72,765 | €131,913 | +€59,148 | +81.3% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.