Dr. Haverals Katrien: 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. Haverals Katrien
Largest movements
- Cash -€282,859
down €282,859 (-71.0%), from €398,611 to €115,752
mainly Contributions, distributions and other (-€584,049) and Trade debts (-€79,211)
- Receivables within one year +€30,142
up €30,142 (+11.1%), from €270,724 to €300,866
- Tangible fixed assets -€8,332
down €8,332 (-9.3%), from €89,345 to €81,012
of which Other tangible fixed assets: -€5,218
- Reserves -€347,573
down €347,573 (-80.1%), from €434,049 to €86,476
- Other debts +€200,424
up €200,424 (+118%), from €169,627 to €370,051
- Trade debts -€79,211
down €79,211 (-91.8%), from €86,320 to €7,109
- Tax, wage and social debts -€35,819
down €35,819 (-69.9%), from €51,213 to €15,394
No income-statement line moved by more than 1% of the activity.
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 | €759,809 | €497,630 | -€262,179 | -34.5% |
| Fixed assets | 21/28 | €89,345 | €81,012 | -€8,332 | -9.3% |
| Tangible fixed assets | 22/27 | €89,345 | €81,012 | -€8,332 | -9.3% |
| Plant, machinery and equipment | 23 | €496 | €372 | -€124 | -25.0% |
| Furniture and vehicles | 24 | €24,970 | €21,979 | -€2,991 | -12.0% |
| Other tangible fixed assets | 26 | €63,878 | €58,661 | -€5,218 | -8.2% |
| Current assets | 29/58 | €670,464 | €416,618 | -€253,847 | -37.9% |
| Amounts receivable within one year | 40/41 | €270,724 | €300,866 | +€30,142 | +11.1% |
| Trade receivables | 40 | €270,724 | €300,866 | +€30,142 | +11.1% |
| Cash at bank and in hand | 54/58 | €398,611 | €115,752 | -€282,859 | -71.0% |
| Deferred charges and accrued income | 490/1 | €1,130 | - | -€1,130 | |
| Total equity and liabilities | 10/49 | €759,809 | €497,630 | -€262,179 | -34.5% |
| Equity | 10/15 | €452,649 | €105,076 | -€347,573 | -76.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €434,049 | €86,476 | -€347,573 | -80.1% |
| Distributable reserves | 133 | €434,049 | €86,476 | -€347,573 | -80.1% |
| Amounts payable | 17/49 | €307,160 | €392,554 | +€85,394 | +27.8% |
| Amounts payable within one year | 42/48 | €307,160 | €392,554 | +€85,394 | +27.8% |
| Trade debts | 44 | €86,320 | €7,109 | -€79,211 | -91.8% |
| Suppliers | 440/4 | €86,320 | €7,109 | -€79,211 | -91.8% |
| Taxes, remuneration and social security | 45 | €51,213 | €15,394 | -€35,819 | -69.9% |
| Taxes | 450/3 | €51,213 | €15,394 | -€35,819 | -69.9% |
| Other amounts payable | 47/48 | €169,627 | €370,051 | +€200,424 | +118% |
| Remuneration, social security and pensions | 62 | €491 | €1,567 | +€1,075 | +219% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,045 | €12,332 | +€287 | +2.4% |
| Other operating charges | 640/8 | €2,576 | €3,261 | +€685 | +26.6% |
| Gross operating margin | 9900 | €337,218 | €337,396 | +€179 | +0.1% |
| Operating profit (loss) | 9901 | €322,106 | €320,237 | -€1,869 | -0.6% |
| Financial income | 75/76B | - | €2,196 | +€2,196 | |
| Recurring financial income | 75 | - | €2,196 | +€2,196 | |
| Financial charges | 65/66B | €65 | €57 | -€8 | -12.6% |
| Recurring financial charges | 65 | €65 | €57 | -€8 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €322,041 | €322,376 | +€335 | +0.1% |
| Income taxes | 67/77 | €86,213 | €85,900 | -€313 | -0.4% |
| Profit (loss) for the period | 9904 | €235,828 | €236,476 | +€648 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €235,828 | €236,476 | +€648 | +0.3% |
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 28 October 2026 via checked.be.