Dr. Herregodts P.: 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. Herregodts P.
Largest movements
- Intangible fixed assets -€40,000
down €40,000 (-16.1%), from €248,219 to €208,219
- Receivables within one year +€27,935
up €27,935 (+21.5%), from €129,897 to €157,832
of which Trade receivables: +€60,120
- Tangible fixed assets -€10,999
down €10,999 (-18.5%), from €59,405 to €48,405
of which Other tangible fixed assets: -€7,691
- Other debts +€51,972
up €51,972, from €0 to €51,972
- Debts after one year -€50,642
down €50,642 (-30.4%), from €166,538 to €115,896
- Profit (loss) carried forward -€15,782
down €15,782 (-19.1%), from -€82,510 to -€98,292
- Trade debts -€13,667
down €13,667 (-67.2%), from €20,345 to €6,678
- Tax, wage and social debts +€10,562
up €10,562 (+51.6%), from €20,462 to €31,024
of which Taxes: +€9,108
- Gross operating margin +€27,984
up €27,984 (+34.7%), from €80,556 to €108,541
- Staff costs +€11,143
up €11,143 (+21.3%), from €52,221 to €63,364
- Taxes -€1,384
down €1,384, from €873 to -€511
- Financial charges +€1,343
up €1,343 (+22.9%), from €5,853 to €7,196
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €437,806 | €414,457 | -€23,349 | -5.3% |
| Fixed assets | 21/28 | €307,624 | €256,625 | -€50,999 | -16.6% |
| Intangible fixed assets | 21 | €248,219 | €208,219 | -€40,000 | -16.1% |
| Tangible fixed assets | 22/27 | €59,405 | €48,405 | -€10,999 | -18.5% |
| Plant, machinery and equipment | 23 | €850 | €370 | -€480 | -56.4% |
| Furniture and vehicles | 24 | €8,007 | €5,178 | -€2,829 | -35.3% |
| Other tangible fixed assets | 26 | €50,548 | €42,857 | -€7,691 | -15.2% |
| Current assets | 29/58 | €130,182 | €157,832 | +€27,650 | +21.2% |
| Amounts receivable within one year | 40/41 | €129,897 | €157,832 | +€27,935 | +21.5% |
| Trade receivables | 40 | €97,713 | €157,832 | +€60,120 | +61.5% |
| Other amounts receivable | 41 | €32,185 | €0 | -€32,185 | -100% |
| Deferred charges and accrued income | 490/1 | €285 | €0 | -€285 | -100% |
| Total equity and liabilities | 10/49 | €437,806 | €414,457 | -€23,349 | -5.3% |
| Equity | 10/15 | €2,844 | -€12,939 | -€15,782 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €80,354 | €80,354 | = | 0.0% |
| Distributable reserves | 133 | €80,354 | €80,354 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,510 | -€98,292 | -€15,782 | -19.1% |
| Amounts payable | 17/49 | €434,962 | €427,395 | -€7,567 | -1.7% |
| Amounts payable after more than one year | 17 | €166,538 | €115,896 | -€50,642 | -30.4% |
| Financial debts | 170/4 | €166,538 | €115,896 | -€50,642 | -30.4% |
| Amounts payable within one year | 42/48 | €268,424 | €311,499 | +€43,075 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €50,116 | €50,642 | +€526 | +1.0% |
| Financial debts | 43 | €20,111 | €21,994 | +€1,883 | +9.4% |
| Credit institutions | 430/8 | €20,111 | €21,994 | +€1,883 | +9.4% |
| Trade debts | 44 | €20,345 | €6,678 | -€13,667 | -67.2% |
| Suppliers | 440/4 | €20,345 | €6,678 | -€13,667 | -67.2% |
| Advances received on contracts in progress | 46 | €157,390 | €149,190 | -€8,200 | -5.2% |
| Taxes, remuneration and social security | 45 | €20,462 | €31,024 | +€10,562 | +51.6% |
| Taxes | 450/3 | €12,626 | €21,734 | +€9,108 | +72.1% |
| Remuneration and social security | 454/9 | €7,836 | €9,289 | +€1,453 | +18.5% |
| Other amounts payable | 47/48 | €0 | €51,972 | +€51,972 | |
| Remuneration, social security and pensions | 62 | €52,221 | €63,364 | +€11,143 | +21.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,999 | €50,999 | = | 0.0% |
| Other operating charges | 640/8 | €3,815 | €3,290 | -€526 | -13.8% |
| Gross operating margin | 9900 | €80,556 | €108,541 | +€27,984 | +34.7% |
| Operating profit (loss) | 9901 | -€26,479 | -€9,112 | +€17,367 | +65.6% |
| Financial income | 75/76B | €696 | €15 | -€681 | -97.9% |
| Recurring financial income | 75 | €696 | €15 | -€681 | -97.9% |
| Financial charges | 65/66B | €5,853 | €7,196 | +€1,343 | +22.9% |
| Recurring financial charges | 65 | €5,853 | €7,196 | +€1,343 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | -€31,636 | -€16,293 | +€15,343 | +48.5% |
| Income taxes | 67/77 | €873 | -€511 | -€1,384 | |
| Profit (loss) for the period | 9904 | -€32,509 | -€15,782 | +€16,726 | +51.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,509 | -€15,782 | +€16,726 | +51.5% |
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 22 October 2026 via checked.be.