Dr. Hilde Beusen: what changed
Dr. Hilde Beusen
Largest movements
- Cash +€274,300
up €274,300 (+300%), from €91,455 to €365,755
mainly Current investments (+€250,000) and Net result for the year (+€102,866)
- Current investments -€250,000
down €250,000 (-100%), from €250,000 to €0
- Tangible fixed assets -€42,296
down €42,296 (-20.4%), from €207,369 to €165,073
of which Furniture and vehicles: -€23,983
- Reserves +€102,866
up €102,866 (+23.5%), from €437,490 to €540,356
- Other debts -€99,750
down €99,750 (-100%), from €99,750 to €0
- Debts after one year -€34,301
down €34,301 (-32.8%), from €104,456 to €70,155
- Financial income -€15,008
down €15,008 (-52.2%), from €28,752 to €13,744
of which Non-recurring financial income: -€15,000
- Taxes -€4,135
down €4,135 (-8.3%), from €49,960 to €45,824
- Gross operating margin -€3,633
down €3,633 (-1.9%), from €189,985 to €186,352
- Depreciation +€2,874
up €2,874 (+7.3%), from €39,422 to €42,296
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €721,484 | €695,980 | -€25,505 | -3.5% |
| Fixed assets | 21/28 | €207,369 | €165,073 | -€42,296 | -20.4% |
| Tangible fixed assets | 22/27 | €207,369 | €165,073 | -€42,296 | -20.4% |
| Land and buildings | 22 | €28,334 | €18,334 | -€10,000 | -35.3% |
| Plant, machinery and equipment | 23 | €20,030 | €16,228 | -€3,801 | -19.0% |
| Furniture and vehicles | 24 | €99,573 | €75,590 | -€23,983 | -24.1% |
| Other tangible fixed assets | 26 | €59,433 | €54,921 | -€4,512 | -7.6% |
| Current assets | 29/58 | €514,115 | €530,907 | +€16,791 | +3.3% |
| Amounts receivable within one year | 40/41 | €163,053 | €160,724 | -€2,329 | -1.4% |
| Trade receivables | 40 | - | €290 | +€290 | |
| Other amounts receivable | 41 | €163,053 | €160,434 | -€2,620 | -1.6% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100% |
| Cash at bank and in hand | 54/58 | €91,455 | €365,755 | +€274,300 | +300% |
| Deferred charges and accrued income | 490/1 | €9,607 | €4,427 | -€5,180 | -53.9% |
| Total equity and liabilities | 10/49 | €721,484 | €695,980 | -€25,505 | -3.5% |
| Equity | 10/15 | €450,728 | €553,594 | +€102,866 | +22.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €437,490 | €540,356 | +€102,866 | +23.5% |
| Distributable reserves | 133 | €437,490 | €540,356 | +€102,866 | +23.5% |
| Profit (loss) carried forward | 14 | €838 | €838 | = | 0.0% |
| Amounts payable | 17/49 | €270,756 | €142,386 | -€128,370 | -47.4% |
| Amounts payable after more than one year | 17 | €104,456 | €70,155 | -€34,301 | -32.8% |
| Financial debts | 170/4 | €104,456 | €70,155 | -€34,301 | -32.8% |
| Amounts payable within one year | 42/48 | €166,178 | €71,055 | -€95,122 | -57.2% |
| Current portion of amounts payable after more than one year | 42 | €32,781 | €34,301 | +€1,520 | +4.6% |
| Trade debts | 44 | €1,227 | €26 | -€1,200 | -97.9% |
| Suppliers | 440/4 | €1,227 | €26 | -€1,200 | -97.9% |
| Taxes, remuneration and social security | 45 | €32,420 | €36,728 | +€4,308 | +13.3% |
| Taxes | 450/3 | €32,420 | €36,728 | +€4,308 | +13.3% |
| Other amounts payable | 47/48 | €99,750 | €0 | -€99,750 | -100% |
| Accrued charges and deferred income | 492/3 | €122 | €1,175 | +€1,053 | +862% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,422 | €42,296 | +€2,874 | +7.3% |
| Other operating charges | 640/8 | €1,817 | €2,866 | +€1,048 | +57.7% |
| Gross operating margin | 9900 | €189,985 | €186,352 | -€3,633 | -1.9% |
| Operating profit (loss) | 9901 | €148,745 | €141,190 | -€7,555 | -5.1% |
| Financial income | 75/76B | €28,752 | €13,744 | -€15,008 | -52.2% |
| Recurring financial income | 75 | €13,752 | €13,744 | -€8 | -0.1% |
| Non-recurring financial income | 76B | €15,000 | €0 | -€15,000 | -100% |
| Financial charges | 65/66B | €7,023 | €6,244 | -€779 | -11.1% |
| Recurring financial charges | 65 | €7,023 | €6,244 | -€779 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €170,474 | €148,690 | -€21,784 | -12.8% |
| Income taxes | 67/77 | €49,960 | €45,824 | -€4,135 | -8.3% |
| Profit (loss) for the period | 9904 | €120,514 | €102,866 | -€17,648 | -14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €120,514 | €102,866 | -€17,648 | -14.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.