DR. I. DE LAET: what changed
DR. I. DE LAET
Largest movements
- Cash +€41,986
up €41,986 (+58.3%), from €72,059 to €114,045
mainly Net result for the year (+€193,853) and Receivables within one year (+€41,721)
- Receivables within one year -€41,721
down €41,721 (-57.1%), from €73,099 to €31,377
of which Other amounts receivable: -€41,721
- Deferred charges and accrued income +€32,360
up €32,360 (+821%), from €3,941 to €36,302
- Current investments +€30,470
up €30,470 (+7.3%), from €418,208 to €448,678
- Tangible fixed assets -€10,287
down €10,287 (-46.1%), from €22,298 to €12,011
of which Land and buildings: -€11,307
- Reserves +€193,853
up €193,853 (+58.9%), from €329,343 to €523,196
- Other debts -€114,981
down €114,981 (-76.2%), from €150,991 to €36,009
- Debts after one year -€18,295
down €18,295 (-88.8%), from €20,609 to €2,314
- Trade debts -€15,151
down €15,151 (-76.5%), from €19,809 to €4,657
- Tax, wage and social debts +€7,580
up €7,580 (+22.8%), from €33,295 to €40,876
of which Taxes: +€3,915
- Gross operating margin +€77,108
up €77,108 (+34.4%), from €223,970 to €301,079
- Taxes -€40,123
down €40,123 (-31.4%), from €127,591 to €87,468
- Financial charges -€18,525
down €18,525 (-85.6%), from €21,632 to €3,108
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 | €589,604 | €642,413 | +€52,809 | +9.0% |
| Fixed assets | 21/28 | €22,298 | €12,011 | -€10,287 | -46.1% |
| Tangible fixed assets | 22/27 | €22,298 | €12,011 | -€10,287 | -46.1% |
| Land and buildings | 22 | €21,463 | €10,156 | -€11,307 | -52.7% |
| Furniture and vehicles | 24 | €835 | €1,855 | +€1,021 | +122% |
| Current assets | 29/58 | €567,306 | €630,402 | +€63,095 | +11.1% |
| Amounts receivable within one year | 40/41 | €73,099 | €31,377 | -€41,721 | -57.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €73,099 | €31,377 | -€41,721 | -57.1% |
| Current investments | 50/53 | €418,208 | €448,678 | +€30,470 | +7.3% |
| Cash at bank and in hand | 54/58 | €72,059 | €114,045 | +€41,986 | +58.3% |
| Deferred charges and accrued income | 490/1 | €3,941 | €36,302 | +€32,360 | +821% |
| Total equity and liabilities | 10/49 | €589,604 | €642,413 | +€52,809 | +9.0% |
| Equity | 10/15 | €348,140 | €541,796 | +€193,656 | +55.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €329,343 | €523,196 | +€193,853 | +58.9% |
| Distributable reserves | 133 | €329,343 | €523,196 | +€193,853 | +58.9% |
| Profit (loss) carried forward | 14 | €196 | €0 | -€196 | -100% |
| Amounts payable | 17/49 | €241,464 | €100,617 | -€140,848 | -58.3% |
| Amounts payable after more than one year | 17 | €20,609 | €2,314 | -€18,295 | -88.8% |
| Financial debts | 170/4 | €20,609 | €2,314 | -€18,295 | -88.8% |
| Amounts payable within one year | 42/48 | €220,855 | €98,303 | -€122,552 | -55.5% |
| Current portion of amounts payable after more than one year | 42 | €16,760 | €16,760 | = | 0.0% |
| Trade debts | 44 | €19,809 | €4,657 | -€15,151 | -76.5% |
| Suppliers | 440/4 | €19,809 | €4,657 | -€15,151 | -76.5% |
| Taxes, remuneration and social security | 45 | €33,295 | €40,876 | +€7,580 | +22.8% |
| Taxes | 450/3 | €33,295 | €37,210 | +€3,915 | +11.8% |
| Remuneration and social security | 454/9 | - | €3,665 | +€3,665 | |
| Other amounts payable | 47/48 | €150,991 | €36,009 | -€114,981 | -76.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,271 | €12,330 | +€59 | +0.5% |
| Other operating charges | 640/8 | €3,433 | €5,149 | +€1,716 | +50.0% |
| Gross operating margin | 9900 | €223,970 | €301,079 | +€77,108 | +34.4% |
| Operating profit (loss) | 9901 | €208,266 | €283,599 | +€75,333 | +36.2% |
| Financial income | 75/76B | €1,294 | €830 | -€465 | -35.9% |
| Recurring financial income | 75 | €1,294 | €830 | -€465 | -35.9% |
| Financial charges | 65/66B | €21,632 | €3,108 | -€18,525 | -85.6% |
| Recurring financial charges | 65 | €21,632 | €3,108 | -€18,525 | -85.6% |
| Profit (loss) for the period before taxes | 9903 | €187,928 | €281,321 | +€93,393 | +49.7% |
| Income taxes | 67/77 | €127,591 | €87,468 | -€40,123 | -31.4% |
| Profit (loss) for the period | 9904 | €60,337 | €193,853 | +€133,516 | +221% |
| Profit (loss) for the period to be appropriated | 9905 | €60,337 | €193,853 | +€133,516 | +221% |
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 5 November 2026 via checked.be.