Dr. Ide Els: 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. Ide Els
Largest movements
- Cash -€135,458
down €135,458 (-20.0%), from €677,021 to €541,563
mainly Current investments (-€115,000) and Contributions, distributions and other (-€83,233)
- Current investments +€115,000
up €115,000 (+48.9%), from €235,000 to €350,000
- Tangible fixed assets +€70,334
up €70,334 (+3,869%), from €1,818 to €72,151
of which Furniture and vehicles: +€70,709
- Receivables within one year +€11,437
up €11,437 (+14.5%), from €79,062 to €90,499
of which Trade receivables: +€18,706
- Reserves +€53,930
up €53,930 (+5.7%), from €943,911 to €997,841
of which Distributable reserves: +€96,030
- Financial income -€5,597
down €5,597 (-50.9%), from €10,989 to €5,392
- Depreciation +€5,521
up €5,521 (+692%), from €797 to €6,319
- Other operating charges +€2,983
up €2,983 (+261%), from €1,144 to €4,126
- Gross operating margin +€2,369
up €2,369 (+1.2%), from €205,444 to €207,813
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 | €997,938 | €1,054,688 | +€56,749 | +5.7% |
| Fixed assets | 21/28 | €1,818 | €72,151 | +€70,334 | +3,869% |
| Tangible fixed assets | 22/27 | €1,818 | €72,151 | +€70,334 | +3,869% |
| Plant, machinery and equipment | 23 | €475 | €100 | -€375 | -79.0% |
| Furniture and vehicles | 24 | €1,342 | €72,051 | +€70,709 | +5,268% |
| Current assets | 29/58 | €996,121 | €982,536 | -€13,584 | -1.4% |
| Amounts receivable within one year | 40/41 | €79,062 | €90,499 | +€11,437 | +14.5% |
| Trade receivables | 40 | €50 | €18,756 | +€18,706 | +37,412% |
| Other amounts receivable | 41 | €79,012 | €71,743 | -€7,269 | -9.2% |
| Current investments | 50/53 | €235,000 | €350,000 | +€115,000 | +48.9% |
| Cash at bank and in hand | 54/58 | €677,021 | €541,563 | -€135,458 | -20.0% |
| Deferred charges and accrued income | 490/1 | €5,037 | €474 | -€4,564 | -90.6% |
| Total equity and liabilities | 10/49 | €997,938 | €1,054,688 | +€56,749 | +5.7% |
| Equity | 10/15 | €956,311 | €1,010,241 | +€53,930 | +5.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €943,911 | €997,841 | +€53,930 | +5.7% |
| Tax-exempt reserves | 132 | €86,716 | €44,616 | -€42,100 | -48.5% |
| Distributable reserves | 133 | €857,195 | €953,225 | +€96,030 | +11.2% |
| Amounts payable | 17/49 | €41,627 | €44,446 | +€2,819 | +6.8% |
| Amounts payable within one year | 42/48 | €40,991 | €43,816 | +€2,825 | +6.9% |
| Trade debts | 44 | €453 | €846 | +€394 | +86.9% |
| Suppliers | 440/4 | €453 | €846 | +€394 | +86.9% |
| Taxes, remuneration and social security | 45 | €32,733 | €34,743 | +€2,009 | +6.1% |
| Taxes | 450/3 | €29,733 | €31,743 | +€2,009 | +6.8% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €7,804 | €8,226 | +€422 | +5.4% |
| Accrued charges and deferred income | 492/3 | €636 | €631 | -€5 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €797 | €6,319 | +€5,521 | +692% |
| Other operating charges | 640/8 | €1,144 | €4,126 | +€2,983 | +261% |
| Gross operating margin | 9900 | €205,444 | €207,813 | +€2,369 | +1.2% |
| Operating profit (loss) | 9901 | €203,503 | €197,368 | -€6,135 | -3.0% |
| Financial income | 75/76B | €10,989 | €5,392 | -€5,597 | -50.9% |
| Recurring financial income | 75 | €10,989 | €5,392 | -€5,597 | -50.9% |
| Financial charges | 65/66B | €1,579 | €460 | -€1,120 | -70.9% |
| Recurring financial charges | 65 | €1,579 | €460 | -€1,120 | -70.9% |
| Profit (loss) for the period before taxes | 9903 | €212,912 | €202,300 | -€10,613 | -5.0% |
| Income taxes | 67/77 | €63,818 | €65,137 | +€1,319 | +2.1% |
| Profit (loss) for the period | 9904 | €149,094 | €137,163 | -€11,931 | -8.0% |
| Transfer from tax-exempt reserves | 789 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €149,094 | €179,263 | +€30,169 | +20.2% |
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 14 October 2026 via checked.be.