DR. Ignace Dierick: 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. Ignace Dierick
Largest movements
- Current investments +€119,373
up €119,373 (+12.2%), from €975,563 to €1.1m
- Cash -€20,966
down €20,966 (-10.4%), from €201,320 to €180,354
mainly Contributions, distributions and other (-€220,358) and Current investments (-€119,373)
- Other debts +€40,347
up €40,347 (+21.9%), from €183,995 to €224,342
- Reserves +€21,441
up €21,441 (+2.1%), from €1.0m to €1.0m
of which Distributable reserves: +€21,441
- Tax, wage and social debts +€18,864
up €18,864 (+40.7%), from €46,364 to €65,228
- Taxes -€5,534
down €5,534 (-4.5%), from €121,749 to €116,215
- Other operating charges +€5,491
up €5,491 (+335%), from €1,640 to €7,131
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 | €1,260,560 | €1,341,621 | +€81,061 | +6.4% |
| Fixed assets | 21/28 | €58,213 | €45,380 | -€12,833 | -22.0% |
| Tangible fixed assets | 22/27 | €57,963 | €45,130 | -€12,833 | -22.1% |
| Plant, machinery and equipment | 23 | €8,191 | €5,075 | -€3,117 | -38.0% |
| Furniture and vehicles | 24 | €49,007 | €36,331 | -€12,676 | -25.9% |
| Other tangible fixed assets | 26 | €765 | €3,725 | +€2,960 | +387% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,202,347 | €1,296,241 | +€93,894 | +7.8% |
| Amounts receivable within one year | 40/41 | €17,699 | €10,799 | -€6,900 | -39.0% |
| Trade receivables | 40 | €7,468 | €5,120 | -€2,347 | -31.4% |
| Other amounts receivable | 41 | €10,231 | €5,679 | -€4,553 | -44.5% |
| Current investments | 50/53 | €975,563 | €1,094,935 | +€119,373 | +12.2% |
| Cash at bank and in hand | 54/58 | €201,320 | €180,354 | -€20,966 | -10.4% |
| Deferred charges and accrued income | 490/1 | €7,765 | €10,151 | +€2,387 | +30.7% |
| Total equity and liabilities | 10/49 | €1,260,560 | €1,341,621 | +€81,061 | +6.4% |
| Equity | 10/15 | €1,028,726 | €1,050,167 | +€21,441 | +2.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,010,047 | €1,031,488 | +€21,441 | +2.1% |
| Tax-exempt reserves | 132 | €364 | €364 | = | 0.0% |
| Distributable reserves | 133 | €1,009,683 | €1,031,124 | +€21,441 | +2.1% |
| Profit (loss) carried forward | 14 | €79 | €79 | = | 0.0% |
| Amounts payable | 17/49 | €231,834 | €291,454 | +€59,620 | +25.7% |
| Amounts payable within one year | 42/48 | €231,632 | €291,238 | +€59,607 | +25.7% |
| Trade debts | 44 | €1,272 | €1,668 | +€396 | +31.1% |
| Suppliers | 440/4 | €1,272 | €1,668 | +€396 | +31.1% |
| Taxes, remuneration and social security | 45 | €46,364 | €65,228 | +€18,864 | +40.7% |
| Taxes | 450/3 | €46,364 | €65,228 | +€18,864 | +40.7% |
| Other amounts payable | 47/48 | €183,995 | €224,342 | +€40,347 | +21.9% |
| Accrued charges and deferred income | 492/3 | €202 | €216 | +€14 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,211 | €16,953 | -€258 | -1.5% |
| Other operating charges | 640/8 | €1,640 | €7,131 | +€5,491 | +335% |
| Gross operating margin | 9900 | €361,446 | €364,387 | +€2,941 | +0.8% |
| Operating profit (loss) | 9901 | €342,595 | €340,303 | -€2,292 | -0.7% |
| Financial income | 75/76B | €17,288 | €17,778 | +€490 | +2.8% |
| Recurring financial income | 75 | €17,288 | €17,778 | +€490 | +2.8% |
| Financial charges | 65/66B | -€427 | €68 | +€495 | |
| Recurring financial charges | 65 | -€427 | €68 | +€495 | |
| Profit (loss) for the period before taxes | 9903 | €360,311 | €358,014 | -€2,297 | -0.6% |
| Income taxes | 67/77 | €121,749 | €116,215 | -€5,534 | -4.5% |
| Profit (loss) for the period | 9904 | €238,562 | €241,799 | +€3,237 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €238,562 | €241,799 | +€3,237 | +1.4% |
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 20 October 2026 via checked.be.