DR. INGE HELLINX: what changed
Two fiscal 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. INGE HELLINX
Largest movements
- Current investments -€140,000
down €140,000 (-73.8%), from €189,770 to €49,770
- Cash +€42,540
up €42,540 (+463.5%), from €9,178 to €51,718
mainly Current investments (+€140,000) and Net result for the year (+€53,826)
- Tangible fixed assets -€20,304
down €20,304 (-17.6%), from €115,384 to €95,079
of which Land and buildings: -€19,195
- Reserves -€56,200
down €56,200 (-34.6%), from €162,198 to €105,998
of which Distributable reserves: -€56,200
- Other debts -€55,841
down €55,841 (-99.2%), from €56,310 to €469
- Debts after one year -€15,555
down €15,555 (-67.2%), from €23,152 to €7,597
- Tax, wage and social debts +€9,018
new in 2025: €9,018
- Financial income +€71,460
up €71,460 (+46663.2%), from €153 to €71,613
- Gross operating margin +€18,500
up €18,500, from -€2,284 to €16,216
- Taxes +€9,213
up €9,213, from -€60 to €9,153
- Other operating charges +€579
up €579 (+17.5%), from €3,302 to €3,881
- Financial charges -€225
down €225 (-25.3%), from €889 to €664
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.
Cash bridge derived
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 | €314,332 | €196,567 | -€117,764 | -37.5% |
| Fixed assets | 21/28 | €115,384 | €95,079 | -€20,304 | -17.6% |
| Tangible fixed assets | 22/27 | €115,384 | €95,079 | -€20,304 | -17.6% |
| Land and buildings | 22 | €110,945 | €91,751 | -€19,195 | -17.3% |
| Plant, machinery and equipment | 23 | €4,438 | €3,329 | -€1,110 | -25.0% |
| Current assets | 29/58 | €198,948 | €101,488 | -€97,460 | -49.0% |
| Current investments | 50/53 | €189,770 | €49,770 | -€140,000 | -73.8% |
| Cash at bank and in hand | 54/58 | €9,178 | €51,718 | +€42,540 | +463.5% |
| Total equity and liabilities | 10/49 | €314,332 | €196,567 | -€117,764 | -37.5% |
| Equity | 10/15 | €218,932 | €163,558 | -€55,374 | -25.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €162,198 | €105,998 | -€56,200 | -34.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,138 | €11,138 | = | 0.0% |
| Distributable reserves | 133 | €149,200 | €93,000 | -€56,200 | -37.7% |
| Profit (loss) carried forward | 14 | €50,534 | €51,360 | +€826 | +1.6% |
| Amounts payable | 17/49 | €95,400 | €33,009 | -€62,391 | -65.4% |
| Amounts payable after more than one year | 17 | €23,152 | €7,597 | -€15,555 | -67.2% |
| Financial debts | 170/4 | €23,152 | €7,597 | -€15,555 | -67.2% |
| Amounts payable within one year | 42/48 | €72,248 | €25,412 | -€46,836 | -64.8% |
| Current portion of amounts payable after more than one year | 42 | €15,555 | €15,555 | = | 0.0% |
| Trade debts | 44 | €382 | €370 | -€12 | -3.1% |
| Suppliers | 440/4 | €382 | €370 | -€12 | -3.1% |
| Taxes, remuneration and social security | 45 | - | €9,018 | +€9,018 | |
| Taxes | 450/3 | - | €9,018 | +€9,018 | |
| Other amounts payable | 47/48 | €56,310 | €469 | -€55,841 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,304 | €20,304 | = | 0.0% |
| Other operating charges | 640/8 | €3,302 | €3,881 | +€579 | +17.5% |
| Gross operating margin | 9900 | -€2,284 | €16,216 | +€18,500 | |
| Operating profit (loss) | 9901 | -€25,891 | -€7,969 | +€17,921 | +69.2% |
| Financial income | 75/76B | €153 | €71,613 | +€71,460 | +46663.2% |
| Recurring financial income | 75 | €153 | €71,613 | +€71,460 | +46663.2% |
| Financial charges | 65/66B | €889 | €664 | -€225 | -25.3% |
| Recurring financial charges | 65 | €889 | €664 | -€225 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | -€26,626 | €62,980 | +€89,606 | |
| Income taxes | 67/77 | -€60 | €9,153 | +€9,213 | |
| Profit (loss) for the period | 9904 | -€26,567 | €53,826 | +€80,393 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,567 | €53,826 | +€80,393 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.