Dr. Inge Van den Bergh: 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. Inge Van den Bergh
Largest movements
- Tangible fixed assets -€20,510
down €20,510 (-8.8%), from €232,729 to €212,219
of which Land and buildings: -€12,692
- Cash -€10,145
down €10,145 (-8.7%), from €116,184 to €106,039
mainly Contributions, distributions and other (-€175,452) and Debts after one year (-€10,383)
- Current investments +€7,805
new in 2025: €7,805
- Receivables within one year +€6,370
up €6,370 (+132%), from €4,839 to €11,208
- Deferred charges and accrued income +€3,901
up €3,901 (+304%), from €1,282 to €5,182
- Reserves -€93,430
down €93,430 (-92.1%), from €101,452 to €8,022
- Other debts +€64,224
up €64,224 (+55.2%), from €116,290 to €180,514
- Tax, wage and social debts +€26,520
up €26,520 (+507%), from €5,228 to €31,748
of which Taxes: +€26,431
- Debts after one year -€10,383
down €10,383 (-9.4%), from €110,491 to €100,109
- Gross operating margin -€21,299
down €21,299 (-11.8%), from €180,351 to €159,052
- Taxes -€6,370
down €6,370 (-21.1%), from €30,161 to €23,792
- Depreciation +€2,160
up €2,160 (+9.8%), from €22,069 to €24,229
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 | €355,033 | €342,454 | -€12,580 | -3.5% |
| Fixed assets | 21/28 | €232,729 | €212,219 | -€20,510 | -8.8% |
| Tangible fixed assets | 22/27 | €232,729 | €212,219 | -€20,510 | -8.8% |
| Land and buildings | 22 | €210,201 | €197,510 | -€12,692 | -6.0% |
| Plant, machinery and equipment | 23 | €13,718 | €9,607 | -€4,111 | -30.0% |
| Furniture and vehicles | 24 | €8,810 | €5,102 | -€3,707 | -42.1% |
| Current assets | 29/58 | €122,304 | €130,234 | +€7,930 | +6.5% |
| Amounts receivable within one year | 40/41 | €4,839 | €11,208 | +€6,370 | +132% |
| Other amounts receivable | 41 | €4,839 | €11,208 | +€6,370 | +132% |
| Current investments | 50/53 | - | €7,805 | +€7,805 | |
| Cash at bank and in hand | 54/58 | €116,184 | €106,039 | -€10,145 | -8.7% |
| Deferred charges and accrued income | 490/1 | €1,282 | €5,182 | +€3,901 | +304% |
| Total equity and liabilities | 10/49 | €355,033 | €342,454 | -€12,580 | -3.5% |
| Equity | 10/15 | €111,452 | €18,022 | -€93,430 | -83.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €101,452 | €8,022 | -€93,430 | -92.1% |
| Distributable reserves | 133 | €101,452 | €8,022 | -€93,430 | -92.1% |
| Amounts payable | 17/49 | €243,581 | €324,432 | +€80,851 | +33.2% |
| Amounts payable after more than one year | 17 | €110,491 | €100,109 | -€10,383 | -9.4% |
| Financial debts | 170/4 | €110,491 | €100,109 | -€10,383 | -9.4% |
| Amounts payable within one year | 42/48 | €133,090 | €224,323 | +€91,233 | +68.6% |
| Current portion of amounts payable after more than one year | 42 | €10,261 | €10,383 | +€121 | +1.2% |
| Trade debts | 44 | €1,310 | €1,679 | +€368 | +28.1% |
| Suppliers | 440/4 | €1,310 | €1,679 | +€368 | +28.1% |
| Taxes, remuneration and social security | 45 | €5,228 | €31,748 | +€26,520 | +507% |
| Taxes | 450/3 | €1,048 | €27,479 | +€26,431 | +2,522% |
| Remuneration and social security | 454/9 | €4,180 | €4,269 | +€89 | +2.1% |
| Other amounts payable | 47/48 | €116,290 | €180,514 | +€64,224 | +55.2% |
| Remuneration, social security and pensions | 62 | €24,195 | €25,824 | +€1,629 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,069 | €24,229 | +€2,160 | +9.8% |
| Other operating charges | 640/8 | €436 | €1,224 | +€788 | +181% |
| Gross operating margin | 9900 | €180,351 | €159,052 | -€21,299 | -11.8% |
| Operating profit (loss) | 9901 | €133,651 | €107,775 | -€25,876 | -19.4% |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.6% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.6% |
| Financial charges | 65/66B | €2,043 | €1,961 | -€82 | -4.0% |
| Recurring financial charges | 65 | €2,043 | €1,961 | -€82 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | €131,613 | €105,813 | -€25,800 | -19.6% |
| Income taxes | 67/77 | €30,161 | €23,792 | -€6,370 | -21.1% |
| Profit (loss) for the period | 9904 | €101,452 | €82,022 | -€19,430 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €101,452 | €82,022 | -€19,430 | -19.2% |
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 19 October 2026 via checked.be.