DR. INGRID REYMEN: 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.
What changed
DR. INGRID REYMEN
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€75,807
2024 · €11,177+€64,629
Equity
€1.9m
2024 · €1.8m+€75,851
Cash
€228,188
2024 · €237,499-€9,311
Balance sheet total
€2.8m
2024 · €2.7m+€116,132
Largest movements
Assets
- Current investments +€127,212
up €127,212 (+6.6%), from €1.9m to €2.1m
Equity and liabilities
- Reserves +€75,851
up €75,851 (+15.9%), from €477,405 to €553,256
of which Distributable reserves: +€75,851
- Other debts +€44,704
up €44,704 (+6.4%), from €693,812 to €738,516
Income statement
- Financial income +€71,200
up €71,200 (+220%), from €32,397 to €103,598
- Financial charges -€41,301
down €41,301 (-51.1%), from €80,745 to €39,444
of which Financial charges: -€38,201
- Gross operating margin -€21,967
down €21,967 (-20.2%), from €108,874 to €86,906
- Taxes +€16,267
up €16,267 (+314%), from €5,188 to €21,455
- Depreciation +€10,701
up €10,701 (+24.8%), from €43,131 to €53,831
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.
Result 2024
€11,177
Gross operating margin
-€21,967
Depreciation
-€10,701
Provisions
+€1,094
Other operating charges
-€31
Financial income
+€71,200
Financial charges
+€41,301
Taxes
-€16,267
Result 2025
€75,807
raises the resultlowers the result
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.
From operations
+€187,706
Investment
-€185,006
Financing
-€12,012
Cash 2024
€237,499
From operations (derived)
+€187,706
Net result for the year
+€75,807
Depreciation
+€53,831
Receivables within one year
+€3,167
Deferred charges and accrued income
+€2,564
Provisions
-€1,094
Trade debts
+€912
Tax, wage and social debts
+€7,814
Other debts
+€44,704
Investment (derived)
-€185,006
Investment in fixed assets (net)
-€57,794
Current investments
-€127,212
Financing
-€12,012
Debts after one year
-€25,635
Current portion of long-term debt
+€13,579
Contributions, distributions and other
+€44
Cash 2025
€228,188
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,667,913 | €2,784,046 | +€116,132 | +4.4% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €429,836 | €433,798 | +€3,962 | +0.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €104,056 | €108,018 | +€3,962 | +3.8% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €87,896 | €48,487 | -€39,410 | -44.8% |
| Furniture and vehicles | 24 | €2,808 | €44,205 | +€41,397 | +1,474% |
| Other tangible fixed assets | 26 | €13,351 | €15,326 | +€1,975 | +14.8% |
| Financial fixed assets | 28 | €325,780 | €325,780 | = | 0.0% |
| Current assets | 29/58 | €2,238,078 | €2,350,248 | +€112,170 | +5.0% |
| Amounts receivable within one year | 40/41 | €55,020 | €51,853 | -€3,167 | -5.8% |
| Trade receivables | 40 | €12,925 | €3,612 | -€9,313 | -72.1% |
| Other amounts receivable | 41 | €42,095 | €48,241 | +€6,146 | +14.6% |
| Current investments | 50/53 | €1,936,630 | €2,063,842 | +€127,212 | +6.6% |
| Cash at bank and in hand | 54/58 | €237,499 | €228,188 | -€9,311 | -3.9% |
| Deferred charges and accrued income | 490/1 | €8,929 | €6,365 | -€2,564 | -28.7% |
| Total equity and liabilities | 10/49 | €2,667,913 | €2,784,046 | +€116,132 | +4.4% |
| Equity | 10/15 | €1,796,405 | €1,872,256 | +€75,851 | +4.2% |
| Contributions | 10/11 | €1,319,000 | €1,319,000 | = | 0.0% |
| Reserves | 13 | €477,405 | €553,256 | +€75,851 | +15.9% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €464,905 | €540,756 | +€75,851 | +16.3% |
| Provisions and deferred taxes | 16 | €29,013 | €27,920 | -€1,094 | -3.8% |
| Provisions for liabilities and charges | 160/5 | €29,013 | €27,920 | -€1,094 | -3.8% |
| Major repairs and maintenance | 162 | €29,013 | - | -€29,013 | |
| Other liabilities and charges | 164/5 | - | €27,920 | +€27,920 | |
| Amounts payable | 17/49 | €842,495 | €883,870 | +€41,375 | +4.9% |
| Amounts payable after more than one year | 17 | €65,975 | €40,340 | -€25,635 | -38.9% |
| Financial debts | 170/4 | €65,975 | €40,340 | -€25,635 | -38.9% |
| Amounts payable within one year | 42/48 | €776,520 | €843,530 | +€67,010 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €41,266 | €54,846 | +€13,579 | +32.9% |
| Trade debts | 44 | €3,177 | €4,089 | +€912 | +28.7% |
| Suppliers | 440/4 | €3,177 | €4,089 | +€912 | +28.7% |
| Taxes, remuneration and social security | 45 | €38,265 | €46,079 | +€7,814 | +20.4% |
| Taxes | 450/3 | €38,265 | €46,079 | +€7,814 | +20.4% |
| Other amounts payable | 47/48 | €693,812 | €738,516 | +€44,704 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,131 | €53,831 | +€10,701 | +24.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€1,094 | -€1,094 | |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | €108,874 | €86,906 | -€21,967 | -20.2% |
| Operating profit (loss) | 9901 | €64,713 | €33,108 | -€31,605 | -48.8% |
| Financial income | 75/76B | €32,397 | €103,598 | +€71,200 | +220% |
| Recurring financial income | 75 | €32,397 | €103,598 | +€71,200 | +220% |
| Financial charges | 65/66B | €80,745 | €39,444 | -€41,301 | -51.1% |
| Recurring financial charges | 65 | €77,645 | €39,444 | -€38,201 | -49.2% |
| Non-recurring financial charges | 66B | €3,100 | - | -€3,100 | |
| Profit (loss) for the period before taxes | 9903 | €16,365 | €97,261 | +€80,896 | +494% |
| Income taxes | 67/77 | €5,188 | €21,455 | +€16,267 | +314% |
| Profit (loss) for the period | 9904 | €11,177 | €75,807 | +€64,629 | +578% |
| Profit (loss) for the period to be appropriated | 9905 | €11,177 | €75,807 | +€64,629 | +578% |
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.