DR. IVO DEBLIER: 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. IVO DEBLIER
Largest movements
- Cash -€160,747
down €160,747 (-29.7%), from €540,777 to €380,030
mainly Contributions, distributions and other (-€613,805) and Investment in fixed assets (net) (-€25,203)
- Tangible fixed assets -€39,618
down €39,618 (-2.0%), from €2.0m to €2.0m
of which Land and buildings: -€34,480
- Reserves -€292,953
down €292,953 (-14.8%), from €2.0m to €1.7m
of which Distributable reserves: -€292,953
- Tax, wage and social debts +€67,969
up €67,969 (+176%), from €38,559 to €106,529
of which Taxes: +€67,969
- Gross operating margin +€28,121
up €28,121 (+5.3%), from €534,903 to €563,025
- Financial charges -€22,985
down €22,985 (-47.9%), from €47,989 to €25,004
- Taxes +€15,656
up €15,656 (+12.2%), from €128,633 to €144,289
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 | €2,609,484 | €2,390,690 | -€218,794 | -8.4% |
| Fixed assets | 21/28 | €1,994,926 | €1,955,307 | -€39,618 | -2.0% |
| Tangible fixed assets | 22/27 | €1,994,926 | €1,955,307 | -€39,618 | -2.0% |
| Land and buildings | 22 | €1,776,304 | €1,741,824 | -€34,480 | -1.9% |
| Plant, machinery and equipment | 23 | - | €11,560 | +€11,560 | |
| Furniture and vehicles | 24 | €1,981 | €757 | -€1,224 | -61.8% |
| Leasing and similar rights | 25 | €216,640 | €201,166 | -€15,474 | -7.1% |
| Current assets | 29/58 | €614,558 | €435,383 | -€179,175 | -29.2% |
| Amounts receivable within one year | 40/41 | €30,792 | €37,238 | +€6,445 | +20.9% |
| Trade receivables | 40 | - | €6,445 | +€6,445 | |
| Other amounts receivable | 41 | €30,792 | €30,792 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €540,777 | €380,030 | -€160,747 | -29.7% |
| Deferred charges and accrued income | 490/1 | €42,989 | €18,116 | -€24,873 | -57.9% |
| Total equity and liabilities | 10/49 | €2,609,484 | €2,390,690 | -€218,794 | -8.4% |
| Equity | 10/15 | €1,997,086 | €1,704,133 | -€292,953 | -14.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,984,686 | €1,691,733 | -€292,953 | -14.8% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Distributable reserves | 133 | €1,900,486 | €1,607,533 | -€292,953 | -15.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €612,398 | €686,558 | +€74,159 | +12.1% |
| Amounts payable after more than one year | 17 | €530,869 | €555,333 | +€24,464 | +4.6% |
| Financial debts | 170/4 | €343,944 | €329,489 | -€14,455 | -4.2% |
| Other amounts payable | 178/9 | €186,925 | €225,844 | +€38,919 | +20.8% |
| Amounts payable within one year | 42/48 | €80,490 | €130,131 | +€49,640 | +61.7% |
| Current portion of amounts payable after more than one year | 42 | €13,215 | €14,455 | +€1,240 | +9.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €27,636 | €8,067 | -€19,569 | -70.8% |
| Suppliers | 440/4 | €27,636 | €8,067 | -€19,569 | -70.8% |
| Taxes, remuneration and social security | 45 | €38,559 | €106,529 | +€67,969 | +176% |
| Taxes | 450/3 | €34,559 | €102,529 | +€67,969 | +197% |
| Remuneration and social security | 454/9 | €4,000 | €4,000 | = | 0.0% |
| Other amounts payable | 47/48 | €1,080 | €1,080 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,039 | €1,094 | +€55 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,495 | €64,821 | +€3,327 | +5.4% |
| Other operating charges | 640/8 | €10,069 | €10,710 | +€641 | +6.4% |
| Gross operating margin | 9900 | €534,903 | €563,025 | +€28,121 | +5.3% |
| Operating profit (loss) | 9901 | €463,340 | €487,493 | +€24,154 | +5.2% |
| Financial income | 75/76B | €3,056 | €2,652 | -€404 | -13.2% |
| Recurring financial income | 75 | €3,056 | €2,652 | -€404 | -13.2% |
| Financial charges | 65/66B | €47,989 | €25,004 | -€22,985 | -47.9% |
| Recurring financial charges | 65 | €47,989 | €25,004 | -€22,985 | -47.9% |
| Profit (loss) for the period before taxes | 9903 | €418,406 | €465,141 | +€46,734 | +11.2% |
| Income taxes | 67/77 | €128,633 | €144,289 | +€15,656 | +12.2% |
| Profit (loss) for the period | 9904 | €289,773 | €320,852 | +€31,079 | +10.7% |
| Transfer from tax-exempt reserves | 789 | €84,200 | €0 | -€84,200 | -100% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €0 | -€84,200 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €289,773 | €320,852 | +€31,079 | +10.7% |
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 29 October 2026 via checked.be.