DR. J. DE RYCKE: 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. J. DE RYCKE
Largest movements
- Current investments -€129,276
down €129,276 (-49.4%), from €261,956 to €132,680
- Tangible fixed assets -€79,358
down €79,358 (-38.5%), from €206,081 to €126,723
- Cash +€41,244
up €41,244 (+24.2%), from €170,114 to €211,358
mainly Current investments (+€129,276) and Other debts (+€54,072)
- Receivables within one year -€27,822
down €27,822 (-45.1%), from €61,673 to €33,851
of which Other amounts receivable: -€43,817
- Reserves -€226,319
down €226,319 (-42.7%), from €530,269 to €303,950
of which Distributable reserves: -€226,319
- Other debts +€54,072
up €54,072 (+149%), from €36,238 to €90,310
- Debts after one year -€34,126
down €34,126 (-45.2%), from €75,507 to €41,381
- Trade debts +€8,237
up €8,237 (+165%), from €4,992 to €13,229
- Gross operating margin -€174,567
down €174,567 (-60.9%), from €286,702 to €112,136
- Taxes -€54,131
down €54,131 (-90.3%), from €59,965 to €5,834
- Depreciation +€12,863
up €12,863 (+35.4%), from €36,378 to €49,241
- Financial income +€3,320
up €3,320 (+60.7%), from €5,468 to €8,788
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 | €731,800 | €533,642 | -€198,158 | -27.1% |
| Fixed assets | 21/28 | €206,768 | €126,723 | -€80,045 | -38.7% |
| Intangible fixed assets | 21 | €686 | - | -€686 | |
| Tangible fixed assets | 22/27 | €206,081 | €126,723 | -€79,358 | -38.5% |
| Plant, machinery and equipment | 23 | €12,676 | €8,820 | -€3,856 | -30.4% |
| Furniture and vehicles | 24 | €142,238 | €104,949 | -€37,289 | -26.2% |
| Other tangible fixed assets | 26 | €51,167 | €12,954 | -€38,213 | -74.7% |
| Current assets | 29/58 | €525,032 | €406,919 | -€118,113 | -22.5% |
| Amounts receivable within one year | 40/41 | €61,673 | €33,851 | -€27,822 | -45.1% |
| Trade receivables | 40 | €15,787 | €31,782 | +€15,995 | +101% |
| Other amounts receivable | 41 | €45,886 | €2,069 | -€43,817 | -95.5% |
| Current investments | 50/53 | €261,956 | €132,680 | -€129,276 | -49.4% |
| Cash at bank and in hand | 54/58 | €170,114 | €211,358 | +€41,244 | +24.2% |
| Deferred charges and accrued income | 490/1 | €31,289 | €29,030 | -€2,259 | -7.2% |
| Total equity and liabilities | 10/49 | €731,800 | €533,642 | -€198,158 | -27.1% |
| Equity | 10/15 | €542,874 | €316,556 | -€226,319 | -41.7% |
| Contributions | 10/11 | €12,605 | €12,605 | = | 0.0% |
| Reserves | 13 | €530,269 | €303,950 | -€226,319 | -42.7% |
| Tax-exempt reserves | 132 | €177 | €177 | = | 0.0% |
| Distributable reserves | 133 | €530,092 | €303,774 | -€226,319 | -42.7% |
| Amounts payable | 17/49 | €188,925 | €217,086 | +€28,161 | +14.9% |
| Amounts payable after more than one year | 17 | €75,507 | €41,381 | -€34,126 | -45.2% |
| Financial debts | 170/4 | €75,507 | €41,381 | -€34,126 | -45.2% |
| Amounts payable within one year | 42/48 | €112,668 | €175,705 | +€63,038 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | €32,931 | €34,126 | +€1,195 | +3.6% |
| Trade debts | 44 | €4,992 | €13,229 | +€8,237 | +165% |
| Suppliers | 440/4 | €4,992 | €13,229 | +€8,237 | +165% |
| Taxes, remuneration and social security | 45 | €38,507 | €38,041 | -€466 | -1.2% |
| Taxes | 450/3 | €38,507 | €38,041 | -€466 | -1.2% |
| Other amounts payable | 47/48 | €36,238 | €90,310 | +€54,072 | +149% |
| Accrued charges and deferred income | 492/3 | €751 | - | -€751 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,378 | €49,241 | +€12,863 | +35.4% |
| Other operating charges | 640/8 | €7,520 | €5,716 | -€1,804 | -24.0% |
| Non-recurring operating charges | 66A | - | €686 | +€686 | |
| Gross operating margin | 9900 | €286,702 | €112,136 | -€174,567 | -60.9% |
| Operating profit (loss) | 9901 | €242,805 | €56,492 | -€186,312 | -76.7% |
| Financial income | 75/76B | €5,468 | €8,788 | +€3,320 | +60.7% |
| Recurring financial income | 75 | €5,468 | €8,788 | +€3,320 | +60.7% |
| Financial charges | 65/66B | €51,404 | €49,710 | -€1,694 | -3.3% |
| Recurring financial charges | 65 | €51,404 | €49,710 | -€1,694 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €196,868 | €15,570 | -€181,298 | -92.1% |
| Income taxes | 67/77 | €59,965 | €5,834 | -€54,131 | -90.3% |
| Profit (loss) for the period | 9904 | €136,903 | €9,736 | -€127,167 | -92.9% |
| Profit (loss) for the period to be appropriated | 9905 | €136,903 | €9,736 | -€127,167 | -92.9% |
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 23 October 2026 via checked.be.