Dr. J. Hoerée: 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. Hoerée
Largest movements
- Cash +€18,193
up €18,193 (+5.8%), from €315,343 to €333,536
mainly Net result for the year (+€299,258) and Other debts (+€10,258)
- Other debts +€10,258
up €10,258 (+3.5%), from €289,000 to €299,258
- Tax, wage and social debts +€9,605
up €9,605 (+64.5%), from €14,894 to €24,499
- Gross operating margin +€13,504
up €13,504 (+3.5%), from €385,705 to €399,209
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 | €323,874 | €342,386 | +€18,512 | +5.7% |
| Fixed assets | 21/28 | €5,119 | €7,715 | +€2,596 | +50.7% |
| Tangible fixed assets | 22/27 | €5,119 | €7,715 | +€2,596 | +50.7% |
| Furniture and vehicles | 24 | €3,822 | €6,728 | +€2,905 | +76.0% |
| Other tangible fixed assets | 26 | €1,297 | €987 | -€310 | -23.9% |
| Current assets | 29/58 | €318,755 | €334,671 | +€15,916 | +5.0% |
| Amounts receivable within one year | 40/41 | €1,388 | €0 | -€1,388 | -100% |
| Trade receivables | 40 | €864 | - | -€864 | |
| Other amounts receivable | 41 | €524 | €0 | -€524 | -100% |
| Cash at bank and in hand | 54/58 | €315,343 | €333,536 | +€18,193 | +5.8% |
| Deferred charges and accrued income | 490/1 | €2,024 | €1,135 | -€889 | -43.9% |
| Total equity and liabilities | 10/49 | €323,874 | €342,386 | +€18,512 | +5.7% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €305,274 | €323,786 | +€18,512 | +6.1% |
| Amounts payable within one year | 42/48 | €305,274 | €323,786 | +€18,512 | +6.1% |
| Trade debts | 44 | €1,380 | €28 | -€1,351 | -98.0% |
| Suppliers | 440/4 | €1,380 | €28 | -€1,351 | -98.0% |
| Taxes, remuneration and social security | 45 | €14,894 | €24,499 | +€9,605 | +64.5% |
| Taxes | 450/3 | €14,894 | €24,499 | +€9,605 | +64.5% |
| Other amounts payable | 47/48 | €289,000 | €299,258 | +€10,258 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,752 | €3,273 | +€521 | +18.9% |
| Other operating charges | 640/8 | €1,518 | €1,773 | +€255 | +16.8% |
| Gross operating margin | 9900 | €385,705 | €399,209 | +€13,504 | +3.5% |
| Operating profit (loss) | 9901 | €381,435 | €394,163 | +€12,728 | +3.3% |
| Financial income | 75/76B | €0 | €1,064 | +€1,064 | |
| Recurring financial income | 75 | €0 | €1,064 | +€1,064 | |
| Financial charges | 65/66B | €1,041 | €1,045 | +€4 | +0.4% |
| Recurring financial charges | 65 | €1,041 | €1,045 | +€4 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €380,394 | €394,182 | +€13,788 | +3.6% |
| Income taxes | 67/77 | €91,394 | €94,924 | +€3,530 | +3.9% |
| Profit (loss) for the period | 9904 | €289,000 | €299,258 | +€10,258 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €289,000 | €299,258 | +€10,258 | +3.5% |
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.