DR. J. TITS: 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. TITS
Largest movements
- Cash +€487,933
up €487,933 (+328%), from €148,701 to €636,634
mainly Current investments (+€398,871) and Net result for the year (+€127,785)
- Current investments -€398,871
down €398,871 (-100%), from €398,871 to €0
- Receivables within one year +€20,857
up €20,857 (+159%), from €13,141 to €33,998
of which Other amounts receivable: +€32,764
- Reserves +€127,785
up €127,785 (+24.5%), from €522,305 to €650,090
of which Distributable reserves: +€127,785
- Other debts -€28,962
down €28,962 (-100%), from €28,962 to €0
- Financial income +€74,173
up €74,173 (+4,330%), from €1,713 to €75,886
- Gross operating margin -€16,814
down €16,814 (-15.8%), from €106,482 to €89,668
- Depreciation -€15,072
down €15,072 (-100%), from €15,072 to €0
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 | €566,771 | €671,495 | +€104,724 | +18.5% |
| Fixed assets | 21/28 | €6,058 | €0 | -€6,058 | -100% |
| Tangible fixed assets | 22/27 | €6,058 | €0 | -€6,058 | -100% |
| Plant, machinery and equipment | 23 | €1,287 | €0 | -€1,287 | -100% |
| Furniture and vehicles | 24 | €4,771 | €0 | -€4,771 | -100% |
| Current assets | 29/58 | €560,713 | €671,495 | +€110,782 | +19.8% |
| Amounts receivable within one year | 40/41 | €13,141 | €33,998 | +€20,857 | +159% |
| Trade receivables | 40 | €11,907 | €0 | -€11,907 | -100% |
| Other amounts receivable | 41 | €1,234 | €33,998 | +€32,764 | +2,656% |
| Current investments | 50/53 | €398,871 | €0 | -€398,871 | -100% |
| Cash at bank and in hand | 54/58 | €148,701 | €636,634 | +€487,933 | +328% |
| Deferred charges and accrued income | 490/1 | €0 | €863 | +€863 | |
| Total equity and liabilities | 10/49 | €566,771 | €671,495 | +€104,724 | +18.5% |
| Equity | 10/15 | €534,705 | €662,490 | +€127,785 | +23.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €522,305 | €650,090 | +€127,785 | +24.5% |
| Non-distributable reserves | 130/1 | €7,260 | €7,260 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,260 | €7,260 | = | 0.0% |
| Distributable reserves | 133 | €515,045 | €642,830 | +€127,785 | +24.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €32,067 | €9,005 | -€23,062 | -71.9% |
| Amounts payable within one year | 42/48 | €31,067 | €9,005 | -€22,062 | -71.0% |
| Trade debts | 44 | €1,259 | €1,612 | +€353 | +28.0% |
| Suppliers | 440/4 | €1,259 | €1,612 | +€353 | +28.0% |
| Taxes, remuneration and social security | 45 | €845 | €7,393 | +€6,548 | +775% |
| Taxes | 450/3 | €845 | €7,393 | +€6,548 | +775% |
| Other amounts payable | 47/48 | €28,962 | €0 | -€28,962 | -100% |
| Accrued charges and deferred income | 492/3 | €1,000 | €0 | -€1,000 | -100% |
| Non-recurring operating income | 76A | - | €8,561 | +€8,561 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,072 | €0 | -€15,072 | -100% |
| Other operating charges | 640/8 | €928 | €907 | -€21 | -2.3% |
| Gross operating margin | 9900 | €106,482 | €89,668 | -€16,814 | -15.8% |
| Operating profit (loss) | 9901 | €90,482 | €88,761 | -€1,721 | -1.9% |
| Financial income | 75/76B | €1,713 | €75,886 | +€74,173 | +4,330% |
| Recurring financial income | 75 | €1,713 | €75,886 | +€74,173 | +4,330% |
| Financial charges | 65/66B | €585 | €411 | -€175 | -29.9% |
| Recurring financial charges | 65 | €585 | €411 | -€175 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | €91,609 | €164,237 | +€72,627 | +79.3% |
| Income taxes | 67/77 | €36,155 | €36,451 | +€296 | +0.8% |
| Profit (loss) for the period | 9904 | €55,454 | €127,785 | +€72,331 | +130% |
| Profit (loss) for the period to be appropriated | 9905 | €55,454 | €127,785 | +€72,331 | +130% |
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 18 October 2026 via checked.be.