DR J. VAN DROOGENBROECK: 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. VAN DROOGENBROECK
Largest movements
- Cash -€217,545
down €217,545 (-22.3%), from €977,630 to €760,085
mainly Other debts (-€481,163) and Investment in fixed assets (net) (-€54,957)
- Other debts -€481,163
down €481,163 (-51.8%), from €929,400 to €448,237
- Reserves +€280,387
up €280,387 (+18.1%), from €1.6m to €1.8m
of which Distributable reserves: +€280,387
- Gross operating margin +€72,462
up €72,462 (+17.0%), from €426,836 to €499,298
- Taxes +€31,851
up €31,851 (+31.9%), from €99,896 to €131,748
- Depreciation -€11,289
down €11,289 (-22.9%), from €49,297 to €38,008
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 | €2,677,087 | €2,470,245 | -€206,842 | -7.7% |
| Fixed assets | 21/28 | €750,488 | €767,437 | +€16,949 | +2.3% |
| Tangible fixed assets | 22/27 | €749,926 | €766,874 | +€16,949 | +2.3% |
| Land and buildings | 22 | €735,307 | €699,069 | -€36,238 | -4.9% |
| Plant, machinery and equipment | 23 | €3,626 | €3,626 | = | 0.0% |
| Furniture and vehicles | 24 | €10,993 | €64,179 | +€53,186 | +484% |
| Financial fixed assets | 28 | €563 | €563 | = | 0.0% |
| Current assets | 29/58 | €1,926,599 | €1,702,809 | -€223,791 | -11.6% |
| Amounts receivable within one year | 40/41 | €79,917 | €72,549 | -€7,369 | -9.2% |
| Trade receivables | 40 | €79,917 | €72,549 | -€7,369 | -9.2% |
| Current investments | 50/53 | €869,051 | €869,051 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €977,630 | €760,085 | -€217,545 | -22.3% |
| Deferred charges and accrued income | 490/1 | - | €1,124 | +€1,124 | |
| Total equity and liabilities | 10/49 | €2,677,087 | €2,470,245 | -€206,842 | -7.7% |
| Equity | 10/15 | €1,558,503 | €1,838,890 | +€280,387 | +18.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,552,303 | €1,832,690 | +€280,387 | +18.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,550,443 | €1,830,830 | +€280,387 | +18.1% |
| Amounts payable | 17/49 | €1,118,585 | €631,356 | -€487,229 | -43.6% |
| Amounts payable after more than one year | 17 | €71,666 | €51,666 | -€20,000 | -27.9% |
| Financial debts | 170/4 | €71,666 | €51,666 | -€20,000 | -27.9% |
| Amounts payable within one year | 42/48 | €1,041,489 | €572,757 | -€468,732 | -45.0% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €218 | €3,590 | +€3,372 | +1,547% |
| Suppliers | 440/4 | €218 | €3,590 | +€3,372 | +1,547% |
| Taxes, remuneration and social security | 45 | €91,871 | €100,930 | +€9,059 | +9.9% |
| Taxes | 450/3 | €91,871 | €100,930 | +€9,059 | +9.9% |
| Other amounts payable | 47/48 | €929,400 | €448,237 | -€481,163 | -51.8% |
| Accrued charges and deferred income | 492/3 | €5,430 | €6,933 | +€1,503 | +27.7% |
| Non-recurring operating income | 76A | - | €2,507 | +€2,507 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,297 | €38,008 | -€11,289 | -22.9% |
| Other operating charges | 640/8 | €4,097 | €4,220 | +€123 | +3.0% |
| Gross operating margin | 9900 | €426,836 | €499,298 | +€72,462 | +17.0% |
| Operating profit (loss) | 9901 | €373,442 | €457,070 | +€83,628 | +22.4% |
| Financial income | 75/76B | €2,048 | €6,026 | +€3,979 | +194% |
| Recurring financial income | 75 | €2,048 | €6,026 | +€3,979 | +194% |
| Financial charges | 65/66B | €54,611 | €50,962 | -€3,650 | -6.7% |
| Recurring financial charges | 65 | €54,611 | €50,962 | -€3,650 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €320,878 | €412,135 | +€91,256 | +28.4% |
| Income taxes | 67/77 | €99,896 | €131,748 | +€31,851 | +31.9% |
| Profit (loss) for the period | 9904 | €220,982 | €280,387 | +€59,405 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €220,982 | €280,387 | +€59,405 | +26.9% |
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 31 October 2026 via checked.be.