Dr. J. Van Thorre: 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 Thorre
Largest movements
- Cash +€76,621
up €76,621 (+144%), from €53,041 to €129,663
mainly Net result for the year (+€73,033) and Tax, wage and social debts (+€18,953)
- Intangible fixed assets +€20,651
new in 2025: €20,651
- Tangible fixed assets -€5,817
down €5,817 (-38.9%), from €14,962 to €9,145
of which Furniture and vehicles: -€5,117
- Reserves +€73,033
up €73,033 (+186%), from €39,283 to €112,316
- Tax, wage and social debts +€18,953
up €18,953 (+169%), from €11,199 to €30,152
- Gross operating margin +€43,954
up €43,954 (+79.3%), from €55,462 to €99,416
- Taxes +€8,373
up €8,373 (+76.4%), from €10,959 to €19,332
- Depreciation +€3,066
up €3,066 (+78.8%), from €3,888 to €6,954
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 | €74,242 | €166,395 | +€92,153 | +124% |
| Fixed assets | 21/28 | €14,962 | €29,796 | +€14,835 | +99.2% |
| Intangible fixed assets | 21 | - | €20,651 | +€20,651 | |
| Tangible fixed assets | 22/27 | €14,962 | €9,145 | -€5,817 | -38.9% |
| Plant, machinery and equipment | 23 | €3,032 | €2,332 | -€700 | -23.1% |
| Furniture and vehicles | 24 | €11,930 | €6,813 | -€5,117 | -42.9% |
| Current assets | 29/58 | €59,281 | €136,599 | +€77,318 | +130% |
| Cash at bank and in hand | 54/58 | €53,041 | €129,663 | +€76,621 | +144% |
| Deferred charges and accrued income | 490/1 | €6,239 | €6,936 | +€697 | +11.2% |
| Total equity and liabilities | 10/49 | €74,242 | €166,395 | +€92,153 | +124% |
| Equity | 10/15 | €42,783 | €115,816 | +€73,033 | +171% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €39,283 | €112,316 | +€73,033 | +186% |
| Distributable reserves | 133 | €39,283 | €112,316 | +€73,033 | +186% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €31,459 | €50,579 | +€19,120 | +60.8% |
| Amounts payable within one year | 42/48 | €30,910 | €50,579 | +€19,669 | +63.6% |
| Trade debts | 44 | €403 | €1,735 | +€1,332 | +330% |
| Suppliers | 440/4 | €403 | €1,735 | +€1,332 | +330% |
| Taxes, remuneration and social security | 45 | €11,199 | €30,152 | +€18,953 | +169% |
| Taxes | 450/3 | €11,199 | €30,152 | +€18,953 | +169% |
| Other amounts payable | 47/48 | €19,308 | €18,691 | -€617 | -3.2% |
| Accrued charges and deferred income | 492/3 | €549 | €0 | -€549 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,888 | €6,954 | +€3,066 | +78.8% |
| Other operating charges | 640/8 | €505 | €488 | -€18 | -3.5% |
| Gross operating margin | 9900 | €55,462 | €99,416 | +€43,954 | +79.3% |
| Operating profit (loss) | 9901 | €51,068 | €91,975 | +€40,906 | +80.1% |
| Financial income | 75/76B | - | €463 | +€463 | |
| Recurring financial income | 75 | - | €463 | +€463 | |
| Financial charges | 65/66B | €26 | €73 | +€46 | +176% |
| Recurring financial charges | 65 | €26 | €73 | +€46 | +176% |
| Profit (loss) for the period before taxes | 9903 | €51,042 | €92,365 | +€41,323 | +81.0% |
| Income taxes | 67/77 | €10,959 | €19,332 | +€8,373 | +76.4% |
| Profit (loss) for the period | 9904 | €40,083 | €73,033 | +€32,950 | +82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,083 | €73,033 | +€32,950 | +82.2% |
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.