dr Jan DELDYCKE: 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 Jan DELDYCKE
Largest movements
- Cash -€65,983
down €65,983 (-10.6%), from €620,836 to €554,853
mainly Contributions, distributions and other (-€130,000) and Current investments (-€25,986)
- Tangible fixed assets -€32,809
down €32,809 (-38.9%), from €84,350 to €51,541
of which Furniture and vehicles: -€32,010
- Current investments +€25,986
up €25,986 (+37.5%), from €69,367 to €95,352
- Reserves -€62,285
down €62,285 (-8.3%), from €753,210 to €690,925
of which Distributable reserves: -€62,285
- Gross operating margin -€22,140
down €22,140 (-15.5%), from €142,398 to €120,258
- Financial income -€11,879
down €11,879 (-59.9%), from €19,846 to €7,966
- Taxes -€10,195
down €10,195 (-27.8%), from €36,650 to €26,455
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 | €775,549 | €709,027 | -€66,522 | -8.6% |
| Fixed assets | 21/28 | €84,350 | €51,541 | -€32,809 | -38.9% |
| Tangible fixed assets | 22/27 | €84,350 | €51,541 | -€32,809 | -38.9% |
| Plant, machinery and equipment | 23 | €885 | €85 | -€799 | -90.3% |
| Furniture and vehicles | 24 | €83,466 | €51,456 | -€32,010 | -38.4% |
| Current assets | 29/58 | €691,198 | €657,486 | -€33,713 | -4.9% |
| Amounts receivable within one year | 40/41 | €995 | €7,280 | +€6,284 | +631% |
| Other amounts receivable | 41 | €995 | €7,280 | +€6,284 | +631% |
| Current investments | 50/53 | €69,367 | €95,352 | +€25,986 | +37.5% |
| Cash at bank and in hand | 54/58 | €620,836 | €554,853 | -€65,983 | -10.6% |
| Total equity and liabilities | 10/49 | €775,549 | €709,027 | -€66,522 | -8.6% |
| Equity | 10/15 | €765,610 | €703,325 | -€62,285 | -8.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €753,210 | €690,925 | -€62,285 | -8.3% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Distributable reserves | 133 | €749,490 | €687,205 | -€62,285 | -8.3% |
| Amounts payable | 17/49 | €9,939 | €5,702 | -€4,237 | -42.6% |
| Amounts payable within one year | 42/48 | €9,939 | €5,702 | -€4,237 | -42.6% |
| Trade debts | 44 | €3,680 | €5,681 | +€2,001 | +54.4% |
| Suppliers | 440/4 | €3,680 | €5,681 | +€2,001 | +54.4% |
| Taxes, remuneration and social security | 45 | €6,258 | €20 | -€6,238 | -99.7% |
| Taxes | 450/3 | €6,258 | €20 | -€6,238 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,742 | €32,809 | -€933 | -2.8% |
| Other operating charges | 640/8 | €571 | €528 | -€44 | -7.6% |
| Gross operating margin | 9900 | €142,398 | €120,258 | -€22,140 | -15.5% |
| Operating profit (loss) | 9901 | €108,085 | €86,921 | -€21,164 | -19.6% |
| Financial income | 75/76B | €19,846 | €7,966 | -€11,879 | -59.9% |
| Recurring financial income | 75 | €19,846 | €7,966 | -€11,879 | -59.9% |
| Financial charges | 65/66B | €1,875 | €717 | -€1,157 | -61.7% |
| Recurring financial charges | 65 | €1,875 | €717 | -€1,157 | -61.7% |
| Profit (loss) for the period before taxes | 9903 | €126,056 | €94,170 | -€31,886 | -25.3% |
| Income taxes | 67/77 | €36,650 | €26,455 | -€10,195 | -27.8% |
| Profit (loss) for the period | 9904 | €89,406 | €67,715 | -€21,691 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €89,406 | €67,715 | -€21,691 | -24.3% |
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 16 October 2026 via checked.be.