DR. JOACHIM GIDTS: 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. JOACHIM GIDTS
Largest movements
- Cash +€215,080
up €215,080 (+54.9%), from €392,025 to €607,105
mainly Net result for the year (+€204,332) and Deferred charges and accrued income (+€16,241)
- Deferred charges and accrued income -€16,241
down €16,241 (-25.5%), from €63,614 to €47,372
- Profit (loss) carried forward +€204,332
up €204,332 (+44.9%), from €454,729 to €659,061
- Gross operating margin +€12,116
up €12,116 (+4.7%), from €257,972 to €270,088
- Taxes +€2,959
up €2,959 (+4.9%), from €60,747 to €63,706
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 | €460,673 | €666,538 | +€205,865 | +44.7% |
| Fixed assets | 21/28 | €5,034 | €10,531 | +€5,497 | +109% |
| Tangible fixed assets | 22/27 | €4,434 | €9,931 | +€5,497 | +124% |
| Plant, machinery and equipment | 23 | €2,548 | €1,139 | -€1,409 | -55.3% |
| Furniture and vehicles | 24 | €1,887 | €8,793 | +€6,906 | +366% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €455,638 | €656,006 | +€200,368 | +44.0% |
| Amounts receivable within one year | 40/41 | - | €1,529 | +€1,529 | |
| Trade receivables | 40 | - | €1,529 | +€1,529 | |
| Cash at bank and in hand | 54/58 | €392,025 | €607,105 | +€215,080 | +54.9% |
| Deferred charges and accrued income | 490/1 | €63,614 | €47,372 | -€16,241 | -25.5% |
| Total equity and liabilities | 10/49 | €460,673 | €666,538 | +€205,865 | +44.7% |
| Equity | 10/15 | €457,229 | €661,561 | +€204,332 | +44.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €454,729 | €659,061 | +€204,332 | +44.9% |
| Amounts payable | 17/49 | €3,444 | €4,977 | +€1,533 | +44.5% |
| Amounts payable within one year | 42/48 | €3,444 | €4,977 | +€1,533 | +44.5% |
| Trade debts | 44 | €1,089 | €82 | -€1,007 | -92.5% |
| Suppliers | 440/4 | €1,089 | €82 | -€1,007 | -92.5% |
| Taxes, remuneration and social security | 45 | €257 | €2,931 | +€2,674 | +1,041% |
| Taxes | 450/3 | €257 | €2,931 | +€2,674 | +1,041% |
| Other amounts payable | 47/48 | €2,098 | €1,964 | -€134 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,002 | €3,503 | +€1,501 | +74.9% |
| Other operating charges | 640/8 | €246 | €1,083 | +€837 | +340% |
| Gross operating margin | 9900 | €257,972 | €270,088 | +€12,116 | +4.7% |
| Operating profit (loss) | 9901 | €255,723 | €265,502 | +€9,779 | +3.8% |
| Financial income | 75/76B | €834 | €2,583 | +€1,750 | +210% |
| Recurring financial income | 75 | €834 | €2,583 | +€1,750 | +210% |
| Financial charges | 65/66B | €74 | €48 | -€26 | -35.4% |
| Recurring financial charges | 65 | €74 | €48 | -€26 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €256,484 | €268,038 | +€11,554 | +4.5% |
| Income taxes | 67/77 | €60,747 | €63,706 | +€2,959 | +4.9% |
| Profit (loss) for the period | 9904 | €195,736 | €204,332 | +€8,596 | +4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €195,736 | €204,332 | +€8,596 | +4.4% |
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 26 October 2026 via checked.be.