Dr. Jochen Darras: 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. Jochen Darras
Largest movements
- Tangible fixed assets -€17,660
down €17,660 (-39.5%), from €44,672 to €27,011
of which Leasing and similar rights: -€24,927
- Deferred charges and accrued income -€15,759
down €15,759 (-13.4%), from €117,277 to €101,518
- Cash -€10,462
down €10,462 (-15.0%), from €69,673 to €59,212
mainly Contributions, distributions and other (-€34,750) and Tax, wage and social debts (-€12,384)
- Receivables within one year -€3,399
down €3,399 (-19.9%), from €17,108 to €13,709
- Tax, wage and social debts -€12,384
down €12,384 (-71.3%), from €17,361 to €4,977
- Debts after one year -€10,530
down €10,530 (-100%), from €10,530 to €0
- Current portion of long-term debt -€10,172
down €10,172 (-100%), from €10,172 to €0
- Reserves -€9,550
down €9,550 (-5.3%), from €180,580 to €171,030
of which Distributable reserves: -€9,550
- Trade debts -€4,198
down €4,198 (-73.2%), from €5,735 to €1,537
- Gross operating margin -€32,449
down €32,449 (-33.0%), from €98,245 to €65,796
- Taxes -€8,856
down €8,856 (-38.8%), from €22,837 to €13,980
- Other operating charges +€1,378
up €1,378 (+44.1%), from €3,123 to €4,501
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 | €250,979 | €203,700 | -€47,280 | -18.8% |
| Fixed assets | 21/28 | €46,922 | €29,261 | -€17,660 | -37.6% |
| Tangible fixed assets | 22/27 | €44,672 | €27,011 | -€17,660 | -39.5% |
| Plant, machinery and equipment | 23 | €7,956 | €6,717 | -€1,239 | -15.6% |
| Furniture and vehicles | 24 | €5,481 | €15,537 | +€10,056 | +183% |
| Leasing and similar rights | 25 | €24,927 | €0 | -€24,927 | -100% |
| Other tangible fixed assets | 26 | €6,308 | €4,757 | -€1,550 | -24.6% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €204,058 | €174,438 | -€29,619 | -14.5% |
| Amounts receivable within one year | 40/41 | €17,108 | €13,709 | -€3,399 | -19.9% |
| Other amounts receivable | 41 | €17,108 | €13,709 | -€3,399 | -19.9% |
| Cash at bank and in hand | 54/58 | €69,673 | €59,212 | -€10,462 | -15.0% |
| Deferred charges and accrued income | 490/1 | €117,277 | €101,518 | -€15,759 | -13.4% |
| Total equity and liabilities | 10/49 | €250,979 | €203,700 | -€47,280 | -18.8% |
| Equity | 10/15 | €206,093 | €196,548 | -€9,546 | -4.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €180,580 | €171,030 | -€9,550 | -5.3% |
| Tax-exempt reserves | 132 | €830 | €830 | = | 0.0% |
| Distributable reserves | 133 | €179,750 | €170,200 | -€9,550 | -5.3% |
| Profit (loss) carried forward | 14 | €13,113 | €13,117 | +€4 | 0.0% |
| Amounts payable | 17/49 | €44,886 | €7,152 | -€37,734 | -84.1% |
| Amounts payable after more than one year | 17 | €10,530 | €0 | -€10,530 | -100% |
| Financial debts | 170/4 | €10,530 | €0 | -€10,530 | -100% |
| Amounts payable within one year | 42/48 | €33,852 | €6,513 | -€27,338 | -80.8% |
| Current portion of amounts payable after more than one year | 42 | €10,172 | €0 | -€10,172 | -100% |
| Trade debts | 44 | €5,735 | €1,537 | -€4,198 | -73.2% |
| Suppliers | 440/4 | €5,735 | €1,537 | -€4,198 | -73.2% |
| Taxes, remuneration and social security | 45 | €17,361 | €4,977 | -€12,384 | -71.3% |
| Taxes | 450/3 | €17,361 | €4,977 | -€12,384 | -71.3% |
| Other amounts payable | 47/48 | €583 | €0 | -€583 | -100% |
| Accrued charges and deferred income | 492/3 | €504 | €639 | +€135 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,614 | €22,075 | +€461 | +2.1% |
| Other operating charges | 640/8 | €3,123 | €4,501 | +€1,378 | +44.1% |
| Non-recurring operating charges | 66A | €947 | €0 | -€947 | -100% |
| Gross operating margin | 9900 | €98,245 | €65,796 | -€32,449 | -33.0% |
| Operating profit (loss) | 9901 | €72,561 | €39,221 | -€33,340 | -45.9% |
| Financial income | 75/76B | €58 | €428 | +€370 | +634% |
| Recurring financial income | 75 | €58 | €428 | +€370 | +634% |
| Financial charges | 65/66B | €553 | €464 | -€89 | -16.0% |
| Recurring financial charges | 65 | €553 | €464 | -€89 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €72,066 | €39,184 | -€32,882 | -45.6% |
| Income taxes | 67/77 | €22,837 | €13,980 | -€8,856 | -38.8% |
| Profit (loss) for the period | 9904 | €49,229 | €25,204 | -€24,025 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,229 | €25,204 | -€24,025 | -48.8% |
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.