Dr. Joeri Bens: 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. Joeri Bens
Largest movements
- Receivables within one year -€19,733
down €19,733 (-15.3%), from €129,200 to €109,468
of which Other amounts receivable: -€20,424
- Tangible fixed assets -€3,653
down €3,653 (-6.3%), from €57,570 to €53,917
of which Land and buildings: -€3,345
- Trade debts -€16,737
down €16,737 (-62.5%), from €26,760 to €10,022
- Reserves +€14,131
up €14,131 (+8.9%), from €158,217 to €172,348
- Debts after one year -€10,471
down €10,471 (-100%), from €10,471 to €0
- Tax, wage and social debts -€5,959
down €5,959 (-26.9%), from €22,118 to €16,159
of which Taxes: -€5,989
- Current portion of long-term debt -€4,253
down €4,253 (-28.9%), from €14,724 to €10,471
- Gross operating margin +€31,796
up €31,796, from -€1,399 to €30,397
- Taxes +€9,862
up €9,862 (+1,523%), from €647 to €10,510
- Financial income -€2,015
down €2,015 (-24.7%), from €8,157 to €6,142
- Other operating charges -€1,556
down €1,556 (-47.2%), from €3,297 to €1,741
- Financial charges +€1,161
up €1,161 (+58.2%), from €1,994 to €3,155
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 | €244,994 | €221,401 | -€23,593 | -9.6% |
| Fixed assets | 21/28 | €107,570 | €103,917 | -€3,653 | -3.4% |
| Tangible fixed assets | 22/27 | €57,570 | €53,917 | -€3,653 | -6.3% |
| Land and buildings | 22 | €50,179 | €46,834 | -€3,345 | -6.7% |
| Plant, machinery and equipment | 23 | €3,242 | €4,643 | +€1,402 | +43.2% |
| Furniture and vehicles | 24 | €4,148 | €2,439 | -€1,709 | -41.2% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €137,425 | €117,484 | -€19,941 | -14.5% |
| Amounts receivable within one year | 40/41 | €129,200 | €109,468 | -€19,733 | -15.3% |
| Trade receivables | 40 | €3,208 | €3,900 | +€692 | +21.6% |
| Other amounts receivable | 41 | €125,992 | €105,568 | -€20,424 | -16.2% |
| Cash at bank and in hand | 54/58 | €7,215 | €5,935 | -€1,279 | -17.7% |
| Deferred charges and accrued income | 490/1 | €1,010 | €2,081 | +€1,071 | +106% |
| Total equity and liabilities | 10/49 | €244,994 | €221,401 | -€23,593 | -9.6% |
| Equity | 10/15 | €170,617 | €184,748 | +€14,131 | +8.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €158,217 | €172,348 | +€14,131 | +8.9% |
| Distributable reserves | 133 | €158,217 | €172,348 | +€14,131 | +8.9% |
| Amounts payable | 17/49 | €74,377 | €36,653 | -€37,724 | -50.7% |
| Amounts payable after more than one year | 17 | €10,471 | €0 | -€10,471 | -100% |
| Financial debts | 170/4 | €10,471 | €0 | -€10,471 | -100% |
| Amounts payable within one year | 42/48 | €63,906 | €36,653 | -€27,253 | -42.6% |
| Current portion of amounts payable after more than one year | 42 | €14,724 | €10,471 | -€4,253 | -28.9% |
| Financial debts | 43 | €305 | €0 | -€305 | -100% |
| Other loans | 439 | €305 | €0 | -€305 | -100% |
| Trade debts | 44 | €26,760 | €10,022 | -€16,737 | -62.5% |
| Suppliers | 440/4 | €26,760 | €10,022 | -€16,737 | -62.5% |
| Taxes, remuneration and social security | 45 | €22,118 | €16,159 | -€5,959 | -26.9% |
| Taxes | 450/3 | €16,648 | €10,659 | -€5,989 | -36.0% |
| Remuneration and social security | 454/9 | €5,470 | €5,500 | +€30 | +0.5% |
| Remuneration, social security and pensions | 62 | €171 | €0 | -€171 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,857 | €7,001 | +€143 | +2.1% |
| Other operating charges | 640/8 | €3,297 | €1,741 | -€1,556 | -47.2% |
| Gross operating margin | 9900 | -€1,399 | €30,397 | +€31,796 | |
| Operating profit (loss) | 9901 | -€11,725 | €21,655 | +€33,379 | |
| Financial income | 75/76B | €8,157 | €6,142 | -€2,015 | -24.7% |
| Recurring financial income | 75 | €8,157 | €6,142 | -€2,015 | -24.7% |
| Financial charges | 65/66B | €1,994 | €3,155 | +€1,161 | +58.2% |
| Recurring financial charges | 65 | €1,994 | €3,155 | +€1,161 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,562 | €24,641 | +€30,203 | |
| Income taxes | 67/77 | €647 | €10,510 | +€9,862 | +1,523% |
| Profit (loss) for the period | 9904 | -€6,209 | €14,131 | +€20,340 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,209 | €14,131 | +€20,340 |
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.