Dr. Johan BOLLEN: 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. Johan BOLLEN
Largest movements
- Cash +€285,865
up €285,865 (+185%), from €154,116 to €439,981
mainly Current investments (+€200,000) and Receivables within one year (+€83,184)
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Receivables within one year -€83,184
down €83,184 (-83.0%), from €100,171 to €16,988
of which Other amounts receivable: -€79,073
- Tangible fixed assets -€20,100
down €20,100 (-7.0%), from €286,377 to €266,277
of which Furniture and vehicles: -€12,620
- Reserves -€21,251
down €21,251 (-2.9%), from €725,605 to €704,354
- Gross operating margin +€21,573
up €21,573, from -€8,665 to €12,909
- Financial income +€909
up €909 (+9.4%), from €9,701 to €10,611
- Other operating charges +€673
up €673 (+19.9%), from €3,388 to €4,061
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 | €742,053 | €723,246 | -€18,807 | -2.5% |
| Fixed assets | 21/28 | €286,377 | €266,277 | -€20,100 | -7.0% |
| Tangible fixed assets | 22/27 | €286,377 | €266,277 | -€20,100 | -7.0% |
| Land and buildings | 22 | €253,564 | €246,601 | -€6,963 | -2.7% |
| Plant, machinery and equipment | 23 | €5,983 | €5,466 | -€517 | -8.6% |
| Furniture and vehicles | 24 | €26,831 | €14,211 | -€12,620 | -47.0% |
| Current assets | 29/58 | €455,676 | €456,968 | +€1,293 | +0.3% |
| Amounts receivable within one year | 40/41 | €100,171 | €16,988 | -€83,184 | -83.0% |
| Trade receivables | 40 | €4,551 | €440 | -€4,111 | -90.3% |
| Other amounts receivable | 41 | €95,620 | €16,547 | -€79,073 | -82.7% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €154,116 | €439,981 | +€285,865 | +185% |
| Deferred charges and accrued income | 490/1 | €1,389 | - | -€1,389 | |
| Total equity and liabilities | 10/49 | €742,053 | €723,246 | -€18,807 | -2.5% |
| Equity | 10/15 | €738,213 | €716,962 | -€21,251 | -2.9% |
| Contributions | 10/11 | €12,608 | €12,608 | = | 0.0% |
| Reserves | 13 | €725,605 | €704,354 | -€21,251 | -2.9% |
| Distributable reserves | 133 | €725,605 | €704,354 | -€21,251 | -2.9% |
| Amounts payable | 17/49 | €3,840 | €6,284 | +€2,444 | +63.6% |
| Amounts payable within one year | 42/48 | €3,840 | €3,443 | -€397 | -10.3% |
| Trade debts | 44 | €1,673 | €597 | -€1,077 | -64.3% |
| Suppliers | 440/4 | €1,673 | €597 | -€1,077 | -64.3% |
| Other amounts payable | 47/48 | €2,167 | €2,846 | +€679 | +31.3% |
| Accrued charges and deferred income | 492/3 | - | €2,841 | +€2,841 | |
| Non-recurring operating income | 76A | - | €20,207 | +€20,207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,410 | €21,359 | -€51 | -0.2% |
| Other operating charges | 640/8 | €3,388 | €4,061 | +€673 | +19.9% |
| Gross operating margin | 9900 | -€8,665 | €12,909 | +€21,573 | |
| Operating profit (loss) | 9901 | -€33,462 | -€12,511 | +€20,952 | +62.6% |
| Financial income | 75/76B | €9,701 | €10,611 | +€909 | +9.4% |
| Recurring financial income | 75 | €9,701 | €10,611 | +€909 | +9.4% |
| Financial charges | 65/66B | €0 | €0 | = | 0.0% |
| Recurring financial charges | 65 | €0 | €0 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,761 | -€1,900 | +€21,861 | +92.0% |
| Income taxes | 67/77 | €459 | €409 | -€50 | -10.9% |
| Profit (loss) for the period | 9904 | -€24,220 | -€2,309 | +€21,911 | +90.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,220 | -€2,309 | +€21,911 | +90.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.