Dr. Johan Debeuf: 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 Debeuf
Largest movements
- Cash +€298,031
up €298,031 (+506.4%), from €58,855 to €356,886
mainly Net result for the year (+€147,261) and Investment in fixed assets (net) (+€56,399)
- Tangible fixed assets -€70,838
down €70,838 (-37.6%), from €188,594 to €117,756
of which Furniture and vehicles: -€64,556
- Current investments -€44,112
down €44,112 (-16.6%), from €265,827 to €221,715
- Receivables within one year -€30,839
down €30,839 (-89.8%), from €34,325 to €3,486
of which Trade receivables: -€30,926
- Reserves +€147,261
up €147,261 (+20.1%), from €733,367 to €880,629
- Other debts -€28,349
down €28,349 (-100.0%), from €28,349 to €0
- Tax, wage and social debts +€18,251
up €18,251 (+32.5%), from €56,148 to €74,400
of which Taxes: +€19,270
- Trade debts +€14,908
up €14,908 (+5724.3%), from €260 to €15,169
- Gross operating margin -€75,859
down €75,859 (-23.2%), from €326,862 to €251,004
- Taxes -€21,760
down €21,760 (-24.7%), from €88,203 to €66,443
- Depreciation -€9,484
down €9,484 (-39.6%), from €23,922 to €14,438
- Staff costs -€7,041
down €7,041 (-18.7%), from €37,691 to €30,651
- Financial charges -€4,825
down €4,825, from €4,745 to -€80
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.
Cash bridge derived
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 | €830,586 | €982,597 | +€152,011 | +18.3% |
| Fixed assets | 21/28 | €188,594 | €117,756 | -€70,838 | -37.6% |
| Tangible fixed assets | 22/27 | €188,594 | €117,756 | -€70,838 | -37.6% |
| Land and buildings | 22 | €93,002 | €86,721 | -€6,282 | -6.8% |
| Plant, machinery and equipment | 23 | €6,395 | €6,395 | = | 0.0% |
| Furniture and vehicles | 24 | €89,197 | €24,641 | -€64,556 | -72.4% |
| Current assets | 29/58 | €641,993 | €864,841 | +€222,849 | +34.7% |
| Amounts receivable after more than one year | 29 | €280,000 | €280,000 | = | 0.0% |
| Other amounts receivable | 291 | €280,000 | €280,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,325 | €3,486 | -€30,839 | -89.8% |
| Trade receivables | 40 | €34,325 | €3,399 | -€30,926 | -90.1% |
| Other amounts receivable | 41 | - | €87 | +€87 | |
| Current investments | 50/53 | €265,827 | €221,715 | -€44,112 | -16.6% |
| Cash at bank and in hand | 54/58 | €58,855 | €356,886 | +€298,031 | +506.4% |
| Deferred charges and accrued income | 490/1 | €2,985 | €2,754 | -€232 | -7.8% |
| Total equity and liabilities | 10/49 | €830,586 | €982,597 | +€152,011 | +18.3% |
| Equity | 10/15 | €745,767 | €893,029 | +€147,261 | +19.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €733,367 | €880,629 | +€147,261 | +20.1% |
| Distributable reserves | 133 | €733,367 | €880,629 | +€147,261 | +20.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €84,819 | €89,569 | +€4,750 | +5.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €84,758 | €89,569 | +€4,810 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €260 | €15,169 | +€14,908 | +5724.3% |
| Suppliers | 440/4 | €260 | €15,169 | +€14,908 | +5724.3% |
| Taxes, remuneration and social security | 45 | €56,148 | €74,400 | +€18,251 | +32.5% |
| Taxes | 450/3 | €44,719 | €63,988 | +€19,270 | +43.1% |
| Remuneration and social security | 454/9 | €11,430 | €10,412 | -€1,018 | -8.9% |
| Other amounts payable | 47/48 | €28,349 | €0 | -€28,349 | -100.0% |
| Accrued charges and deferred income | 492/3 | €61 | €0 | -€61 | -100.0% |
| Non-recurring operating income | 76A | €92,314 | €7,500 | -€84,814 | -91.9% |
| Remuneration, social security and pensions | 62 | €37,691 | €30,651 | -€7,041 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,922 | €14,438 | -€9,484 | -39.6% |
| Other operating charges | 640/8 | €7,386 | €3,807 | -€3,579 | -48.5% |
| Non-recurring operating charges | 66A | - | €7,798 | +€7,798 | |
| Gross operating margin | 9900 | €326,862 | €251,004 | -€75,859 | -23.2% |
| Operating profit (loss) | 9901 | €257,863 | €194,310 | -€63,553 | -24.6% |
| Financial income | 75/76B | €20,741 | €19,315 | -€1,427 | -6.9% |
| Recurring financial income | 75 | €20,741 | €19,315 | -€1,427 | -6.9% |
| Financial charges | 65/66B | €4,745 | -€80 | -€4,825 | |
| Recurring financial charges | 65 | €4,745 | -€80 | -€4,825 | |
| Profit (loss) for the period before taxes | 9903 | €273,860 | €213,704 | -€60,155 | -22.0% |
| Income taxes | 67/77 | €88,203 | €66,443 | -€21,760 | -24.7% |
| Profit (loss) for the period | 9904 | €185,657 | €147,261 | -€38,395 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €185,657 | €147,261 | -€38,395 | -20.7% |
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 11 October 2026 via checked.be.