Dr. K. Nulens: what changed
Dr. K. Nulens
Largest movements
- Cash +€35,972
up €35,972 (+113%), from €31,788 to €67,760
mainly Net result for the year (+€61,379) and Tax, wage and social debts (+€3,741)
- Deferred charges and accrued income +€23,915
up €23,915 (+154%), from €15,512 to €39,427
- Tangible fixed assets +€7,638
new in 2025: €7,638
of which Land and buildings: +€7,247
- Reserves +€61,379
up €61,379 (+193%), from €31,748 to €93,127
- Tax, wage and social debts +€3,741
up €3,741 (+30.7%), from €12,181 to €15,922
- Trade debts +€1,699
up €1,699 (+575%), from €295 to €1,994
- Gross operating margin +€36,472
up €36,472 (+87.3%), from €41,776 to €78,248
- Taxes +€7,341
up €7,341 (+85.5%), from €8,581 to €15,922
- Depreciation -€814
down €814 (-77.3%), from €1,053 to €239
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,299 | €114,825 | +€67,526 | +143% |
| Fixed assets | 21/28 | - | €7,638 | +€7,638 | |
| Tangible fixed assets | 22/27 | - | €7,638 | +€7,638 | |
| Land and buildings | 22 | - | €7,247 | +€7,247 | |
| Furniture and vehicles | 24 | - | €391 | +€391 | |
| Current assets | 29/58 | €47,299 | €107,187 | +€59,888 | +127% |
| Cash at bank and in hand | 54/58 | €31,788 | €67,760 | +€35,972 | +113% |
| Deferred charges and accrued income | 490/1 | €15,512 | €39,427 | +€23,915 | +154% |
| Total equity and liabilities | 10/49 | €47,299 | €114,825 | +€67,526 | +143% |
| Equity | 10/15 | €34,748 | €96,127 | +€61,379 | +177% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €31,748 | €93,127 | +€61,379 | +193% |
| Distributable reserves | 133 | €31,748 | €93,127 | +€61,379 | +193% |
| Amounts payable | 17/49 | €12,552 | €18,698 | +€6,146 | +49.0% |
| Amounts payable within one year | 42/48 | €12,552 | €18,698 | +€6,146 | +49.0% |
| Trade debts | 44 | €295 | €1,994 | +€1,699 | +575% |
| Suppliers | 440/4 | €295 | €1,994 | +€1,699 | +575% |
| Taxes, remuneration and social security | 45 | €12,181 | €15,922 | +€3,741 | +30.7% |
| Taxes | 450/3 | €12,181 | €15,922 | +€3,741 | +30.7% |
| Other amounts payable | 47/48 | €75 | €782 | +€707 | +941% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,053 | €239 | -€814 | -77.3% |
| Other operating charges | 640/8 | €323 | €549 | +€227 | +70.3% |
| Gross operating margin | 9900 | €41,776 | €78,248 | +€36,472 | +87.3% |
| Operating profit (loss) | 9901 | €40,401 | €77,460 | +€37,060 | +91.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €72 | €159 | +€87 | +121% |
| Recurring financial charges | 65 | €72 | €159 | +€87 | +121% |
| Profit (loss) for the period before taxes | 9903 | €40,329 | €77,301 | +€36,972 | +91.7% |
| Income taxes | 67/77 | €8,581 | €15,922 | +€7,341 | +85.5% |
| Profit (loss) for the period | 9904 | €31,748 | €61,379 | +€29,632 | +93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,748 | €61,379 | +€29,632 | +93.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.