DR. K. VANRYKEL: 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. K. VANRYKEL
Largest movements
- Receivables within one year +€35,724
up €35,724 (+31.9%), from €111,942 to €147,666
of which Other amounts receivable: +€36,406
- Cash +€13,175
up €13,175 (+22.4%), from €58,868 to €72,043
mainly Net result for the year (+€62,950) and Depreciation (+€39,161)
- Reserves +€62,950
up €62,950 (+18.1%), from €347,203 to €410,153
of which Distributable reserves: +€62,950
- Debts after one year -€22,970
down €22,970 (-100%), from €22,970 to €0
- Tax, wage and social debts +€17,763
up €17,763 (+156%), from €11,365 to €29,128
of which Taxes: +€21,678
- Trade debts -€8,158
down €8,158 (-94.1%), from €8,667 to €509
- Gross operating margin +€39,130
up €39,130 (+39.2%), from €99,788 to €138,918
- Depreciation -€22,895
down €22,895 (-36.9%), from €62,057 to €39,161
- Taxes +€15,796
up €15,796 (+181%), from €8,723 to €24,519
- Other operating charges -€2,762
down €2,762 (-79.2%), from €3,487 to €725
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 | €657,313 | €703,192 | +€45,879 | +7.0% |
| Fixed assets | 21/28 | €484,366 | €481,714 | -€2,653 | -0.5% |
| Tangible fixed assets | 22/27 | €484,366 | €481,714 | -€2,653 | -0.5% |
| Land and buildings | 22 | €468,255 | €449,572 | -€18,683 | -4.0% |
| Plant, machinery and equipment | 23 | €13,323 | €28,630 | +€15,307 | +115% |
| Furniture and vehicles | 24 | €2,788 | €3,512 | +€724 | +26.0% |
| Current assets | 29/58 | €172,947 | €221,478 | +€48,531 | +28.1% |
| Amounts receivable within one year | 40/41 | €111,942 | €147,666 | +€35,724 | +31.9% |
| Trade receivables | 40 | €2,642 | €1,960 | -€682 | -25.8% |
| Other amounts receivable | 41 | €109,300 | €145,706 | +€36,406 | +33.3% |
| Cash at bank and in hand | 54/58 | €58,868 | €72,043 | +€13,175 | +22.4% |
| Deferred charges and accrued income | 490/1 | €2,137 | €1,769 | -€368 | -17.2% |
| Total equity and liabilities | 10/49 | €657,313 | €703,192 | +€45,879 | +7.0% |
| Equity | 10/15 | €367,611 | €430,561 | +€62,950 | +17.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €347,203 | €410,153 | +€62,950 | +18.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,195 | €4,195 | = | 0.0% |
| Distributable reserves | 133 | €341,147 | €404,098 | +€62,950 | +18.5% |
| Profit (loss) carried forward | 14 | €8,008 | €8,008 | = | 0.0% |
| Provisions and deferred taxes | 16 | €216,953 | €216,367 | -€586 | -0.3% |
| Provisions for liabilities and charges | 160/5 | €216,953 | €216,367 | -€586 | -0.3% |
| Environmental obligations | 163 | €216,953 | €216,367 | -€586 | -0.3% |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €72,749 | €56,263 | -€16,486 | -22.7% |
| Amounts payable after more than one year | 17 | €22,970 | €0 | -€22,970 | -100% |
| Financial debts | 170/4 | €22,970 | €0 | -€22,970 | -100% |
| Amounts payable within one year | 42/48 | €49,779 | €56,263 | +€6,484 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €29,747 | €22,970 | -€6,778 | -22.8% |
| Trade debts | 44 | €8,667 | €509 | -€8,158 | -94.1% |
| Suppliers | 440/4 | €8,667 | €509 | -€8,158 | -94.1% |
| Taxes, remuneration and social security | 45 | €11,365 | €29,128 | +€17,763 | +156% |
| Taxes | 450/3 | €7,450 | €29,128 | +€21,678 | +291% |
| Remuneration and social security | 454/9 | €3,914 | €0 | -€3,914 | -100% |
| Other amounts payable | 47/48 | - | €3,656 | +€3,656 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,057 | €39,161 | -€22,895 | -36.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€586 | -€586 | = | 0.0% |
| Other operating charges | 640/8 | €3,487 | €725 | -€2,762 | -79.2% |
| Gross operating margin | 9900 | €99,788 | €138,918 | +€39,130 | +39.2% |
| Operating profit (loss) | 9901 | €34,830 | €99,617 | +€64,787 | +186% |
| Financial income | 75/76B | €0 | €3 | +€3 | |
| Recurring financial income | 75 | €0 | €3 | +€3 | |
| Financial charges | 65/66B | €11,409 | €12,150 | +€741 | +6.5% |
| Recurring financial charges | 65 | €11,409 | €12,150 | +€741 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €23,422 | €87,469 | +€64,048 | +273% |
| Income taxes | 67/77 | €8,723 | €24,519 | +€15,796 | +181% |
| Profit (loss) for the period | 9904 | €14,698 | €62,950 | +€48,252 | +328% |
| Profit (loss) for the period to be appropriated | 9905 | €14,698 | €62,950 | +€48,252 | +328% |
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 14 October 2026 via checked.be.