DR. KARIN SCHOTTE: what changed
DR. KARIN SCHOTTE
Largest movements
- Cash -€214,157
down €214,157 (-70.4%), from €304,177 to €90,020
mainly Current investments (-€200,000) and Contributions, distributions and other (-€101,546)
- Current investments +€200,000
up €200,000 (+178%), from €112,516 to €312,516
- Receivables within one year -€31,976
down €31,976 (-67.6%), from €47,297 to €15,321
of which Other amounts receivable: -€36,374
- Tangible fixed assets +€17,637
up €17,637 (+150%), from €11,765 to €29,403
of which Furniture and vehicles: +€16,642
- Accrued charges and deferred income -€24,592
down €24,592 (-92.2%), from €26,673 to €2,081
- Short-term financial debts -€17,655
no longer reported in 2025 (was €17,655)
- Tax, wage and social debts +€8,421
up €8,421 (+458%), from €1,838 to €10,259
- Gross operating margin -€39,948
down €39,948 (-22.7%), from €176,306 to €136,358
- Taxes -€15,121
down €15,121 (-27.3%), from €55,485 to €40,364
- Depreciation +€2,043
up €2,043 (+91.7%), from €2,227 to €4,271
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 | €593,051 | €563,667 | -€29,384 | -5.0% |
| Fixed assets | 21/28 | €11,765 | €29,403 | +€17,637 | +150% |
| Tangible fixed assets | 22/27 | €11,765 | €29,403 | +€17,637 | +150% |
| Land and buildings | 22 | €1,886 | €373 | -€1,513 | -80.2% |
| Plant, machinery and equipment | 23 | €1,007 | €3,515 | +€2,508 | +249% |
| Furniture and vehicles | 24 | €3,657 | €20,299 | +€16,642 | +455% |
| Other tangible fixed assets | 26 | €5,215 | €5,215 | = | 0.0% |
| Current assets | 29/58 | €581,286 | €534,264 | -€47,021 | -8.1% |
| Amounts receivable after more than one year | 29 | €110,000 | €110,000 | = | 0.0% |
| Other amounts receivable | 291 | €110,000 | €110,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €47,297 | €15,321 | -€31,976 | -67.6% |
| Trade receivables | 40 | €4,280 | €8,678 | +€4,398 | +103% |
| Other amounts receivable | 41 | €43,017 | €6,643 | -€36,374 | -84.6% |
| Current investments | 50/53 | €112,516 | €312,516 | +€200,000 | +178% |
| Cash at bank and in hand | 54/58 | €304,177 | €90,020 | -€214,157 | -70.4% |
| Deferred charges and accrued income | 490/1 | €7,296 | €6,408 | -€888 | -12.2% |
| Total equity and liabilities | 10/49 | €593,051 | €563,667 | -€29,384 | -5.0% |
| Equity | 10/15 | €543,153 | €543,072 | -€81 | 0.0% |
| Contributions | 10/11 | €8,064 | €8,064 | = | 0.0% |
| Reserves | 13 | €535,089 | €535,007 | -€81 | 0.0% |
| Tax-exempt reserves | 132 | €29,351 | €29,351 | = | 0.0% |
| Distributable reserves | 133 | €505,738 | €505,656 | -€81 | 0.0% |
| Amounts payable | 17/49 | €49,898 | €20,595 | -€29,302 | -58.7% |
| Amounts payable within one year | 42/48 | €23,224 | €18,514 | -€4,710 | -20.3% |
| Financial debts | 43 | €17,655 | - | -€17,655 | |
| Other loans | 439 | €17,655 | - | -€17,655 | |
| Trade debts | 44 | €3,264 | €7,787 | +€4,523 | +139% |
| Suppliers | 440/4 | €3,264 | €7,787 | +€4,523 | +139% |
| Taxes, remuneration and social security | 45 | €1,838 | €10,259 | +€8,421 | +458% |
| Taxes | 450/3 | €1,838 | €10,259 | +€8,421 | +458% |
| Other amounts payable | 47/48 | €467 | €467 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €26,673 | €2,081 | -€24,592 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,227 | €4,271 | +€2,043 | +91.7% |
| Other operating charges | 640/8 | €126 | - | -€126 | |
| Gross operating margin | 9900 | €176,306 | €136,358 | -€39,948 | -22.7% |
| Operating profit (loss) | 9901 | €173,953 | €132,087 | -€41,865 | -24.1% |
| Financial income | 75/76B | €12,718 | €11,049 | -€1,668 | -13.1% |
| Recurring financial income | 75 | €12,718 | €11,049 | -€1,668 | -13.1% |
| Financial charges | 65/66B | €1,611 | €1,307 | -€304 | -18.9% |
| Recurring financial charges | 65 | €1,611 | €1,307 | -€304 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €185,059 | €141,829 | -€43,230 | -23.4% |
| Income taxes | 67/77 | €55,485 | €40,364 | -€15,121 | -27.3% |
| Profit (loss) for the period | 9904 | €129,574 | €101,465 | -€28,109 | -21.7% |
| Profit (loss) for the period to be appropriated | 9905 | €129,574 | €101,465 | -€28,109 | -21.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.