Dr. Katleen Fabry: 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. Katleen Fabry
Largest movements
- Cash +€31,194
up €31,194 (+58.3%), from €53,543 to €84,737
mainly Net result for the year (+€38,371) and Other debts (+€32,670)
- Receivables within one year -€8,488
down €8,488 (-92.9%), from €9,139 to €651
of which Other amounts receivable: -€7,364
- Tangible fixed assets -€2,415
down €2,415 (-46.4%), from €5,209 to €2,794
- Deferred charges and accrued income +€1,154
up €1,154 (+174%), from €663 to €1,817
- Other debts +€32,670
up €32,670 (+482%), from €6,774 to €39,445
- Reserves -€11,243
down €11,243 (-22.6%), from €49,643 to €38,400
- Gross operating margin +€3,391
up €3,391 (+7.0%), from €48,374 to €51,765
- Taxes +€814
up €814 (+8.7%), from €9,335 to €10,149
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 | €68,554 | €89,999 | +€21,445 | +31.3% |
| Fixed assets | 21/28 | €5,209 | €2,794 | -€2,415 | -46.4% |
| Tangible fixed assets | 22/27 | €5,209 | €2,794 | -€2,415 | -46.4% |
| Furniture and vehicles | 24 | €5,209 | €2,794 | -€2,415 | -46.4% |
| Current assets | 29/58 | €63,345 | €87,205 | +€23,860 | +37.7% |
| Amounts receivable within one year | 40/41 | €9,139 | €651 | -€8,488 | -92.9% |
| Trade receivables | 40 | €1,124 | €0 | -€1,124 | -100% |
| Other amounts receivable | 41 | €8,015 | €651 | -€7,364 | -91.9% |
| Cash at bank and in hand | 54/58 | €53,543 | €84,737 | +€31,194 | +58.3% |
| Deferred charges and accrued income | 490/1 | €663 | €1,817 | +€1,154 | +174% |
| Total equity and liabilities | 10/49 | €68,554 | €89,999 | +€21,445 | +31.3% |
| Equity | 10/15 | €54,718 | €43,489 | -€11,229 | -20.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €49,643 | €38,400 | -€11,243 | -22.6% |
| Distributable reserves | 133 | €49,643 | €38,400 | -€11,243 | -22.6% |
| Profit (loss) carried forward | 14 | €76 | €89 | +€13 | +17.7% |
| Amounts payable | 17/49 | €13,836 | €46,510 | +€32,674 | +236% |
| Amounts payable within one year | 42/48 | €13,449 | €46,510 | +€33,061 | +246% |
| Financial debts | 43 | €3,314 | €3,298 | -€16 | -0.5% |
| Credit institutions | 430/8 | €3,314 | €3,298 | -€16 | -0.5% |
| Trade debts | 44 | - | €303 | +€303 | |
| Suppliers | 440/4 | - | €303 | +€303 | |
| Taxes, remuneration and social security | 45 | €3,361 | €3,465 | +€104 | +3.1% |
| Taxes | 450/3 | - | €150 | +€150 | |
| Remuneration and social security | 454/9 | €3,361 | €3,315 | -€46 | -1.4% |
| Other amounts payable | 47/48 | €6,774 | €39,445 | +€32,670 | +482% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,415 | €2,415 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €48,374 | €51,765 | +€3,391 | +7.0% |
| Operating profit (loss) | 9901 | €45,571 | €48,950 | +€3,379 | +7.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €505 | €430 | -€75 | -14.9% |
| Recurring financial charges | 65 | €505 | €430 | -€75 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €45,066 | €48,520 | +€3,454 | +7.7% |
| Income taxes | 67/77 | €9,335 | €10,149 | +€814 | +8.7% |
| Profit (loss) for the period | 9904 | €35,730 | €38,371 | +€2,640 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,730 | €38,371 | +€2,640 | +7.4% |
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 18 October 2026 via checked.be.