Dr. Katrien Erven: 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. Katrien Erven
Largest movements
- Tangible fixed assets -€17,956
down €17,956 (-26.8%), from €67,066 to €49,110
of which Furniture and vehicles: -€19,035
- Cash +€8,561
up €8,561 (+4.0%), from €212,696 to €221,256
mainly Net result for the year (+€98,701) and Depreciation (+€19,255)
- Reserves +€25,862
up €25,862 (+4.2%), from €622,483 to €648,345
- Tax, wage and social debts -€23,549
down €23,549 (-83.5%), from €28,218 to €4,669
- Trade debts -€15,572
down €15,572 (-62.5%), from €24,931 to €9,359
- Financial income +€13,035
up €13,035 (+298%), from €4,371 to €17,406
- Gross operating margin -€12,540
down €12,540 (-8.0%), from €155,890 to €143,351
- Other operating charges +€1,673
up €1,673 (+160%), from €1,046 to €2,720
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 | €694,974 | €684,302 | -€10,672 | -1.5% |
| Fixed assets | 21/28 | €67,066 | €49,110 | -€17,956 | -26.8% |
| Tangible fixed assets | 22/27 | €67,066 | €49,110 | -€17,956 | -26.8% |
| Plant, machinery and equipment | 23 | €0 | €1,079 | +€1,079 | |
| Furniture and vehicles | 24 | €67,066 | €48,031 | -€19,035 | -28.4% |
| Current assets | 29/58 | €627,908 | €635,192 | +€7,284 | +1.2% |
| Amounts receivable within one year | 40/41 | €986 | €0 | -€986 | -100% |
| Trade receivables | 40 | €504 | €0 | -€504 | -100% |
| Other amounts receivable | 41 | €482 | €0 | -€482 | -100% |
| Current investments | 50/53 | €287,606 | €287,606 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €212,696 | €221,256 | +€8,561 | +4.0% |
| Deferred charges and accrued income | 490/1 | €126,620 | €126,330 | -€290 | -0.2% |
| Total equity and liabilities | 10/49 | €694,974 | €684,302 | -€10,672 | -1.5% |
| Equity | 10/15 | €641,083 | €666,945 | +€25,862 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €622,483 | €648,345 | +€25,862 | +4.2% |
| Distributable reserves | 133 | €622,483 | €648,345 | +€25,862 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,891 | €17,357 | -€36,534 | -67.8% |
| Amounts payable within one year | 42/48 | €53,149 | €16,997 | -€36,152 | -68.0% |
| Trade debts | 44 | €24,931 | €9,359 | -€15,572 | -62.5% |
| Suppliers | 440/4 | €24,931 | €9,359 | -€15,572 | -62.5% |
| Taxes, remuneration and social security | 45 | €28,218 | €4,669 | -€23,549 | -83.5% |
| Taxes | 450/3 | €28,218 | €4,669 | -€23,549 | -83.5% |
| Other amounts payable | 47/48 | - | €2,969 | +€2,969 | |
| Accrued charges and deferred income | 492/3 | €741 | €360 | -€381 | -51.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,469 | €19,255 | -€214 | -1.1% |
| Other operating charges | 640/8 | €1,046 | €2,720 | +€1,673 | +160% |
| Non-recurring operating charges | 66A | €4,470 | €0 | -€4,470 | -100% |
| Gross operating margin | 9900 | €155,890 | €143,351 | -€12,540 | -8.0% |
| Operating profit (loss) | 9901 | €130,905 | €121,376 | -€9,529 | -7.3% |
| Financial income | 75/76B | €4,371 | €17,406 | +€13,035 | +298% |
| Recurring financial income | 75 | €4,371 | €17,406 | +€13,035 | +298% |
| Financial charges | 65/66B | €154 | €191 | +€36 | +23.6% |
| Recurring financial charges | 65 | €154 | €191 | +€36 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €135,122 | €138,592 | +€3,470 | +2.6% |
| Income taxes | 67/77 | €40,495 | €39,891 | -€604 | -1.5% |
| Profit (loss) for the period | 9904 | €94,627 | €98,701 | +€4,074 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €94,627 | €98,701 | +€4,074 | +4.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.