DR.KATRIEN TRAEST: 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 TRAEST
Largest movements
- Current investments +€56,472
up €56,472 (+7.3%), from €775,033 to €831,505
- Deferred charges and accrued income +€27,288
up €27,288 (+60.5%), from €45,074 to €72,362
- Cash -€12,936
down €12,936 (-9.4%), from €138,276 to €125,340
mainly Current investments (-€56,472) and Contributions, distributions and other (-€52,632)
- Reserves +€62,250
up €62,250 (+6.7%), from €931,058 to €993,308
- Gross operating margin +€17,157
up €17,157 (+12.3%), from €140,054 to €157,211
- Taxes +€7,897
up €7,897 (+19.0%), from €41,496 to €49,394
- Financial income +€6,712
up €6,712 (+137%), from €4,893 to €11,605
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 | €970,893 | €1,045,913 | +€75,020 | +7.7% |
| Fixed assets | 21/28 | €9,548 | €7,974 | -€1,574 | -16.5% |
| Tangible fixed assets | 22/27 | €9,548 | €7,974 | -€1,574 | -16.5% |
| Land and buildings | 22 | €7,840 | €6,432 | -€1,408 | -18.0% |
| Furniture and vehicles | 24 | €1,708 | €1,542 | -€166 | -9.7% |
| Current assets | 29/58 | €961,345 | €1,037,939 | +€76,594 | +8.0% |
| Amounts receivable within one year | 40/41 | €2,962 | €8,731 | +€5,770 | +195% |
| Other amounts receivable | 41 | €2,962 | €8,731 | +€5,770 | +195% |
| Current investments | 50/53 | €775,033 | €831,505 | +€56,472 | +7.3% |
| Cash at bank and in hand | 54/58 | €138,276 | €125,340 | -€12,936 | -9.4% |
| Deferred charges and accrued income | 490/1 | €45,074 | €72,362 | +€27,288 | +60.5% |
| Total equity and liabilities | 10/49 | €970,893 | €1,045,913 | +€75,020 | +7.7% |
| Equity | 10/15 | €949,608 | €1,011,858 | +€62,250 | +6.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €931,058 | €993,308 | +€62,250 | +6.7% |
| Distributable reserves | 133 | €931,058 | €993,308 | +€62,250 | +6.7% |
| Amounts payable | 17/49 | €21,285 | €34,055 | +€12,770 | +60.0% |
| Amounts payable within one year | 42/48 | €20,857 | €33,613 | +€12,756 | +61.2% |
| Trade debts | 44 | €4,361 | €8,720 | +€4,359 | +99.9% |
| Suppliers | 440/4 | €4,361 | €8,720 | +€4,359 | +99.9% |
| Taxes, remuneration and social security | 45 | €16,496 | €24,894 | +€8,397 | +50.9% |
| Taxes | 450/3 | €16,496 | €24,894 | +€8,397 | +50.9% |
| Accrued charges and deferred income | 492/3 | €428 | €442 | +€14 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,801 | €1,574 | -€227 | -12.6% |
| Other operating charges | 640/8 | €1,818 | €1,869 | +€50 | +2.8% |
| Gross operating margin | 9900 | €140,054 | €157,211 | +€17,157 | +12.3% |
| Operating profit (loss) | 9901 | €136,435 | €153,768 | +€17,333 | +12.7% |
| Financial income | 75/76B | €4,893 | €11,605 | +€6,712 | +137% |
| Recurring financial income | 75 | €4,893 | €11,605 | +€6,712 | +137% |
| Financial charges | 65/66B | €751 | €1,098 | +€346 | +46.1% |
| Recurring financial charges | 65 | €751 | €1,098 | +€346 | +46.1% |
| Profit (loss) for the period before taxes | 9903 | €140,576 | €164,275 | +€23,699 | +16.9% |
| Income taxes | 67/77 | €41,496 | €49,394 | +€7,897 | +19.0% |
| Profit (loss) for the period | 9904 | €99,080 | €114,882 | +€15,802 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €99,080 | €114,882 | +€15,802 | +15.9% |
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 23 October 2026 via checked.be.