Dr. Kris Bleys: 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. Kris Bleys
Largest movements
- Receivables after one year +€104,662
up €104,662 (+39.7%), from €263,695 to €368,357
- Deferred charges and accrued income -€36,487
down €36,487 (-52.3%), from €69,758 to €33,271
- Cash -€12,839
down €12,839 (-64.8%), from €19,829 to €6,990
mainly Receivables after one year (-€104,662) and Investment in fixed assets (net) (-€27,886)
- Receivables within one year -€11,847
down €11,847 (-19.2%), from €61,639 to €49,792
of which Other amounts receivable: -€17,719
- Tangible fixed assets +€11,724
up €11,724 (+31.9%), from €36,762 to €48,485
of which Furniture and vehicles: +€13,323
- Reserves +€77,034
up €77,034 (+20.9%), from €368,639 to €445,673
- Debts after one year -€12,319
down €12,319 (-37.1%), from €33,168 to €20,848
- Current portion of long-term debt -€5,648
down €5,648 (-31.4%), from €17,967 to €12,319
- Gross operating margin +€10,047
up €10,047 (+7.4%), from €135,721 to €145,769
- Taxes +€2,909
up €2,909 (+10.6%), from €27,540 to €30,449
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 | €451,681 | €506,894 | +€55,213 | +12.2% |
| Fixed assets | 21/28 | €36,762 | €48,485 | +€11,724 | +31.9% |
| Tangible fixed assets | 22/27 | €36,762 | €48,485 | +€11,724 | +31.9% |
| Plant, machinery and equipment | 23 | €7,318 | €5,718 | -€1,600 | -21.9% |
| Furniture and vehicles | 24 | €23,444 | €36,768 | +€13,323 | +56.8% |
| Other tangible fixed assets | 26 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €414,920 | €458,409 | +€43,489 | +10.5% |
| Amounts receivable after more than one year | 29 | €263,695 | €368,357 | +€104,662 | +39.7% |
| Other amounts receivable | 291 | €263,695 | €368,357 | +€104,662 | +39.7% |
| Amounts receivable within one year | 40/41 | €61,639 | €49,792 | -€11,847 | -19.2% |
| Trade receivables | 40 | €12,828 | €18,700 | +€5,872 | +45.8% |
| Other amounts receivable | 41 | €48,811 | €31,092 | -€17,719 | -36.3% |
| Cash at bank and in hand | 54/58 | €19,829 | €6,990 | -€12,839 | -64.8% |
| Deferred charges and accrued income | 490/1 | €69,758 | €33,271 | -€36,487 | -52.3% |
| Total equity and liabilities | 10/49 | €451,681 | €506,894 | +€55,213 | +12.2% |
| Equity | 10/15 | €368,639 | €445,673 | +€77,034 | +20.9% |
| Reserves | 13 | €368,639 | €445,673 | +€77,034 | +20.9% |
| Distributable reserves | 133 | €368,639 | €445,673 | +€77,034 | +20.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €83,042 | €61,221 | -€21,821 | -26.3% |
| Amounts payable after more than one year | 17 | €33,168 | €20,848 | -€12,319 | -37.1% |
| Financial debts | 170/4 | €33,168 | €20,848 | -€12,319 | -37.1% |
| Amounts payable within one year | 42/48 | €49,527 | €40,372 | -€9,155 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €17,967 | €12,319 | -€5,648 | -31.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €7,939 | €4,383 | -€3,556 | -44.8% |
| Suppliers | 440/4 | €7,939 | €4,383 | -€3,556 | -44.8% |
| Taxes, remuneration and social security | 45 | €22,259 | €22,820 | +€561 | +2.5% |
| Taxes | 450/3 | €20,040 | €14,199 | -€5,841 | -29.1% |
| Remuneration and social security | 454/9 | €2,219 | €8,621 | +€6,402 | +289% |
| Other amounts payable | 47/48 | €1,362 | €850 | -€512 | -37.6% |
| Accrued charges and deferred income | 492/3 | €348 | €0 | -€348 | -100% |
| Non-recurring operating income | 76A | €19,000 | €0 | -€19,000 | -100% |
| Remuneration, social security and pensions | 62 | €23,990 | €23,181 | -€808 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,702 | €16,162 | +€460 | +2.9% |
| Other operating charges | 640/8 | €1,604 | €1,469 | -€136 | -8.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €135,721 | €145,769 | +€10,047 | +7.4% |
| Operating profit (loss) | 9901 | €94,426 | €104,957 | +€10,531 | +11.2% |
| Financial income | 75/76B | €4,325 | €4,778 | +€452 | +10.5% |
| Recurring financial income | 75 | €4,325 | €4,778 | +€452 | +10.5% |
| Financial charges | 65/66B | €2,840 | €1,401 | -€1,439 | -50.7% |
| Recurring financial charges | 65 | €2,840 | €1,401 | -€1,439 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €95,911 | €108,333 | +€12,422 | +13.0% |
| Income taxes | 67/77 | €27,540 | €30,449 | +€2,909 | +10.6% |
| Profit (loss) for the period | 9904 | €68,372 | €77,884 | +€9,513 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €68,372 | €77,884 | +€9,513 | +13.9% |
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 20 October 2026 via checked.be.