DR. KRIS VAN HAVER: 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 VAN HAVER
Largest movements
- Current investments +€563,375
new in 2025: €563,375
- Cash -€464,067
down €464,067 (-75.6%), from €613,623 to €149,556
mainly Current investments (-€563,375) and Contributions, distributions and other (-€113,190)
- Deferred charges and accrued income -€32,799
down €32,799 (-51.8%), from €63,291 to €30,493
- Receivables within one year -€23,409
down €23,409 (-50.0%), from €46,779 to €23,370
- Other debts +€94,990
up €94,990 (+134%), from €70,816 to €165,806
- Reserves -€52,296
down €52,296 (-7.7%), from €679,877 to €627,582
of which Distributable reserves: -€52,296
- Trade debts -€10,476
down €10,476 (-89.8%), from €11,667 to €1,191
- Gross operating margin -€80,293
down €80,293 (-45.6%), from €175,963 to €95,670
- Taxes -€19,546
down €19,546 (-40.6%), from €48,121 to €28,575
- Financial income +€12,320
up €12,320 (+41,067,867%), from €0 to €12,320
- Financial charges +€4,807
up €4,807 (+115%), from €4,166 to €8,973
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 | €786,645 | €822,090 | +€35,445 | +4.5% |
| Fixed assets | 21/28 | €62,952 | €55,297 | -€7,656 | -12.2% |
| Tangible fixed assets | 22/27 | €62,952 | €55,297 | -€7,656 | -12.2% |
| Land and buildings | 22 | €25,498 | €17,904 | -€7,594 | -29.8% |
| Plant, machinery and equipment | 23 | - | €393 | +€393 | |
| Furniture and vehicles | 24 | €454 | - | -€454 | |
| Other tangible fixed assets | 26 | €37,000 | €37,000 | = | 0.0% |
| Current assets | 29/58 | €723,693 | €766,794 | +€43,101 | +6.0% |
| Amounts receivable within one year | 40/41 | €46,779 | €23,370 | -€23,409 | -50.0% |
| Other amounts receivable | 41 | €46,779 | €23,370 | -€23,409 | -50.0% |
| Current investments | 50/53 | - | €563,375 | +€563,375 | |
| Cash at bank and in hand | 54/58 | €613,623 | €149,556 | -€464,067 | -75.6% |
| Deferred charges and accrued income | 490/1 | €63,291 | €30,493 | -€32,799 | -51.8% |
| Total equity and liabilities | 10/49 | €786,645 | €822,090 | +€35,445 | +4.5% |
| Equity | 10/15 | €698,477 | €646,182 | -€52,296 | -7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €679,877 | €627,582 | -€52,296 | -7.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €678,017 | €625,722 | -€52,296 | -7.7% |
| Amounts payable | 17/49 | €88,168 | €175,909 | +€87,741 | +99.5% |
| Amounts payable within one year | 42/48 | €85,297 | €169,671 | +€84,374 | +98.9% |
| Trade debts | 44 | €11,667 | €1,191 | -€10,476 | -89.8% |
| Suppliers | 440/4 | €11,667 | €1,191 | -€10,476 | -89.8% |
| Taxes, remuneration and social security | 45 | €2,814 | €2,674 | -€140 | -5.0% |
| Taxes | 450/3 | €2,814 | €2,674 | -€140 | -5.0% |
| Other amounts payable | 47/48 | €70,816 | €165,806 | +€94,990 | +134% |
| Accrued charges and deferred income | 492/3 | €2,871 | €6,238 | +€3,367 | +117% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,202 | €8,105 | -€97 | -1.2% |
| Other operating charges | 640/8 | €1,303 | €1,443 | +€140 | +10.8% |
| Gross operating margin | 9900 | €175,963 | €95,670 | -€80,293 | -45.6% |
| Operating profit (loss) | 9901 | €166,458 | €86,122 | -€80,336 | -48.3% |
| Financial income | 75/76B | €0 | €12,320 | +€12,320 | +41,067,867% |
| Recurring financial income | 75 | €0 | €12,320 | +€12,320 | +41,067,867% |
| Financial charges | 65/66B | €4,166 | €8,973 | +€4,807 | +115% |
| Recurring financial charges | 65 | €4,166 | €8,973 | +€4,807 | +115% |
| Profit (loss) for the period before taxes | 9903 | €162,292 | €89,470 | -€72,822 | -44.9% |
| Income taxes | 67/77 | €48,121 | €28,575 | -€19,546 | -40.6% |
| Profit (loss) for the period | 9904 | €114,171 | €60,894 | -€53,276 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €114,171 | €60,894 | -€53,276 | -46.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.