DR. KRIS VANDECASTEELE: 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 VANDECASTEELE
Largest movements
- Cash -€37,883
down €37,883 (-22.0%), from €172,220 to €134,336
mainly Contributions, distributions and other (-€182,401) and Investment in fixed assets (net) (-€20,955)
- Reserves -€44,474
down €44,474 (-8.6%), from €519,713 to €475,239
- Tax, wage and social debts +€10,759
up €10,759 (+79.6%), from €13,509 to €24,268
- Gross operating margin +€34,844
up €34,844 (+19.7%), from €176,670 to €211,514
- Taxes +€10,139
up €10,139 (+20.9%), from €48,504 to €58,643
- Other operating charges -€5,510
down €5,510 (-89.4%), from €6,162 to €652
- Depreciation +€3,729
up €3,729 (+27.5%), from €13,566 to €17,295
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 | €541,542 | €507,954 | -€33,588 | -6.2% |
| Fixed assets | 21/28 | €60,699 | €64,359 | +€3,660 | +6.0% |
| Tangible fixed assets | 22/27 | €60,687 | €64,347 | +€3,660 | +6.0% |
| Land and buildings | 22 | €10,144 | €14,712 | +€4,567 | +45.0% |
| Plant, machinery and equipment | 23 | €3,097 | €12,244 | +€9,147 | +295% |
| Furniture and vehicles | 24 | €47,445 | €37,391 | -€10,054 | -21.2% |
| Financial fixed assets | 28 | €13 | €13 | = | 0.0% |
| Current assets | 29/58 | €480,843 | €443,595 | -€37,248 | -7.7% |
| Amounts receivable within one year | 40/41 | €5,355 | €5,972 | +€617 | +11.5% |
| Trade receivables | 40 | - | €360 | +€360 | |
| Other amounts receivable | 41 | €5,355 | €5,612 | +€257 | +4.8% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €172,220 | €134,336 | -€37,883 | -22.0% |
| Deferred charges and accrued income | 490/1 | €3,268 | €3,286 | +€18 | +0.6% |
| Total equity and liabilities | 10/49 | €541,542 | €507,954 | -€33,588 | -6.2% |
| Equity | 10/15 | €524,713 | €480,239 | -€44,474 | -8.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €519,713 | €475,239 | -€44,474 | -8.6% |
| Distributable reserves | 133 | €519,713 | €475,239 | -€44,474 | -8.6% |
| Amounts payable | 17/49 | €16,829 | €27,714 | +€10,886 | +64.7% |
| Amounts payable within one year | 42/48 | €15,316 | €26,050 | +€10,734 | +70.1% |
| Trade debts | 44 | €1,239 | €509 | -€729 | -58.9% |
| Suppliers | 440/4 | €1,239 | €509 | -€729 | -58.9% |
| Taxes, remuneration and social security | 45 | €13,509 | €24,268 | +€10,759 | +79.6% |
| Taxes | 450/3 | €13,509 | €24,268 | +€10,759 | +79.6% |
| Other amounts payable | 47/48 | €569 | €1,273 | +€704 | +124% |
| Accrued charges and deferred income | 492/3 | €1,513 | €1,664 | +€151 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,566 | €17,295 | +€3,729 | +27.5% |
| Other operating charges | 640/8 | €6,162 | €652 | -€5,510 | -89.4% |
| Gross operating margin | 9900 | €176,670 | €211,514 | +€34,844 | +19.7% |
| Operating profit (loss) | 9901 | €156,942 | €193,568 | +€36,625 | +23.3% |
| Financial income | 75/76B | €5,305 | €3,212 | -€2,094 | -39.5% |
| Recurring financial income | 75 | €5,305 | €3,212 | -€2,094 | -39.5% |
| Financial charges | 65/66B | €202 | €209 | +€7 | +3.5% |
| Recurring financial charges | 65 | €202 | €209 | +€7 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €162,046 | €196,571 | +€34,525 | +21.3% |
| Income taxes | 67/77 | €48,504 | €58,643 | +€10,139 | +20.9% |
| Profit (loss) for the period | 9904 | €113,542 | €137,928 | +€24,386 | +21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €113,542 | €137,928 | +€24,386 | +21.5% |
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 24 October 2026 via checked.be.