DR. L. VANNESTE: 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. L. VANNESTE
Largest movements
- Deferred charges and accrued income +€85,167
up €85,167 (+185%), from €46,114 to €131,282
- Cash -€28,982
down €28,982 (-32.0%), from €90,445 to €61,463
mainly Contributions, distributions and other (-€151,805) and Deferred charges and accrued income (-€85,167)
- Current investments -€16,179
down €16,179 (-2.2%), from €740,083 to €723,904
- Tangible fixed assets -€15,328
down €15,328 (-27.7%), from €55,283 to €39,955
of which Furniture and vehicles: -€10,331
- Tax, wage and social debts +€24,119
up €24,119 (+343%), from €7,022 to €31,141
- Reserves +€20,342
up €20,342 (+2.9%), from €703,714 to €724,057
of which Distributable reserves: +€20,342
- Accrued charges and deferred income -€18,362
down €18,362 (-84.6%), from €21,692 to €3,331
- Gross operating margin +€43,612
up €43,612 (+20.0%), from €218,346 to €261,958
- Taxes +€20,143
up €20,143 (+32.8%), from €61,490 to €81,633
- Financial income +€6,655
up €6,655 (+209%), from €3,191 to €9,846
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 | €934,671 | €964,248 | +€29,577 | +3.2% |
| Fixed assets | 21/28 | €55,283 | €39,955 | -€15,328 | -27.7% |
| Tangible fixed assets | 22/27 | €55,283 | €39,955 | -€15,328 | -27.7% |
| Land and buildings | 22 | €18,259 | €13,839 | -€4,421 | -24.2% |
| Plant, machinery and equipment | 23 | €1,514 | €938 | -€576 | -38.1% |
| Furniture and vehicles | 24 | €35,509 | €25,179 | -€10,331 | -29.1% |
| Current assets | 29/58 | €879,388 | €924,293 | +€44,904 | +5.1% |
| Amounts receivable within one year | 40/41 | €2,746 | €7,643 | +€4,898 | +178% |
| Trade receivables | 40 | - | €1,133 | +€1,133 | |
| Other amounts receivable | 41 | €2,746 | €6,511 | +€3,765 | +137% |
| Current investments | 50/53 | €740,083 | €723,904 | -€16,179 | -2.2% |
| Cash at bank and in hand | 54/58 | €90,445 | €61,463 | -€28,982 | -32.0% |
| Deferred charges and accrued income | 490/1 | €46,114 | €131,282 | +€85,167 | +185% |
| Total equity and liabilities | 10/49 | €934,671 | €964,248 | +€29,577 | +3.2% |
| Equity | 10/15 | €902,314 | €922,657 | +€20,342 | +2.3% |
| Contributions | 10/11 | €198,600 | €198,600 | = | 0.0% |
| Reserves | 13 | €703,714 | €724,057 | +€20,342 | +2.9% |
| Non-distributable reserves | 130/1 | €17,595 | €17,595 | = | 0.0% |
| Reserves not available under the articles | 1311 | €17,595 | €17,595 | = | 0.0% |
| Distributable reserves | 133 | €686,120 | €706,462 | +€20,342 | +3.0% |
| Amounts payable | 17/49 | €32,357 | €41,591 | +€9,235 | +28.5% |
| Amounts payable within one year | 42/48 | €10,664 | €38,260 | +€27,596 | +259% |
| Trade debts | 44 | €1,976 | €5,402 | +€3,425 | +173% |
| Suppliers | 440/4 | €1,976 | €5,402 | +€3,425 | +173% |
| Taxes, remuneration and social security | 45 | €7,022 | €31,141 | +€24,119 | +343% |
| Taxes | 450/3 | €7,022 | €31,141 | +€24,119 | +343% |
| Other amounts payable | 47/48 | €1,666 | €1,718 | +€52 | +3.1% |
| Accrued charges and deferred income | 492/3 | €21,692 | €3,331 | -€18,362 | -84.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,930 | €17,027 | +€97 | +0.6% |
| Other operating charges | 640/8 | €859 | €791 | -€69 | -8.0% |
| Gross operating margin | 9900 | €218,346 | €261,958 | +€43,612 | +20.0% |
| Operating profit (loss) | 9901 | €200,557 | €244,141 | +€43,584 | +21.7% |
| Financial income | 75/76B | €3,191 | €9,846 | +€6,655 | +209% |
| Recurring financial income | 75 | €3,191 | €9,846 | +€6,655 | +209% |
| Financial charges | 65/66B | €191 | €206 | +€15 | +7.6% |
| Recurring financial charges | 65 | €191 | €206 | +€15 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €203,557 | €253,781 | +€50,224 | +24.7% |
| Income taxes | 67/77 | €61,490 | €81,633 | +€20,143 | +32.8% |
| Profit (loss) for the period | 9904 | €142,067 | €172,148 | +€30,081 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €142,067 | €172,148 | +€30,081 | +21.2% |
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 24 October 2026 via checked.be.