Dr. Lander Tubbax: 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. Lander Tubbax
Largest movements
- Cash +€53,352
up €53,352 (+120%), from €44,545 to €97,897
mainly Net result for the year (+€81,357) and Other debts (+€72,959)
- Tangible fixed assets -€16,791
down €16,791 (-46.6%), from €36,069 to €19,278
of which Furniture and vehicles: -€16,548
- Receivables within one year +€15,743
up €15,743 (+98.5%), from €15,978 to €31,721
of which Trade receivables: +€17,117
- Other debts +€72,959
up €72,959 (+133,040%), from €55 to €73,014
- Reserves -€40,030
down €40,030 (-100%), from €40,030 to €0
- Accrued charges and deferred income +€18,125
up €18,125 (+146%), from €12,408 to €30,533
- Tax, wage and social debts +€12,600
up €12,600 (+35,563%), from €35 to €12,635
- Debts after one year -€11,599
down €11,599 (-43.4%), from €26,717 to €15,119
- Gross operating margin +€50,424
up €50,424 (+68.9%), from €73,138 to €123,561
- Taxes +€10,157
up €10,157 (+82.9%), from €12,246 to €22,403
- Other operating charges -€3,368
down €3,368 (-72.3%), from €4,656 to €1,288
- Depreciation +€2,438
up €2,438 (+17.0%), from €14,353 to €16,791
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 | €96,592 | €148,897 | +€52,305 | +54.2% |
| Fixed assets | 21/28 | €36,069 | €19,278 | -€16,791 | -46.6% |
| Tangible fixed assets | 22/27 | €36,069 | €19,278 | -€16,791 | -46.6% |
| Plant, machinery and equipment | 23 | €1,381 | €1,138 | -€243 | -17.6% |
| Furniture and vehicles | 24 | €34,688 | €18,140 | -€16,548 | -47.7% |
| Current assets | 29/58 | €60,523 | €129,618 | +€69,096 | +114% |
| Amounts receivable within one year | 40/41 | €15,978 | €31,721 | +€15,743 | +98.5% |
| Trade receivables | 40 | €11,850 | €28,967 | +€17,117 | +144% |
| Other amounts receivable | 41 | €4,127 | €2,754 | -€1,373 | -33.3% |
| Cash at bank and in hand | 54/58 | €44,545 | €97,897 | +€53,352 | +120% |
| Total equity and liabilities | 10/49 | €96,592 | €148,897 | +€52,305 | +54.2% |
| Equity | 10/15 | €45,030 | €5,000 | -€40,030 | -88.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €40,030 | €0 | -€40,030 | -100% |
| Distributable reserves | 133 | €40,030 | €0 | -€40,030 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,562 | €143,897 | +€92,335 | +179% |
| Amounts payable after more than one year | 17 | €26,717 | €15,119 | -€11,599 | -43.4% |
| Financial debts | 170/4 | €26,717 | €15,119 | -€11,599 | -43.4% |
| Amounts payable within one year | 42/48 | €12,437 | €98,246 | +€85,809 | +690% |
| Current portion of amounts payable after more than one year | 42 | €11,175 | €11,599 | +€424 | +3.8% |
| Trade debts | 44 | €1,171 | €997 | -€174 | -14.8% |
| Suppliers | 440/4 | €1,171 | €997 | -€174 | -14.8% |
| Taxes, remuneration and social security | 45 | €35 | €12,635 | +€12,600 | +35,563% |
| Taxes | 450/3 | €35 | €12,635 | +€12,600 | +35,563% |
| Other amounts payable | 47/48 | €55 | €73,014 | +€72,959 | +133,040% |
| Accrued charges and deferred income | 492/3 | €12,408 | €30,533 | +€18,125 | +146% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,353 | €16,791 | +€2,438 | +17.0% |
| Other operating charges | 640/8 | €4,656 | €1,288 | -€3,368 | -72.3% |
| Gross operating margin | 9900 | €73,138 | €123,561 | +€50,424 | +68.9% |
| Operating profit (loss) | 9901 | €54,129 | €105,483 | +€51,354 | +94.9% |
| Financial income | 75/76B | €28 | €143 | +€115 | +407% |
| Recurring financial income | 75 | €28 | €143 | +€115 | +407% |
| Financial charges | 65/66B | €1,881 | €1,865 | -€16 | -0.8% |
| Recurring financial charges | 65 | €1,881 | €1,865 | -€16 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €52,276 | €103,760 | +€51,485 | +98.5% |
| Income taxes | 67/77 | €12,246 | €22,403 | +€10,157 | +82.9% |
| Profit (loss) for the period | 9904 | €40,030 | €81,357 | +€41,327 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €40,030 | €81,357 | +€41,327 | +103% |
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 20 October 2026 via checked.be.