Dr. Langlois: what changed
Two fiscal 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. Langlois
Largest movements
- Current investments +€104,272
up €104,272 (+10.4%), from €1.0m to €1.1m
- Cash +€61,594
up €61,594 (+14.0%), from €440,430 to €502,024
mainly Net result for the year (+€332,114) and Depreciation (+€9,673)
- Reserves +€332,114
up €332,114 (+26.3%), from €1.3m to €1.6m
- Other debts -€143,590
down €143,590 (-100.0%), from €143,590 to €0
- Trade debts -€17,135
down €17,135 (-97.8%), from €17,523 to €388
- Gross operating margin +€67,368
up €67,368 (+16.5%), from €408,683 to €476,052
- Taxes +€16,830
up €16,830 (+12.7%), from €132,801 to €149,631
- Financial income -€8,017
down €8,017 (-21.6%), from €37,181 to €29,163
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.
Cash bridge derived
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 | €1,474,790 | €1,640,970 | +€166,180 | +11.3% |
| Fixed assets | 21/28 | €27,186 | €21,409 | -€5,777 | -21.2% |
| Tangible fixed assets | 22/27 | €26,766 | €20,989 | -€5,777 | -21.6% |
| Plant, machinery and equipment | 23 | €14,138 | €13,133 | -€1,005 | -7.1% |
| Leasing and similar rights | 25 | €12,628 | €7,857 | -€4,772 | -37.8% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €1,447,604 | €1,619,560 | +€171,957 | +11.9% |
| Amounts receivable within one year | 40/41 | €0 | €6,027 | +€6,027 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €6,027 | +€6,027 | |
| Current investments | 50/53 | €1,005,536 | €1,109,808 | +€104,272 | +10.4% |
| Cash at bank and in hand | 54/58 | €440,430 | €502,024 | +€61,594 | +14.0% |
| Deferred charges and accrued income | 490/1 | €1,638 | €1,701 | +€63 | +3.9% |
| Total equity and liabilities | 10/49 | €1,474,790 | €1,640,970 | +€166,180 | +11.3% |
| Equity | 10/15 | €1,261,049 | €1,593,163 | +€332,114 | +26.3% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €1,260,549 | €1,592,663 | +€332,114 | +26.3% |
| Distributable reserves | 133 | €1,260,549 | €1,592,663 | +€332,114 | +26.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €213,741 | €47,807 | -€165,935 | -77.6% |
| Amounts payable after more than one year | 17 | €7,891 | €2,947 | -€4,944 | -62.7% |
| Financial debts | 170/4 | €7,891 | €2,947 | -€4,944 | -62.7% |
| Amounts payable within one year | 42/48 | €205,851 | €44,860 | -€160,991 | -78.2% |
| Current portion of amounts payable after more than one year | 42 | €4,810 | €4,944 | +€134 | +2.8% |
| Financial debts | 43 | €19 | €307 | +€288 | +1515.7% |
| Credit institutions | 430/8 | €19 | €307 | +€288 | +1515.7% |
| Trade debts | 44 | €17,523 | €388 | -€17,135 | -97.8% |
| Suppliers | 440/4 | €17,523 | €388 | -€17,135 | -97.8% |
| Taxes, remuneration and social security | 45 | €39,909 | €39,222 | -€688 | -1.7% |
| Taxes | 450/3 | €39,909 | €39,222 | -€688 | -1.7% |
| Other amounts payable | 47/48 | €143,590 | €0 | -€143,590 | -100.0% |
| Non-recurring operating income | 76A | €550 | €0 | -€550 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,077 | €9,673 | +€596 | +6.6% |
| Other operating charges | 640/8 | €3,531 | €3,181 | -€351 | -9.9% |
| Gross operating margin | 9900 | €408,683 | €476,052 | +€67,368 | +16.5% |
| Operating profit (loss) | 9901 | €396,075 | €463,198 | +€67,123 | +16.9% |
| Financial income | 75/76B | €37,181 | €29,163 | -€8,017 | -21.6% |
| Recurring financial income | 75 | €37,181 | €29,163 | -€8,017 | -21.6% |
| Financial charges | 65/66B | €7,306 | €10,616 | +€3,311 | +45.3% |
| Recurring financial charges | 65 | €7,306 | €10,616 | +€3,311 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €425,950 | €481,745 | +€55,795 | +13.1% |
| Income taxes | 67/77 | €132,801 | €149,631 | +€16,830 | +12.7% |
| Profit (loss) for the period | 9904 | €293,149 | €332,114 | +€38,966 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €293,149 | €332,114 | +€38,966 | +13.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.