Dr. Laurijn Durt: 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. Laurijn Durt
Largest movements
- Current investments +€70,000
new in 2025: €70,000
- Cash -€39,349
down €39,349 (-62.6%), from €62,875 to €23,525
mainly Current investments (-€70,000) and Receivables within one year (-€34,501)
- Receivables within one year +€34,501
up €34,501 (+6,046%), from €571 to €35,071
- Deferred charges and accrued income +€9,238
up €9,238 (+11,099%), from €83 to €9,321
- Tangible fixed assets -€4,968
down €4,968 (-11.4%), from €43,756 to €38,788
of which Land and buildings: -€4,858
- Reserves +€68,552
up €68,552 (+103%), from €66,817 to €135,370
- Debts after one year -€8,021
down €8,021 (-25.6%), from €31,354 to €23,333
- Current portion of long-term debt +€5,104
up €5,104 (+140%), from €3,646 to €8,750
- Tax, wage and social debts +€3,636
up €3,636 (+143%), from €2,546 to €6,182
- Gross operating margin +€15,381
up €15,381 (+19.3%), from €79,511 to €94,892
- Depreciation +€4,727
up €4,727 (+178%), from €2,661 to €7,388
- Taxes +€2,646
up €2,646 (+17.0%), from €15,546 to €18,191
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 | €107,284 | €176,705 | +€69,420 | +64.7% |
| Fixed assets | 21/28 | €43,756 | €38,788 | -€4,968 | -11.4% |
| Tangible fixed assets | 22/27 | €43,756 | €38,788 | -€4,968 | -11.4% |
| Land and buildings | 22 | €36,358 | €31,500 | -€4,858 | -13.4% |
| Furniture and vehicles | 24 | €7,398 | €7,288 | -€110 | -1.5% |
| Current assets | 29/58 | €63,529 | €137,917 | +€74,389 | +117% |
| Amounts receivable within one year | 40/41 | €571 | €35,071 | +€34,501 | +6,046% |
| Trade receivables | 40 | €571 | €35,071 | +€34,501 | +6,046% |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €62,875 | €23,525 | -€39,349 | -62.6% |
| Deferred charges and accrued income | 490/1 | €83 | €9,321 | +€9,238 | +11,099% |
| Total equity and liabilities | 10/49 | €107,284 | €176,705 | +€69,420 | +64.7% |
| Equity | 10/15 | €67,817 | €136,370 | +€68,552 | +101% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €66,817 | €135,370 | +€68,552 | +103% |
| Distributable reserves | 133 | €66,817 | €135,370 | +€68,552 | +103% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €39,467 | €40,335 | +€868 | +2.2% |
| Amounts payable after more than one year | 17 | €31,354 | €23,333 | -€8,021 | -25.6% |
| Financial debts | 170/4 | €31,354 | €23,333 | -€8,021 | -25.6% |
| Amounts payable within one year | 42/48 | €8,113 | €17,002 | +€8,889 | +110% |
| Current portion of amounts payable after more than one year | 42 | €3,646 | €8,750 | +€5,104 | +140% |
| Trade debts | 44 | €854 | €1,158 | +€304 | +35.6% |
| Suppliers | 440/4 | €854 | €1,158 | +€304 | +35.6% |
| Taxes, remuneration and social security | 45 | €2,546 | €6,182 | +€3,636 | +143% |
| Taxes | 450/3 | €2,546 | €6,182 | +€3,636 | +143% |
| Other amounts payable | 47/48 | €1,068 | €912 | -€156 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,661 | €7,388 | +€4,727 | +178% |
| Other operating charges | 640/8 | €138 | €726 | +€588 | +426% |
| Gross operating margin | 9900 | €79,511 | €94,892 | +€15,381 | +19.3% |
| Operating profit (loss) | 9901 | €76,712 | €86,778 | +€10,066 | +13.1% |
| Financial income | 75/76B | - | €32 | +€32 | |
| Recurring financial income | 75 | - | €32 | +€32 | |
| Financial charges | 65/66B | €44 | €65 | +€22 | +50.5% |
| Recurring financial charges | 65 | €44 | €65 | +€22 | +50.5% |
| Profit (loss) for the period before taxes | 9903 | €76,668 | €86,744 | +€10,075 | +13.1% |
| Income taxes | 67/77 | €15,546 | €18,191 | +€2,646 | +17.0% |
| Profit (loss) for the period | 9904 | €61,123 | €68,552 | +€7,430 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €61,123 | €68,552 | +€7,430 | +12.2% |
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 28 October 2026 via checked.be.