DR. LEON REYNDERS: 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. LEON REYNDERS
Largest movements
- Cash +€136,540
up €136,540 (+7.9%), from €1.7m to €1.9m
mainly Net result for the year (+€228,725) and Depreciation (+€13,156)
- Reserves +€228,725
up €228,725 (+14.4%), from €1.6m to €1.8m
of which Distributable reserves: +€228,725
- Tax, wage and social debts -€84,098
down €84,098 (-78.3%), from €107,420 to €23,323
- Gross operating margin +€24,724
up €24,724 (+7.6%), from €326,765 to €351,489
- Taxes +€7,028
up €7,028 (+7.0%), from €100,730 to €107,758
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 | €1,817,859 | €1,962,718 | +€144,858 | +8.0% |
| Fixed assets | 21/28 | €22,985 | €14,628 | -€8,357 | -36.4% |
| Tangible fixed assets | 22/27 | €22,985 | €14,628 | -€8,357 | -36.4% |
| Furniture and vehicles | 24 | €22,985 | €14,628 | -€8,357 | -36.4% |
| Current assets | 29/58 | €1,794,875 | €1,948,090 | +€153,215 | +8.5% |
| Amounts receivable within one year | 40/41 | €4,140 | €20,600 | +€16,460 | +397.6% |
| Trade receivables | 40 | €259 | €0 | -€259 | -100.0% |
| Other amounts receivable | 41 | €3,881 | €20,600 | +€16,719 | +430.8% |
| Current investments | 50/53 | €56,560 | €56,560 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,730,526 | €1,867,066 | +€136,540 | +7.9% |
| Deferred charges and accrued income | 490/1 | €3,649 | €3,864 | +€215 | +5.9% |
| Total equity and liabilities | 10/49 | €1,817,859 | €1,962,718 | +€144,858 | +8.0% |
| Equity | 10/15 | €1,708,659 | €1,937,384 | +€228,725 | +13.4% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €1,588,659 | €1,817,384 | +€228,725 | +14.4% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €1,576,659 | €1,805,384 | +€228,725 | +14.5% |
| Amounts payable | 17/49 | €109,200 | €25,333 | -€83,867 | -76.8% |
| Amounts payable within one year | 42/48 | €108,452 | €24,586 | -€83,866 | -77.3% |
| Trade debts | 44 | €1,032 | €1,263 | +€231 | +22.4% |
| Suppliers | 440/4 | €1,032 | €1,263 | +€231 | +22.4% |
| Taxes, remuneration and social security | 45 | €107,420 | €23,323 | -€84,098 | -78.3% |
| Taxes | 450/3 | €107,420 | €23,323 | -€84,098 | -78.3% |
| Accrued charges and deferred income | 492/3 | €748 | €748 | -€1 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,351 | €13,156 | +€805 | +6.5% |
| Other operating charges | 640/8 | €1,580 | €1,621 | +€41 | +2.6% |
| Non-recurring operating charges | 66A | €202 | €0 | -€202 | -100.0% |
| Gross operating margin | 9900 | €326,765 | €351,489 | +€24,724 | +7.6% |
| Operating profit (loss) | 9901 | €312,632 | €336,712 | +€24,080 | +7.7% |
| Financial income | 75/76B | €3 | €9 | +€6 | +199.7% |
| Recurring financial income | 75 | €3 | €9 | +€6 | +199.7% |
| Financial charges | 65/66B | €205 | €238 | +€32 | +15.7% |
| Recurring financial charges | 65 | €205 | €238 | +€32 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €312,430 | €336,484 | +€24,054 | +7.7% |
| Income taxes | 67/77 | €100,730 | €107,758 | +€7,028 | +7.0% |
| Profit (loss) for the period | 9904 | €211,700 | €228,725 | +€17,026 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €211,700 | €228,725 | +€17,026 | +8.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.