Dr. Lore Budiharto: 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. Lore Budiharto
Largest movements
- Tangible fixed assets +€312,268
up €312,268 (+1,790%), from €17,449 to €329,716
of which Land and buildings: +€301,626
- Cash +€224,620
up €224,620 (+221%), from €101,595 to €326,215
mainly Debts after one year (+€255,000) and Current investments (+€125,000)
- Current investments -€125,000
no longer reported in 2024 (was €125,000)
- Receivables within one year -€58,800
down €58,800 (-8.9%), from €661,535 to €602,735
of which Other amounts receivable: -€50,316
- Intangible fixed assets -€30,000
down €30,000 (-34.3%), from €87,500 to €57,500
- Debts after one year +€255,000
new in 2024: €255,000
- Reserves +€89,115
up €89,115 (+7.9%), from €1.1m to €1.2m
of which Distributable reserves: +€89,115
- Tax, wage and social debts -€17,308
down €17,308 (-32.1%), from €53,877 to €36,569
- Gross operating margin -€43,319
down €43,319 (-22.7%), from €190,774 to €147,456
- Taxes -€15,644
down €15,644 (-31.3%), from €49,984 to €34,340
- Financial income +€13,118
up €13,118 (+91.8%), from €14,295 to €27,413
- Depreciation +€8,372
up €8,372 (+23.9%), from €35,027 to €43,399
- Financial charges +€5,763
up €5,763 (+571%), from €1,010 to €6,773
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,215,490 | €1,534,817 | +€319,327 | +26.3% |
| Fixed assets | 21/28 | €323,599 | €605,866 | +€282,268 | +87.2% |
| Intangible fixed assets | 21 | €87,500 | €57,500 | -€30,000 | -34.3% |
| Tangible fixed assets | 22/27 | €17,449 | €329,716 | +€312,268 | +1,790% |
| Land and buildings | 22 | €12,066 | €313,691 | +€301,626 | +2,500% |
| Furniture and vehicles | 24 | €5,383 | €13,358 | +€7,975 | +148% |
| Other tangible fixed assets | 26 | - | €2,667 | +€2,667 | |
| Financial fixed assets | 28 | €218,650 | €218,650 | = | 0.0% |
| Current assets | 29/58 | €891,891 | €928,950 | +€37,059 | +4.2% |
| Amounts receivable within one year | 40/41 | €661,535 | €602,735 | -€58,800 | -8.9% |
| Trade receivables | 40 | €10,901 | €2,418 | -€8,484 | -77.8% |
| Other amounts receivable | 41 | €650,633 | €600,318 | -€50,316 | -7.7% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €101,595 | €326,215 | +€224,620 | +221% |
| Deferred charges and accrued income | 490/1 | €3,761 | - | -€3,761 | |
| Total equity and liabilities | 10/49 | €1,215,490 | €1,534,817 | +€319,327 | +26.3% |
| Equity | 10/15 | €1,145,553 | €1,240,868 | +€95,315 | +8.3% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €1,133,153 | €1,222,268 | +€89,115 | +7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,131,293 | €1,220,408 | +€89,115 | +7.9% |
| Amounts payable | 17/49 | €69,937 | €293,949 | +€224,012 | +320% |
| Amounts payable after more than one year | 17 | - | €255,000 | +€255,000 | |
| Financial debts | 170/4 | - | €255,000 | +€255,000 | |
| Amounts payable within one year | 42/48 | €69,937 | €38,949 | -€30,988 | -44.3% |
| Current portion of amounts payable after more than one year | 42 | €14,286 | - | -€14,286 | |
| Trade debts | 44 | €1,774 | €2,380 | +€606 | +34.2% |
| Suppliers | 440/4 | €1,774 | €2,380 | +€606 | +34.2% |
| Taxes, remuneration and social security | 45 | €53,877 | €36,569 | -€17,308 | -32.1% |
| Taxes | 450/3 | €53,877 | €36,569 | -€17,308 | -32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,027 | €43,399 | +€8,372 | +23.9% |
| Other operating charges | 640/8 | €2,451 | €1,242 | -€1,210 | -49.3% |
| Gross operating margin | 9900 | €190,774 | €147,456 | -€43,319 | -22.7% |
| Operating profit (loss) | 9901 | €153,296 | €102,815 | -€50,481 | -32.9% |
| Financial income | 75/76B | €14,295 | €27,413 | +€13,118 | +91.8% |
| Recurring financial income | 75 | €14,295 | €27,413 | +€13,118 | +91.8% |
| Financial charges | 65/66B | €1,010 | €6,773 | +€5,763 | +571% |
| Recurring financial charges | 65 | €1,010 | €6,773 | +€5,763 | +571% |
| Profit (loss) for the period before taxes | 9903 | €166,581 | €123,455 | -€43,126 | -25.9% |
| Income taxes | 67/77 | €49,984 | €34,340 | -€15,644 | -31.3% |
| Profit (loss) for the period | 9904 | €116,597 | €89,115 | -€27,482 | -23.6% |
| Profit (loss) for the period to be appropriated | 9905 | €116,597 | €89,115 | -€27,482 | -23.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.