Dr. Lore Vander Linden: 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 Vander Linden
Largest movements
- Deferred charges and accrued income +€114,876
new in 2025: €114,876
- Cash +€58,817
up €58,817 (+223%), from €26,325 to €85,142
mainly Net result for the year (+€123,271) and Current investments (+€50,000)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Reserves +€123,271
up €123,271 (+127%), from €96,746 to €220,017
- Tax, wage and social debts +€30,794
up €30,794 (+584%), from €5,269 to €36,063
of which Taxes: +€29,203
- Other debts -€28,978
down €28,978 (-88.6%), from €32,713 to €3,734
- Gross operating margin +€132,865
up €132,865 (+555%), from €23,955 to €156,821
- Taxes +€29,877
up €29,877 (+596%), from €5,011 to €34,888
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 | €137,227 | €262,864 | +€125,636 | +91.6% |
| Fixed assets | 21/28 | €903 | €2,846 | +€1,943 | +215% |
| Tangible fixed assets | 22/27 | €903 | €2,846 | +€1,943 | +215% |
| Plant, machinery and equipment | 23 | €903 | €2,846 | +€1,943 | +215% |
| Current assets | 29/58 | €136,325 | €260,018 | +€123,693 | +90.7% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €26,325 | €85,142 | +€58,817 | +223% |
| Deferred charges and accrued income | 490/1 | - | €114,876 | +€114,876 | |
| Total equity and liabilities | 10/49 | €137,227 | €262,864 | +€125,636 | +91.6% |
| Equity | 10/15 | €99,246 | €222,517 | +€123,271 | +124% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €96,746 | €220,017 | +€123,271 | +127% |
| Distributable reserves | 133 | €96,746 | €220,017 | +€123,271 | +127% |
| Amounts payable | 17/49 | €37,982 | €40,347 | +€2,365 | +6.2% |
| Amounts payable within one year | 42/48 | €37,982 | €40,095 | +€2,113 | +5.6% |
| Trade debts | 44 | - | €297 | +€297 | |
| Suppliers | 440/4 | - | €297 | +€297 | |
| Taxes, remuneration and social security | 45 | €5,269 | €36,063 | +€30,794 | +584% |
| Taxes | 450/3 | €5,269 | €34,472 | +€29,203 | +554% |
| Remuneration and social security | 454/9 | - | €1,591 | +€1,591 | |
| Other amounts payable | 47/48 | €32,713 | €3,734 | -€28,978 | -88.6% |
| Accrued charges and deferred income | 492/3 | - | €252 | +€252 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €376 | €621 | +€244 | +65.0% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €23,955 | €156,821 | +€132,865 | +555% |
| Operating profit (loss) | 9901 | €23,579 | €156,137 | +€132,558 | +562% |
| Financial income | 75/76B | €540 | €2,105 | +€1,565 | +290% |
| Recurring financial income | 75 | €540 | €2,105 | +€1,565 | +290% |
| Financial charges | 65/66B | - | €83 | +€83 | |
| Recurring financial charges | 65 | - | €83 | +€83 | |
| Profit (loss) for the period before taxes | 9903 | €24,119 | €158,159 | +€134,040 | +556% |
| Income taxes | 67/77 | €5,011 | €34,888 | +€29,877 | +596% |
| Profit (loss) for the period | 9904 | €19,108 | €123,271 | +€104,163 | +545% |
| Profit (loss) for the period to be appropriated | 9905 | €19,108 | €123,271 | +€104,163 | +545% |
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 25 October 2026 via checked.be.