Dr. Lukas Hermans: 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. Lukas Hermans
Largest movements
- Cash +€65,023
up €65,023 (+67.7%), from €96,087 to €161,110
mainly Net result for the year (+€52,508) and Deferred charges and accrued income (+€12,068)
- Deferred charges and accrued income -€12,068
down €12,068 (-76.1%), from €15,860 to €3,792
- Reserves +€52,508
up €52,508 (+51.8%), from €101,434 to €153,941
- Tax, wage and social debts +€4,101
up €4,101 (+146%), from €2,816 to €6,917
- Trade debts -€3,654
down €3,654 (-77.8%), from €4,698 to €1,044
- Gross operating margin -€15,156
down €15,156 (-18.2%), from €83,206 to €68,050
- Taxes -€3,166
down €3,166 (-17.8%), from €17,816 to €14,650
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 | €111,947 | €164,902 | +€52,955 | +47.3% |
| Current assets | 29/58 | €111,947 | €164,902 | +€52,955 | +47.3% |
| Cash at bank and in hand | 54/58 | €96,087 | €161,110 | +€65,023 | +67.7% |
| Deferred charges and accrued income | 490/1 | €15,860 | €3,792 | -€12,068 | -76.1% |
| Total equity and liabilities | 10/49 | €111,947 | €164,902 | +€52,955 | +47.3% |
| Equity | 10/15 | €104,434 | €156,941 | +€52,508 | +50.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €101,434 | €153,941 | +€52,508 | +51.8% |
| Distributable reserves | 133 | €101,434 | €153,941 | +€52,508 | +51.8% |
| Amounts payable | 17/49 | €7,514 | €7,961 | +€447 | +6.0% |
| Amounts payable within one year | 42/48 | €7,514 | €7,961 | +€447 | +6.0% |
| Trade debts | 44 | €4,698 | €1,044 | -€3,654 | -77.8% |
| Suppliers | 440/4 | €4,698 | €1,044 | -€3,654 | -77.8% |
| Taxes, remuneration and social security | 45 | €2,816 | €6,917 | +€4,101 | +146% |
| Taxes | 450/3 | €2,816 | €6,917 | +€4,101 | +146% |
| Other operating charges | 640/8 | €448 | €961 | +€513 | +114% |
| Gross operating margin | 9900 | €83,206 | €68,050 | -€15,156 | -18.2% |
| Operating profit (loss) | 9901 | €82,758 | €67,089 | -€15,669 | -18.9% |
| Financial income | 75/76B | - | €114 | +€114 | |
| Recurring financial income | 75 | - | €114 | +€114 | |
| Financial charges | 65/66B | €74 | €45 | -€29 | -39.3% |
| Recurring financial charges | 65 | €74 | €45 | -€29 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €82,684 | €67,158 | -€15,526 | -18.8% |
| Income taxes | 67/77 | €17,816 | €14,650 | -€3,166 | -17.8% |
| Profit (loss) for the period | 9904 | €64,868 | €52,508 | -€12,360 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €64,868 | €52,508 | -€12,360 | -19.1% |
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 24 October 2026 via checked.be.