DR M.COLLARD: 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 M.COLLARD
Largest movements
- Cash +€142,822
up €142,822 (+114.3%), from €124,976 to €267,798
mainly Net result for the year (+€282,135) and Tax, wage and social debts (+€39,390)
- Tangible fixed assets +€36,712
up €36,712 (+17.5%), from €210,271 to €246,983
of which Land and buildings: +€29,532
- Receivables within one year +€11,989
up €11,989 (+10.2%), from €117,453 to €129,442
- Reserves +€126,000
up €126,000 (+114.5%), from €110,000 to €236,000
- Tax, wage and social debts +€39,390
up €39,390 (+51.7%), from €76,185 to €115,575
- Other debts +€23,250
up €23,250 (+21.5%), from €107,950 to €131,200
- Trade debts +€18,628
up €18,628 (+7598.1%), from €245 to €18,873
- Debts after one year -€10,274
down €10,274 (-6.3%), from €162,462 to €152,187
- Gross operating margin +€117,357
up €117,357 (+43.1%), from €272,415 to €389,772
- Taxes +€26,402
up €26,402 (+41.8%), from €63,235 to €89,637
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 | €476,719 | €670,214 | +€193,495 | +40.6% |
| Fixed assets | 21/28 | €220,421 | €257,133 | +€36,712 | +16.7% |
| Tangible fixed assets | 22/27 | €210,271 | €246,983 | +€36,712 | +17.5% |
| Land and buildings | 22 | €208,582 | €238,114 | +€29,532 | +14.2% |
| Furniture and vehicles | 24 | €1,689 | €8,869 | +€7,180 | +425.2% |
| Financial fixed assets | 28 | €10,150 | €10,150 | = | 0.0% |
| Current assets | 29/58 | €256,299 | €413,081 | +€156,782 | +61.2% |
| Amounts receivable within one year | 40/41 | €117,453 | €129,442 | +€11,989 | +10.2% |
| Other amounts receivable | 41 | €117,453 | €129,442 | +€11,989 | +10.2% |
| Cash at bank and in hand | 54/58 | €124,976 | €267,798 | +€142,822 | +114.3% |
| Deferred charges and accrued income | 490/1 | €13,870 | €15,841 | +€1,972 | +14.2% |
| Total equity and liabilities | 10/49 | €476,719 | €670,214 | +€193,495 | +40.6% |
| Equity | 10/15 | €119,034 | €241,169 | +€122,135 | +102.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €110,000 | €236,000 | +€126,000 | +114.5% |
| Distributable reserves | 133 | €110,000 | €236,000 | +€126,000 | +114.5% |
| Profit (loss) carried forward | 14 | €4,034 | €169 | -€3,865 | -95.8% |
| Amounts payable | 17/49 | €357,686 | €429,045 | +€71,360 | +20.0% |
| Amounts payable after more than one year | 17 | €162,462 | €152,187 | -€10,274 | -6.3% |
| Financial debts | 170/4 | €162,462 | €152,187 | -€10,274 | -6.3% |
| Amounts payable within one year | 42/48 | €195,224 | €276,858 | +€81,634 | +41.8% |
| Current portion of amounts payable after more than one year | 42 | €10,844 | €11,209 | +€366 | +3.4% |
| Trade debts | 44 | €245 | €18,873 | +€18,628 | +7598.1% |
| Suppliers | 440/4 | €245 | €18,873 | +€18,628 | +7598.1% |
| Taxes, remuneration and social security | 45 | €76,185 | €115,575 | +€39,390 | +51.7% |
| Taxes | 450/3 | €76,185 | €115,575 | +€39,390 | +51.7% |
| Other amounts payable | 47/48 | €107,950 | €131,200 | +€23,250 | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,895 | €9,242 | +€1,347 | +17.1% |
| Other operating charges | 640/8 | €550 | €453 | -€98 | -17.8% |
| Gross operating margin | 9900 | €272,415 | €389,772 | +€117,357 | +43.1% |
| Operating profit (loss) | 9901 | €263,970 | €380,077 | +€116,107 | +44.0% |
| Financial charges | 65/66B | €9,604 | €8,305 | -€1,299 | -13.5% |
| Recurring financial charges | 65 | €9,604 | €8,305 | -€1,299 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €254,366 | €371,773 | +€117,407 | +46.2% |
| Income taxes | 67/77 | €63,235 | €89,637 | +€26,402 | +41.8% |
| Profit (loss) for the period | 9904 | €191,131 | €282,135 | +€91,004 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €191,131 | €282,135 | +€91,004 | +47.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.