DR. M. DEVOS: 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. M. DEVOS
Largest movements
- Cash +€60,817
up €60,817 (+33.3%), from €182,488 to €243,305
mainly Net result for the year (+€78,137) and Receivables after one year (+€49,331)
- Receivables after one year -€49,331
down €49,331 (-34.9%), from €141,254 to €91,924
- Tangible fixed assets +€41,088
up €41,088 (+34.1%), from €120,562 to €161,651
of which Furniture and vehicles: +€38,474
- Receivables within one year -€24,173
down €24,173 (-24.8%), from €97,542 to €73,369
of which Trade receivables: -€27,790
- Deferred charges and accrued income -€9,800
down €9,800 (-33.2%), from €29,531 to €19,731
- Reserves +€17,463
up €17,463 (+3.5%), from €505,779 to €523,241
of which Distributable reserves: +€17,463
- Other debts +€12,880
up €12,880 (+104%), from €12,393 to €25,273
- Accrued charges and deferred income -€7,950
down €7,950 (-100%), from €7,950 to €0
- Gross operating margin -€10,817
down €10,817 (-7.7%), from €139,822 to €129,005
- Taxes -€2,941
down €2,941 (-8.0%), from €36,960 to €34,018
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 | €573,853 | €592,454 | +€18,601 | +3.2% |
| Fixed assets | 21/28 | €123,038 | €164,126 | +€41,088 | +33.4% |
| Tangible fixed assets | 22/27 | €120,562 | €161,651 | +€41,088 | +34.1% |
| Land and buildings | 22 | €74,250 | €74,250 | = | 0.0% |
| Furniture and vehicles | 24 | €37,716 | €76,190 | +€38,474 | +102% |
| Other tangible fixed assets | 26 | €8,596 | €11,210 | +€2,614 | +30.4% |
| Financial fixed assets | 28 | €2,475 | €2,475 | = | 0.0% |
| Current assets | 29/58 | €450,815 | €428,329 | -€22,487 | -5.0% |
| Amounts receivable after more than one year | 29 | €141,254 | €91,924 | -€49,331 | -34.9% |
| Other amounts receivable | 291 | €141,254 | €91,924 | -€49,331 | -34.9% |
| Amounts receivable within one year | 40/41 | €97,542 | €73,369 | -€24,173 | -24.8% |
| Trade receivables | 40 | €39,793 | €12,003 | -€27,790 | -69.8% |
| Other amounts receivable | 41 | €57,749 | €61,366 | +€3,617 | +6.3% |
| Cash at bank and in hand | 54/58 | €182,488 | €243,305 | +€60,817 | +33.3% |
| Deferred charges and accrued income | 490/1 | €29,531 | €19,731 | -€9,800 | -33.2% |
| Total equity and liabilities | 10/49 | €573,853 | €592,454 | +€18,601 | +3.2% |
| Equity | 10/15 | €516,184 | €533,647 | +€17,463 | +3.4% |
| Contributions | 10/11 | €10,405 | €10,405 | = | 0.0% |
| Reserves | 13 | €505,779 | €523,241 | +€17,463 | +3.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €505,779 | €523,241 | +€17,463 | +3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €57,669 | €58,808 | +€1,139 | +2.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €49,719 | €58,808 | +€9,089 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €3,184 | €0 | -€3,184 | -100% |
| Financial debts | 43 | €8,653 | €6,911 | -€1,742 | -20.1% |
| Credit institutions | 430/8 | €8,653 | €6,911 | -€1,742 | -20.1% |
| Trade debts | 44 | €2,761 | €4,197 | +€1,436 | +52.0% |
| Suppliers | 440/4 | €2,761 | €4,197 | +€1,436 | +52.0% |
| Taxes, remuneration and social security | 45 | €22,727 | €22,426 | -€301 | -1.3% |
| Taxes | 450/3 | €19,727 | €22,426 | +€2,699 | +13.7% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100% |
| Other amounts payable | 47/48 | €12,393 | €25,273 | +€12,880 | +104% |
| Accrued charges and deferred income | 492/3 | €7,950 | €0 | -€7,950 | -100% |
| Non-recurring operating income | 76A | - | €7,673 | +€7,673 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,702 | €19,554 | +€852 | +4.6% |
| Other operating charges | 640/8 | €807 | €764 | -€44 | -5.4% |
| Gross operating margin | 9900 | €139,822 | €129,005 | -€10,817 | -7.7% |
| Operating profit (loss) | 9901 | €120,313 | €108,687 | -€11,626 | -9.7% |
| Financial income | 75/76B | €6,169 | €4,929 | -€1,241 | -20.1% |
| Recurring financial income | 75 | €6,169 | €4,929 | -€1,241 | -20.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,944 | €1,460 | -€484 | -24.9% |
| Recurring financial charges | 65 | €1,944 | €1,460 | -€484 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €124,538 | €112,156 | -€12,382 | -9.9% |
| Income taxes | 67/77 | €36,960 | €34,018 | -€2,941 | -8.0% |
| Profit (loss) for the period | 9904 | €87,578 | €78,137 | -€9,441 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €87,578 | €78,137 | -€9,441 | -10.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.