DR. M. HANNES: 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. HANNES
Largest movements
- Cash +€115,860
up €115,860 (+315%), from €36,774 to €152,634
mainly Net result for the year (+€64,256) and Depreciation (+€32,060)
- Tangible fixed assets +€29,167
up €29,167 (+567%), from €5,144 to €34,311
of which Furniture and vehicles: +€30,811
- Intangible fixed assets -€25,000
down €25,000 (-32.0%), from €78,082 to €53,082
- Deferred charges and accrued income -€3,576
down €3,576 (-86.1%), from €4,155 to €579
- Receivables within one year +€3,018
up €3,018 (+36.7%), from €8,227 to €11,245
of which Trade receivables: +€3,390
- Profit (loss) carried forward +€64,256
up €64,256 (+115%), from €55,833 to €120,089
- Debts after one year +€27,747
new in 2025: €27,747
- Tax, wage and social debts +€21,003
up €21,003 (+61.3%), from €34,238 to €55,241
of which Taxes: +€17,085
- Current portion of long-term debt +€7,217
new in 2025: €7,217
- Gross operating margin +€25,205
up €25,205 (+19.5%), from €128,993 to €154,198
- Taxes +€16,881
up €16,881 (+108%), from €15,682 to €32,564
- Staff costs +€2,369
up €2,369 (+11.7%), from €20,207 to €22,576
- Financial charges -€2,368
down €2,368 (-72.4%), from €3,270 to €901
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 | €132,381 | €251,851 | +€119,469 | +90.2% |
| Fixed assets | 21/28 | €83,226 | €87,393 | +€4,167 | +5.0% |
| Intangible fixed assets | 21 | €78,082 | €53,082 | -€25,000 | -32.0% |
| Tangible fixed assets | 22/27 | €5,144 | €34,311 | +€29,167 | +567% |
| Plant, machinery and equipment | 23 | €1,644 | - | -€1,644 | |
| Furniture and vehicles | 24 | €3,500 | €34,311 | +€30,811 | +880% |
| Current assets | 29/58 | €49,155 | €164,457 | +€115,302 | +235% |
| Amounts receivable within one year | 40/41 | €8,227 | €11,245 | +€3,018 | +36.7% |
| Trade receivables | 40 | - | €3,390 | +€3,390 | |
| Other amounts receivable | 41 | €8,227 | €7,854 | -€373 | -4.5% |
| Cash at bank and in hand | 54/58 | €36,774 | €152,634 | +€115,860 | +315% |
| Deferred charges and accrued income | 490/1 | €4,155 | €579 | -€3,576 | -86.1% |
| Total equity and liabilities | 10/49 | €132,381 | €251,851 | +€119,469 | +90.2% |
| Equity | 10/15 | €93,284 | €157,539 | +€64,256 | +68.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €37,350 | €37,350 | = | 0.0% |
| Distributable reserves | 133 | €37,350 | €37,350 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,833 | €120,089 | +€64,256 | +115% |
| Amounts payable | 17/49 | €39,098 | €94,311 | +€55,213 | +141% |
| Amounts payable after more than one year | 17 | - | €27,747 | +€27,747 | |
| Financial debts | 170/4 | - | €27,747 | +€27,747 | |
| Amounts payable within one year | 42/48 | €35,969 | €63,435 | +€27,466 | +76.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,217 | +€7,217 | |
| Trade debts | 44 | €1,731 | €977 | -€754 | -43.6% |
| Suppliers | 440/4 | €1,731 | €977 | -€754 | -43.6% |
| Taxes, remuneration and social security | 45 | €34,238 | €55,241 | +€21,003 | +61.3% |
| Taxes | 450/3 | €31,421 | €48,506 | +€17,085 | +54.4% |
| Remuneration and social security | 454/9 | €2,817 | €6,735 | +€3,918 | +139% |
| Accrued charges and deferred income | 492/3 | €3,129 | €3,129 | = | 0.0% |
| Non-recurring operating income | 76A | - | €1,717 | +€1,717 | |
| Remuneration, social security and pensions | 62 | €20,207 | €22,576 | +€2,369 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,510 | €32,060 | -€450 | -1.4% |
| Other operating charges | 640/8 | €1,491 | €1,842 | +€351 | +23.5% |
| Gross operating margin | 9900 | €128,993 | €154,198 | +€25,205 | +19.5% |
| Operating profit (loss) | 9901 | €74,785 | €97,721 | +€22,936 | +30.7% |
| Financial charges | 65/66B | €3,270 | €901 | -€2,368 | -72.4% |
| Recurring financial charges | 65 | €3,270 | €901 | -€2,368 | -72.4% |
| Profit (loss) for the period before taxes | 9903 | €71,515 | €96,819 | +€25,304 | +35.4% |
| Income taxes | 67/77 | €15,682 | €32,564 | +€16,881 | +108% |
| Profit (loss) for the period | 9904 | €55,833 | €64,256 | +€8,423 | +15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,833 | €64,256 | +€8,423 | +15.1% |
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 29 October 2026 via checked.be.