DR. M. SORBER: 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. SORBER
Largest movements
- Cash +€133,129
up €133,129 (+132%), from €100,820 to €233,949
mainly Net result for the year (+€159,211) and Depreciation (+€41,243)
- Tangible fixed assets -€27,806
down €27,806 (-10.9%), from €256,006 to €228,200
of which Land and buildings: -€33,840
- Receivables within one year +€13,514
up €13,514 (+434%), from €3,114 to €16,628
- Reserves +€159,211
up €159,211 (+55.7%), from €285,858 to €445,069
of which Distributable reserves: +€159,211
- Other debts -€38,373
no longer reported in 2025 (was €38,373)
- Current portion of long-term debt -€18,239
down €18,239 (-92.7%), from €19,667 to €1,428
- Tax, wage and social debts +€13,584
up €13,584 (+147%), from €9,257 to €22,841
- Gross operating margin +€51,187
up €51,187 (+23.2%), from €220,709 to €271,896
- Turnover +€46,019
up €46,019 (+13.0%), from €353,967 to €399,986
- Taxes +€21,133
up €21,133 (+45.0%), from €46,934 to €68,067
- Staff costs -€17,023
no longer reported in 2025 (was €17,023)
- Purchases and services -€4,769
down €4,769 (-3.4%), from €139,136 to €134,367
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 | €367,155 | €481,837 | +€114,682 | +31.2% |
| Fixed assets | 21/28 | €257,746 | €229,940 | -€27,806 | -10.8% |
| Tangible fixed assets | 22/27 | €256,006 | €228,200 | -€27,806 | -10.9% |
| Land and buildings | 22 | €225,238 | €191,398 | -€33,840 | -15.0% |
| Plant, machinery and equipment | 23 | €28,567 | €25,220 | -€3,347 | -11.7% |
| Furniture and vehicles | 24 | €2,201 | €6,931 | +€4,730 | +215% |
| Other tangible fixed assets | 26 | - | €4,651 | +€4,651 | |
| Financial fixed assets | 28 | €1,740 | €1,740 | = | 0.0% |
| Current assets | 29/58 | €109,409 | €251,897 | +€142,488 | +130% |
| Amounts receivable within one year | 40/41 | €3,114 | €16,628 | +€13,514 | +434% |
| Other amounts receivable | 41 | €3,114 | €16,628 | +€13,514 | +434% |
| Cash at bank and in hand | 54/58 | €100,820 | €233,949 | +€133,129 | +132% |
| Deferred charges and accrued income | 490/1 | €5,475 | €1,320 | -€4,155 | -75.9% |
| Total equity and liabilities | 10/49 | €367,155 | €481,837 | +€114,682 | +31.2% |
| Equity | 10/15 | €298,258 | €457,469 | +€159,211 | +53.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €285,858 | €445,069 | +€159,211 | +55.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €283,998 | €443,209 | +€159,211 | +56.1% |
| Amounts payable | 17/49 | €68,897 | €24,368 | -€44,529 | -64.6% |
| Amounts payable within one year | 42/48 | €67,297 | €24,368 | -€42,929 | -63.8% |
| Current portion of amounts payable after more than one year | 42 | €19,667 | €1,428 | -€18,239 | -92.7% |
| Trade debts | 44 | - | €99 | +€99 | |
| Suppliers | 440/4 | - | €99 | +€99 | |
| Taxes, remuneration and social security | 45 | €9,257 | €22,841 | +€13,584 | +147% |
| Taxes | 450/3 | €9,257 | €22,841 | +€13,584 | +147% |
| Other amounts payable | 47/48 | €38,373 | - | -€38,373 | |
| Accrued charges and deferred income | 492/3 | €1,600 | - | -€1,600 | |
| Turnover | 70 | €353,967 | €399,986 | +€46,019 | +13.0% |
| Non-recurring operating income | 76A | €185 | €757 | +€572 | +309% |
| Goods, raw materials, services and sundry goods | 60/61 | €139,136 | €134,367 | -€4,769 | -3.4% |
| Remuneration, social security and pensions | 62 | €17,023 | - | -€17,023 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,532 | €41,243 | +€1,711 | +4.3% |
| Other operating charges | 640/8 | €2,516 | €3,593 | +€1,077 | +42.8% |
| Gross operating margin | 9900 | €220,709 | €271,896 | +€51,187 | +23.2% |
| Operating profit (loss) | 9901 | €161,638 | €227,060 | +€65,422 | +40.5% |
| Financial income | 75/76B | €50 | €510 | +€460 | +920% |
| Recurring financial income | 75 | €50 | €510 | +€460 | +920% |
| Financial charges | 65/66B | €2,060 | €292 | -€1,768 | -85.8% |
| Recurring financial charges | 65 | €2,060 | €292 | -€1,768 | -85.8% |
| Profit (loss) for the period before taxes | 9903 | €159,628 | €227,278 | +€67,650 | +42.4% |
| Income taxes | 67/77 | €46,934 | €68,067 | +€21,133 | +45.0% |
| Profit (loss) for the period | 9904 | €112,694 | €159,211 | +€46,517 | +41.3% |
| Profit (loss) for the period to be appropriated | 9905 | €112,694 | €159,211 | +€46,517 | +41.3% |
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.