Dr. M. Ysebaert: what changed
Dr. M. Ysebaert
Largest movements
- Current investments +€100,105
new in 2025: €100,105
- Cash -€96,764
down €96,764 (-73.7%), from €131,208 to €34,444
mainly Current investments (-€100,105) and Contributions, distributions and other (-€78,462)
- Receivables within one year +€40,310
up €40,310 (+380%), from €10,605 to €50,916
of which Other amounts receivable: +€35,954
- Financial fixed assets -€26,010
down €26,010 (-72.2%), from €36,010 to €10,000
- Tangible fixed assets -€15,359
down €15,359 (-30.5%), from €50,337 to €34,978
- Other debts +€57,575
up €57,575 (+45.2%), from €127,450 to €185,025
- Trade debts -€25,477
down €25,477 (-90.4%), from €28,174 to €2,697
- Profit (loss) carried forward -€20,000
down €20,000 (-55.5%), from €36,048 to €16,048
- Debts after one year -€10,223
down €10,223 (-41.9%), from €24,419 to €14,197
- Gross operating margin +€9,834
up €9,834 (+12.2%), from €80,905 to €90,740
- Taxes +€2,186
up €2,186 (+16.5%), from €13,219 to €15,405
- Depreciation -€1,557
down €1,557 (-9.2%), from €16,916 to €15,359
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,338 | €235,082 | +€2,744 | +1.2% |
| Fixed assets | 21/28 | €86,347 | €44,978 | -€41,369 | -47.9% |
| Tangible fixed assets | 22/27 | €50,337 | €34,978 | -€15,359 | -30.5% |
| Furniture and vehicles | 24 | €50,337 | €34,978 | -€15,359 | -30.5% |
| Financial fixed assets | 28 | €36,010 | €10,000 | -€26,010 | -72.2% |
| Current assets | 29/58 | €145,992 | €190,104 | +€44,112 | +30.2% |
| Amounts receivable within one year | 40/41 | €10,605 | €50,916 | +€40,310 | +380% |
| Trade receivables | 40 | €3,598 | €7,954 | +€4,356 | +121% |
| Other amounts receivable | 41 | €7,007 | €42,961 | +€35,954 | +513% |
| Current investments | 50/53 | - | €100,105 | +€100,105 | |
| Cash at bank and in hand | 54/58 | €131,208 | €34,444 | -€96,764 | -73.7% |
| Deferred charges and accrued income | 490/1 | €4,178 | €4,639 | +€461 | +11.0% |
| Total equity and liabilities | 10/49 | €232,338 | €235,082 | +€2,744 | +1.2% |
| Equity | 10/15 | €41,048 | €21,048 | -€20,000 | -48.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,048 | €16,048 | -€20,000 | -55.5% |
| Amounts payable | 17/49 | €191,290 | €214,034 | +€22,744 | +11.9% |
| Amounts payable after more than one year | 17 | €24,419 | €14,197 | -€10,223 | -41.9% |
| Financial debts | 170/4 | €24,419 | €14,197 | -€10,223 | -41.9% |
| Amounts payable within one year | 42/48 | €166,871 | €199,837 | +€32,966 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €9,872 | €10,222 | +€350 | +3.5% |
| Trade debts | 44 | €28,174 | €2,697 | -€25,477 | -90.4% |
| Suppliers | 440/4 | €28,174 | €2,697 | -€25,477 | -90.4% |
| Taxes, remuneration and social security | 45 | €1,375 | €1,893 | +€518 | +37.7% |
| Taxes | 450/3 | €1,375 | €1,893 | +€518 | +37.7% |
| Other amounts payable | 47/48 | €127,450 | €185,025 | +€57,575 | +45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,916 | €15,359 | -€1,557 | -9.2% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €80,905 | €90,740 | +€9,834 | +12.2% |
| Operating profit (loss) | 9901 | €63,484 | €74,861 | +€11,377 | +17.9% |
| Financial income | 75/76B | - | €151 | +€151 | |
| Recurring financial income | 75 | - | €151 | +€151 | |
| Financial charges | 65/66B | €1,502 | €1,144 | -€358 | -23.8% |
| Recurring financial charges | 65 | €1,502 | €1,144 | -€358 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €61,982 | €73,867 | +€11,886 | +19.2% |
| Income taxes | 67/77 | €13,219 | €15,405 | +€2,186 | +16.5% |
| Profit (loss) for the period | 9904 | €48,763 | €58,462 | +€9,699 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €48,763 | €58,462 | +€9,699 | +19.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.