DR. MARIA DINGEN: 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. MARIA DINGEN
Largest movements
- Current investments +€138,846
up €138,846 (+27.4%), from €506,966 to €645,813
- Cash -€57,864
down €57,864 (-41.3%), from €140,201 to €82,337
mainly Current investments (-€138,846) and Trade debts (-€48,357)
- Receivables within one year -€25,773
down €25,773 (-27.0%), from €95,396 to €69,623
of which Other amounts receivable: -€21,761
- Tangible fixed assets -€13,722
down €13,722 (-11.9%), from €115,033 to €101,311
of which Land and buildings: -€12,015
- Reserves +€111,214
up €111,214 (+19.8%), from €562,677 to €673,890
of which Distributable reserves: +€111,214
- Trade debts -€48,357
down €48,357 (-95.7%), from €50,504 to €2,147
- Debts after one year -€24,245
down €24,245 (-48.0%), from €50,486 to €26,241
- Tax, wage and social debts +€20,719
up €20,719 (+936%), from €2,213 to €22,931
of which Taxes: +€21,114
- Current portion of long-term debt -€17,452
down €17,452 (-75.2%), from €23,197 to €5,745
- Gross operating margin +€67,037
up €67,037 (+55.4%), from €120,951 to €187,988
- Taxes +€22,575
up €22,575 (+73.6%), from €30,684 to €53,259
- Other operating charges -€3,365
down €3,365 (-48.4%), from €6,957 to €3,592
- Financial charges -€3,130
down €3,130 (-49.8%), from €6,291 to €3,161
- Financial income -€2,410
down €2,410 (-17.0%), from €14,153 to €11,743
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 | €861,407 | €902,495 | +€41,088 | +4.8% |
| Fixed assets | 21/28 | €115,033 | €101,311 | -€13,722 | -11.9% |
| Tangible fixed assets | 22/27 | €115,033 | €101,311 | -€13,722 | -11.9% |
| Land and buildings | 22 | €98,334 | €86,320 | -€12,015 | -12.2% |
| Plant, machinery and equipment | 23 | €11,499 | €9,791 | -€1,707 | -14.8% |
| Furniture and vehicles | 24 | €3,250 | €3,250 | = | 0.0% |
| Other tangible fixed assets | 26 | €1,950 | €1,950 | = | 0.0% |
| Current assets | 29/58 | €746,374 | €801,184 | +€54,810 | +7.3% |
| Amounts receivable within one year | 40/41 | €95,396 | €69,623 | -€25,773 | -27.0% |
| Trade receivables | 40 | €4,012 | - | -€4,012 | |
| Other amounts receivable | 41 | €91,384 | €69,623 | -€21,761 | -23.8% |
| Current investments | 50/53 | €506,966 | €645,813 | +€138,846 | +27.4% |
| Cash at bank and in hand | 54/58 | €140,201 | €82,337 | -€57,864 | -41.3% |
| Deferred charges and accrued income | 490/1 | €3,811 | €3,412 | -€400 | -10.5% |
| Total equity and liabilities | 10/49 | €861,407 | €902,495 | +€41,088 | +4.8% |
| Equity | 10/15 | €734,217 | €845,431 | +€111,214 | +15.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €562,677 | €673,890 | +€111,214 | +19.8% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €543,927 | €655,140 | +€111,214 | +20.4% |
| Profit (loss) carried forward | 14 | €152,948 | €152,948 | = | 0.0% |
| Amounts payable | 17/49 | €127,190 | €57,064 | -€70,126 | -55.1% |
| Amounts payable after more than one year | 17 | €50,486 | €26,241 | -€24,245 | -48.0% |
| Financial debts | 170/4 | €50,486 | €26,241 | -€24,245 | -48.0% |
| Amounts payable within one year | 42/48 | €75,913 | €30,824 | -€45,090 | -59.4% |
| Current portion of amounts payable after more than one year | 42 | €23,197 | €5,745 | -€17,452 | -75.2% |
| Trade debts | 44 | €50,504 | €2,147 | -€48,357 | -95.7% |
| Suppliers | 440/4 | €50,504 | €2,147 | -€48,357 | -95.7% |
| Taxes, remuneration and social security | 45 | €2,213 | €22,931 | +€20,719 | +936% |
| Taxes | 450/3 | - | €21,114 | +€21,114 | |
| Remuneration and social security | 454/9 | €2,213 | €1,817 | -€395 | -17.9% |
| Accrued charges and deferred income | 492/3 | €791 | - | -€791 | |
| Remuneration, social security and pensions | 62 | €16,172 | €13,985 | -€2,186 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,494 | €14,521 | +€27 | +0.2% |
| Other operating charges | 640/8 | €6,957 | €3,592 | -€3,365 | -48.4% |
| Gross operating margin | 9900 | €120,951 | €187,988 | +€67,037 | +55.4% |
| Operating profit (loss) | 9901 | €83,328 | €155,890 | +€72,562 | +87.1% |
| Financial income | 75/76B | €14,153 | €11,743 | -€2,410 | -17.0% |
| Recurring financial income | 75 | €14,153 | €11,743 | -€2,410 | -17.0% |
| Financial charges | 65/66B | €6,291 | €3,161 | -€3,130 | -49.8% |
| Recurring financial charges | 65 | €6,291 | €3,161 | -€3,130 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €91,190 | €164,472 | +€73,282 | +80.4% |
| Income taxes | 67/77 | €30,684 | €53,259 | +€22,575 | +73.6% |
| Profit (loss) for the period | 9904 | €60,506 | €111,214 | +€50,707 | +83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,506 | €111,214 | +€50,707 | +83.8% |
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 20 October 2026 via checked.be.