Dr. MARIJKE ROMBOUTS: 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. MARIJKE ROMBOUTS
Largest movements
- Tangible fixed assets -€18,980
down €18,980 (-5.4%), from €348,842 to €329,862
of which Land and buildings: -€17,900
- Cash +€12,023
up €12,023 (+26.0%), from €46,253 to €58,276
mainly Net result for the year (+€146,583) and Other debts (+€146,583)
- Deferred charges and accrued income -€7,211
down €7,211 (-61.7%), from €11,689 to €4,478
- Receivables within one year +€4,718
new in 2025: €4,718
- Other debts +€146,583
new in 2025: €146,583
- Reserves -€126,944
down €126,944 (-98.6%), from €128,804 to €1,860
of which Distributable reserves: -€126,944
- Debts after one year -€21,502
down €21,502 (-12.3%), from €174,713 to €153,211
- Tax, wage and social debts -€9,360
no longer reported in 2025 (was €9,360)
- Gross operating margin +€27,243
up €27,243 (+14.2%), from €191,768 to €219,011
- Taxes +€6,422
up €6,422 (+17.2%), from €37,360 to €43,782
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 | €406,784 | €397,335 | -€9,450 | -2.3% |
| Fixed assets | 21/28 | €348,842 | €329,862 | -€18,980 | -5.4% |
| Tangible fixed assets | 22/27 | €348,842 | €329,862 | -€18,980 | -5.4% |
| Land and buildings | 22 | €341,530 | €323,630 | -€17,900 | -5.2% |
| Plant, machinery and equipment | 23 | €492 | €1,101 | +€609 | +124% |
| Furniture and vehicles | 24 | €6,820 | €5,131 | -€1,690 | -24.8% |
| Current assets | 29/58 | €57,942 | €67,473 | +€9,531 | +16.4% |
| Amounts receivable within one year | 40/41 | - | €4,718 | +€4,718 | |
| Other amounts receivable | 41 | - | €4,718 | +€4,718 | |
| Cash at bank and in hand | 54/58 | €46,253 | €58,276 | +€12,023 | +26.0% |
| Deferred charges and accrued income | 490/1 | €11,689 | €4,478 | -€7,211 | -61.7% |
| Total equity and liabilities | 10/49 | €406,784 | €397,335 | -€9,450 | -2.3% |
| Equity | 10/15 | €147,404 | €20,460 | -€126,944 | -86.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €128,804 | €1,860 | -€126,944 | -98.6% |
| 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 | €126,944 | - | -€126,944 | |
| Provisions and deferred taxes | 16 | €52,293 | €52,749 | +€456 | +0.9% |
| Provisions for liabilities and charges | 160/5 | €52,293 | €52,749 | +€456 | +0.9% |
| Environmental obligations | 163 | €52,293 | €52,749 | +€456 | +0.9% |
| Amounts payable | 17/49 | €207,087 | €324,125 | +€117,039 | +56.5% |
| Amounts payable after more than one year | 17 | €174,713 | €153,211 | -€21,502 | -12.3% |
| Financial debts | 170/4 | €174,713 | €153,211 | -€21,502 | -12.3% |
| Amounts payable within one year | 42/48 | €32,373 | €167,550 | +€135,176 | +418% |
| Current portion of amounts payable after more than one year | 42 | €16,053 | €16,284 | +€231 | +1.4% |
| Trade debts | 44 | €6,961 | €4,683 | -€2,278 | -32.7% |
| Suppliers | 440/4 | €6,961 | €4,683 | -€2,278 | -32.7% |
| Taxes, remuneration and social security | 45 | €9,360 | - | -€9,360 | |
| Taxes | 450/3 | €9,360 | - | -€9,360 | |
| Other amounts payable | 47/48 | - | €146,583 | +€146,583 | |
| Accrued charges and deferred income | 492/3 | - | €3,364 | +€3,364 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,098 | €20,259 | +€1,161 | +6.1% |
| Other operating charges | 640/8 | €1,870 | €1,928 | +€58 | +3.1% |
| Non-recurring operating charges | 66A | €30 | €32 | +€2 | +5.6% |
| Gross operating margin | 9900 | €191,768 | €219,011 | +€27,243 | +14.2% |
| Operating profit (loss) | 9901 | €170,770 | €196,792 | +€26,022 | +15.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +55.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +55.0% |
| Financial charges | 65/66B | €6,466 | €6,428 | -€38 | -0.6% |
| Recurring financial charges | 65 | €6,466 | €6,428 | -€38 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €164,304 | €190,365 | +€26,060 | +15.9% |
| Income taxes | 67/77 | €37,360 | €43,782 | +€6,422 | +17.2% |
| Profit (loss) for the period | 9904 | €126,944 | €146,583 | +€19,639 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €126,944 | €146,583 | +€19,639 | +15.5% |
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 25 October 2026 via checked.be.