Dr. Mieke Kerremans: what changed
What changed
Dr. Mieke Kerremans
filed annual accounts (NBB)
Net result for the year
€247,127
2024 · €224,294+€22,833
Equity
€20,460
2024 · €245,378-€224,918
Cash
€16,647
2024 · €51,037-€34,390
Balance sheet total
€538,843
2024 · €581,552-€42,709
Largest movements
Assets
- Cash -€34,390
down €34,390 (-67.4%), from €51,037 to €16,647
mainly Contributions, distributions and other (-€472,045) and Debts after one year (-€91,376)
Equity and liabilities
- Other debts +€239,314
up €239,314 (+321%), from €74,581 to €313,895
- Reserves -€224,918
down €224,918 (-99.2%), from €226,778 to €1,860
of which Distributable reserves: -€224,918
- Debts after one year -€91,376
down €91,376 (-63.0%), from €145,136 to €53,760
- Tax, wage and social debts +€42,819
up €42,819 (+575%), from €7,444 to €50,264
- Current portion of long-term debt -€7,292
down €7,292 (-6.9%), from €106,239 to €98,947
Income statement
- Gross operating margin +€35,368
up €35,368 (+9.7%), from €366,248 to €401,617
- Taxes +€7,390
up €7,390 (+10.0%), from €74,005 to €81,395
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.
Result 2024
€224,294
Gross operating margin
+€35,368
Depreciation
-€2,469
Other operating charges
-€2,172
Financial income
-€23
Financial charges
-€481
Taxes
-€7,390
Result 2025
€247,127
raises the resultlowers the result
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.
From operations
+€590,955
Investment
-€54,631
Financing
-€570,714
Cash 2024
€51,037
From operations (derived)
+€590,955
Net result for the year
+€247,127
Depreciation
+€58,518
Receivables within one year
+€4,433
Smaller working-capital items
-€1,255
Tax, wage and social debts
+€42,819
Other debts
+€239,314
Investment (derived)
-€54,631
Investment in fixed assets (net)
-€54,631
Financing
-€570,714
Debts after one year
-€91,376
Current portion of long-term debt
-€7,292
Contributions, distributions and other
-€472,045
Cash 2025
€16,647
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €581,552 | €538,843 | -€42,709 | -7.3% |
| Fixed assets | 21/28 | €501,482 | €497,595 | -€3,887 | -0.8% |
| Tangible fixed assets | 22/27 | €501,482 | €497,595 | -€3,887 | -0.8% |
| Land and buildings | 22 | €440,700 | €416,415 | -€24,285 | -5.5% |
| Plant, machinery and equipment | 23 | €17,161 | €13,007 | -€4,154 | -24.2% |
| Furniture and vehicles | 24 | €43,621 | €35,810 | -€7,811 | -17.9% |
| Other tangible fixed assets | 26 | - | €32,364 | +€32,364 | |
| Current assets | 29/58 | €80,070 | €41,248 | -€38,823 | -48.5% |
| Amounts receivable within one year | 40/41 | €29,033 | €24,601 | -€4,433 | -15.3% |
| Trade receivables | 40 | €28,873 | €24,601 | -€4,273 | -14.8% |
| Other amounts receivable | 41 | €160 | €0 | -€160 | -100% |
| Cash at bank and in hand | 54/58 | €51,037 | €16,647 | -€34,390 | -67.4% |
| Total equity and liabilities | 10/49 | €581,552 | €538,843 | -€42,709 | -7.3% |
| Equity | 10/15 | €245,378 | €20,460 | -€224,918 | -91.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €226,778 | €1,860 | -€224,918 | -99.2% |
| 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 | €224,918 | €0 | -€224,918 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €336,174 | €518,383 | +€182,209 | +54.2% |
| Amounts payable after more than one year | 17 | €145,136 | €53,760 | -€91,376 | -63.0% |
| Financial debts | 170/4 | €145,136 | €53,760 | -€91,376 | -63.0% |
| Amounts payable within one year | 42/48 | €190,812 | €464,481 | +€273,669 | +143% |
| Current portion of amounts payable after more than one year | 42 | €106,239 | €98,947 | -€7,292 | -6.9% |
| Trade debts | 44 | €2,547 | €1,376 | -€1,171 | -46.0% |
| Suppliers | 440/4 | €2,547 | €1,376 | -€1,171 | -46.0% |
| Taxes, remuneration and social security | 45 | €7,444 | €50,264 | +€42,819 | +575% |
| Taxes | 450/3 | €7,444 | €50,264 | +€42,819 | +575% |
| Other amounts payable | 47/48 | €74,581 | €313,895 | +€239,314 | +321% |
| Accrued charges and deferred income | 492/3 | €226 | €142 | -€84 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,048 | €58,518 | +€2,469 | +4.4% |
| Other operating charges | 640/8 | €3,646 | €5,818 | +€2,172 | +59.6% |
| Gross operating margin | 9900 | €366,248 | €401,617 | +€35,368 | +9.7% |
| Operating profit (loss) | 9901 | €306,554 | €337,281 | +€30,727 | +10.0% |
| Financial income | 75/76B | €212 | €189 | -€23 | -10.8% |
| Recurring financial income | 75 | €212 | €189 | -€23 | -10.8% |
| Financial charges | 65/66B | €8,467 | €8,948 | +€481 | +5.7% |
| Recurring financial charges | 65 | €8,467 | €8,948 | +€481 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €298,299 | €328,522 | +€30,223 | +10.1% |
| Income taxes | 67/77 | €74,005 | €81,395 | +€7,390 | +10.0% |
| Profit (loss) for the period | 9904 | €224,294 | €247,127 | +€22,833 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €224,294 | €247,127 | +€22,833 | +10.2% |
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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 3 November 2026 via checked.be.