DR. N. CLAESSENS: 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. N. CLAESSENS
Largest movements
- Current investments +€41,326
up €41,326 (+36.0%), from €114,712 to €156,038
- Cash +€37,000
up €37,000 (+28.1%), from €131,511 to €168,512
mainly Depreciation (+€48,148) and Net result for the year (+€47,169)
- Tangible fixed assets -€35,731
down €35,731 (-28.9%), from €123,642 to €87,911
- Reserves +€46,537
up €46,537 (+23.0%), from €202,640 to €249,177
- Debts after one year -€23,337
down €23,337 (-24.9%), from €93,696 to €70,359
- Tax, wage and social debts +€13,568
up €13,568 (+100%), from €13,536 to €27,104
of which Taxes: +€8,466
- Other debts +€7,247
up €7,247 (+70.9%), from €10,225 to €17,473
- Gross operating margin -€12,556
down €12,556 (-7.5%), from €168,479 to €155,923
- Financial income +€2,900
up €2,900 (+204%), from €1,420 to €4,319
- Taxes -€2,289
down €2,289 (-10.9%), from €20,909 to €18,619
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 | €371,404 | €412,510 | +€41,106 | +11.1% |
| Fixed assets | 21/28 | €123,692 | €87,961 | -€35,731 | -28.9% |
| Tangible fixed assets | 22/27 | €123,642 | €87,911 | -€35,731 | -28.9% |
| Land and buildings | 22 | €16,496 | €1,629 | -€14,867 | -90.1% |
| Plant, machinery and equipment | 23 | €47,529 | €39,914 | -€7,615 | -16.0% |
| Furniture and vehicles | 24 | €17,085 | €13,330 | -€3,755 | -22.0% |
| Other tangible fixed assets | 26 | €42,532 | €33,038 | -€9,495 | -22.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €247,712 | €324,549 | +€76,838 | +31.0% |
| Current investments | 50/53 | €114,712 | €156,038 | +€41,326 | +36.0% |
| Cash at bank and in hand | 54/58 | €131,511 | €168,512 | +€37,000 | +28.1% |
| Deferred charges and accrued income | 490/1 | €1,489 | €0 | -€1,489 | -100% |
| Total equity and liabilities | 10/49 | €371,404 | €412,510 | +€41,106 | +11.1% |
| Equity | 10/15 | €221,240 | €267,777 | +€46,537 | +21.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €202,640 | €249,177 | +€46,537 | +23.0% |
| Distributable reserves | 133 | €202,640 | €249,177 | +€46,537 | +23.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €150,163 | €144,732 | -€5,431 | -3.6% |
| Amounts payable after more than one year | 17 | €93,696 | €70,359 | -€23,337 | -24.9% |
| Financial debts | 170/4 | €93,696 | €70,359 | -€23,337 | -24.9% |
| Amounts payable within one year | 42/48 | €56,467 | €74,373 | +€17,906 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €26,734 | €23,337 | -€3,397 | -12.7% |
| Financial debts | 43 | €228 | €0 | -€228 | -100% |
| Credit institutions | 430/8 | €228 | €0 | -€228 | -100% |
| Trade debts | 44 | €5,744 | €6,460 | +€716 | +12.5% |
| Suppliers | 440/4 | €5,744 | €6,460 | +€716 | +12.5% |
| Taxes, remuneration and social security | 45 | €13,536 | €27,104 | +€13,568 | +100% |
| Taxes | 450/3 | €8,316 | €16,782 | +€8,466 | +102% |
| Remuneration and social security | 454/9 | €5,220 | €10,322 | +€5,102 | +97.7% |
| Other amounts payable | 47/48 | €10,225 | €17,473 | +€7,247 | +70.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €43,259 | €41,915 | -€1,344 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,937 | €48,148 | +€212 | +0.4% |
| Other operating charges | 640/8 | €1,307 | €1,377 | +€70 | +5.4% |
| Gross operating margin | 9900 | €168,479 | €155,923 | -€12,556 | -7.5% |
| Operating profit (loss) | 9901 | €75,976 | €64,482 | -€11,494 | -15.1% |
| Financial income | 75/76B | €1,420 | €4,319 | +€2,900 | +204% |
| Recurring financial income | 75 | €1,420 | €4,319 | +€2,900 | +204% |
| Financial charges | 65/66B | €3,620 | €3,013 | -€607 | -16.8% |
| Recurring financial charges | 65 | €3,620 | €3,013 | -€607 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €73,776 | €65,788 | -€7,988 | -10.8% |
| Income taxes | 67/77 | €20,909 | €18,619 | -€2,289 | -10.9% |
| Profit (loss) for the period | 9904 | €52,867 | €47,169 | -€5,699 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,867 | €47,169 | -€5,699 | -10.8% |
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 27 October 2026 via checked.be.