Dr. Neetens: 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. Neetens
Largest movements
- Tangible fixed assets +€67,269
new in 2025: €67,269
- Receivables within one year -€37,380
down €37,380 (-93.4%), from €40,017 to €2,637
of which Other amounts receivable: -€40,017
- Cash -€13,531
down €13,531 (-9.5%), from €142,778 to €129,247
mainly Investment in fixed assets (net) (-€67,749) and Other debts (-€52,481)
- Deferred charges and accrued income -€7,753
down €7,753 (-84.9%), from €9,132 to €1,379
- Other debts -€52,481
down €52,481 (-85.5%), from €61,375 to €8,894
- Reserves +€50,201
up €50,201 (+40.0%), from €125,431 to €175,632
- Tax, wage and social debts +€7,785
new in 2025: €7,785
- Trade debts +€3,099
up €3,099 (+2,559%), from €121 to €3,220
- Taxes +€23,675
up €23,675 (+197%), from €12,026 to €35,701
- Gross operating margin +€21,152
up €21,152 (+31.5%), from €67,207 to €88,359
- Financial charges -€1,106
down €1,106 (-90.4%), from €1,223 to €118
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 | €191,927 | €200,531 | +€8,604 | +4.5% |
| Fixed assets | 21/28 | - | €67,269 | +€67,269 | |
| Tangible fixed assets | 22/27 | - | €67,269 | +€67,269 | |
| Furniture and vehicles | 24 | - | €67,269 | +€67,269 | |
| Current assets | 29/58 | €191,927 | €133,262 | -€58,665 | -30.6% |
| Amounts receivable within one year | 40/41 | €40,017 | €2,637 | -€37,380 | -93.4% |
| Trade receivables | 40 | - | €2,637 | +€2,637 | |
| Other amounts receivable | 41 | €40,017 | - | -€40,017 | |
| Cash at bank and in hand | 54/58 | €142,778 | €129,247 | -€13,531 | -9.5% |
| Deferred charges and accrued income | 490/1 | €9,132 | €1,379 | -€7,753 | -84.9% |
| Total equity and liabilities | 10/49 | €191,927 | €200,531 | +€8,604 | +4.5% |
| Equity | 10/15 | €130,431 | €180,632 | +€50,201 | +38.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €125,431 | €175,632 | +€50,201 | +40.0% |
| Distributable reserves | 133 | €125,431 | €175,632 | +€50,201 | +40.0% |
| Amounts payable | 17/49 | €61,496 | €19,899 | -€41,597 | -67.6% |
| Amounts payable within one year | 42/48 | €61,496 | €19,899 | -€41,597 | -67.6% |
| Trade debts | 44 | €121 | €3,220 | +€3,099 | +2,559% |
| Suppliers | 440/4 | €121 | €3,220 | +€3,099 | +2,559% |
| Taxes, remuneration and social security | 45 | - | €7,785 | +€7,785 | |
| Taxes | 450/3 | - | €7,785 | +€7,785 | |
| Other amounts payable | 47/48 | €61,375 | €8,894 | -€52,481 | -85.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €799 | €480 | -€319 | -39.9% |
| Other operating charges | 640/8 | €1,877 | €1,859 | -€18 | -0.9% |
| Gross operating margin | 9900 | €67,207 | €88,359 | +€21,152 | +31.5% |
| Operating profit (loss) | 9901 | €64,531 | €86,020 | +€21,489 | +33.3% |
| Financial charges | 65/66B | €1,223 | €118 | -€1,106 | -90.4% |
| Recurring financial charges | 65 | €1,223 | €118 | -€1,106 | -90.4% |
| Profit (loss) for the period before taxes | 9903 | €63,308 | €85,902 | +€22,594 | +35.7% |
| Income taxes | 67/77 | €12,026 | €35,701 | +€23,675 | +197% |
| Profit (loss) for the period | 9904 | €51,282 | €50,201 | -€1,081 | -2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,282 | €50,201 | -€1,081 | -2.1% |
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 17 October 2026 via checked.be.