Dr. Nicholas Van Bruaene: what changed
What changed
Dr. Nicholas Van Bruaene
filed annual accounts (NBB)
Net result for the year
€151,451
2024 · €168,510-€17,059
Equity
€723,322
2024 · €657,839+€65,483
Cash
€424,323
2024 · €281,864+€142,459
Balance sheet total
€814,544
2024 · €755,208+€59,336
Largest movements
Assets
- Cash +€142,459
up €142,459 (+50.5%), from €281,864 to €424,323
mainly Net result for the year (+€151,451) and Current investments (+€85,000)
- Current investments -€85,000
down €85,000 (-18.2%), from €467,000 to €382,000
Equity and liabilities
- Reserves +€65,483
up €65,483 (+10.3%), from €637,434 to €702,917
- Tax, wage and social debts -€20,760
down €20,760 (-74.0%), from €28,058 to €7,298
of which Taxes: -€20,760
- Other debts +€15,170
up €15,170 (+22.8%), from €66,500 to €81,670
Income statement
- Gross operating margin -€34,673
down €34,673 (-14.3%), from €243,004 to €208,331
- Taxes -€14,044
down €14,044 (-18.6%), from €75,558 to €61,514
- Financial income +€3,483
up €3,483 (+113%), from €3,080 to €6,563
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
€168,510
Gross operating margin
-€34,673
Depreciation
+€403
Other operating charges
-€349
Financial income
+€3,483
Financial charges
+€33
Taxes
+€14,044
Result 2025
€151,451
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
+€143,427
Investment
+€85,000
Financing
-€85,968
Cash 2024
€281,864
From operations (derived)
+€143,427
Net result for the year
+€151,451
Depreciation
+€1,073
Receivables within one year
+€2,009
Deferred charges and accrued income
-€4,959
Trade debts
-€557
Tax, wage and social debts
-€20,760
Other debts
+€15,170
Investment (derived)
+€85,000
Current investments
+€85,000
Financing
-€85,968
Contributions, distributions and other
-€85,968
Cash 2025
€424,323
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €755,208 | €814,544 | +€59,336 | +7.9% |
| Fixed assets | 21/28 | €2,358 | €1,286 | -€1,073 | -45.5% |
| Tangible fixed assets | 22/27 | €2,358 | €1,286 | -€1,073 | -45.5% |
| Plant, machinery and equipment | 23 | €1,473 | €662 | -€811 | -55.0% |
| Furniture and vehicles | 24 | €885 | €623 | -€262 | -29.6% |
| Current assets | 29/58 | €752,850 | €813,258 | +€60,409 | +8.0% |
| Amounts receivable within one year | 40/41 | €3,623 | €1,614 | -€2,009 | -55.5% |
| Trade receivables | 40 | €3,623 | €0 | -€3,623 | -100% |
| Other amounts receivable | 41 | - | €1,614 | +€1,614 | |
| Current investments | 50/53 | €467,000 | €382,000 | -€85,000 | -18.2% |
| Cash at bank and in hand | 54/58 | €281,864 | €424,323 | +€142,459 | +50.5% |
| Deferred charges and accrued income | 490/1 | €363 | €5,322 | +€4,959 | +1,367% |
| Total equity and liabilities | 10/49 | €755,208 | €814,544 | +€59,336 | +7.9% |
| Equity | 10/15 | €657,839 | €723,322 | +€65,483 | +10.0% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €637,434 | €702,917 | +€65,483 | +10.3% |
| Distributable reserves | 133 | €637,434 | €702,917 | +€65,483 | +10.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €97,369 | €91,222 | -€6,147 | -6.3% |
| Amounts payable within one year | 42/48 | €97,369 | €91,222 | -€6,147 | -6.3% |
| Trade debts | 44 | €2,810 | €2,254 | -€557 | -19.8% |
| Suppliers | 440/4 | €2,810 | €2,254 | -€557 | -19.8% |
| Taxes, remuneration and social security | 45 | €28,058 | €7,298 | -€20,760 | -74.0% |
| Taxes | 450/3 | €25,058 | €4,298 | -€20,760 | -82.8% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €66,500 | €81,670 | +€15,170 | +22.8% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,476 | €1,073 | -€403 | -27.3% |
| Other operating charges | 640/8 | €436 | €785 | +€349 | +80.1% |
| Gross operating margin | 9900 | €243,004 | €208,331 | -€34,673 | -14.3% |
| Operating profit (loss) | 9901 | €241,092 | €206,472 | -€34,619 | -14.4% |
| Financial income | 75/76B | €3,080 | €6,563 | +€3,483 | +113% |
| Recurring financial income | 75 | €3,080 | €6,563 | +€3,483 | +113% |
| Financial charges | 65/66B | €103 | €70 | -€33 | -32.2% |
| Recurring financial charges | 65 | €103 | €70 | -€33 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | €244,068 | €212,965 | -€31,103 | -12.7% |
| Income taxes | 67/77 | €75,558 | €61,514 | -€14,044 | -18.6% |
| Profit (loss) for the period | 9904 | €168,510 | €151,451 | -€17,059 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €168,510 | €151,451 | -€17,059 | -10.1% |
Next steps
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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 2 November 2026 via checked.be.