Dr. Orye Christophe: 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. Orye Christophe
Largest movements
- Cash -€56,881
down €56,881 (-45.2%), from €125,924 to €69,043
mainly Contributions, distributions and other (-€196,299) and Other debts (-€53,240)
- Current investments +€36,580
up €36,580 (+125%), from €29,148 to €65,727
- Receivables within one year -€24,665
no longer reported in 2025 (was €24,665)
- Tangible fixed assets -€11,768
down €11,768 (-32.1%), from €36,702 to €24,934
of which Furniture and vehicles: -€11,052
- Other debts -€53,240
down €53,240 (-25.4%), from €209,215 to €155,975
- Trade debts -€3,017
down €3,017 (-63.5%), from €4,752 to €1,735
- Financial income -€9,450
down €9,450 (-84.9%), from €11,132 to €1,682
- Financial charges +€8,201
up €8,201 (+18,694%), from €44 to €8,245
of which Non-recurring financial charges: +€8,070
- Gross operating margin +€5,031
up €5,031 (+1.8%), from €277,653 to €282,685
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 | €218,431 | €162,569 | -€55,862 | -25.6% |
| Fixed assets | 21/28 | €36,702 | €24,934 | -€11,768 | -32.1% |
| Tangible fixed assets | 22/27 | €36,702 | €24,934 | -€11,768 | -32.1% |
| Plant, machinery and equipment | 23 | €1,232 | €516 | -€716 | -58.1% |
| Furniture and vehicles | 24 | €35,470 | €24,418 | -€11,052 | -31.2% |
| Current assets | 29/58 | €181,729 | €137,636 | -€44,094 | -24.3% |
| Amounts receivable within one year | 40/41 | €24,665 | - | -€24,665 | |
| Other amounts receivable | 41 | €24,665 | - | -€24,665 | |
| Current investments | 50/53 | €29,148 | €65,727 | +€36,580 | +125% |
| Cash at bank and in hand | 54/58 | €125,924 | €69,043 | -€56,881 | -45.2% |
| Deferred charges and accrued income | 490/1 | €1,992 | €2,865 | +€873 | +43.8% |
| Total equity and liabilities | 10/49 | €218,431 | €162,569 | -€55,862 | -25.6% |
| Equity | 10/15 | €2,500 | €2,500 | = | 0.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Amounts payable | 17/49 | €215,931 | €160,069 | -€55,862 | -25.9% |
| Amounts payable within one year | 42/48 | €215,931 | €160,069 | -€55,862 | -25.9% |
| Trade debts | 44 | €4,752 | €1,735 | -€3,017 | -63.5% |
| Suppliers | 440/4 | €4,752 | €1,735 | -€3,017 | -63.5% |
| Taxes, remuneration and social security | 45 | €1,964 | €2,359 | +€395 | +20.1% |
| Taxes | 450/3 | €1,964 | €2,359 | +€395 | +20.1% |
| Other amounts payable | 47/48 | €209,215 | €155,975 | -€53,240 | -25.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,600 | €13,362 | -€1,237 | -8.5% |
| Other operating charges | 640/8 | €876 | €922 | +€46 | +5.3% |
| Non-recurring operating charges | 66A | - | €3,121 | +€3,121 | |
| Gross operating margin | 9900 | €277,653 | €282,685 | +€5,031 | +1.8% |
| Operating profit (loss) | 9901 | €262,178 | €265,279 | +€3,102 | +1.2% |
| Financial income | 75/76B | €11,132 | €1,682 | -€9,450 | -84.9% |
| Recurring financial income | 75 | €11,132 | €1,682 | -€9,450 | -84.9% |
| Financial charges | 65/66B | €44 | €8,245 | +€8,201 | +18,694% |
| Recurring financial charges | 65 | €44 | €175 | +€131 | +299% |
| Non-recurring financial charges | 66B | - | €8,070 | +€8,070 | |
| Profit (loss) for the period before taxes | 9903 | €273,266 | €258,717 | -€14,550 | -5.3% |
| Income taxes | 67/77 | €64,051 | €62,418 | -€1,634 | -2.6% |
| Profit (loss) for the period | 9904 | €209,215 | €196,299 | -€12,916 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €209,215 | €196,299 | -€12,916 | -6.2% |
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.