DR. P. SCHARPE: 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. P. SCHARPE
Largest movements
- Receivables within one year -€99,581
down €99,581 (-19.0%), from €522,827 to €423,246
- Cash +€97,817
up €97,817 (+27.0%), from €362,447 to €460,265
mainly Receivables within one year (+€99,581) and Net result for the year (+€2,542)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€46,882
down €46,882, from €43,269 to -€3,613
- Provisions -€2,214
new in 2025: -€2,214
- Financial charges -€1,771
down €1,771, from €656 to -€1,115
- Financial income -€1,478
down €1,478 (-18.1%), from €8,173 to €6,694
- Taxes +€1,380
up €1,380 (+264%), from €523 to €1,904
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 | €1,269,247 | €1,267,696 | -€1,552 | -0.1% |
| Fixed assets | 21/28 | €2,892 | €3,314 | +€422 | +14.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €2,892 | €3,314 | +€422 | +14.6% |
| Land and buildings | 22 | €1,656 | €2,708 | +€1,052 | +63.5% |
| Plant, machinery and equipment | 23 | €181 | €0 | -€181 | -100.0% |
| Furniture and vehicles | 24 | €1,055 | €606 | -€449 | -42.6% |
| Current assets | 29/58 | €1,266,355 | €1,264,382 | -€1,974 | -0.2% |
| Amounts receivable within one year | 40/41 | €522,827 | €423,246 | -€99,581 | -19.0% |
| Other amounts receivable | 41 | €522,827 | €423,246 | -€99,581 | -19.0% |
| Current investments | 50/53 | €380,871 | €380,871 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €362,447 | €460,265 | +€97,817 | +27.0% |
| Deferred charges and accrued income | 490/1 | €210 | - | -€210 | |
| Total equity and liabilities | 10/49 | €1,269,247 | €1,267,696 | -€1,552 | -0.1% |
| Equity | 10/15 | €1,234,554 | €1,237,095 | +€2,542 | +0.2% |
| Contributions | 10/11 | €913,779 | €913,779 | = | 0.0% |
| Reserves | 13 | €320,774 | €323,316 | +€2,542 | +0.8% |
| Distributable reserves | 133 | €320,774 | €323,316 | +€2,542 | +0.8% |
| Provisions and deferred taxes | 16 | €2,214 | - | -€2,214 | |
| Provisions for liabilities and charges | 160/5 | €2,214 | - | -€2,214 | |
| Major repairs and maintenance | 162 | €2,214 | - | -€2,214 | |
| Amounts payable | 17/49 | €32,479 | €30,600 | -€1,879 | -5.8% |
| Amounts payable within one year | 42/48 | €32,479 | €30,600 | -€1,879 | -5.8% |
| Trade debts | 44 | €55 | €0 | -€55 | -100% |
| Suppliers | 440/4 | €55 | €0 | -€55 | -100% |
| Other amounts payable | 47/48 | €32,424 | €30,600 | -€1,824 | -5.6% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,073 | €1,408 | -€665 | -32.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€2,214 | -€2,214 | |
| Other operating charges | 640/8 | €676 | €557 | -€119 | -17.6% |
| Gross operating margin | 9900 | €43,269 | -€3,613 | -€46,882 | |
| Operating profit (loss) | 9901 | €40,519 | -€3,364 | -€43,884 | |
| Financial income | 75/76B | €8,173 | €6,694 | -€1,478 | -18.1% |
| Recurring financial income | 75 | €8,173 | €6,694 | -€1,478 | -18.1% |
| Financial charges | 65/66B | €656 | -€1,115 | -€1,771 | |
| Recurring financial charges | 65 | €656 | -€1,115 | -€1,771 | |
| Profit (loss) for the period before taxes | 9903 | €48,036 | €4,445 | -€43,590 | -90.7% |
| Income taxes | 67/77 | €523 | €1,904 | +€1,380 | +264% |
| Profit (loss) for the period | 9904 | €47,512 | €2,542 | -€44,971 | -94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,512 | €2,542 | -€44,971 | -94.7% |
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 24 October 2026 via checked.be.