Dr. P. Vanneste: what changed
Dr. P. Vanneste
Largest movements
- Cash +€16,634
up €16,634 (+25.7%), from €64,777 to €81,410
mainly Net result for the year (+€88,507) and Other debts (+€20,424)
- Tangible fixed assets -€10,837
down €10,837 (-25.6%), from €42,324 to €31,487
of which Furniture and vehicles: -€10,098
- Other debts +€20,424
new in 2025: €20,424
- Tax, wage and social debts -€12,591
down €12,591 (-36.2%), from €34,823 to €22,233
- Debts after one year -€6,605
no longer reported in 2025 (was €6,605)
- Trade debts +€4,436
up €4,436 (+773%), from €574 to €5,010
- Depreciation -€5,240
down €5,240 (-59.7%), from €8,784 to €3,544
- Gross operating margin +€3,242
up €3,242 (+2.5%), from €128,436 to €131,678
- Financial charges +€2,367
up €2,367 (+887%), from €267 to €2,634
of which Non-recurring financial charges: +€2,393
- Financial income -€2,330
down €2,330 (-97.6%), from €2,387 to €57
- Other operating charges +€1,973
up €1,973 (+176%), from €1,121 to €3,094
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €109,183 | €115,061 | +€5,878 | +5.4% |
| Formation expenses | 20 | €101 | - | -€101 | |
| Fixed assets | 21/28 | €42,324 | €31,487 | -€10,837 | -25.6% |
| Tangible fixed assets | 22/27 | €42,324 | €31,487 | -€10,837 | -25.6% |
| Land and buildings | 22 | €11,533 | €11,176 | -€357 | -3.1% |
| Plant, machinery and equipment | 23 | €945 | €564 | -€381 | -40.3% |
| Furniture and vehicles | 24 | €29,846 | €19,747 | -€10,098 | -33.8% |
| Current assets | 29/58 | €66,758 | €83,574 | +€16,816 | +25.2% |
| Amounts receivable within one year | 40/41 | €1,078 | €228 | -€850 | -78.9% |
| Trade receivables | 40 | €1,078 | €228 | -€850 | -78.9% |
| Cash at bank and in hand | 54/58 | €64,777 | €81,410 | +€16,634 | +25.7% |
| Deferred charges and accrued income | 490/1 | €903 | €1,936 | +€1,033 | +114% |
| Total equity and liabilities | 10/49 | €109,183 | €115,061 | +€5,878 | +5.4% |
| Equity | 10/15 | €67,057 | €67,057 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €65,057 | €65,057 | = | 0.0% |
| Distributable reserves | 133 | €65,057 | €65,057 | = | 0.0% |
| Amounts payable | 17/49 | €42,126 | €48,004 | +€5,878 | +14.0% |
| Amounts payable after more than one year | 17 | €6,605 | - | -€6,605 | |
| Other amounts payable | 178/9 | €6,605 | - | -€6,605 | |
| Amounts payable within one year | 42/48 | €35,504 | €47,987 | +€12,483 | +35.2% |
| Financial debts | 43 | €107 | €321 | +€214 | +200% |
| Credit institutions | 430/8 | €107 | €321 | +€214 | +200% |
| Trade debts | 44 | €574 | €5,010 | +€4,436 | +773% |
| Suppliers | 440/4 | €574 | €5,010 | +€4,436 | +773% |
| Taxes, remuneration and social security | 45 | €34,823 | €22,233 | -€12,591 | -36.2% |
| Taxes | 450/3 | €34,823 | €22,233 | -€12,591 | -36.2% |
| Other amounts payable | 47/48 | - | €20,424 | +€20,424 | |
| Accrued charges and deferred income | 492/3 | €17 | €17 | = | 0.0% |
| Non-recurring operating income | 76A | €384 | - | -€384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,784 | €3,544 | -€5,240 | -59.7% |
| Other operating charges | 640/8 | €1,121 | €3,094 | +€1,973 | +176% |
| Gross operating margin | 9900 | €128,436 | €131,678 | +€3,242 | +2.5% |
| Operating profit (loss) | 9901 | €118,530 | €125,040 | +€6,509 | +5.5% |
| Financial income | 75/76B | €2,387 | €57 | -€2,330 | -97.6% |
| Recurring financial income | 75 | €2,387 | €57 | -€2,330 | -97.6% |
| Financial charges | 65/66B | €267 | €2,634 | +€2,367 | +887% |
| Recurring financial charges | 65 | €267 | €240 | -€27 | -9.9% |
| Non-recurring financial charges | 66B | - | €2,393 | +€2,393 | |
| Profit (loss) for the period before taxes | 9903 | €120,651 | €122,463 | +€1,812 | +1.5% |
| Income taxes | 67/77 | €32,197 | €33,957 | +€1,759 | +5.5% |
| Profit (loss) for the period | 9904 | €88,453 | €88,507 | +€53 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,453 | €88,507 | +€53 | +0.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.