Dr. Pairon Anthony: 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. Pairon Anthony
Largest movements
- Current investments +€46,597
new in 2025: €46,597
- Cash +€37,889
up €37,889 (+53.7%), from €70,578 to €108,466
mainly Net result for the year (+€89,142) and Tax, wage and social debts (+€25,072)
- Deferred charges and accrued income +€34,497
new in 2025: €34,497
- Tangible fixed assets -€6,534
down €6,534 (-6.2%), from €104,819 to €98,285
of which Furniture and vehicles: -€5,373
- Reserves +€89,142
up €89,142 (+104%), from €85,782 to €174,924
- Tax, wage and social debts +€25,072
up €25,072 (+117%), from €21,365 to €46,438
- Debts after one year -€23,450
down €23,450 (-72.2%), from €32,502 to €9,052
- Other debts +€22,357
up €22,357 (+268%), from €8,329 to €30,686
- Gross operating margin +€13,587
up €13,587 (+11.7%), from €116,065 to €129,652
- Taxes +€3,707
up €3,707 (+17.4%), from €21,365 to €25,072
- Depreciation +€3,545
up €3,545 (+49.5%), from €7,169 to €10,714
- Financial charges +€3,154
up €3,154 (+240%), from €1,312 to €4,466
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 | €175,397 | €287,845 | +€112,448 | +64.1% |
| Fixed assets | 21/28 | €104,819 | €98,285 | -€6,534 | -6.2% |
| Tangible fixed assets | 22/27 | €104,819 | €98,285 | -€6,534 | -6.2% |
| Land and buildings | 22 | €1,530 | €2,234 | +€705 | +46.1% |
| Plant, machinery and equipment | 23 | €6,928 | €5,062 | -€1,866 | -26.9% |
| Furniture and vehicles | 24 | €36,862 | €31,488 | -€5,373 | -14.6% |
| Other tangible fixed assets | 26 | €59,500 | €59,500 | = | 0.0% |
| Current assets | 29/58 | €70,578 | €189,560 | +€118,982 | +169% |
| Current investments | 50/53 | - | €46,597 | +€46,597 | |
| Cash at bank and in hand | 54/58 | €70,578 | €108,466 | +€37,889 | +53.7% |
| Deferred charges and accrued income | 490/1 | - | €34,497 | +€34,497 | |
| Total equity and liabilities | 10/49 | €175,397 | €287,845 | +€112,448 | +64.1% |
| Equity | 10/15 | €86,782 | €175,924 | +€89,142 | +103% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €85,782 | €174,924 | +€89,142 | +104% |
| Distributable reserves | 133 | €85,782 | €174,924 | +€89,142 | +104% |
| Amounts payable | 17/49 | €88,615 | €111,921 | +€23,306 | +26.3% |
| Amounts payable after more than one year | 17 | €32,502 | €9,052 | -€23,450 | -72.2% |
| Financial debts | 170/4 | €32,502 | €9,052 | -€23,450 | -72.2% |
| Amounts payable within one year | 42/48 | €56,113 | €101,488 | +€45,375 | +80.9% |
| Current portion of amounts payable after more than one year | 42 | €26,309 | €23,450 | -€2,858 | -10.9% |
| Trade debts | 44 | €110 | €914 | +€804 | +732% |
| Suppliers | 440/4 | €110 | €914 | +€804 | +732% |
| Taxes, remuneration and social security | 45 | €21,365 | €46,438 | +€25,072 | +117% |
| Taxes | 450/3 | €21,365 | €46,438 | +€25,072 | +117% |
| Other amounts payable | 47/48 | €8,329 | €30,686 | +€22,357 | +268% |
| Accrued charges and deferred income | 492/3 | - | €1,381 | +€1,381 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,169 | €10,714 | +€3,545 | +49.5% |
| Other operating charges | 640/8 | €439 | €366 | -€73 | -16.7% |
| Gross operating margin | 9900 | €116,065 | €129,652 | +€13,587 | +11.7% |
| Operating profit (loss) | 9901 | €108,457 | €118,572 | +€10,115 | +9.3% |
| Financial income | 75/76B | €2 | €109 | +€107 | +5,333% |
| Recurring financial income | 75 | €2 | €109 | +€107 | +5,333% |
| Financial charges | 65/66B | €1,312 | €4,466 | +€3,154 | +240% |
| Recurring financial charges | 65 | €1,312 | €4,466 | +€3,154 | +240% |
| Profit (loss) for the period before taxes | 9903 | €107,147 | €114,215 | +€7,067 | +6.6% |
| Income taxes | 67/77 | €21,365 | €25,072 | +€3,707 | +17.4% |
| Profit (loss) for the period | 9904 | €85,782 | €89,142 | +€3,360 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €85,782 | €89,142 | +€3,360 | +3.9% |
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 16 October 2026 via checked.be.