Dr. Pascal Franck: 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. Pascal Franck
Largest movements
- Cash +€153,880
up €153,880 (+99.0%), from €155,366 to €309,246
mainly Net result for the year (+€179,370) and Other debts (+€99,631)
- Current investments +€61,059
up €61,059 (+7.2%), from €844,997 to €906,055
- Deferred charges and accrued income -€35,200
no longer reported in 2025 (was €35,200)
- Other debts +€99,631
up €99,631 (+49.9%), from €199,572 to €299,203
- Reserves +€42,785
up €42,785 (+5.0%), from €847,321 to €890,106
- Tax, wage and social debts +€17,801
up €17,801 (+70.4%), from €25,273 to €43,075
of which Taxes: +€17,747
- Gross operating margin +€56,190
up €56,190 (+25.1%), from €223,439 to €279,629
- Taxes +€15,945
up €15,945 (+25.0%), from €63,703 to €79,647
- Financial charges +€8,889
up €8,889 (+77.6%), from €11,457 to €20,346
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.
Cash bridge derived
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 | €1,086,664 | €1,253,311 | +€166,647 | +15.3% |
| Fixed assets | 21/28 | €50,237 | €38,009 | -€12,228 | -24.3% |
| Tangible fixed assets | 22/27 | €50,237 | €38,009 | -€12,228 | -24.3% |
| Plant, machinery and equipment | 23 | €828 | €1,680 | +€852 | +102.8% |
| Furniture and vehicles | 24 | €49,409 | €36,329 | -€13,080 | -26.5% |
| Current assets | 29/58 | €1,036,427 | €1,215,302 | +€178,875 | +17.3% |
| Amounts receivable within one year | 40/41 | €864 | - | -€864 | |
| Other amounts receivable | 41 | €864 | - | -€864 | |
| Current investments | 50/53 | €844,997 | €906,055 | +€61,059 | +7.2% |
| Cash at bank and in hand | 54/58 | €155,366 | €309,246 | +€153,880 | +99.0% |
| Deferred charges and accrued income | 490/1 | €35,200 | - | -€35,200 | |
| Total equity and liabilities | 10/49 | €1,086,664 | €1,253,311 | +€166,647 | +15.3% |
| Equity | 10/15 | €847,321 | €890,106 | +€42,785 | +5.0% |
| Reserves | 13 | €847,321 | €890,106 | +€42,785 | +5.0% |
| Distributable reserves | 133 | €847,321 | €890,106 | +€42,785 | +5.0% |
| Amounts payable | 17/49 | €239,343 | €363,204 | +€123,861 | +51.8% |
| Amounts payable within one year | 42/48 | €229,474 | €347,025 | +€117,550 | +51.2% |
| Trade debts | 44 | €4,629 | €4,747 | +€118 | +2.5% |
| Suppliers | 440/4 | €4,629 | €4,747 | +€118 | +2.5% |
| Taxes, remuneration and social security | 45 | €25,273 | €43,075 | +€17,801 | +70.4% |
| Taxes | 450/3 | €17,809 | €35,557 | +€17,747 | +99.6% |
| Remuneration and social security | 454/9 | €7,464 | €7,518 | +€54 | +0.7% |
| Other amounts payable | 47/48 | €199,572 | €299,203 | +€99,631 | +49.9% |
| Accrued charges and deferred income | 492/3 | €9,868 | €16,180 | +€6,311 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,544 | €13,664 | +€121 | +0.9% |
| Other operating charges | 640/8 | €631 | €141 | -€490 | -77.7% |
| Gross operating margin | 9900 | €223,439 | €279,629 | +€56,190 | +25.1% |
| Operating profit (loss) | 9901 | €209,265 | €265,824 | +€56,560 | +27.0% |
| Financial income | 75/76B | €11,557 | €13,539 | +€1,982 | +17.2% |
| Recurring financial income | 75 | €11,557 | €13,539 | +€1,982 | +17.2% |
| Financial charges | 65/66B | €11,457 | €20,346 | +€8,889 | +77.6% |
| Recurring financial charges | 65 | €11,457 | €20,346 | +€8,889 | +77.6% |
| Profit (loss) for the period before taxes | 9903 | €209,364 | €259,017 | +€49,653 | +23.7% |
| Income taxes | 67/77 | €63,703 | €79,647 | +€15,945 | +25.0% |
| Profit (loss) for the period | 9904 | €145,661 | €179,370 | +€33,709 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €145,661 | €179,370 | +€33,709 | +23.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.