Dr. Patrick Braeckman: 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. Patrick Braeckman
Largest movements
- Cash +€10,982
up €10,982 (+8.0%), from €137,933 to €148,915
mainly Net result for the year (+€156,627) and Other debts (+€24,008)
- Tangible fixed assets -€8,186
down €8,186 (-20.6%), from €39,694 to €31,509
of which Furniture and vehicles: -€10,539
- Other debts +€24,008
up €24,008 (+18.2%), from €131,789 to €155,798
- Debts after one year -€10,895
down €10,895 (-37.4%), from €29,092 to €18,197
- Reserves -€6,639
down €6,639 (-100%), from €6,639 to €0
of which Distributable reserves: -€4,779
- Gross operating margin +€33,821
up €33,821 (+18.1%), from €187,069 to €220,890
- Taxes +€7,760
up €7,760 (+19.8%), from €39,227 to €46,987
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 | €198,083 | €202,650 | +€4,566 | +2.3% |
| Fixed assets | 21/28 | €39,694 | €31,509 | -€8,186 | -20.6% |
| Tangible fixed assets | 22/27 | €39,694 | €31,509 | -€8,186 | -20.6% |
| Plant, machinery and equipment | 23 | - | €2,354 | +€2,354 | |
| Furniture and vehicles | 24 | €39,694 | €29,155 | -€10,539 | -26.6% |
| Current assets | 29/58 | €158,389 | €171,141 | +€12,752 | +8.1% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €137,933 | €148,915 | +€10,982 | +8.0% |
| Deferred charges and accrued income | 490/1 | €20,456 | €22,225 | +€1,769 | +8.7% |
| Total equity and liabilities | 10/49 | €198,083 | €202,650 | +€4,566 | +2.3% |
| Equity | 10/15 | €19,039 | €12,400 | -€6,639 | -34.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €6,639 | €0 | -€6,639 | -100% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €4,779 | €0 | -€4,779 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €179,044 | €190,250 | +€11,205 | +6.3% |
| Amounts payable after more than one year | 17 | €29,092 | €18,197 | -€10,895 | -37.4% |
| Financial debts | 170/4 | €29,092 | €18,197 | -€10,895 | -37.4% |
| Amounts payable within one year | 42/48 | €147,708 | €171,370 | +€23,662 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €10,454 | €10,895 | +€441 | +4.2% |
| Trade debts | 44 | €1,237 | €2,390 | +€1,153 | +93.2% |
| Suppliers | 440/4 | €1,237 | €2,390 | +€1,153 | +93.2% |
| Taxes, remuneration and social security | 45 | €4,227 | €2,287 | -€1,940 | -45.9% |
| Taxes | 450/3 | €4,227 | €2,287 | -€1,940 | -45.9% |
| Other amounts payable | 47/48 | €131,789 | €155,798 | +€24,008 | +18.2% |
| Accrued charges and deferred income | 492/3 | €2,244 | €683 | -€1,562 | -69.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,094 | €12,337 | +€243 | +2.0% |
| Other operating charges | 640/8 | €1,092 | €802 | -€291 | -26.6% |
| Non-recurring operating charges | 66A | €0 | €3,100 | +€3,100 | |
| Gross operating margin | 9900 | €187,069 | €220,890 | +€33,821 | +18.1% |
| Operating profit (loss) | 9901 | €173,882 | €204,652 | +€30,769 | +17.7% |
| Financial income | 75/76B | €208 | €455 | +€247 | +119% |
| Recurring financial income | 75 | €208 | €455 | +€247 | +119% |
| Financial charges | 65/66B | €1,916 | €1,493 | -€423 | -22.1% |
| Recurring financial charges | 65 | €1,916 | €1,493 | -€423 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €172,175 | €203,614 | +€31,439 | +18.3% |
| Income taxes | 67/77 | €39,227 | €46,987 | +€7,760 | +19.8% |
| Profit (loss) for the period | 9904 | €132,948 | €156,627 | +€23,680 | +17.8% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €132,948 | €156,627 | +€23,680 | +17.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.