DR. PETER DRIESEN: 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. PETER DRIESEN
Largest movements
- Current investments +€439,196
up €439,196 (+45.0%), from €975,551 to €1.4m
- Cash -€142,445
down €142,445 (-11.6%), from €1.2m to €1.1m
mainly Current investments (-€439,196) and Contributions, distributions and other (-€55,580)
- Reserves +€305,736
up €305,736 (+13.4%), from €2.3m to €2.6m
of which Distributable reserves: +€305,736
- Contributions -€50,000
down €50,000 (-89.6%), from €55,800 to €5,800
- Financial income +€74,416
up €74,416 (+135%), from €55,223 to €129,639
- Gross operating margin +€23,447
up €23,447 (+8.0%), from €294,152 to €317,599
- Taxes +€20,972
up €20,972 (+20.3%), from €103,063 to €124,035
- Financial charges -€5,858
down €5,858 (-74.3%), from €7,881 to €2,023
- Staff costs +€3,856
up €3,856 (+624%), from €618 to €4,474
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 | €2,406,362 | €2,686,012 | +€279,650 | +11.6% |
| Fixed assets | 21/28 | €25,775 | €22,259 | -€3,516 | -13.6% |
| Tangible fixed assets | 22/27 | €25,775 | €22,259 | -€3,516 | -13.6% |
| Land and buildings | 22 | €5,532 | €4,075 | -€1,457 | -26.3% |
| Plant, machinery and equipment | 23 | €3,000 | €3,000 | = | 0.0% |
| Furniture and vehicles | 24 | €3,294 | €1,234 | -€2,059 | -62.5% |
| Other tangible fixed assets | 26 | €13,950 | €13,950 | = | 0.0% |
| Current assets | 29/58 | €2,380,587 | €2,663,753 | +€283,166 | +11.9% |
| Amounts receivable within one year | 40/41 | €171,607 | €154,530 | -€17,076 | -10.0% |
| Trade receivables | 40 | €417 | €379 | -€38 | -9.1% |
| Other amounts receivable | 41 | €171,190 | €154,152 | -€17,038 | -10.0% |
| Current investments | 50/53 | €975,551 | €1,414,747 | +€439,196 | +45.0% |
| Cash at bank and in hand | 54/58 | €1,230,899 | €1,088,454 | -€142,445 | -11.6% |
| Deferred charges and accrued income | 490/1 | €2,530 | €6,021 | +€3,491 | +138% |
| Total equity and liabilities | 10/49 | €2,406,362 | €2,686,012 | +€279,650 | +11.6% |
| Equity | 10/15 | €2,337,350 | €2,593,086 | +€255,736 | +10.9% |
| Contributions | 10/11 | €55,800 | €5,800 | -€50,000 | -89.6% |
| Reserves | 13 | €2,281,550 | €2,587,286 | +€305,736 | +13.4% |
| Tax-exempt reserves | 132 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €2,276,550 | €2,582,286 | +€305,736 | +13.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €69,013 | €92,927 | +€23,914 | +34.7% |
| Amounts payable within one year | 42/48 | €69,013 | €92,927 | +€23,914 | +34.7% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €39,013 | €37,347 | -€1,666 | -4.3% |
| Taxes | 450/3 | €39,013 | €37,347 | -€1,666 | -4.3% |
| Other amounts payable | 47/48 | €30,000 | €55,580 | +€25,580 | +85.3% |
| Remuneration, social security and pensions | 62 | €618 | €4,474 | +€3,856 | +624% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,151 | €3,516 | -€635 | -15.3% |
| Other operating charges | 640/8 | €4,819 | €1,875 | -€2,944 | -61.1% |
| Gross operating margin | 9900 | €294,152 | €317,599 | +€23,447 | +8.0% |
| Operating profit (loss) | 9901 | €284,563 | €307,735 | +€23,171 | +8.1% |
| Financial income | 75/76B | €55,223 | €129,639 | +€74,416 | +135% |
| Recurring financial income | 75 | €55,223 | €129,639 | +€74,416 | +135% |
| Financial charges | 65/66B | €7,881 | €2,023 | -€5,858 | -74.3% |
| Recurring financial charges | 65 | €7,881 | €2,023 | -€5,858 | -74.3% |
| Profit (loss) for the period before taxes | 9903 | €331,906 | €435,351 | +€103,445 | +31.2% |
| Income taxes | 67/77 | €103,063 | €124,035 | +€20,972 | +20.3% |
| Profit (loss) for the period | 9904 | €228,843 | €311,316 | +€82,473 | +36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €228,843 | €311,316 | +€82,473 | +36.0% |
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 17 October 2026 via checked.be.