DR. PH. ALBERTYN: 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. PH. ALBERTYN
Largest movements
- Receivables within one year +€429,016
up €429,016 (+1,187%), from €36,131 to €465,147
of which Other amounts receivable: +€399,810
- Cash +€34,518
up €34,518 (+132%), from €26,195 to €60,713
mainly Other debts (+€264,430) and Net result for the year (+€125,813)
- Tangible fixed assets -€11,088
down €11,088 (-23.3%), from €47,613 to €36,525
of which Land and buildings: -€7,799
- Other debts +€264,430
up €264,430, from €0 to €264,430
- Reserves +€125,813
up €125,813 (+102%), from €123,432 to €249,245
of which Distributable reserves: +€125,813
- Tax, wage and social debts +€65,171
up €65,171 (+225%), from €28,935 to €94,106
- Gross operating margin +€163,925
up €163,925 (+361%), from €45,436 to €209,361
- Taxes +€57,061
up €57,061 (+706%), from €8,080 to €65,141
- Depreciation -€29,366
down €29,366 (-89.9%), from €32,655 to €3,289
- Financial charges +€9,460
up €9,460 (+353%), from €2,676 to €12,137
of which Non-recurring financial charges: +€7,799
- Other operating charges -€3,477
down €3,477 (-56.7%), from €6,129 to €2,652
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €124,040 | €577,057 | +€453,016 | +365% |
| Fixed assets | 21/28 | €47,613 | €36,525 | -€11,088 | -23.3% |
| Tangible fixed assets | 22/27 | €47,613 | €36,525 | -€11,088 | -23.3% |
| Land and buildings | 22 | €7,799 | €0 | -€7,799 | -100% |
| Plant, machinery and equipment | 23 | €11,314 | €8,025 | -€3,289 | -29.1% |
| Furniture and vehicles | 24 | €28,500 | €28,500 | = | 0.0% |
| Current assets | 29/58 | €76,428 | €540,532 | +€464,104 | +607% |
| Amounts receivable within one year | 40/41 | €36,131 | €465,147 | +€429,016 | +1,187% |
| Trade receivables | 40 | - | €29,206 | +€29,206 | |
| Other amounts receivable | 41 | €36,131 | €435,941 | +€399,810 | +1,107% |
| Cash at bank and in hand | 54/58 | €26,195 | €60,713 | +€34,518 | +132% |
| Deferred charges and accrued income | 490/1 | €14,102 | €14,673 | +€571 | +4.0% |
| Total equity and liabilities | 10/49 | €124,040 | €577,057 | +€453,016 | +365% |
| Equity | 10/15 | €50,084 | €175,897 | +€125,813 | +251% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €123,432 | €249,245 | +€125,813 | +102% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €123,432 | €249,245 | +€125,813 | +102% |
| Profit (loss) carried forward | 14 | -€79,549 | -€79,549 | = | 0.0% |
| Amounts payable | 17/49 | €73,957 | €401,160 | +€327,203 | +442% |
| Amounts payable within one year | 42/48 | €73,957 | €401,160 | +€327,203 | +442% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €45,022 | €42,624 | -€2,398 | -5.3% |
| Suppliers | 440/4 | €45,022 | €42,624 | -€2,398 | -5.3% |
| Taxes, remuneration and social security | 45 | €28,935 | €94,106 | +€65,171 | +225% |
| Taxes | 450/3 | €28,935 | €94,106 | +€65,171 | +225% |
| Other amounts payable | 47/48 | €0 | €264,430 | +€264,430 | |
| Remuneration, social security and pensions | 62 | €332 | €338 | +€6 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,655 | €3,289 | -€29,366 | -89.9% |
| Other operating charges | 640/8 | €6,129 | €2,652 | -€3,477 | -56.7% |
| Gross operating margin | 9900 | €45,436 | €209,361 | +€163,925 | +361% |
| Operating profit (loss) | 9901 | €6,320 | €203,082 | +€196,762 | +3,113% |
| Financial income | 75/76B | €2,477 | €10 | -€2,467 | -99.6% |
| Recurring financial income | 75 | €2,477 | €10 | -€2,467 | -99.6% |
| Financial charges | 65/66B | €2,676 | €12,137 | +€9,460 | +353% |
| Recurring financial charges | 65 | €2,676 | €4,338 | +€1,662 | +62.1% |
| Non-recurring financial charges | 66B | - | €7,799 | +€7,799 | |
| Profit (loss) for the period before taxes | 9903 | €6,121 | €190,955 | +€184,834 | +3,020% |
| Income taxes | 67/77 | €8,080 | €65,141 | +€57,061 | +706% |
| Profit (loss) for the period | 9904 | -€1,960 | €125,813 | +€127,773 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,960 | €125,813 | +€127,773 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.