Dr. Ph. VANWALLEGHEM: 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. VANWALLEGHEM
Largest movements
- Cash +€34,114
up €34,114 (+56.8%), from €60,023 to €94,137
mainly Net result for the year (+€46,114) and Depreciation (+€36,510)
- Tangible fixed assets -€34,091
down €34,091 (-22.1%), from €154,250 to €120,159
of which Land and buildings: -€23,800
- Receivables after one year -€10,951
down €10,951 (-100%), from €10,951 to €0
- Receivables within one year -€7,555
down €7,555 (-24.1%), from €31,355 to €23,800
of which Other amounts receivable: -€9,855
- Current portion of long-term debt -€22,472
down €22,472 (-100%), from €22,472 to €0
- Trade debts -€3,154
down €3,154 (-60.6%), from €5,201 to €2,048
- Reserves +€3,114
up €3,114 (+1.5%), from €207,411 to €210,525
- Tax, wage and social debts +€2,791
up €2,791 (+15.4%), from €18,116 to €20,907
- Gross operating margin +€11,252
up €11,252 (+12.1%), from €92,749 to €104,001
- Taxes +€3,587
up €3,587 (+23.7%), from €15,168 to €18,756
- Financial charges -€1,166
down €1,166 (-71.3%), from €1,634 to €468
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 | €265,601 | €245,879 | -€19,722 | -7.4% |
| Fixed assets | 21/28 | €154,250 | €120,159 | -€34,091 | -22.1% |
| Tangible fixed assets | 22/27 | €154,250 | €120,159 | -€34,091 | -22.1% |
| Land and buildings | 22 | €141,687 | €117,887 | -€23,800 | -16.8% |
| Furniture and vehicles | 24 | €12,563 | €2,272 | -€10,291 | -81.9% |
| Current assets | 29/58 | €111,351 | €125,720 | +€14,369 | +12.9% |
| Amounts receivable after more than one year | 29 | €10,951 | €0 | -€10,951 | -100% |
| Other amounts receivable | 291 | €10,951 | €0 | -€10,951 | -100% |
| Amounts receivable within one year | 40/41 | €31,355 | €23,800 | -€7,555 | -24.1% |
| Trade receivables | 40 | €21,500 | €23,800 | +€2,300 | +10.7% |
| Other amounts receivable | 41 | €9,855 | €0 | -€9,855 | -100% |
| Current investments | 50/53 | €7,564 | €7,564 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,023 | €94,137 | +€34,114 | +56.8% |
| Deferred charges and accrued income | 490/1 | €1,459 | €219 | -€1,239 | -85.0% |
| Total equity and liabilities | 10/49 | €265,601 | €245,879 | -€19,722 | -7.4% |
| Equity | 10/15 | €219,811 | €222,925 | +€3,114 | +1.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €207,411 | €210,525 | +€3,114 | +1.5% |
| Distributable reserves | 133 | €207,411 | €210,525 | +€3,114 | +1.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €45,790 | €22,955 | -€22,835 | -49.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €45,790 | €22,955 | -€22,835 | -49.9% |
| Current portion of amounts payable after more than one year | 42 | €22,472 | €0 | -€22,472 | -100% |
| Trade debts | 44 | €5,201 | €2,048 | -€3,154 | -60.6% |
| Suppliers | 440/4 | €5,201 | €2,048 | -€3,154 | -60.6% |
| Taxes, remuneration and social security | 45 | €18,116 | €20,907 | +€2,791 | +15.4% |
| Taxes | 450/3 | €18,116 | €20,907 | +€2,791 | +15.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,233 | €36,510 | +€277 | +0.8% |
| Other operating charges | 640/8 | €2,448 | €3,016 | +€568 | +23.2% |
| Gross operating margin | 9900 | €92,749 | €104,001 | +€11,252 | +12.1% |
| Operating profit (loss) | 9901 | €54,068 | €64,476 | +€10,408 | +19.2% |
| Financial income | 75/76B | €809 | €862 | +€53 | +6.5% |
| Recurring financial income | 75 | €809 | €862 | +€53 | +6.5% |
| Financial charges | 65/66B | €1,634 | €468 | -€1,166 | -71.3% |
| Recurring financial charges | 65 | €1,634 | €468 | -€1,166 | -71.3% |
| Profit (loss) for the period before taxes | 9903 | €53,243 | €64,869 | +€11,626 | +21.8% |
| Income taxes | 67/77 | €15,168 | €18,756 | +€3,587 | +23.7% |
| Profit (loss) for the period | 9904 | €38,075 | €46,114 | +€8,039 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €38,075 | €46,114 | +€8,039 | +21.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.