DR. POELS DIRK: 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. POELS DIRK
Largest movements
- Cash +€173,926
up €173,926 (+65.2%), from €266,932 to €440,858
mainly Net result for the year (+€154,439) and Trade debts (+€51,800)
- Current investments -€23,000
down €23,000 (-1.3%), from €1.7m to €1.7m
- Reserves +€154,439
up €154,439 (+8.0%), from €1.9m to €2.1m
of which Distributable reserves: +€154,439
- Trade debts +€51,800
up €51,800, from €0 to €51,800
- Tax, wage and social debts -€37,814
down €37,814 (-70.8%), from €53,388 to €15,574
of which Taxes: -€35,564
- Gross operating margin -€146,906
down €146,906 (-40.6%), from €361,423 to €214,517
- Taxes -€55,564
down €55,564 (-42.4%), from €131,138 to €75,574
- Financial income -€48,719
down €48,719 (-58.0%), from €84,069 to €35,350
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 | €2,014,934 | €2,179,442 | +€164,507 | +8.2% |
| Fixed assets | 21/28 | €22,133 | €30,031 | +€7,897 | +35.7% |
| Tangible fixed assets | 22/27 | €22,133 | €30,031 | +€7,897 | +35.7% |
| Land and buildings | 22 | - | €19,045 | +€19,045 | |
| Plant, machinery and equipment | 23 | €897 | €499 | -€398 | -44.4% |
| Furniture and vehicles | 24 | €21,236 | €10,486 | -€10,750 | -50.6% |
| Current assets | 29/58 | €1,992,801 | €2,149,411 | +€156,610 | +7.9% |
| Amounts receivable within one year | 40/41 | €1,007 | €6,691 | +€5,684 | +565% |
| Other amounts receivable | 41 | €1,007 | €6,691 | +€5,684 | +565% |
| Current investments | 50/53 | €1,724,862 | €1,701,862 | -€23,000 | -1.3% |
| Cash at bank and in hand | 54/58 | €266,932 | €440,858 | +€173,926 | +65.2% |
| Total equity and liabilities | 10/49 | €2,014,934 | €2,179,442 | +€164,507 | +8.2% |
| Equity | 10/15 | €1,957,628 | €2,112,067 | +€154,439 | +7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,939,028 | €2,093,467 | +€154,439 | +8.0% |
| Non-distributable reserves | 130/1 | €73,860 | €73,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €73,860 | €73,860 | = | 0.0% |
| Distributable reserves | 133 | €1,865,168 | €2,019,607 | +€154,439 | +8.3% |
| Amounts payable | 17/49 | €57,306 | €67,374 | +€10,068 | +17.6% |
| Amounts payable within one year | 42/48 | €57,306 | €67,374 | +€10,068 | +17.6% |
| Financial debts | 43 | €3,918 | €0 | -€3,918 | -100% |
| Credit institutions | 430/8 | €3,918 | €0 | -€3,918 | -100% |
| Trade debts | 44 | €0 | €51,800 | +€51,800 | |
| Suppliers | 440/4 | €0 | €51,800 | +€51,800 | |
| Taxes, remuneration and social security | 45 | €53,388 | €15,574 | -€37,814 | -70.8% |
| Taxes | 450/3 | €51,138 | €15,574 | -€35,564 | -69.5% |
| Remuneration and social security | 454/9 | €2,250 | €0 | -€2,250 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,333 | €12,605 | +€1,272 | +11.2% |
| Other operating charges | 640/8 | €3,685 | €6,665 | +€2,980 | +80.8% |
| Gross operating margin | 9900 | €361,423 | €214,517 | -€146,906 | -40.6% |
| Operating profit (loss) | 9901 | €346,405 | €195,247 | -€151,158 | -43.6% |
| Financial income | 75/76B | €84,069 | €35,350 | -€48,719 | -58.0% |
| Recurring financial income | 75 | €84,069 | €35,350 | -€48,719 | -58.0% |
| Financial charges | 65/66B | €1,847 | €584 | -€1,263 | -68.4% |
| Recurring financial charges | 65 | €1,847 | €584 | -€1,263 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | €428,627 | €230,013 | -€198,614 | -46.3% |
| Income taxes | 67/77 | €131,138 | €75,574 | -€55,564 | -42.4% |
| Profit (loss) for the period | 9904 | €297,489 | €154,439 | -€143,050 | -48.1% |
| Profit (loss) for the period to be appropriated | 9905 | €297,489 | €154,439 | -€143,050 | -48.1% |
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 25 October 2026 via checked.be.