DR. R. NUYTS: 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. R. NUYTS
Largest movements
- Receivables after one year -€183,656
down €183,656 (-68.1%), from €269,726 to €86,071
- Cash +€99,649
up €99,649 (+49.1%), from €203,036 to €302,685
mainly Receivables after one year (+€183,656) and Net result for the year (+€150,988)
- Deferred charges and accrued income +€21,124
up €21,124 (+115%), from €18,361 to €39,485
- Tangible fixed assets -€9,739
down €9,739 (-31.0%), from €31,401 to €21,662
of which Land and buildings: -€6,614
- Reserves -€45,049
down €45,049 (-5.7%), from €793,526 to €748,477
- Trade debts -€18,484
down €18,484 (-92.5%), from €19,977 to €1,493
- Gross operating margin -€36,818
down €36,818 (-13.9%), from €264,058 to €227,240
- Taxes -€15,392
down €15,392 (-17.6%), from €87,638 to €72,247
- Financial income -€12,423
down €12,423 (-64.8%), from €19,164 to €6,741
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 | €826,724 | €755,169 | -€71,555 | -8.7% |
| Fixed assets | 21/28 | €34,334 | €24,595 | -€9,739 | -28.4% |
| Tangible fixed assets | 22/27 | €31,401 | €21,662 | -€9,739 | -31.0% |
| Land and buildings | 22 | €19,265 | €12,651 | -€6,614 | -34.3% |
| Plant, machinery and equipment | 23 | €701 | €375 | -€326 | -46.5% |
| Furniture and vehicles | 24 | €6,635 | €3,836 | -€2,799 | -42.2% |
| Other tangible fixed assets | 26 | €4,800 | €4,800 | = | 0.0% |
| Financial fixed assets | 28 | €2,933 | €2,933 | = | 0.0% |
| Current assets | 29/58 | €792,390 | €730,574 | -€61,816 | -7.8% |
| Amounts receivable after more than one year | 29 | €269,726 | €86,071 | -€183,656 | -68.1% |
| Other amounts receivable | 291 | €269,726 | €86,071 | -€183,656 | -68.1% |
| Amounts receivable within one year | 40/41 | - | €1,066 | +€1,066 | |
| Other amounts receivable | 41 | - | €1,066 | +€1,066 | |
| Current investments | 50/53 | €301,266 | €301,266 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €203,036 | €302,685 | +€99,649 | +49.1% |
| Deferred charges and accrued income | 490/1 | €18,361 | €39,485 | +€21,124 | +115% |
| Total equity and liabilities | 10/49 | €826,724 | €755,169 | -€71,555 | -8.7% |
| Equity | 10/15 | €794,526 | €749,477 | -€45,049 | -5.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €793,526 | €748,477 | -€45,049 | -5.7% |
| Distributable reserves | 133 | €793,526 | €748,477 | -€45,049 | -5.7% |
| Amounts payable | 17/49 | €32,198 | €5,691 | -€26,506 | -82.3% |
| Amounts payable within one year | 42/48 | €32,198 | €5,691 | -€26,506 | -82.3% |
| Trade debts | 44 | €19,977 | €1,493 | -€18,484 | -92.5% |
| Suppliers | 440/4 | €19,977 | €1,493 | -€18,484 | -92.5% |
| Taxes, remuneration and social security | 45 | €611 | - | -€611 | |
| Taxes | 450/3 | €611 | - | -€611 | |
| Other amounts payable | 47/48 | €11,610 | €4,198 | -€7,412 | -63.8% |
| Non-recurring operating income | 76A | €3,500 | - | -€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,389 | €9,739 | +€350 | +3.7% |
| Other operating charges | 640/8 | €224 | €291 | +€67 | +29.8% |
| Gross operating margin | 9900 | €264,058 | €227,240 | -€36,818 | -13.9% |
| Operating profit (loss) | 9901 | €254,445 | €217,211 | -€37,234 | -14.6% |
| Financial income | 75/76B | €19,164 | €6,741 | -€12,423 | -64.8% |
| Recurring financial income | 75 | €19,164 | €6,741 | -€12,423 | -64.8% |
| Financial charges | 65/66B | €3,080 | €717 | -€2,363 | -76.7% |
| Recurring financial charges | 65 | €3,080 | €717 | -€2,363 | -76.7% |
| Profit (loss) for the period before taxes | 9903 | €270,529 | €223,235 | -€47,295 | -17.5% |
| Income taxes | 67/77 | €87,638 | €72,247 | -€15,392 | -17.6% |
| Profit (loss) for the period | 9904 | €182,891 | €150,988 | -€31,903 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €182,891 | €150,988 | -€31,903 | -17.4% |
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.