DR. REEKMANS: 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. REEKMANS
Largest movements
- Tangible fixed assets +€64,623
up €64,623 (+165%), from €39,097 to €103,720
of which Furniture and vehicles: +€68,652
- Cash -€29,544
down €29,544 (-8.7%), from €339,103 to €309,559
mainly Contributions, distributions and other (-€116,586) and Investment in fixed assets (net) (-€88,989)
- Receivables within one year +€29,461
up €29,461 (+291%), from €10,125 to €39,586
of which Trade receivables: +€34,259
- Other debts +€109,386
new in 2025: €109,386
- Reserves -€30,708
down €30,708 (-8.4%), from €367,726 to €337,018
- Tax, wage and social debts -€11,948
no longer reported in 2025 (was €11,948)
- Depreciation +€6,109
up €6,109 (+33.5%), from €18,257 to €24,366
- Gross operating margin +€5,488
up €5,488 (+3.9%), from €140,091 to €145,579
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 | €398,049 | €464,779 | +€66,730 | +16.8% |
| Fixed assets | 21/28 | €39,097 | €103,720 | +€64,623 | +165% |
| Tangible fixed assets | 22/27 | €39,097 | €103,720 | +€64,623 | +165% |
| Land and buildings | 22 | €7,071 | €3,954 | -€3,117 | -44.1% |
| Plant, machinery and equipment | 23 | €1,850 | €938 | -€912 | -49.3% |
| Furniture and vehicles | 24 | €30,176 | €98,828 | +€68,652 | +228% |
| Current assets | 29/58 | €358,952 | €361,059 | +€2,107 | +0.6% |
| Amounts receivable within one year | 40/41 | €10,125 | €39,586 | +€29,461 | +291% |
| Trade receivables | 40 | - | €34,259 | +€34,259 | |
| Other amounts receivable | 41 | €10,125 | €5,327 | -€4,798 | -47.4% |
| Cash at bank and in hand | 54/58 | €339,103 | €309,559 | -€29,544 | -8.7% |
| Deferred charges and accrued income | 490/1 | €9,724 | €11,914 | +€2,190 | +22.5% |
| Total equity and liabilities | 10/49 | €398,049 | €464,779 | +€66,730 | +16.8% |
| Equity | 10/15 | €380,126 | €349,418 | -€30,708 | -8.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €367,726 | €337,018 | -€30,708 | -8.4% |
| Distributable reserves | 133 | €367,726 | €337,018 | -€30,708 | -8.4% |
| Amounts payable | 17/49 | €17,923 | €115,361 | +€97,438 | +544% |
| Amounts payable within one year | 42/48 | €11,948 | €109,386 | +€97,438 | +816% |
| Taxes, remuneration and social security | 45 | €11,948 | - | -€11,948 | |
| Taxes | 450/3 | €11,948 | - | -€11,948 | |
| Other amounts payable | 47/48 | - | €109,386 | +€109,386 | |
| Accrued charges and deferred income | 492/3 | €5,975 | €5,975 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,257 | €24,366 | +€6,109 | +33.5% |
| Gross operating margin | 9900 | €140,091 | €145,579 | +€5,488 | +3.9% |
| Operating profit (loss) | 9901 | €121,834 | €121,213 | -€621 | -0.5% |
| Financial income | 75/76B | €2,969 | €1,840 | -€1,129 | -38.0% |
| Recurring financial income | 75 | €2,969 | €1,840 | -€1,129 | -38.0% |
| Financial charges | 65/66B | €952 | €271 | -€681 | -71.5% |
| Recurring financial charges | 65 | €952 | €271 | -€681 | -71.5% |
| Profit (loss) for the period before taxes | 9903 | €123,851 | €122,782 | -€1,069 | -0.9% |
| Income taxes | 67/77 | €35,905 | €36,904 | +€999 | +2.8% |
| Profit (loss) for the period | 9904 | €87,946 | €85,878 | -€2,068 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €87,946 | €85,878 | -€2,068 | -2.4% |
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 27 October 2026 via checked.be.