Dr Robert DIELS: what changed
Two fiscal 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 Robert DIELS
Largest movements
- Cash +€510,562
up €510,562 (+110.8%), from €460,629 to €971,192
mainly Current investments (+€398,858) and Net result for the year (+€126,621)
- Current investments -€398,858
down €398,858 (-69.4%), from €574,424 to €175,567
- Reserves +€128,481
up €128,481 (+14.8%), from €868,316 to €996,797
- Tax, wage and social debts -€12,330
down €12,330 (-47.7%), from €25,829 to €13,500
- Financial income -€6,198
down €6,198 (-19.1%), from €32,395 to €26,197
- Gross operating margin -€5,309
down €5,309 (-3.0%), from €174,073 to €168,764
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.
Cash bridge derived
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 | €1,038,303 | €1,152,456 | +€114,153 | +11.0% |
| Fixed assets | 21/28 | €1,985 | €2,146 | +€161 | +8.1% |
| Tangible fixed assets | 22/27 | €871 | €1,032 | +€161 | +18.4% |
| Furniture and vehicles | 24 | €871 | €1,032 | +€161 | +18.4% |
| Financial fixed assets | 28 | €1,114 | €1,114 | = | 0.0% |
| Current assets | 29/58 | €1,036,318 | €1,150,311 | +€113,993 | +11.0% |
| Current investments | 50/53 | €574,424 | €175,567 | -€398,858 | -69.4% |
| Cash at bank and in hand | 54/58 | €460,629 | €971,192 | +€510,562 | +110.8% |
| Deferred charges and accrued income | 490/1 | €1,264 | €3,552 | +€2,288 | +181.0% |
| Total equity and liabilities | 10/49 | €1,038,303 | €1,152,456 | +€114,153 | +11.0% |
| Equity | 10/15 | €1,011,201 | €1,136,989 | +€125,788 | +12.4% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €868,316 | €996,797 | +€128,481 | +14.8% |
| Distributable reserves | 133 | €868,316 | €996,797 | +€128,481 | +14.8% |
| Profit (loss) carried forward | 14 | €122,425 | €121,592 | -€833 | -0.7% |
| Amounts payable | 17/49 | €27,102 | €15,467 | -€11,635 | -42.9% |
| Amounts payable within one year | 42/48 | €27,102 | €15,467 | -€11,635 | -42.9% |
| Trade debts | 44 | €1,165 | €926 | -€239 | -20.5% |
| Suppliers | 440/4 | €1,165 | €926 | -€239 | -20.5% |
| Taxes, remuneration and social security | 45 | €25,829 | €13,500 | -€12,330 | -47.7% |
| Taxes | 450/3 | €25,829 | €13,500 | -€12,330 | -47.7% |
| Other amounts payable | 47/48 | €108 | €1,041 | +€933 | +862.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €391 | €609 | +€219 | +56.0% |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +157.8% |
| Gross operating margin | 9900 | €174,073 | €168,764 | -€5,309 | -3.0% |
| Operating profit (loss) | 9901 | €173,295 | €167,156 | -€6,139 | -3.5% |
| Financial income | 75/76B | €32,395 | €26,197 | -€6,198 | -19.1% |
| Recurring financial income | 75 | €32,395 | €26,197 | -€6,198 | -19.1% |
| Financial charges | 65/66B | €442 | €86 | -€356 | -80.5% |
| Recurring financial charges | 65 | €442 | €86 | -€356 | -80.5% |
| Profit (loss) for the period before taxes | 9903 | €205,247 | €193,267 | -€11,981 | -5.8% |
| Income taxes | 67/77 | €65,853 | €66,645 | +€792 | +1.2% |
| Profit (loss) for the period | 9904 | €139,394 | €126,621 | -€12,773 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €139,394 | €126,621 | -€12,773 | -9.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.