Dr. Roderick Puts: 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. Roderick Puts
Largest movements
- Cash +€51,600
up €51,600 (+199%), from €25,873 to €77,473
mainly Depreciation (+€45,507) and Net result for the year (+€36,804)
- Tangible fixed assets -€37,891
down €37,891 (-10.8%), from €352,200 to €314,308
of which Plant, machinery and equipment: -€23,955
- Reserves +€36,804
up €36,804 (+139%), from €26,418 to €63,221
- Debts after one year -€27,739
down €27,739 (-8.9%), from €312,071 to €284,331
- Tax, wage and social debts +€11,674
up €11,674 (+309%), from €3,780 to €15,454
of which Taxes: +€7,704
- Gross operating margin +€80,272
up €80,272 (+134%), from €59,918 to €140,191
- Depreciation +€21,431
up €21,431 (+89.0%), from €24,077 to €45,507
- Staff costs +€21,336
up €21,336 (+140%), from €15,254 to €36,590
- Taxes +€7,745
up €7,745 (+6,051%), from €128 to €7,873
- Financial charges +€4,562
up €4,562 (+56.4%), from €8,087 to €12,649
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 | €379,027 | €396,322 | +€17,295 | +4.6% |
| Fixed assets | 21/28 | €352,200 | €314,308 | -€37,891 | -10.8% |
| Tangible fixed assets | 22/27 | €352,200 | €314,308 | -€37,891 | -10.8% |
| Land and buildings | 22 | €161,044 | €151,215 | -€9,829 | -6.1% |
| Plant, machinery and equipment | 23 | €172,990 | €149,035 | -€23,955 | -13.8% |
| Furniture and vehicles | 24 | €18,166 | €14,059 | -€4,107 | -22.6% |
| Current assets | 29/58 | €26,828 | €82,014 | +€55,186 | +206% |
| Cash at bank and in hand | 54/58 | €25,873 | €77,473 | +€51,600 | +199% |
| Deferred charges and accrued income | 490/1 | €955 | €4,540 | +€3,586 | +376% |
| Total equity and liabilities | 10/49 | €379,027 | €396,322 | +€17,295 | +4.6% |
| Equity | 10/15 | €29,418 | €66,221 | +€36,804 | +125% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €26,418 | €63,221 | +€36,804 | +139% |
| Distributable reserves | 133 | €26,418 | €63,221 | +€36,804 | +139% |
| Amounts payable | 17/49 | €349,610 | €330,101 | -€19,509 | -5.6% |
| Amounts payable after more than one year | 17 | €312,071 | €284,331 | -€27,739 | -8.9% |
| Financial debts | 170/4 | €312,071 | €284,331 | -€27,739 | -8.9% |
| Amounts payable within one year | 42/48 | €37,179 | €45,769 | +€8,590 | +23.1% |
| Current portion of amounts payable after more than one year | 42 | €26,738 | €27,739 | +€1,001 | +3.7% |
| Trade debts | 44 | €3,118 | €1,620 | -€1,498 | -48.0% |
| Suppliers | 440/4 | €3,118 | €1,620 | -€1,498 | -48.0% |
| Taxes, remuneration and social security | 45 | €3,780 | €15,454 | +€11,674 | +309% |
| Taxes | 450/3 | €128 | €7,832 | +€7,704 | +6,019% |
| Remuneration and social security | 454/9 | €3,652 | €7,622 | +€3,970 | +109% |
| Other amounts payable | 47/48 | €3,543 | €956 | -€2,587 | -73.0% |
| Accrued charges and deferred income | 492/3 | €360 | - | -€360 | |
| Remuneration, social security and pensions | 62 | €15,254 | €36,590 | +€21,336 | +140% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,077 | €45,507 | +€21,431 | +89.0% |
| Other operating charges | 640/8 | €867 | €959 | +€91 | +10.5% |
| Gross operating margin | 9900 | €59,918 | €140,191 | +€80,272 | +134% |
| Operating profit (loss) | 9901 | €19,721 | €57,135 | +€37,414 | +190% |
| Financial income | 75/76B | €31 | €190 | +€159 | +506% |
| Recurring financial income | 75 | €31 | €190 | +€159 | +506% |
| Financial charges | 65/66B | €8,087 | €12,649 | +€4,562 | +56.4% |
| Recurring financial charges | 65 | €8,087 | €12,649 | +€4,562 | +56.4% |
| Profit (loss) for the period before taxes | 9903 | €11,665 | €44,677 | +€33,011 | +283% |
| Income taxes | 67/77 | €128 | €7,873 | +€7,745 | +6,051% |
| Profit (loss) for the period | 9904 | €11,537 | €36,804 | +€25,266 | +219% |
| Profit (loss) for the period to be appropriated | 9905 | €11,537 | €36,804 | +€25,266 | +219% |
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 26 October 2026 via checked.be.