Dr. S. Debrauwer: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
Dr. S. Debrauwer
Largest movements
- Cash -€280,942
down €280,942 (-71.3%), from €394,068 to €113,126
mainly Contributions, distributions and other (-€560,318) and Debts after one year (-€16,194)
- Deferred charges and accrued income -€18,799
down €18,799 (-34.3%), from €54,787 to €35,987
- Reserves -€275,232
down €275,232 (-17.9%), from €1.5m to €1.3m
of which Distributable reserves: -€191,032
- Debts after one year -€16,194
down €16,194 (-59.1%), from €27,394 to €11,200
- Financial income +€85,184
up €85,184 (+671%), from €12,690 to €97,873
- Taxes +€22,384
up €22,384 (+17.3%), from €129,396 to €151,781
- Gross operating margin -€13,558
down €13,558 (-3.7%), from €365,728 to €352,170
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,615,117 | €1,314,414 | -€300,703 | -18.6% |
| Current assets | 29/58 | €1,615,117 | €1,314,414 | -€300,703 | -18.6% |
| Amounts receivable within one year | 40/41 | €136,752 | €128,801 | -€7,950 | -5.8% |
| Trade receivables | 40 | €51,150 | €42,952 | -€8,198 | -16.0% |
| Other amounts receivable | 41 | €85,601 | €85,849 | +€248 | +0.3% |
| Current investments | 50/53 | €1,029,510 | €1,036,499 | +€6,989 | +0.7% |
| Cash at bank and in hand | 54/58 | €394,068 | €113,126 | -€280,942 | -71.3% |
| Deferred charges and accrued income | 490/1 | €54,787 | €35,987 | -€18,799 | -34.3% |
| Total equity and liabilities | 10/49 | €1,615,117 | €1,314,414 | -€300,703 | -18.6% |
| Equity | 10/15 | €1,554,107 | €1,278,874 | -€275,232 | -17.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,534,107 | €1,258,874 | -€275,232 | -17.9% |
| Tax-exempt reserves | 132 | €185,240 | €101,040 | -€84,200 | -45.5% |
| Distributable reserves | 133 | €1,348,867 | €1,157,834 | -€191,032 | -14.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €61,010 | €35,539 | -€25,471 | -41.7% |
| Amounts payable after more than one year | 17 | €27,394 | €11,200 | -€16,194 | -59.1% |
| Financial debts | 170/4 | €27,394 | €11,200 | -€16,194 | -59.1% |
| Amounts payable within one year | 42/48 | €33,616 | €24,339 | -€9,277 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €15,494 | €16,194 | +€700 | +4.5% |
| Trade debts | 44 | €1,319 | €674 | -€645 | -48.9% |
| Suppliers | 440/4 | €1,319 | €674 | -€645 | -48.9% |
| Taxes, remuneration and social security | 45 | €13,797 | €7,471 | -€6,326 | -45.8% |
| Taxes | 450/3 | €13,797 | €7,471 | -€6,326 | -45.8% |
| Other amounts payable | 47/48 | €3,006 | €0 | -€3,006 | -100% |
| Other operating charges | 640/8 | €3,129 | €3,107 | -€22 | -0.7% |
| Gross operating margin | 9900 | €365,728 | €352,170 | -€13,558 | -3.7% |
| Operating profit (loss) | 9901 | €362,599 | €349,063 | -€13,536 | -3.7% |
| Financial income | 75/76B | €12,690 | €97,873 | +€85,184 | +671% |
| Recurring financial income | 75 | €12,690 | €97,873 | +€85,184 | +671% |
| Financial charges | 65/66B | €8,248 | €10,071 | +€1,823 | +22.1% |
| Recurring financial charges | 65 | €8,248 | €10,071 | +€1,823 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €367,041 | €436,866 | +€69,825 | +19.0% |
| Income taxes | 67/77 | €129,396 | €151,781 | +€22,384 | +17.3% |
| Profit (loss) for the period | 9904 | €237,644 | €285,085 | +€47,441 | +20.0% |
| Transfer from tax-exempt reserves | 789 | €42,100 | €134,720 | +€92,620 | +220% |
| Transfer to tax-exempt reserves | 689 | €50,520 | €50,520 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €229,224 | €369,285 | +€140,061 | +61.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.