Dr. S. Dries: 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. S. Dries
Largest movements
- Cash -€70,791
down €70,791 (-29.8%), from €237,210 to €166,418
mainly Receivables within one year (-€56,343) and Current investments (-€49,425)
- Receivables within one year +€56,343
up €56,343 (+8.6%), from €652,487 to €708,830
of which Other amounts receivable: +€45,797
- Current investments +€49,425
new in 2025: €49,425
- Reserves +€30,679
up €30,679 (+3.5%), from €881,908 to €912,587
of which Distributable reserves: +€30,679
- Gross operating margin +€23,842
up €23,842 (+111%), from €21,462 to €45,303
- Taxes +€8,242
up €8,242 (+105%), from €7,849 to €16,091
- Financial income +€1,900
up €1,900 (+15.0%), from €12,686 to €14,586
- Staff costs -€840
down €840 (-100%), from €840 to €0
- Other operating charges +€476
up €476 (+11.4%), from €4,171 to €4,647
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 | €914,693 | €942,464 | +€27,770 | +3.0% |
| Fixed assets | 21/28 | €24,997 | €17,790 | -€7,206 | -28.8% |
| Tangible fixed assets | 22/27 | €20,287 | €13,080 | -€7,206 | -35.5% |
| Plant, machinery and equipment | 23 | €7,950 | €6,276 | -€1,674 | -21.1% |
| Furniture and vehicles | 24 | €12,336 | €6,804 | -€5,532 | -44.8% |
| Financial fixed assets | 28 | €4,710 | €4,710 | = | 0.0% |
| Current assets | 29/58 | €889,697 | €924,673 | +€34,977 | +3.9% |
| Amounts receivable within one year | 40/41 | €652,487 | €708,830 | +€56,343 | +8.6% |
| Trade receivables | 40 | €2,927 | €13,474 | +€10,546 | +360% |
| Other amounts receivable | 41 | €649,560 | €695,357 | +€45,797 | +7.1% |
| Current investments | 50/53 | - | €49,425 | +€49,425 | |
| Cash at bank and in hand | 54/58 | €237,210 | €166,418 | -€70,791 | -29.8% |
| Total equity and liabilities | 10/49 | €914,693 | €942,464 | +€27,770 | +3.0% |
| Equity | 10/15 | €900,524 | €931,203 | +€30,679 | +3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €881,908 | €912,587 | +€30,679 | +3.5% |
| Non-distributable reserves | 130/1 | €21,210 | €21,210 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,210 | €21,210 | = | 0.0% |
| Distributable reserves | 133 | €860,698 | €891,377 | +€30,679 | +3.6% |
| Profit (loss) carried forward | 14 | €17 | €17 | = | 0.0% |
| Amounts payable | 17/49 | €14,169 | €11,261 | -€2,908 | -20.5% |
| Amounts payable within one year | 42/48 | €14,169 | €11,261 | -€2,908 | -20.5% |
| Trade debts | 44 | €6,320 | €169 | -€6,151 | -97.3% |
| Suppliers | 440/4 | €6,320 | €169 | -€6,151 | -97.3% |
| Taxes, remuneration and social security | 45 | €7,849 | €11,091 | +€3,242 | +41.3% |
| Taxes | 450/3 | €7,849 | €11,091 | +€3,242 | +41.3% |
| Remuneration, social security and pensions | 62 | €840 | €0 | -€840 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,850 | €7,206 | +€356 | +5.2% |
| Other operating charges | 640/8 | €4,171 | €4,647 | +€476 | +11.4% |
| Gross operating margin | 9900 | €21,462 | €45,303 | +€23,842 | +111% |
| Operating profit (loss) | 9901 | €9,601 | €33,450 | +€23,849 | +248% |
| Financial income | 75/76B | €12,686 | €14,586 | +€1,900 | +15.0% |
| Recurring financial income | 75 | €12,686 | €14,586 | +€1,900 | +15.0% |
| Financial charges | 65/66B | €1,006 | €1,265 | +€259 | +25.8% |
| Recurring financial charges | 65 | €1,006 | €1,265 | +€259 | +25.8% |
| Profit (loss) for the period before taxes | 9903 | €21,281 | €46,770 | +€25,490 | +120% |
| Income taxes | 67/77 | €7,849 | €16,091 | +€8,242 | +105% |
| Profit (loss) for the period | 9904 | €13,432 | €30,679 | +€17,247 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €13,432 | €30,679 | +€17,247 | +128% |
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 13 October 2026 via checked.be.