DR. S. DRIESSENS: 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. DRIESSENS
Largest movements
- Receivables within one year +€92,382
up €92,382 (+40.1%), from €230,285 to €322,667
- Deferred charges and accrued income -€67,267
down €67,267 (-42.7%), from €157,589 to €90,322
- Tangible fixed assets +€35,595
up €35,595 (+16.4%), from €217,380 to €252,975
of which Furniture and vehicles: +€46,355
- Cash -€28,754
down €28,754 (-14.2%), from €202,349 to €173,595
mainly Receivables within one year (-€92,382) and Investment in fixed assets (net) (-€78,033)
- Reserves +€94,510
up €94,510 (+13.5%), from €699,518 to €794,027
of which Tax-exempt reserves: +€50,520
- Current portion of long-term debt -€29,034
down €29,034 (-76.4%), from €37,985 to €8,951
- Trade debts -€23,224
down €23,224 (-70.3%), from €33,018 to €9,794
- Debts after one year -€8,951
no longer reported in 2025 (was €8,951)
- Gross operating margin -€78,078
down €78,078 (-33.9%), from €230,421 to €152,343
- Taxes -€30,096
down €30,096 (-47.6%), from €63,225 to €33,129
- Financial income +€8,986
up €8,986 (+77.7%), from €11,558 to €20,544
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 | €807,602 | €839,559 | +€31,956 | +4.0% |
| Fixed assets | 21/28 | €217,380 | €252,975 | +€35,595 | +16.4% |
| Tangible fixed assets | 22/27 | €217,380 | €252,975 | +€35,595 | +16.4% |
| Land and buildings | 22 | €155,504 | €141,381 | -€14,123 | -9.1% |
| Plant, machinery and equipment | 23 | €4,550 | €4,264 | -€286 | -6.3% |
| Furniture and vehicles | 24 | €57,326 | €103,680 | +€46,355 | +80.9% |
| Other tangible fixed assets | 26 | - | €3,650 | +€3,650 | |
| Current assets | 29/58 | €590,223 | €586,584 | -€3,639 | -0.6% |
| Amounts receivable within one year | 40/41 | €230,285 | €322,667 | +€92,382 | +40.1% |
| Other amounts receivable | 41 | €230,285 | €322,667 | +€92,382 | +40.1% |
| Cash at bank and in hand | 54/58 | €202,349 | €173,595 | -€28,754 | -14.2% |
| Deferred charges and accrued income | 490/1 | €157,589 | €90,322 | -€67,267 | -42.7% |
| Total equity and liabilities | 10/49 | €807,602 | €839,559 | +€31,956 | +4.0% |
| Equity | 10/15 | €712,188 | €806,697 | +€94,510 | +13.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €699,518 | €794,027 | +€94,510 | +13.5% |
| Tax-exempt reserves | 132 | €107,355 | €157,875 | +€50,520 | +47.1% |
| Distributable reserves | 133 | €592,163 | €636,152 | +€43,990 | +7.4% |
| Profit (loss) carried forward | 14 | €270 | €270 | = | 0.0% |
| Amounts payable | 17/49 | €95,415 | €32,862 | -€62,553 | -65.6% |
| Amounts payable after more than one year | 17 | €8,951 | - | -€8,951 | |
| Financial debts | 170/4 | €8,951 | - | -€8,951 | |
| Amounts payable within one year | 42/48 | €86,464 | €31,862 | -€54,602 | -63.2% |
| Current portion of amounts payable after more than one year | 42 | €37,985 | €8,951 | -€29,034 | -76.4% |
| Trade debts | 44 | €33,018 | €9,794 | -€23,224 | -70.3% |
| Suppliers | 440/4 | €33,018 | €9,794 | -€23,224 | -70.3% |
| Taxes, remuneration and social security | 45 | €13,961 | €11,617 | -€2,344 | -16.8% |
| Taxes | 450/3 | €13,961 | €11,617 | -€2,344 | -16.8% |
| Other amounts payable | 47/48 | €1,500 | €1,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,577 | €42,438 | -€140 | -0.3% |
| Other operating charges | 640/8 | €2,562 | €2,140 | -€423 | -16.5% |
| Gross operating margin | 9900 | €230,421 | €152,343 | -€78,078 | -33.9% |
| Operating profit (loss) | 9901 | €185,281 | €107,766 | -€77,516 | -41.8% |
| Financial income | 75/76B | €11,558 | €20,544 | +€8,986 | +77.7% |
| Recurring financial income | 75 | €11,558 | €20,544 | +€8,986 | +77.7% |
| Financial charges | 65/66B | €917 | €671 | -€246 | -26.9% |
| Recurring financial charges | 65 | €917 | €671 | -€246 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €195,922 | €127,639 | -€68,283 | -34.9% |
| Income taxes | 67/77 | €63,225 | €33,129 | -€30,096 | -47.6% |
| Profit (loss) for the period | 9904 | €132,697 | €94,510 | -€38,187 | -28.8% |
| Transfer from tax-exempt reserves | 789 | €103,300 | - | -€103,300 | |
| Transfer to tax-exempt reserves | 689 | €56,835 | €50,520 | -€6,315 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €179,162 | €43,990 | -€135,172 | -75.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.