Dr. S. Helsen: 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. Helsen
Largest movements
- Cash +€149,700
up €149,700 (+163%), from €91,639 to €241,339
mainly Other debts (+€353,406) and Net result for the year (+€225,482)
- Deferred charges and accrued income +€29,336
up €29,336 (+12.9%), from €226,874 to €256,210
- Receivables within one year -€14,618
down €14,618 (-86.6%), from €16,884 to €2,267
of which Other amounts receivable: -€13,688
- Other debts +€353,406
up €353,406, from €0 to €353,406
- Reserves -€190,289
down €190,289 (-44.6%), from €426,837 to €236,548
- Tax, wage and social debts +€12,699
up €12,699 (+48.2%), from €26,327 to €39,026
- Debts after one year -€8,521
down €8,521 (-100%), from €8,521 to €0
- Current portion of long-term debt -€8,389
down €8,389 (-49.6%), from €16,910 to €8,521
- Gross operating margin +€15,269
up €15,269 (+5.1%), from €300,747 to €316,016
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 | €483,357 | €642,399 | +€159,042 | +32.9% |
| Fixed assets | 21/28 | €26,071 | €19,690 | -€6,381 | -24.5% |
| Tangible fixed assets | 22/27 | €26,071 | €19,690 | -€6,381 | -24.5% |
| Furniture and vehicles | 24 | €24,590 | €7,938 | -€16,652 | -67.7% |
| Other tangible fixed assets | 26 | €1,481 | €11,752 | +€10,271 | +694% |
| Current assets | 29/58 | €457,286 | €622,708 | +€165,423 | +36.2% |
| Amounts receivable within one year | 40/41 | €16,884 | €2,267 | -€14,618 | -86.6% |
| Trade receivables | 40 | €930 | €0 | -€930 | -100% |
| Other amounts receivable | 41 | €15,955 | €2,267 | -€13,688 | -85.8% |
| Current investments | 50/53 | €121,888 | €122,892 | +€1,005 | +0.8% |
| Cash at bank and in hand | 54/58 | €91,639 | €241,339 | +€149,700 | +163% |
| Deferred charges and accrued income | 490/1 | €226,874 | €256,210 | +€29,336 | +12.9% |
| Total equity and liabilities | 10/49 | €483,357 | €642,399 | +€159,042 | +32.9% |
| Equity | 10/15 | €427,837 | €237,548 | -€190,289 | -44.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €426,837 | €236,548 | -€190,289 | -44.6% |
| Distributable reserves | 133 | €426,837 | €236,548 | -€190,289 | -44.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €55,520 | €404,851 | +€349,332 | +629% |
| Amounts payable after more than one year | 17 | €8,521 | €0 | -€8,521 | -100% |
| Financial debts | 170/4 | €8,521 | €0 | -€8,521 | -100% |
| Amounts payable within one year | 42/48 | €46,474 | €404,455 | +€357,981 | +770% |
| Current portion of amounts payable after more than one year | 42 | €16,910 | €8,521 | -€8,389 | -49.6% |
| Trade debts | 44 | €3,237 | €3,502 | +€265 | +8.2% |
| Suppliers | 440/4 | €3,237 | €3,502 | +€265 | +8.2% |
| Taxes, remuneration and social security | 45 | €26,327 | €39,026 | +€12,699 | +48.2% |
| Taxes | 450/3 | €26,327 | €39,026 | +€12,699 | +48.2% |
| Other amounts payable | 47/48 | €0 | €353,406 | +€353,406 | |
| Accrued charges and deferred income | 492/3 | €525 | €396 | -€129 | -24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,363 | €17,396 | +€33 | +0.2% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €300,747 | €316,016 | +€15,269 | +5.1% |
| Operating profit (loss) | 9901 | €282,815 | €298,035 | +€15,220 | +5.4% |
| Financial income | 75/76B | €4,496 | €2,278 | -€2,217 | -49.3% |
| Recurring financial income | 75 | €4,496 | €2,278 | -€2,217 | -49.3% |
| Financial charges | 65/66B | €1,053 | €1,793 | +€740 | +70.3% |
| Recurring financial charges | 65 | €1,053 | €1,793 | +€740 | +70.3% |
| Profit (loss) for the period before taxes | 9903 | €286,258 | €298,520 | +€12,262 | +4.3% |
| Income taxes | 67/77 | €70,486 | €73,038 | +€2,552 | +3.6% |
| Profit (loss) for the period | 9904 | €215,772 | €225,482 | +€9,711 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €215,772 | €225,482 | +€9,711 | +4.5% |
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 17 October 2026 via checked.be.