DR. S. YOSHIMI: 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. YOSHIMI
Largest movements
- Current investments +€100,493
up €100,493 (+233%), from €43,100 to €143,593
- Receivables within one year +€33,472
up €33,472 (+4.5%), from €736,299 to €769,771
of which Other amounts receivable: +€33,472
- Financial fixed assets +€15,750
up €15,750 (+28.0%), from €56,252 to €72,002
- Cash +€11,605
up €11,605 (+24.0%), from €48,427 to €60,032
mainly Net result for the year (+€104,233) and Tax, wage and social debts (+€49,137)
- Reserves +€104,233
up €104,233 (+19.5%), from €535,139 to €639,372
of which Tax-exempt reserves: +€104,233
- Tax, wage and social debts +€49,137
up €49,137 (+347%), from €14,159 to €63,296
- Gross operating margin +€24,276
up €24,276 (+10.8%), from €225,371 to €249,647
- Financial income +€10,821
up €10,821 (+104%), from €10,376 to €21,197
- Taxes +€9,978
up €9,978 (+25.5%), from €39,159 to €49,137
- Staff costs +€7,223
up €7,223 (+10.4%), from €69,612 to €76,835
- Depreciation +€2,517
up €2,517 (+7.4%), from €34,090 to €36,608
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 | €999,069 | €1,150,499 | +€151,430 | +15.2% |
| Fixed assets | 21/28 | €171,243 | €177,103 | +€5,860 | +3.4% |
| Tangible fixed assets | 22/27 | €114,990 | €105,100 | -€9,890 | -8.6% |
| Land and buildings | 22 | €80,060 | €62,385 | -€17,675 | -22.1% |
| Plant, machinery and equipment | 23 | €16,887 | €15,095 | -€1,792 | -10.6% |
| Furniture and vehicles | 24 | €18,043 | €27,620 | +€9,577 | +53.1% |
| Financial fixed assets | 28 | €56,252 | €72,002 | +€15,750 | +28.0% |
| Current assets | 29/58 | €827,826 | €973,397 | +€145,570 | +17.6% |
| Amounts receivable within one year | 40/41 | €736,299 | €769,771 | +€33,472 | +4.5% |
| Trade receivables | 40 | €42,300 | €42,300 | = | 0.0% |
| Other amounts receivable | 41 | €693,999 | €727,471 | +€33,472 | +4.8% |
| Current investments | 50/53 | €43,100 | €143,593 | +€100,493 | +233% |
| Cash at bank and in hand | 54/58 | €48,427 | €60,032 | +€11,605 | +24.0% |
| Total equity and liabilities | 10/49 | €999,069 | €1,150,499 | +€151,430 | +15.2% |
| Equity | 10/15 | €950,048 | €1,054,281 | +€104,233 | +11.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €535,139 | €639,372 | +€104,233 | +19.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €506,000 | €610,233 | +€104,233 | +20.6% |
| Distributable reserves | 133 | €27,139 | €27,139 | = | 0.0% |
| Profit (loss) carried forward | 14 | €394,909 | €394,909 | = | 0.0% |
| Provisions and deferred taxes | 16 | €10,395 | €7,251 | -€3,143 | -30.2% |
| Provisions for liabilities and charges | 160/5 | €10,395 | €7,251 | -€3,143 | -30.2% |
| Environmental obligations | 163 | €10,395 | €7,251 | -€3,143 | -30.2% |
| Amounts payable | 17/49 | €38,627 | €88,967 | +€50,340 | +130% |
| Amounts payable after more than one year | 17 | €834 | - | -€834 | |
| Financial debts | 170/4 | €834 | - | -€834 | |
| Amounts payable within one year | 42/48 | €37,793 | €86,116 | +€48,323 | +128% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €834 | -€9,166 | -91.7% |
| Financial debts | 43 | €210 | €1,005 | +€795 | +379% |
| Credit institutions | 430/8 | €210 | €1,005 | +€795 | +379% |
| Trade debts | 44 | €13,424 | €20,981 | +€7,557 | +56.3% |
| Suppliers | 440/4 | €13,424 | €20,981 | +€7,557 | +56.3% |
| Taxes, remuneration and social security | 45 | €14,159 | €63,296 | +€49,137 | +347% |
| Taxes | 450/3 | €14,159 | €63,296 | +€49,137 | +347% |
| Accrued charges and deferred income | 492/3 | - | €2,851 | +€2,851 | |
| Remuneration, social security and pensions | 62 | €69,612 | €76,835 | +€7,223 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,090 | €36,608 | +€2,517 | +7.4% |
| Other operating charges | 640/8 | €5,362 | €3,664 | -€1,698 | -31.7% |
| Gross operating margin | 9900 | €225,371 | €249,647 | +€24,276 | +10.8% |
| Operating profit (loss) | 9901 | €116,306 | €132,540 | +€16,234 | +14.0% |
| Financial income | 75/76B | €10,376 | €21,197 | +€10,821 | +104% |
| Recurring financial income | 75 | €10,376 | €21,197 | +€10,821 | +104% |
| Financial charges | 65/66B | €643 | €366 | -€277 | -43.0% |
| Recurring financial charges | 65 | €643 | €366 | -€277 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €126,039 | €153,370 | +€27,331 | +21.7% |
| Income taxes | 67/77 | €39,159 | €49,137 | +€9,978 | +25.5% |
| Profit (loss) for the period | 9904 | €86,880 | €104,233 | +€17,353 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,880 | €104,233 | +€17,353 | +20.0% |
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.