Dr. Sandrien Abbeel: 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. Sandrien Abbeel
Largest movements
- Cash -€88,428
down €88,428 (-83.4%), from €106,038 to €17,610
mainly Contributions, distributions and other (-€163,413) and Receivables within one year (-€3,024)
- Receivables after one year -€8,928
down €8,928 (-100%), from €8,928 to €0
- Receivables within one year +€3,024
up €3,024 (+60.0%), from €5,040 to €8,064
of which Other amounts receivable: +€4,030
- Reserves -€91,673
down €91,673 (-51.5%), from €177,982 to €86,309
- Depreciation -€4,770
down €4,770 (-76.2%), from €6,263 to €1,493
- Gross operating margin +€3,964
up €3,964 (+4.4%), from €89,535 to €93,499
- Taxes +€1,024
up €1,024 (+5.6%), from €18,374 to €19,398
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 | €183,137 | €90,002 | -€93,135 | -50.9% |
| Fixed assets | 21/28 | €1,759 | €1,565 | -€194 | -11.0% |
| Tangible fixed assets | 22/27 | €1,759 | €1,565 | -€194 | -11.0% |
| Plant, machinery and equipment | 23 | €1,300 | €1,565 | +€264 | +20.3% |
| Furniture and vehicles | 24 | €458 | €0 | -€458 | -100% |
| Current assets | 29/58 | €181,379 | €88,437 | -€92,941 | -51.2% |
| Amounts receivable after more than one year | 29 | €8,928 | €0 | -€8,928 | -100% |
| Other amounts receivable | 291 | €8,928 | €0 | -€8,928 | -100% |
| Amounts receivable within one year | 40/41 | €5,040 | €8,064 | +€3,024 | +60.0% |
| Trade receivables | 40 | €1,006 | €0 | -€1,006 | -100% |
| Other amounts receivable | 41 | €4,035 | €8,064 | +€4,030 | +99.9% |
| Cash at bank and in hand | 54/58 | €106,038 | €17,610 | -€88,428 | -83.4% |
| Deferred charges and accrued income | 490/1 | €61,373 | €62,764 | +€1,391 | +2.3% |
| Total equity and liabilities | 10/49 | €183,137 | €90,002 | -€93,135 | -50.9% |
| Equity | 10/15 | €180,982 | €89,309 | -€91,673 | -50.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €177,982 | €86,309 | -€91,673 | -51.5% |
| Distributable reserves | 133 | €177,982 | €86,309 | -€91,673 | -51.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,156 | €693 | -€1,462 | -67.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,156 | €693 | -€1,462 | -67.8% |
| Current portion of amounts payable after more than one year | 42 | €1,396 | €0 | -€1,396 | -100% |
| Trade debts | 44 | €760 | €213 | -€547 | -71.9% |
| Suppliers | 440/4 | €760 | €213 | -€547 | -71.9% |
| Taxes, remuneration and social security | 45 | - | €480 | +€480 | |
| Remuneration and social security | 454/9 | - | €480 | +€480 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,263 | €1,493 | -€4,770 | -76.2% |
| Other operating charges | 640/8 | €928 | €957 | +€29 | +3.1% |
| Gross operating margin | 9900 | €89,535 | €93,499 | +€3,964 | +4.4% |
| Operating profit (loss) | 9901 | €82,344 | €91,049 | +€8,705 | +10.6% |
| Financial income | 75/76B | €237 | €159 | -€78 | -32.8% |
| Recurring financial income | 75 | €237 | €159 | -€78 | -32.8% |
| Financial charges | 65/66B | €767 | €71 | -€696 | -90.8% |
| Recurring financial charges | 65 | €767 | €71 | -€696 | -90.8% |
| Profit (loss) for the period before taxes | 9903 | €81,815 | €91,138 | +€9,323 | +11.4% |
| Income taxes | 67/77 | €18,374 | €19,398 | +€1,024 | +5.6% |
| Profit (loss) for the period | 9904 | €63,441 | €71,740 | +€8,299 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,441 | €71,740 | +€8,299 | +13.1% |
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 25 October 2026 via checked.be.