Dr. Schroe Herman: 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. Schroe Herman
Largest movements
- Current investments +€130,218
up €130,218 (+9.8%), from €1.3m to €1.5m
- Cash -€105,498
down €105,498 (-39.2%), from €269,167 to €163,669
mainly Current investments (-€130,218) and Receivables within one year (-€65,682)
- Receivables within one year +€65,682
up €65,682 (+518%), from €12,688 to €78,370
of which Trade receivables: +€41,393
- Tangible fixed assets -€19,570
down €19,570 (-24.7%), from €79,285 to €59,715
of which Furniture and vehicles: -€16,883
- Reserves +€58,870
up €58,870 (+4.0%), from €1.5m to €1.5m
of which Non-distributable reserves: +€58,870
- Financial income -€55,471
down €55,471 (-63.5%), from €87,391 to €31,920
of which Non-recurring financial income: -€82,048
- Gross operating margin -€52,502
down €52,502 (-37.6%), from €139,669 to €87,167
- Taxes -€20,911
down €20,911 (-44.6%), from €46,844 to €25,933
- Other operating charges -€1,993
down €1,993 (-20.0%), from €9,942 to €7,949
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 | €1,697,878 | €1,762,876 | +€64,998 | +3.8% |
| Fixed assets | 21/28 | €79,285 | €59,715 | -€19,570 | -24.7% |
| Tangible fixed assets | 22/27 | €79,285 | €59,715 | -€19,570 | -24.7% |
| Land and buildings | 22 | €48,900 | €43,581 | -€5,318 | -10.9% |
| Plant, machinery and equipment | 23 | €1,686 | €4,318 | +€2,632 | +156% |
| Furniture and vehicles | 24 | €28,699 | €11,816 | -€16,883 | -58.8% |
| Current assets | 29/58 | €1,618,593 | €1,703,161 | +€84,568 | +5.2% |
| Amounts receivable within one year | 40/41 | €12,688 | €78,370 | +€65,682 | +518% |
| Trade receivables | 40 | €893 | €42,287 | +€41,393 | +4,633% |
| Other amounts receivable | 41 | €11,794 | €36,083 | +€24,289 | +206% |
| Current investments | 50/53 | €1,329,559 | €1,459,777 | +€130,218 | +9.8% |
| Cash at bank and in hand | 54/58 | €269,167 | €163,669 | -€105,498 | -39.2% |
| Deferred charges and accrued income | 490/1 | €7,180 | €1,346 | -€5,834 | -81.3% |
| Total equity and liabilities | 10/49 | €1,697,878 | €1,762,876 | +€64,998 | +3.8% |
| Equity | 10/15 | €1,659,900 | €1,718,770 | +€58,870 | +3.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,463,175 | €1,522,045 | +€58,870 | +4.0% |
| Non-distributable reserves | 130/1 | €1,461,315 | €1,520,185 | +€58,870 | +4.0% |
| Other | 1319 | €1,461,315 | €1,520,185 | +€58,870 | +4.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,125 | €178,125 | = | 0.0% |
| Amounts payable | 17/49 | €37,978 | €44,106 | +€6,128 | +16.1% |
| Amounts payable within one year | 42/48 | €35,568 | €39,230 | +€3,662 | +10.3% |
| Trade debts | 44 | €13,746 | €8,198 | -€5,548 | -40.4% |
| Suppliers | 440/4 | €13,746 | €8,198 | -€5,548 | -40.4% |
| Taxes, remuneration and social security | 45 | €21,823 | €31,032 | +€9,209 | +42.2% |
| Taxes | 450/3 | €21,823 | €31,032 | +€9,209 | +42.2% |
| Accrued charges and deferred income | 492/3 | €2,410 | €4,876 | +€2,466 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,533 | €23,057 | +€523 | +2.3% |
| Other operating charges | 640/8 | €9,942 | €7,949 | -€1,993 | -20.0% |
| Non-recurring operating charges | 66A | €4,247 | - | -€4,247 | |
| Gross operating margin | 9900 | €139,669 | €87,167 | -€52,502 | -37.6% |
| Operating profit (loss) | 9901 | €102,947 | €56,162 | -€46,785 | -45.4% |
| Financial income | 75/76B | €87,391 | €31,920 | -€55,471 | -63.5% |
| Recurring financial income | 75 | €5,343 | €31,920 | +€26,577 | +497% |
| Non-recurring financial income | 76B | €82,048 | - | -€82,048 | |
| Financial charges | 65/66B | €2,751 | €3,279 | +€527 | +19.2% |
| Recurring financial charges | 65 | €2,751 | €3,279 | +€527 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €187,587 | €84,804 | -€102,783 | -54.8% |
| Income taxes | 67/77 | €46,844 | €25,933 | -€20,911 | -44.6% |
| Profit (loss) for the period | 9904 | €140,743 | €58,870 | -€81,872 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €140,743 | €58,870 | -€81,872 | -58.2% |
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 29 October 2026 via checked.be.