DR. SIMON DEGANDT: 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. SIMON DEGANDT
Largest movements
- Receivables within one year +€293,612
up €293,612 (+5,027%), from €5,840 to €299,453
of which Trade receivables: +€299,453
- Cash +€242,642
up €242,642 (+125%), from €194,700 to €437,342
mainly Net result for the year (+€898,846) and Other debts (+€518,654)
- Tangible fixed assets -€24,324
down €24,324 (-21.6%), from €112,414 to €88,090
of which Furniture and vehicles: -€21,111
- Other debts +€518,654
up €518,654 (+127%), from €408,418 to €927,072
- Current portion of long-term debt -€17,515
down €17,515 (-31.7%), from €55,216 to €37,701
- Tax, wage and social debts +€16,486
new in 2025: €16,486
- Gross operating margin +€704,635
up €704,635 (+136%), from €519,412 to €1.2m
- Taxes +€179,515
up €179,515 (+150%), from €120,053 to €299,568
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 | €490,399 | €1,002,931 | +€512,531 | +105% |
| Fixed assets | 21/28 | €112,414 | €88,090 | -€24,324 | -21.6% |
| Tangible fixed assets | 22/27 | €112,414 | €88,090 | -€24,324 | -21.6% |
| Plant, machinery and equipment | 23 | €1,488 | €1,304 | -€184 | -12.4% |
| Furniture and vehicles | 24 | €90,144 | €69,033 | -€21,111 | -23.4% |
| Other tangible fixed assets | 26 | €20,782 | €17,753 | -€3,029 | -14.6% |
| Current assets | 29/58 | €377,985 | €914,840 | +€536,855 | +142% |
| Amounts receivable after more than one year | 29 | €172,000 | €172,000 | = | 0.0% |
| Other amounts receivable | 291 | €172,000 | €172,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,840 | €299,453 | +€293,612 | +5,027% |
| Trade receivables | 40 | - | €299,453 | +€299,453 | |
| Other amounts receivable | 41 | €5,840 | - | -€5,840 | |
| Cash at bank and in hand | 54/58 | €194,700 | €437,342 | +€242,642 | +125% |
| Deferred charges and accrued income | 490/1 | €5,444 | €6,046 | +€601 | +11.0% |
| Total equity and liabilities | 10/49 | €490,399 | €1,002,931 | +€512,531 | +105% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €471,799 | €984,331 | +€512,531 | +109% |
| Amounts payable after more than one year | 17 | €5,999 | - | -€5,999 | |
| Financial debts | 170/4 | €5,999 | - | -€5,999 | |
| Amounts payable within one year | 42/48 | €465,801 | €984,331 | +€518,530 | +111% |
| Current portion of amounts payable after more than one year | 42 | €55,216 | €37,701 | -€17,515 | -31.7% |
| Trade debts | 44 | €2,166 | €3,072 | +€906 | +41.8% |
| Suppliers | 440/4 | €2,166 | €3,072 | +€906 | +41.8% |
| Taxes, remuneration and social security | 45 | - | €16,486 | +€16,486 | |
| Taxes | 450/3 | - | €16,486 | +€16,486 | |
| Other amounts payable | 47/48 | €408,418 | €927,072 | +€518,654 | +127% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,939 | €26,389 | -€549 | -2.0% |
| Other operating charges | 640/8 | €760 | €598 | -€161 | -21.2% |
| Gross operating margin | 9900 | €519,412 | €1,224,046 | +€704,635 | +136% |
| Operating profit (loss) | 9901 | €491,713 | €1,197,059 | +€705,346 | +143% |
| Financial income | 75/76B | €7,671 | €4,693 | -€2,978 | -38.8% |
| Recurring financial income | 75 | €7,671 | €4,693 | -€2,978 | -38.8% |
| Financial charges | 65/66B | €3,687 | €3,338 | -€350 | -9.5% |
| Recurring financial charges | 65 | €3,687 | €3,338 | -€350 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €495,697 | €1,198,414 | +€702,717 | +142% |
| Income taxes | 67/77 | €120,053 | €299,568 | +€179,515 | +150% |
| Profit (loss) for the period | 9904 | €375,644 | €898,846 | +€523,203 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €375,644 | €898,846 | +€523,203 | +139% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.