DR. SNEYERS: 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. SNEYERS
Largest movements
- Cash -€347,162
down €347,162 (-72.2%), from €480,963 to €133,801
mainly Current investments (-€249,976) and Contributions, distributions and other (-€123,770)
- Current investments +€249,976
up €249,976 (+1,605%), from €15,572 to €265,548
- Receivables within one year -€47,472
down €47,472 (-79.4%), from €59,779 to €12,308
of which Other amounts receivable: -€47,784
- Deferred charges and accrued income +€9,170
up €9,170 (+15.9%), from €57,532 to €66,702
- Tangible fixed assets -€8,808
down €8,808 (-14.7%), from €59,943 to €51,136
of which Furniture and vehicles: -€11,124
- Reserves -€80,584
down €80,584 (-13.6%), from €593,901 to €513,317
- Short-term financial debts -€60,000
down €60,000 (-100%), from €60,000 to €0
- Trade debts +€27,562
up €27,562 (+836%), from €3,297 to €30,859
- Tax, wage and social debts -€26,227
down €26,227 (-59.5%), from €44,095 to €17,868
- Debts after one year -€11,090
down €11,090 (-41.8%), from €26,555 to €15,465
- Gross operating margin -€81,524
down €81,524 (-51.9%), from €157,116 to €75,592
- Taxes -€25,137
down €25,137 (-58.0%), from €43,366 to €18,229
- Financial charges +€1,682
up €1,682 (+78.4%), from €2,145 to €3,827
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 | €757,119 | €612,824 | -€144,295 | -19.1% |
| Fixed assets | 21/28 | €60,043 | €51,236 | -€8,808 | -14.7% |
| Tangible fixed assets | 22/27 | €59,943 | €51,136 | -€8,808 | -14.7% |
| Land and buildings | 22 | €22,140 | €19,794 | -€2,346 | -10.6% |
| Plant, machinery and equipment | 23 | - | €5,006 | +€5,006 | |
| Furniture and vehicles | 24 | €36,944 | €25,820 | -€11,124 | -30.1% |
| Other tangible fixed assets | 26 | €859 | €515 | -€344 | -40.1% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €697,076 | €561,588 | -€135,488 | -19.4% |
| Amounts receivable after more than one year | 29 | €83,229 | €83,229 | = | 0.0% |
| Other amounts receivable | 291 | €83,229 | €83,229 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,779 | €12,308 | -€47,472 | -79.4% |
| Trade receivables | 40 | - | €312 | +€312 | |
| Other amounts receivable | 41 | €59,779 | €11,996 | -€47,784 | -79.9% |
| Current investments | 50/53 | €15,572 | €265,548 | +€249,976 | +1,605% |
| Cash at bank and in hand | 54/58 | €480,963 | €133,801 | -€347,162 | -72.2% |
| Deferred charges and accrued income | 490/1 | €57,532 | €66,702 | +€9,170 | +15.9% |
| Total equity and liabilities | 10/49 | €757,119 | €612,824 | -€144,295 | -19.1% |
| Equity | 10/15 | €612,501 | €531,917 | -€80,584 | -13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €593,901 | €513,317 | -€80,584 | -13.6% |
| Distributable reserves | 133 | €593,901 | €513,317 | -€80,584 | -13.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €144,618 | €80,907 | -€63,711 | -44.1% |
| Amounts payable after more than one year | 17 | €26,555 | €15,465 | -€11,090 | -41.8% |
| Financial debts | 170/4 | €26,555 | €15,465 | -€11,090 | -41.8% |
| Amounts payable within one year | 42/48 | €118,063 | €65,442 | -€52,621 | -44.6% |
| Current portion of amounts payable after more than one year | 42 | €10,672 | €11,090 | +€418 | +3.9% |
| Financial debts | 43 | €60,000 | €0 | -€60,000 | -100% |
| Credit institutions | 430/8 | €60,000 | €0 | -€60,000 | -100% |
| Trade debts | 44 | €3,297 | €30,859 | +€27,562 | +836% |
| Suppliers | 440/4 | €3,297 | €30,859 | +€27,562 | +836% |
| Taxes, remuneration and social security | 45 | €44,095 | €17,868 | -€26,227 | -59.5% |
| Taxes | 450/3 | €44,095 | €17,868 | -€26,227 | -59.5% |
| Other amounts payable | 47/48 | - | €5,625 | +€5,625 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,814 | €14,952 | +€1,138 | +8.2% |
| Other operating charges | 640/8 | €978 | €1,029 | +€52 | +5.3% |
| Gross operating margin | 9900 | €157,116 | €75,592 | -€81,524 | -51.9% |
| Operating profit (loss) | 9901 | €142,324 | €59,610 | -€82,713 | -58.1% |
| Financial income | 75/76B | €4,399 | €5,631 | +€1,232 | +28.0% |
| Recurring financial income | 75 | €4,399 | €5,631 | +€1,232 | +28.0% |
| Financial charges | 65/66B | €2,145 | €3,827 | +€1,682 | +78.4% |
| Recurring financial charges | 65 | €2,145 | €3,827 | +€1,682 | +78.4% |
| Profit (loss) for the period before taxes | 9903 | €144,578 | €61,415 | -€83,163 | -57.5% |
| Income taxes | 67/77 | €43,366 | €18,229 | -€25,137 | -58.0% |
| Profit (loss) for the period | 9904 | €101,212 | €43,185 | -€58,026 | -57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €101,212 | €43,185 | -€58,026 | -57.3% |
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 18 October 2026 via checked.be.