DR. SORGELOOSE PETER: 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. SORGELOOSE PETER
Largest movements
- Cash +€218,988
up €218,988 (+50.0%), from €437,955 to €656,943
mainly Net result for the year (+€156,031) and Other debts (+€81,113)
- Receivables within one year -€50,634
down €50,634 (-74.2%), from €68,213 to €17,579
of which Other amounts receivable: -€37,080
- Tangible fixed assets -€19,060
down €19,060 (-22.2%), from €85,968 to €66,908
of which Land and buildings: -€15,983
- Other debts +€81,113
new in 2025: €81,113
- Tax, wage and social debts +€38,504
up €38,504 (+196%), from €19,654 to €58,158
of which Taxes: +€38,483
- Reserves +€27,889
up €27,889 (+5.0%), from €560,062 to €587,951
of which Distributable reserves: +€27,889
- Gross operating margin +€35,788
up €35,788 (+17.0%), from €210,159 to €245,947
- Taxes +€11,681
up €11,681 (+20.6%), from €56,802 to €68,483
- Depreciation -€5,125
down €5,125 (-21.2%), from €24,185 to €19,060
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 | €593,858 | €742,747 | +€148,890 | +25.1% |
| Fixed assets | 21/28 | €86,344 | €67,285 | -€19,060 | -22.1% |
| Tangible fixed assets | 22/27 | €85,968 | €66,908 | -€19,060 | -22.2% |
| Land and buildings | 22 | €74,499 | €58,517 | -€15,983 | -21.5% |
| Plant, machinery and equipment | 23 | €11,086 | €8,391 | -€2,695 | -24.3% |
| Furniture and vehicles | 24 | €383 | €0 | -€383 | -100% |
| Financial fixed assets | 28 | €376 | €376 | = | 0.0% |
| Current assets | 29/58 | €507,513 | €675,463 | +€167,950 | +33.1% |
| Amounts receivable within one year | 40/41 | €68,213 | €17,579 | -€50,634 | -74.2% |
| Trade receivables | 40 | €31,133 | €17,579 | -€13,554 | -43.5% |
| Other amounts receivable | 41 | €37,080 | €0 | -€37,080 | -100% |
| Cash at bank and in hand | 54/58 | €437,955 | €656,943 | +€218,988 | +50.0% |
| Deferred charges and accrued income | 490/1 | €1,346 | €942 | -€405 | -30.1% |
| Total equity and liabilities | 10/49 | €593,858 | €742,747 | +€148,890 | +25.1% |
| Equity | 10/15 | €572,762 | €600,651 | +€27,889 | +4.9% |
| Contributions | 10/11 | €12,700 | €12,700 | = | 0.0% |
| Reserves | 13 | €560,062 | €587,951 | +€27,889 | +5.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €560,062 | €587,951 | +€27,889 | +5.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €21,096 | €142,097 | +€121,001 | +574% |
| Amounts payable within one year | 42/48 | €21,096 | €142,097 | +€121,001 | +574% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,442 | €2,266 | +€824 | +57.1% |
| Suppliers | 440/4 | €1,442 | €2,266 | +€824 | +57.1% |
| Advances received on contracts in progress | 46 | - | €560 | +€560 | |
| Taxes, remuneration and social security | 45 | €19,654 | €58,158 | +€38,504 | +196% |
| Taxes | 450/3 | €16,781 | €55,264 | +€38,483 | +229% |
| Remuneration and social security | 454/9 | €2,873 | €2,894 | +€21 | +0.7% |
| Other amounts payable | 47/48 | - | €81,113 | +€81,113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,185 | €19,060 | -€5,125 | -21.2% |
| Other operating charges | 640/8 | €2,684 | €2,539 | -€145 | -5.4% |
| Gross operating margin | 9900 | €210,159 | €245,947 | +€35,788 | +17.0% |
| Operating profit (loss) | 9901 | €183,290 | €224,349 | +€41,059 | +22.4% |
| Financial income | 75/76B | €2,630 | €383 | -€2,247 | -85.4% |
| Recurring financial income | 75 | €2,630 | €383 | -€2,247 | -85.4% |
| Financial charges | 65/66B | €76 | €218 | +€142 | +187% |
| Recurring financial charges | 65 | €76 | €218 | +€142 | +187% |
| Profit (loss) for the period before taxes | 9903 | €185,845 | €224,514 | +€38,670 | +20.8% |
| Income taxes | 67/77 | €56,802 | €68,483 | +€11,681 | +20.6% |
| Profit (loss) for the period | 9904 | €129,043 | €156,031 | +€26,988 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €129,043 | €156,031 | +€26,988 | +20.9% |
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 13 October 2026 via checked.be.