Dr Sotiris D'hondt: 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 Sotiris D'hondt
Largest movements
- Receivables after one year +€45,000
new in 2025: €45,000
- Cash +€11,328
up €11,328 (+1,972%), from €574 to €11,902
mainly Net result for the year (+€56,213) and Tax, wage and social debts (+€3,494)
- Tangible fixed assets +€6,902
up €6,902 (+151%), from €4,561 to €11,463
of which Land and buildings: +€5,053
- Receivables within one year -€1,953
down €1,953 (-52.6%), from €3,716 to €1,762
of which Trade receivables: -€3,186
- Formation expenses -€1,082
no longer reported in 2025 (was €1,082)
- Reserves +€56,213
up €56,213 (+957%), from €5,871 to €62,084
- Tax, wage and social debts +€3,494
up €3,494 (+127%), from €2,750 to €6,244
- Gross operating margin +€66,253
up €66,253 (+836%), from €7,923 to €74,176
- Taxes +€13,613
up €13,613 (+926%), from €1,471 to €15,084
- Depreciation +€2,610
up €2,610 (+463%), from €564 to €3,174
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 | €11,450 | €70,740 | +€59,290 | +518% |
| Formation expenses | 20 | €1,082 | - | -€1,082 | |
| Fixed assets | 21/28 | €4,561 | €11,463 | +€6,902 | +151% |
| Tangible fixed assets | 22/27 | €4,561 | €11,463 | +€6,902 | +151% |
| Land and buildings | 22 | - | €5,053 | +€5,053 | |
| Plant, machinery and equipment | 23 | €2,447 | €2,335 | -€111 | -4.6% |
| Furniture and vehicles | 24 | €2,114 | €4,075 | +€1,961 | +92.8% |
| Current assets | 29/58 | €5,807 | €59,276 | +€53,470 | +921% |
| Amounts receivable after more than one year | 29 | - | €45,000 | +€45,000 | |
| Other amounts receivable | 291 | - | €45,000 | +€45,000 | |
| Amounts receivable within one year | 40/41 | €3,716 | €1,762 | -€1,953 | -52.6% |
| Trade receivables | 40 | €3,587 | €400 | -€3,186 | -88.8% |
| Other amounts receivable | 41 | €129 | €1,362 | +€1,233 | +954% |
| Cash at bank and in hand | 54/58 | €574 | €11,902 | +€11,328 | +1,972% |
| Deferred charges and accrued income | 490/1 | €1,517 | €612 | -€905 | -59.6% |
| Total equity and liabilities | 10/49 | €11,450 | €70,740 | +€59,290 | +518% |
| Equity | 10/15 | €7,871 | €64,084 | +€56,213 | +714% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €5,871 | €62,084 | +€56,213 | +957% |
| Distributable reserves | 133 | €5,871 | €62,084 | +€56,213 | +957% |
| Amounts payable | 17/49 | €3,579 | €6,656 | +€3,077 | +86.0% |
| Amounts payable within one year | 42/48 | €3,579 | €6,656 | +€3,077 | +86.0% |
| Trade debts | 44 | €150 | €412 | +€262 | +175% |
| Suppliers | 440/4 | €150 | €412 | +€262 | +175% |
| Taxes, remuneration and social security | 45 | €2,750 | €6,244 | +€3,494 | +127% |
| Taxes | 450/3 | €2,750 | €6,244 | +€3,494 | +127% |
| Other amounts payable | 47/48 | €679 | - | -€679 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €564 | €3,174 | +€2,610 | +463% |
| Other operating charges | 640/8 | - | €194 | +€194 | |
| Gross operating margin | 9900 | €7,923 | €74,176 | +€66,253 | +836% |
| Operating profit (loss) | 9901 | €7,359 | €70,808 | +€63,449 | +862% |
| Financial income | 75/76B | - | €556 | +€556 | |
| Recurring financial income | 75 | - | €556 | +€556 | |
| Financial charges | 65/66B | €17 | €67 | +€50 | +291% |
| Recurring financial charges | 65 | €17 | €67 | +€50 | +291% |
| Profit (loss) for the period before taxes | 9903 | €7,342 | €71,297 | +€63,955 | +871% |
| Income taxes | 67/77 | €1,471 | €15,084 | +€13,613 | +926% |
| Profit (loss) for the period | 9904 | €5,871 | €56,213 | +€50,342 | +857% |
| Profit (loss) for the period to be appropriated | 9905 | €5,871 | €56,213 | +€50,342 | +857% |
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 30 October 2026 via checked.be.