DR. STEFAN BACKX: 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. STEFAN BACKX
Largest movements
- Current investments +€323,367
up €323,367 (+65.4%), from €494,819 to €818,186
- Tangible fixed assets -€204,612
down €204,612 (-81.2%), from €251,854 to €47,241
of which Land and buildings: -€200,054
- Cash +€34,624
up €34,624 (+15.6%), from €221,613 to €256,237
mainly Net result for the year (+€224,470) and Investment in fixed assets (net) (+€192,728)
- Receivables within one year -€27,020
down €27,020 (-64.3%), from €42,020 to €15,000
of which Trade receivables: -€25,465
- Reserves +€224,470
up €224,470 (+22.5%), from €997,488 to €1.2m
of which Distributable reserves: +€224,470
- Debts after one year -€58,330
no longer reported in 2024 (was €58,330)
- Short-term financial debts -€17,553
no longer reported in 2024 (was €17,553)
- Tax, wage and social debts -€16,866
down €16,866 (-41.5%), from €40,639 to €23,774
- Depreciation -€20,821
down €20,821 (-72.7%), from €28,655 to €7,833
- Financial income +€16,336
up €16,336 (+123.9%), from €13,186 to €29,522
- Gross operating margin +€11,570
up €11,570 (+3.9%), from €299,957 to €311,527
- Taxes +€8,530
up €8,530 (+9.4%), from €90,846 to €99,376
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,131,402 | €1,260,550 | +€129,148 | +11.4% |
| Fixed assets | 21/28 | €368,834 | €168,273 | -€200,561 | -54.4% |
| Tangible fixed assets | 22/27 | €251,854 | €47,241 | -€204,612 | -81.2% |
| Land and buildings | 22 | €237,844 | €37,791 | -€200,054 | -84.1% |
| Plant, machinery and equipment | 23 | €9,899 | €6,775 | -€3,125 | -31.6% |
| Furniture and vehicles | 24 | €4,110 | €2,676 | -€1,434 | -34.9% |
| Financial fixed assets | 28 | €116,980 | €121,032 | +€4,051 | +3.5% |
| Current assets | 29/58 | €762,568 | €1,092,277 | +€329,709 | +43.2% |
| Amounts receivable within one year | 40/41 | €42,020 | €15,000 | -€27,020 | -64.3% |
| Trade receivables | 40 | €25,465 | - | -€25,465 | |
| Other amounts receivable | 41 | €16,555 | €15,000 | -€1,555 | -9.4% |
| Current investments | 50/53 | €494,819 | €818,186 | +€323,367 | +65.4% |
| Cash at bank and in hand | 54/58 | €221,613 | €256,237 | +€34,624 | +15.6% |
| Deferred charges and accrued income | 490/1 | €4,116 | €2,854 | -€1,263 | -30.7% |
| Total equity and liabilities | 10/49 | €1,131,402 | €1,260,550 | +€129,148 | +11.4% |
| Equity | 10/15 | €1,010,188 | €1,234,658 | +€224,470 | +22.2% |
| Contributions | 10/11 | €12,700 | €12,700 | = | 0.0% |
| Contributions outside capital | 11 | €12,700 | €12,700 | = | 0.0% |
| Other | 1109/19 | €12,700 | €12,700 | = | 0.0% |
| Reserves | 13 | €997,488 | €1,221,958 | +€224,470 | +22.5% |
| Non-distributable reserves | 130/1 | €8,995 | €8,995 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,995 | €8,995 | = | 0.0% |
| Tax-exempt reserves | 132 | €797 | €797 | = | 0.0% |
| Distributable reserves | 133 | €987,695 | €1,212,165 | +€224,470 | +22.7% |
| Amounts payable | 17/49 | €121,214 | €25,892 | -€95,322 | -78.6% |
| Amounts payable after more than one year | 17 | €58,330 | - | -€58,330 | |
| Financial debts | 170/4 | €58,330 | - | -€58,330 | |
| Amounts payable within one year | 42/48 | €61,207 | €25,892 | -€35,315 | -57.7% |
| Financial debts | 43 | €17,553 | - | -€17,553 | |
| Credit institutions | 430/8 | €17,553 | - | -€17,553 | |
| Trade debts | 44 | €3,015 | €1,860 | -€1,156 | -38.3% |
| Suppliers | 440/4 | €3,015 | €1,860 | -€1,156 | -38.3% |
| Taxes, remuneration and social security | 45 | €40,639 | €23,774 | -€16,866 | -41.5% |
| Taxes | 450/3 | €40,639 | €23,774 | -€16,866 | -41.5% |
| Other amounts payable | 47/48 | - | €259 | +€259 | |
| Accrued charges and deferred income | 492/3 | €1,677 | - | -€1,677 | |
| Non-recurring operating income | 76A | - | €82,472 | +€82,472 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,655 | €7,833 | -€20,821 | -72.7% |
| Other operating charges | 640/8 | €893 | €3,289 | +€2,396 | +268.5% |
| Gross operating margin | 9900 | €299,957 | €311,527 | +€11,570 | +3.9% |
| Operating profit (loss) | 9901 | €270,410 | €300,404 | +€29,995 | +11.1% |
| Financial income | 75/76B | €13,186 | €29,522 | +€16,336 | +123.9% |
| Recurring financial income | 75 | €13,186 | €29,522 | +€16,336 | +123.9% |
| Financial charges | 65/66B | €4,186 | €6,080 | +€1,894 | +45.3% |
| Recurring financial charges | 65 | €4,186 | €6,080 | +€1,894 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €279,410 | €323,846 | +€44,437 | +15.9% |
| Income taxes | 67/77 | €90,846 | €99,376 | +€8,530 | +9.4% |
| Profit (loss) for the period | 9904 | €188,563 | €224,470 | +€35,907 | +19.0% |
| Transfer to tax-exempt reserves | 689 | €39 | - | -€39 | |
| Profit (loss) for the period to be appropriated | 9905 | €188,525 | €224,470 | +€35,946 | +19.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.