Dr. Stephan De Dyn: 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. Stephan De Dyn
Largest movements
- Current investments +€149,775
new in 2025: €149,775
- Cash +€62,468
up €62,468 (+23.5%), from €265,263 to €327,731
mainly Net result for the year (+€144,436) and Tax, wage and social debts (+€41,766)
- Reserves +€191,556
new in 2025: €191,556
- Profit (loss) carried forward -€47,120
down €47,120 (-24.6%), from €191,556 to €144,436
- Tax, wage and social debts +€41,766
up €41,766 (+64.3%), from €64,945 to €106,711
- Trade debts +€26,876
up €26,876 (+149%), from €18,034 to €44,910
- Gross operating margin -€65,245
down €65,245 (-25.0%), from €261,119 to €195,874
- Taxes -€16,145
down €16,145 (-26.3%), from €61,428 to €45,283
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 | €316,366 | €529,774 | +€213,408 | +67.5% |
| Fixed assets | 21/28 | €16,426 | €15,573 | -€853 | -5.2% |
| Tangible fixed assets | 22/27 | €15,736 | €14,883 | -€853 | -5.4% |
| Furniture and vehicles | 24 | €15,736 | €14,883 | -€853 | -5.4% |
| Financial fixed assets | 28 | €690 | €690 | = | 0.0% |
| Current assets | 29/58 | €299,940 | €514,201 | +€214,261 | +71.4% |
| Amounts receivable within one year | 40/41 | €3,128 | €2,861 | -€268 | -8.6% |
| Other amounts receivable | 41 | €3,128 | €2,861 | -€268 | -8.6% |
| Current investments | 50/53 | - | €149,775 | +€149,775 | |
| Cash at bank and in hand | 54/58 | €265,263 | €327,731 | +€62,468 | +23.5% |
| Deferred charges and accrued income | 490/1 | €31,549 | €33,835 | +€2,286 | +7.2% |
| Total equity and liabilities | 10/49 | €316,366 | €529,774 | +€213,408 | +67.5% |
| Equity | 10/15 | €195,556 | €339,992 | +€144,436 | +73.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | - | €191,556 | +€191,556 | |
| Distributable reserves | 133 | - | €191,556 | +€191,556 | |
| Profit (loss) carried forward | 14 | €191,556 | €144,436 | -€47,120 | -24.6% |
| Amounts payable | 17/49 | €120,810 | €189,782 | +€68,972 | +57.1% |
| Amounts payable within one year | 42/48 | €86,479 | €151,621 | +€65,142 | +75.3% |
| Trade debts | 44 | €18,034 | €44,910 | +€26,876 | +149% |
| Suppliers | 440/4 | €18,034 | €44,910 | +€26,876 | +149% |
| Taxes, remuneration and social security | 45 | €64,945 | €106,711 | +€41,766 | +64.3% |
| Taxes | 450/3 | €64,945 | €106,711 | +€41,766 | +64.3% |
| Other amounts payable | 47/48 | €3,500 | - | -€3,500 | |
| Accrued charges and deferred income | 492/3 | €34,331 | €38,161 | +€3,830 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,310 | €4,321 | +€2,012 | +87.1% |
| Other operating charges | 640/8 | €241 | €899 | +€658 | +273% |
| Gross operating margin | 9900 | €261,119 | €195,874 | -€65,245 | -25.0% |
| Operating profit (loss) | 9901 | €258,568 | €190,654 | -€67,915 | -26.3% |
| Financial income | 75/76B | €155 | €162 | +€7 | +4.8% |
| Recurring financial income | 75 | €155 | €162 | +€7 | +4.8% |
| Financial charges | 65/66B | €739 | €1,097 | +€358 | +48.4% |
| Recurring financial charges | 65 | €739 | €1,097 | +€358 | +48.4% |
| Profit (loss) for the period before taxes | 9903 | €257,984 | €189,719 | -€68,265 | -26.5% |
| Income taxes | 67/77 | €61,428 | €45,283 | -€16,145 | -26.3% |
| Profit (loss) for the period | 9904 | €196,556 | €144,436 | -€52,120 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | €196,556 | €144,436 | -€52,120 | -26.5% |
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 15 October 2026 via checked.be.