Dr. T. De Potter: 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. T. De Potter
Largest movements
- Receivables within one year +€308,926
up €308,926 (+527%), from €58,646 to €367,572
of which Other amounts receivable: +€304,401
- Tangible fixed assets +€138,928
up €138,928 (+1,951%), from €7,122 to €146,050
of which Furniture and vehicles: +€143,928
- Deferred charges and accrued income -€131,795
down €131,795 (-82.6%), from €159,490 to €27,696
- Current investments +€25,540
up €25,540 (+3.3%), from €772,090 to €797,629
- Other debts +€474,412
up €474,412, from €0 to €474,412
- Reserves -€282,972
down €282,972 (-21.1%), from €1.3m to €1.1m
of which Distributable reserves: -€282,972
- Debts after one year +€101,136
new in 2025: €101,136
- Current portion of long-term debt +€40,877
new in 2025: €40,877
- Gross operating margin -€84,628
down €84,628 (-28.1%), from €300,942 to €216,313
- Financial income +€58,508
up €58,508 (+237%), from €24,666 to €83,174
- Taxes -€27,318
down €27,318 (-26.5%), from €102,901 to €75,582
- Depreciation +€23,726
up €23,726 (+2,873%), from €826 to €24,551
- Financial charges -€8,574
down €8,574 (-55.4%), from €15,474 to €6,900
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 | €1,359,281 | €1,693,457 | +€334,176 | +24.6% |
| Fixed assets | 21/28 | €7,122 | €148,550 | +€141,428 | +1,986% |
| Tangible fixed assets | 22/27 | €7,122 | €146,050 | +€138,928 | +1,951% |
| Furniture and vehicles | 24 | €2,122 | €146,050 | +€143,928 | +6,782% |
| Assets under construction and advance payments | 27 | €5,000 | €0 | -€5,000 | -100% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €1,352,159 | €1,544,907 | +€192,748 | +14.3% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Other amounts receivable | 291 | €250,000 | €250,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,646 | €367,572 | +€308,926 | +527% |
| Trade receivables | 40 | €92 | €4,617 | +€4,525 | +4,910% |
| Other amounts receivable | 41 | €58,554 | €362,955 | +€304,401 | +520% |
| Current investments | 50/53 | €772,090 | €797,629 | +€25,540 | +3.3% |
| Cash at bank and in hand | 54/58 | €111,933 | €102,011 | -€9,922 | -8.9% |
| Deferred charges and accrued income | 490/1 | €159,490 | €27,696 | -€131,795 | -82.6% |
| Total equity and liabilities | 10/49 | €1,359,281 | €1,693,457 | +€334,176 | +24.6% |
| Equity | 10/15 | €1,354,035 | €1,071,063 | -€282,972 | -20.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,341,635 | €1,058,663 | -€282,972 | -21.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €1,341,635 | €1,058,663 | -€282,972 | -21.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,246 | €622,395 | +€617,149 | +11,764% |
| Amounts payable after more than one year | 17 | - | €101,136 | +€101,136 | |
| Financial debts | 170/4 | - | €101,136 | +€101,136 | |
| Amounts payable within one year | 42/48 | €769 | €519,499 | +€518,730 | +67,466% |
| Current portion of amounts payable after more than one year | 42 | - | €40,877 | +€40,877 | |
| Trade debts | 44 | €49 | €3,510 | +€3,462 | +7,111% |
| Suppliers | 440/4 | €49 | €3,510 | +€3,462 | +7,111% |
| Taxes, remuneration and social security | 45 | €720 | €700 | -€20 | -2.8% |
| Taxes | 450/3 | €720 | €700 | -€20 | -2.8% |
| Other amounts payable | 47/48 | €0 | €474,412 | +€474,412 | |
| Accrued charges and deferred income | 492/3 | €4,477 | €1,760 | -€2,717 | -60.7% |
| Non-recurring operating income | 76A | - | €14,500 | +€14,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €826 | €24,551 | +€23,726 | +2,873% |
| Other operating charges | 640/8 | €1,045 | €2,158 | +€1,113 | +107% |
| Gross operating margin | 9900 | €300,942 | €216,313 | -€84,628 | -28.1% |
| Operating profit (loss) | 9901 | €299,071 | €189,604 | -€109,467 | -36.6% |
| Financial income | 75/76B | €24,666 | €83,174 | +€58,508 | +237% |
| Recurring financial income | 75 | €24,666 | €83,174 | +€58,508 | +237% |
| Financial charges | 65/66B | €15,474 | €6,900 | -€8,574 | -55.4% |
| Recurring financial charges | 65 | €15,474 | €6,900 | -€8,574 | -55.4% |
| Profit (loss) for the period before taxes | 9903 | €308,262 | €265,878 | -€42,385 | -13.7% |
| Income taxes | 67/77 | €102,901 | €75,582 | -€27,318 | -26.5% |
| Profit (loss) for the period | 9904 | €205,362 | €190,295 | -€15,067 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €205,362 | €190,295 | -€15,067 | -7.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.