Dr. Tache: what changed
Two fiscal 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. Tache
Largest movements
- Cash +€105,838
up €105,838 (+128.1%), from €82,614 to €188,452
mainly Net result for the year (+€155,712) and Debts after one year (+€43,551)
- Tangible fixed assets +€67,070
up €67,070 (+2124.8%), from €3,157 to €70,226
of which Leasing and similar rights: +€64,758
- Current investments +€24,929
new in 2025: €24,929
- Receivables within one year +€11,895
new in 2025: €11,895
of which Trade receivables: +€7,900
- Reserves +€155,712
up €155,712 (+199.9%), from €77,881 to €233,593
- Debts after one year +€43,551
new in 2025: €43,551
- Current portion of long-term debt +€10,673
new in 2025: €10,673
- Trade debts +€3,055
up €3,055 (+35.3%), from €8,663 to €11,718
- Gross operating margin +€194,156
up €194,156 (+450.7%), from €43,076 to €237,232
- Taxes +€37,792
up €37,792 (+428.9%), from €8,811 to €46,603
- Staff costs +€27,080
new in 2025: €27,080
- Depreciation +€3,773
up €3,773 (+261.0%), from €1,445 to €5,218
- Other operating charges +€2,564
up €2,564 (+500.6%), from €512 to €3,077
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.
Cash bridge derived
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 | €92,848 | €305,086 | +€212,238 | +228.6% |
| Formation expenses | 20 | €1,701 | €1,175 | -€526 | -30.9% |
| Fixed assets | 21/28 | €3,157 | €70,226 | +€67,070 | +2124.8% |
| Tangible fixed assets | 22/27 | €3,157 | €70,226 | +€67,070 | +2124.8% |
| Plant, machinery and equipment | 23 | - | €1,030 | +€1,030 | |
| Furniture and vehicles | 24 | €3,157 | €4,438 | +€1,282 | +40.6% |
| Leasing and similar rights | 25 | - | €64,758 | +€64,758 | |
| Current assets | 29/58 | €87,990 | €233,685 | +€145,694 | +165.6% |
| Amounts receivable within one year | 40/41 | - | €11,895 | +€11,895 | |
| Trade receivables | 40 | - | €7,900 | +€7,900 | |
| Other amounts receivable | 41 | - | €3,995 | +€3,995 | |
| Current investments | 50/53 | - | €24,929 | +€24,929 | |
| Cash at bank and in hand | 54/58 | €82,614 | €188,452 | +€105,838 | +128.1% |
| Deferred charges and accrued income | 490/1 | €5,376 | €8,409 | +€3,033 | +56.4% |
| Total equity and liabilities | 10/49 | €92,848 | €305,086 | +€212,238 | +228.6% |
| Equity | 10/15 | €79,381 | €235,093 | +€155,712 | +196.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €77,881 | €233,593 | +€155,712 | +199.9% |
| Distributable reserves | 133 | €77,881 | €233,593 | +€155,712 | +199.9% |
| Amounts payable | 17/49 | €13,467 | €69,993 | +€56,525 | +419.7% |
| Amounts payable after more than one year | 17 | - | €43,551 | +€43,551 | |
| Financial debts | 170/4 | - | €43,551 | +€43,551 | |
| Amounts payable within one year | 42/48 | €13,467 | €26,442 | +€12,974 | +96.3% |
| Current portion of amounts payable after more than one year | 42 | - | €10,673 | +€10,673 | |
| Trade debts | 44 | €8,663 | €11,718 | +€3,055 | +35.3% |
| Suppliers | 440/4 | €8,663 | €11,718 | +€3,055 | +35.3% |
| Taxes, remuneration and social security | 45 | €3,683 | €3,939 | +€256 | +6.9% |
| Taxes | 450/3 | €3,683 | - | -€3,683 | |
| Remuneration and social security | 454/9 | - | €3,939 | +€3,939 | |
| Other amounts payable | 47/48 | €1,121 | €111 | -€1,010 | -90.1% |
| Non-recurring operating income | 76A | - | €9,000 | +€9,000 | |
| Remuneration, social security and pensions | 62 | - | €27,080 | +€27,080 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,445 | €5,218 | +€3,773 | +261.0% |
| Other operating charges | 640/8 | €512 | €3,077 | +€2,564 | +500.6% |
| Gross operating margin | 9900 | €43,076 | €237,232 | +€194,156 | +450.7% |
| Operating profit (loss) | 9901 | €41,118 | €201,857 | +€160,739 | +390.9% |
| Financial income | 75/76B | €426 | €1,384 | +€957 | +224.6% |
| Recurring financial income | 75 | €426 | €1,384 | +€957 | +224.6% |
| Financial charges | 65/66B | €30 | €925 | +€895 | +2953.7% |
| Recurring financial charges | 65 | €30 | €925 | +€895 | +2953.7% |
| Profit (loss) for the period before taxes | 9903 | €41,514 | €202,315 | +€160,801 | +387.3% |
| Income taxes | 67/77 | €8,811 | €46,603 | +€37,792 | +428.9% |
| Profit (loss) for the period | 9904 | €32,703 | €155,712 | +€123,009 | +376.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,703 | €155,712 | +€123,009 | +376.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.