Dr. Thomas Beukeleirs: 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. Thomas Beukeleirs
Largest movements
- Cash +€138,848
up €138,848 (+126%), from €110,139 to €248,988
mainly Net result for the year (+€181,080) and Current investments (+€50,000)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year +€48,684
up €48,684 (+107%), from €45,708 to €94,393
of which Trade receivables: +€27,570
- Tangible fixed assets +€22,952
up €22,952 (+82.6%), from €27,779 to €50,731
of which Other tangible fixed assets: +€23,665
- Deferred charges and accrued income +€6,163
up €6,163 (+6.7%), from €91,402 to €97,565
- Reserves +€181,080
up €181,080 (+79.6%), from €227,481 to €408,561
- Other debts -€25,336
no longer reported in 2025 (was €25,336)
- Trade debts -€18,868
down €18,868 (-72.0%), from €26,198 to €7,330
- Accrued charges and deferred income +€15,153
up €15,153 (+685%), from €2,212 to €17,365
- Tax, wage and social debts +€14,619
up €14,619 (+34.2%), from €42,801 to €57,420
- Gross operating margin +€56,944
up €56,944 (+31.1%), from €183,006 to €239,950
- Taxes +€14,731
up €14,731 (+34.9%), from €42,254 to €56,986
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 | €325,028 | €491,676 | +€166,648 | +51.3% |
| Fixed assets | 21/28 | €27,779 | €50,731 | +€22,952 | +82.6% |
| Tangible fixed assets | 22/27 | €27,779 | €50,731 | +€22,952 | +82.6% |
| Furniture and vehicles | 24 | €2,462 | €1,749 | -€713 | -29.0% |
| Other tangible fixed assets | 26 | €25,316 | €48,982 | +€23,665 | +93.5% |
| Current assets | 29/58 | €297,250 | €440,945 | +€143,695 | +48.3% |
| Amounts receivable within one year | 40/41 | €45,708 | €94,393 | +€48,684 | +107% |
| Trade receivables | 40 | €45,708 | €73,279 | +€27,570 | +60.3% |
| Other amounts receivable | 41 | - | €21,114 | +€21,114 | |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €110,139 | €248,988 | +€138,848 | +126% |
| Deferred charges and accrued income | 490/1 | €91,402 | €97,565 | +€6,163 | +6.7% |
| Total equity and liabilities | 10/49 | €325,028 | €491,676 | +€166,648 | +51.3% |
| Equity | 10/15 | €228,481 | €409,561 | +€181,080 | +79.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €227,481 | €408,561 | +€181,080 | +79.6% |
| Distributable reserves | 133 | €227,481 | €408,561 | +€181,080 | +79.6% |
| Amounts payable | 17/49 | €96,547 | €82,115 | -€14,433 | -14.9% |
| Amounts payable within one year | 42/48 | €94,335 | €64,750 | -€29,585 | -31.4% |
| Trade debts | 44 | €26,198 | €7,330 | -€18,868 | -72.0% |
| Suppliers | 440/4 | €26,198 | €7,330 | -€18,868 | -72.0% |
| Taxes, remuneration and social security | 45 | €42,801 | €57,420 | +€14,619 | +34.2% |
| Taxes | 450/3 | €42,801 | €57,420 | +€14,619 | +34.2% |
| Other amounts payable | 47/48 | €25,336 | - | -€25,336 | |
| Accrued charges and deferred income | 492/3 | €2,212 | €17,365 | +€15,153 | +685% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €536 | €820 | +€284 | +53.0% |
| Other operating charges | 640/8 | €783 | €1,011 | +€228 | +29.1% |
| Gross operating margin | 9900 | €183,006 | €239,950 | +€56,944 | +31.1% |
| Operating profit (loss) | 9901 | €181,687 | €238,119 | +€56,432 | +31.1% |
| Financial income | 75/76B | €730 | €1,003 | +€273 | +37.4% |
| Recurring financial income | 75 | €730 | €1,003 | +€273 | +37.4% |
| Financial charges | 65/66B | €2,589 | €1,056 | -€1,533 | -59.2% |
| Recurring financial charges | 65 | €2,589 | €1,056 | -€1,533 | -59.2% |
| Profit (loss) for the period before taxes | 9903 | €179,828 | €238,066 | +€58,238 | +32.4% |
| Income taxes | 67/77 | €42,254 | €56,986 | +€14,731 | +34.9% |
| Profit (loss) for the period | 9904 | €137,573 | €181,080 | +€43,507 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €137,573 | €181,080 | +€43,507 | +31.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.