dr. Tim Moons: 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. Tim Moons
Largest movements
- Tangible fixed assets +€40,812
up €40,812 (+2237.2%), from €1,824 to €42,636
- Receivables within one year +€25,751
up €25,751 (+32.3%), from €79,713 to €105,465
of which Trade receivables: +€24,567
- Cash -€11,103
down €11,103 (-15.3%), from €72,363 to €61,260
mainly Contributions, distributions and other (-€261,200) and Investment in fixed assets (net) (-€53,927)
- Intangible fixed assets -€10,000
down €10,000 (-26.7%), from €37,500 to €27,500
- Other debts +€151,356
up €151,356 (+1011.5%), from €14,963 to €166,319
- Reserves -€102,953
down €102,953 (-69.2%), from €148,706 to €45,753
- Accrued charges and deferred income -€3,593
down €3,593 (-36.9%), from €9,733 to €6,140
- Gross operating margin +€126,512
up €126,512 (+119.0%), from €106,302 to €232,814
- Taxes +€28,494
up €28,494 (+142.3%), from €20,020 to €48,514
- Depreciation +€12,387
up €12,387 (+115.5%), from €10,728 to €23,115
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 | €192,423 | €238,606 | +€46,184 | +24.0% |
| Fixed assets | 21/28 | €39,324 | €70,136 | +€30,812 | +78.4% |
| Intangible fixed assets | 21 | €37,500 | €27,500 | -€10,000 | -26.7% |
| Tangible fixed assets | 22/27 | €1,824 | €42,636 | +€40,812 | +2237.2% |
| Furniture and vehicles | 24 | €1,824 | €42,636 | +€40,812 | +2237.2% |
| Current assets | 29/58 | €153,098 | €168,471 | +€15,372 | +10.0% |
| Amounts receivable within one year | 40/41 | €79,713 | €105,465 | +€25,751 | +32.3% |
| Trade receivables | 40 | €59,354 | €83,922 | +€24,567 | +41.4% |
| Other amounts receivable | 41 | €20,359 | €21,543 | +€1,184 | +5.8% |
| Cash at bank and in hand | 54/58 | €72,363 | €61,260 | -€11,103 | -15.3% |
| Deferred charges and accrued income | 490/1 | €1,022 | €1,746 | +€724 | +70.9% |
| Total equity and liabilities | 10/49 | €192,423 | €238,606 | +€46,184 | +24.0% |
| Equity | 10/15 | €167,306 | €64,353 | -€102,953 | -61.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,706 | €45,753 | -€102,953 | -69.2% |
| Distributable reserves | 133 | €148,706 | €45,753 | -€102,953 | -69.2% |
| Amounts payable | 17/49 | €25,117 | €174,253 | +€149,136 | +593.8% |
| Amounts payable within one year | 42/48 | €15,384 | €168,114 | +€152,730 | +992.8% |
| Trade debts | 44 | €421 | €1,794 | +€1,374 | +326.3% |
| Suppliers | 440/4 | €421 | €1,794 | +€1,374 | +326.3% |
| Other amounts payable | 47/48 | €14,963 | €166,319 | +€151,356 | +1011.5% |
| Accrued charges and deferred income | 492/3 | €9,733 | €6,140 | -€3,593 | -36.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,728 | €23,115 | +€12,387 | +115.5% |
| Other operating charges | 640/8 | €569 | €1,871 | +€1,302 | +228.7% |
| Gross operating margin | 9900 | €106,302 | €232,814 | +€126,512 | +119.0% |
| Operating profit (loss) | 9901 | €95,005 | €207,828 | +€112,824 | +118.8% |
| Financial income | 75/76B | €1,264 | €191 | -€1,074 | -84.9% |
| Recurring financial income | 75 | €1,264 | €191 | -€1,074 | -84.9% |
| Financial charges | 65/66B | €1,636 | €1,257 | -€379 | -23.1% |
| Recurring financial charges | 65 | €1,636 | €1,257 | -€379 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €94,633 | €206,762 | +€112,128 | +118.5% |
| Income taxes | 67/77 | €20,020 | €48,514 | +€28,494 | +142.3% |
| Profit (loss) for the period | 9904 | €74,613 | €158,247 | +€83,634 | +112.1% |
| Profit (loss) for the period to be appropriated | 9905 | €74,613 | €158,247 | +€83,634 | +112.1% |
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 2 October 2026 via checked.be.