Dr. Tim Ryssens: 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. Tim Ryssens
Largest movements
- Current investments -€195,467
down €195,467 (-93.1%), from €209,954 to €14,487
- Cash +€57,902
up €57,902 (+78.4%), from €73,820 to €131,723
mainly Current investments (+€195,467) and Net result for the year (+€147,794)
- Deferred charges and accrued income +€37,645
up €37,645 (+39.5%), from €95,391 to €133,037
- Receivables within one year -€8,736
down €8,736 (-87.4%), from €10,000 to €1,264
of which Trade receivables: -€10,000
- Other debts -€158,855
down €158,855 (-77.3%), from €205,510 to €46,655
- Reserves +€48,895
up €48,895 (+25.7%), from €190,518 to €239,413
- Gross operating margin +€10,575
up €10,575 (+5.5%), from €192,034 to €202,609
- Financial charges +€2,379
up €2,379 (+84.8%), from €2,807 to €5,186
- Depreciation +€2,265
up €2,265 (+40.7%), from €5,567 to €7,832
- Financial income -€2,043
down €2,043 (-38.0%), from €5,373 to €3,331
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 | €412,460 | €303,364 | -€109,096 | -26.5% |
| Fixed assets | 21/28 | €18,295 | €19,853 | +€1,559 | +8.5% |
| Tangible fixed assets | 22/27 | €18,295 | €19,853 | +€1,559 | +8.5% |
| Plant, machinery and equipment | 23 | €2,529 | €2,016 | -€514 | -20.3% |
| Furniture and vehicles | 24 | €15,765 | €17,837 | +€2,072 | +13.1% |
| Current assets | 29/58 | €394,166 | €283,511 | -€110,655 | -28.1% |
| Amounts receivable after more than one year | 29 | €5,000 | €3,000 | -€2,000 | -40.0% |
| Other amounts receivable | 291 | €5,000 | €3,000 | -€2,000 | -40.0% |
| Amounts receivable within one year | 40/41 | €10,000 | €1,264 | -€8,736 | -87.4% |
| Trade receivables | 40 | €10,000 | - | -€10,000 | |
| Other amounts receivable | 41 | - | €1,264 | +€1,264 | |
| Current investments | 50/53 | €209,954 | €14,487 | -€195,467 | -93.1% |
| Cash at bank and in hand | 54/58 | €73,820 | €131,723 | +€57,902 | +78.4% |
| Deferred charges and accrued income | 490/1 | €95,391 | €133,037 | +€37,645 | +39.5% |
| Total equity and liabilities | 10/49 | €412,460 | €303,364 | -€109,096 | -26.5% |
| Equity | 10/15 | €198,518 | €247,413 | +€48,895 | +24.6% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €190,518 | €239,413 | +€48,895 | +25.7% |
| Distributable reserves | 133 | €190,518 | €239,413 | +€48,895 | +25.7% |
| Amounts payable | 17/49 | €213,943 | €55,952 | -€157,991 | -73.8% |
| Amounts payable within one year | 42/48 | €213,607 | €52,354 | -€161,253 | -75.5% |
| Trade debts | 44 | €3,071 | €2,947 | -€124 | -4.0% |
| Suppliers | 440/4 | €3,071 | €2,947 | -€124 | -4.0% |
| Taxes, remuneration and social security | 45 | €5,026 | €2,753 | -€2,273 | -45.2% |
| Taxes | 450/3 | €5,026 | €2,753 | -€2,273 | -45.2% |
| Other amounts payable | 47/48 | €205,510 | €46,655 | -€158,855 | -77.3% |
| Accrued charges and deferred income | 492/3 | €336 | €3,597 | +€3,262 | +971% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,567 | €7,832 | +€2,265 | +40.7% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €192,034 | €202,609 | +€10,575 | +5.5% |
| Operating profit (loss) | 9901 | €185,962 | €194,257 | +€8,295 | +4.5% |
| Financial income | 75/76B | €5,373 | €3,331 | -€2,043 | -38.0% |
| Recurring financial income | 75 | €5,373 | €3,331 | -€2,043 | -38.0% |
| Financial charges | 65/66B | €2,807 | €5,186 | +€2,379 | +84.8% |
| Recurring financial charges | 65 | €2,807 | €5,186 | +€2,379 | +84.8% |
| Profit (loss) for the period before taxes | 9903 | €188,528 | €192,401 | +€3,873 | +2.1% |
| Income taxes | 67/77 | €43,941 | €44,607 | +€666 | +1.5% |
| Profit (loss) for the period | 9904 | €144,587 | €147,794 | +€3,207 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €144,587 | €147,794 | +€3,207 | +2.2% |
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 18 October 2026 via checked.be.