DR. TIM WEYN: 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 WEYN
Largest movements
- Cash -€299,819
down €299,819 (-47.1%), from €636,639 to €336,820
mainly Contributions, distributions and other (-€321,087) and Investment in fixed assets (net) (-€146,363)
- Current investments +€115,856
up €115,856 (+227.7%), from €50,876 to €166,732
- Deferred charges and accrued income +€111,928
up €111,928 (+1172.9%), from €9,543 to €121,471
- Tangible fixed assets +€62,386
up €62,386 (+4.1%), from €1.5m to €1.6m
of which Land and buildings: +€55,299
- Receivables within one year +€22,972
up €22,972 (+200.6%), from €11,450 to €34,421
- Other debts +€92,797
up €92,797 (+455.3%), from €20,383 to €113,181
- Debts after one year -€65,264
down €65,264 (-28.8%), from €226,989 to €161,725
- Reserves -€41,478
down €41,478 (-2.2%), from €1.8m to €1.8m
- Tax, wage and social debts +€33,236
up €33,236 (+106.7%), from €31,152 to €64,388
- Gross operating margin -€37,657
down €37,657 (-7.1%), from €531,557 to €493,900
- Taxes -€14,875
down €14,875 (-10.6%), from €140,297 to €125,422
- Depreciation +€11,274
up €11,274 (+15.5%), from €72,703 to €83,976
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 | €2,221,544 | €2,234,867 | +€13,322 | +0.6% |
| Fixed assets | 21/28 | €1,513,037 | €1,575,423 | +€62,386 | +4.1% |
| Tangible fixed assets | 22/27 | €1,510,537 | €1,572,923 | +€62,386 | +4.1% |
| Land and buildings | 22 | €1,378,116 | €1,433,415 | +€55,299 | +4.0% |
| Plant, machinery and equipment | 23 | €64,299 | €64,066 | -€233 | -0.4% |
| Furniture and vehicles | 24 | €68,122 | €44,441 | -€23,680 | -34.8% |
| Other tangible fixed assets | 26 | - | €31,000 | +€31,000 | |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €708,508 | €659,444 | -€49,064 | -6.9% |
| Amounts receivable within one year | 40/41 | €11,450 | €34,421 | +€22,972 | +200.6% |
| Other amounts receivable | 41 | €11,450 | €34,421 | +€22,972 | +200.6% |
| Current investments | 50/53 | €50,876 | €166,732 | +€115,856 | +227.7% |
| Cash at bank and in hand | 54/58 | €636,639 | €336,820 | -€299,819 | -47.1% |
| Deferred charges and accrued income | 490/1 | €9,543 | €121,471 | +€111,928 | +1172.9% |
| Total equity and liabilities | 10/49 | €2,221,544 | €2,234,867 | +€13,322 | +0.6% |
| Equity | 10/15 | €1,863,252 | €1,821,773 | -€41,478 | -2.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Contributions outside capital | 11 | €14,260 | - | -€14,260 | |
| Share premium | 1100/10 | €14,260 | - | -€14,260 | |
| Reserves | 13 | €1,848,992 | €1,807,513 | -€41,478 | -2.2% |
| Distributable reserves | 133 | €1,848,992 | €1,807,513 | -€41,478 | -2.2% |
| Amounts payable | 17/49 | €358,293 | €413,094 | +€54,801 | +15.3% |
| Amounts payable after more than one year | 17 | €226,989 | €161,725 | -€65,264 | -28.8% |
| Financial debts | 170/4 | €226,989 | €161,725 | -€65,264 | -28.8% |
| Amounts payable within one year | 42/48 | €114,191 | €242,207 | +€128,016 | +112.1% |
| Current portion of amounts payable after more than one year | 42 | €62,656 | €63,764 | +€1,108 | +1.8% |
| Trade debts | 44 | - | €875 | +€875 | |
| Suppliers | 440/4 | - | €875 | +€875 | |
| Taxes, remuneration and social security | 45 | €31,152 | €64,388 | +€33,236 | +106.7% |
| Taxes | 450/3 | €31,152 | €64,388 | +€33,236 | +106.7% |
| Other amounts payable | 47/48 | €20,383 | €113,181 | +€92,797 | +455.3% |
| Accrued charges and deferred income | 492/3 | €17,113 | €9,161 | -€7,952 | -46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,703 | €83,976 | +€11,274 | +15.5% |
| Other operating charges | 640/8 | €2,715 | €3,389 | +€675 | +24.9% |
| Gross operating margin | 9900 | €531,557 | €493,900 | -€37,657 | -7.1% |
| Operating profit (loss) | 9901 | €456,140 | €406,534 | -€49,606 | -10.9% |
| Financial income | 75/76B | €1,572 | €3,511 | +€1,939 | +123.3% |
| Recurring financial income | 75 | €1,572 | €3,511 | +€1,939 | +123.3% |
| Financial charges | 65/66B | €5,897 | €5,015 | -€882 | -15.0% |
| Recurring financial charges | 65 | €5,897 | €5,015 | -€882 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €451,816 | €405,031 | -€46,785 | -10.4% |
| Income taxes | 67/77 | €140,297 | €125,422 | -€14,875 | -10.6% |
| Profit (loss) for the period | 9904 | €311,519 | €279,609 | -€31,910 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €311,519 | €279,609 | -€31,910 | -10.2% |
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 10 October 2026 via checked.be.