Dr. Tine Claus: what changed
Dr. Tine Claus
Largest movements
- Financial fixed assets +€22,580
up €22,580 (+3,114%), from €725 to €23,305
- Cash +€17,621
up €17,621 (+15.0%), from €117,334 to €134,955
mainly Net result for the year (+€66,517) and Depreciation (+€19,917)
- Intangible fixed assets -€15,000
down €15,000 (-14.3%), from €104,671 to €89,671
- Deferred charges and accrued income +€6,629
up €6,629 (+28.6%), from €23,200 to €29,829
- Tangible fixed assets -€4,917
no longer reported in 2025 (was €4,917)
- Reserves +€65,657
up €65,657 (+30.6%), from €214,330 to €279,987
- Tax, wage and social debts -€26,357
down €26,357 (-82.9%), from €31,794 to €5,437
- Other debts -€11,176
down €11,176 (-92.9%), from €12,036 to €860
- Gross operating margin -€9,440
down €9,440 (-7.6%), from €123,849 to €114,409
- Taxes -€2,357
down €2,357 (-8.2%), from €28,794 to €26,437
- Financial charges -€2,281
down €2,281 (-81.6%), from €2,794 to €513
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €269,634 | €295,952 | +€26,319 | +9.8% |
| Fixed assets | 21/28 | €110,313 | €112,976 | +€2,663 | +2.4% |
| Intangible fixed assets | 21 | €104,671 | €89,671 | -€15,000 | -14.3% |
| Tangible fixed assets | 22/27 | €4,917 | - | -€4,917 | |
| Furniture and vehicles | 24 | €4,917 | - | -€4,917 | |
| Financial fixed assets | 28 | €725 | €23,305 | +€22,580 | +3,114% |
| Current assets | 29/58 | €159,321 | €182,976 | +€23,655 | +14.8% |
| Amounts receivable within one year | 40/41 | €18,787 | €18,192 | -€595 | -3.2% |
| Trade receivables | 40 | €18,787 | €12,601 | -€6,187 | -32.9% |
| Other amounts receivable | 41 | - | €5,592 | +€5,592 | |
| Cash at bank and in hand | 54/58 | €117,334 | €134,955 | +€17,621 | +15.0% |
| Deferred charges and accrued income | 490/1 | €23,200 | €29,829 | +€6,629 | +28.6% |
| Total equity and liabilities | 10/49 | €269,634 | €295,952 | +€26,319 | +9.8% |
| Equity | 10/15 | €219,330 | €284,987 | +€65,657 | +29.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €214,330 | €279,987 | +€65,657 | +30.6% |
| Distributable reserves | 133 | €214,330 | €279,987 | +€65,657 | +30.6% |
| Amounts payable | 17/49 | €50,303 | €10,965 | -€39,338 | -78.2% |
| Amounts payable within one year | 42/48 | €48,115 | €10,965 | -€37,150 | -77.2% |
| Trade debts | 44 | €4,285 | €4,668 | +€384 | +9.0% |
| Suppliers | 440/4 | €4,285 | €4,668 | +€384 | +9.0% |
| Taxes, remuneration and social security | 45 | €31,794 | €5,437 | -€26,357 | -82.9% |
| Taxes | 450/3 | €31,794 | €5,437 | -€26,357 | -82.9% |
| Other amounts payable | 47/48 | €12,036 | €860 | -€11,176 | -92.9% |
| Accrued charges and deferred income | 492/3 | €2,188 | - | -€2,188 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,917 | €19,917 | -€0 | 0.0% |
| Other operating charges | 640/8 | €832 | €1,026 | +€194 | +23.3% |
| Gross operating margin | 9900 | €123,849 | €114,409 | -€9,440 | -7.6% |
| Operating profit (loss) | 9901 | €103,100 | €93,467 | -€9,634 | -9.3% |
| Financial income | 75/76B | €138 | €0 | -€138 | -100.0% |
| Recurring financial income | 75 | €138 | €0 | -€138 | -100.0% |
| Financial charges | 65/66B | €2,794 | €513 | -€2,281 | -81.6% |
| Recurring financial charges | 65 | €2,794 | €513 | -€2,281 | -81.6% |
| Profit (loss) for the period before taxes | 9903 | €100,444 | €92,954 | -€7,491 | -7.5% |
| Income taxes | 67/77 | €28,794 | €26,437 | -€2,357 | -8.2% |
| Profit (loss) for the period | 9904 | €71,650 | €66,517 | -€5,133 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €71,650 | €66,517 | -€5,133 | -7.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.