DR. TOM D'HOORE: 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. TOM D'HOORE
Largest movements
- Cash +€100,519
up €100,519 (+68.5%), from €146,708 to €247,227
mainly Net result for the year (+€583,981) and Other debts (+€130,561)
- Tangible fixed assets -€17,626
down €17,626 (-21.7%), from €81,389 to €63,762
of which Furniture and vehicles: -€16,991
- Other debts +€130,561
up €130,561 (+43.5%), from €299,888 to €430,450
- Tax, wage and social debts -€31,450
down €31,450 (-59.5%), from €52,826 to €21,375
- Financial income -€33,867
down €33,867 (-99.5%), from €34,048 to €181
- Gross operating margin -€29,747
down €29,747 (-3.6%), from €820,146 to €790,399
- Taxes -€8,864
down €8,864 (-4.5%), from €197,263 to €188,400
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 | €532,141 | €623,012 | +€90,871 | +17.1% |
| Fixed assets | 21/28 | €81,389 | €63,762 | -€17,626 | -21.7% |
| Tangible fixed assets | 22/27 | €81,389 | €63,762 | -€17,626 | -21.7% |
| Furniture and vehicles | 24 | €77,797 | €60,806 | -€16,991 | -21.8% |
| Other tangible fixed assets | 26 | €3,591 | €2,956 | -€635 | -17.7% |
| Current assets | 29/58 | €450,752 | €559,250 | +€108,498 | +24.1% |
| Amounts receivable within one year | 40/41 | €0 | €2,563 | +€2,563 | |
| Trade receivables | 40 | €0 | €2,563 | +€2,563 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €146,708 | €247,227 | +€100,519 | +68.5% |
| Deferred charges and accrued income | 490/1 | €304,044 | €309,460 | +€5,416 | +1.8% |
| Total equity and liabilities | 10/49 | €532,141 | €623,012 | +€90,871 | +17.1% |
| Equity | 10/15 | €175,766 | €169,747 | -€6,019 | -3.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €172,766 | €166,747 | -€6,019 | -3.5% |
| Distributable reserves | 133 | €172,766 | €166,747 | -€6,019 | -3.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €356,375 | €453,265 | +€96,890 | +27.2% |
| Amounts payable within one year | 42/48 | €356,199 | €453,106 | +€96,908 | +27.2% |
| Trade debts | 44 | €3,485 | €1,281 | -€2,204 | -63.2% |
| Suppliers | 440/4 | €3,485 | €1,281 | -€2,204 | -63.2% |
| Taxes, remuneration and social security | 45 | €52,826 | €21,375 | -€31,450 | -59.5% |
| Taxes | 450/3 | €52,826 | €21,375 | -€31,450 | -59.5% |
| Other amounts payable | 47/48 | €299,888 | €430,450 | +€130,561 | +43.5% |
| Accrued charges and deferred income | 492/3 | €176 | €159 | -€17 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,387 | €17,626 | +€7,239 | +69.7% |
| Other operating charges | 640/8 | €475 | €528 | +€53 | +11.2% |
| Gross operating margin | 9900 | €820,146 | €790,399 | -€29,747 | -3.6% |
| Operating profit (loss) | 9901 | €809,284 | €772,245 | -€37,039 | -4.6% |
| Financial income | 75/76B | €34,048 | €181 | -€33,867 | -99.5% |
| Recurring financial income | 75 | €34,048 | €181 | -€33,867 | -99.5% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | €843,289 | €772,381 | -€70,908 | -8.4% |
| Income taxes | 67/77 | €197,263 | €188,400 | -€8,864 | -4.5% |
| Profit (loss) for the period | 9904 | €646,025 | €583,981 | -€62,044 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €646,025 | €583,981 | -€62,044 | -9.6% |
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 27 October 2026 via checked.be.