Dr. Tom Geuens: what changed
What changed
Dr. Tom Geuens
filed annual accounts (NBB)
Net result for the year
€241,904
2024 · €234,228+€7,676
Equity
€1.3m
2024 · €1.2m+€86,466
Cash
€190,969
2024 · €183,771+€7,197
Balance sheet total
€1.3m
2024 · €1.2m+€117,863
Largest movements
Assets
- Current investments +€127,741
up €127,741 (+14.3%), from €891,468 to €1.0m
- Tangible fixed assets -€28,406
down €28,406 (-22.4%), from €127,022 to €98,616
of which Furniture and vehicles: -€18,727
- Deferred charges and accrued income +€17,185
up €17,185 (+72.2%), from €23,789 to €40,974
Equity and liabilities
- Reserves +€86,466
up €86,466 (+7.4%), from €1.2m to €1.3m
of which Distributable reserves: +€87,581
- Tax, wage and social debts +€32,985
up €32,985 (+88.0%), from €37,464 to €70,449
Income statement
- Financial income +€26,175
up €26,175 (+302%), from €8,656 to €34,831
- Gross operating margin -€11,201
down €11,201 (-3.0%), from €371,621 to €360,420
- Taxes +€6,858
up €6,858 (+6.0%), from €113,562 to €120,420
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.
Result 2024
€234,228
Gross operating margin
-€11,201
Depreciation
-€237
Other operating charges
-€207
Financial income
+€26,175
Financial charges
+€4
Taxes
-€6,858
Result 2025
€241,904
raises the resultlowers the result
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.
From operations
+€292,747
Investment
-€130,112
Financing
-€155,438
Cash 2024
€183,771
From operations (derived)
+€292,747
Net result for the year
+€241,904
Depreciation
+€30,777
Receivables within one year
+€5,854
Deferred charges and accrued income
-€17,185
Smaller working-capital items
-€756
Tax, wage and social debts
+€32,985
Other debts
-€833
Investment (derived)
-€130,112
Investment in fixed assets (net)
-€2,371
Current investments
-€127,741
Financing
-€155,438
Contributions, distributions and other
-€155,438
Cash 2025
€190,969
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,231,904 | €1,349,767 | +€117,863 | +9.6% |
| Fixed assets | 21/28 | €127,022 | €98,616 | -€28,406 | -22.4% |
| Tangible fixed assets | 22/27 | €127,022 | €98,616 | -€28,406 | -22.4% |
| Land and buildings | 22 | €63,965 | €54,904 | -€9,062 | -14.2% |
| Plant, machinery and equipment | 23 | €2,053 | €1,435 | -€618 | -30.1% |
| Furniture and vehicles | 24 | €61,003 | €42,277 | -€18,727 | -30.7% |
| Current assets | 29/58 | €1,104,883 | €1,251,151 | +€146,269 | +13.2% |
| Amounts receivable within one year | 40/41 | €5,854 | - | -€5,854 | |
| Trade receivables | 40 | €5,854 | - | -€5,854 | |
| Current investments | 50/53 | €891,468 | €1,019,209 | +€127,741 | +14.3% |
| Cash at bank and in hand | 54/58 | €183,771 | €190,969 | +€7,197 | +3.9% |
| Deferred charges and accrued income | 490/1 | €23,789 | €40,974 | +€17,185 | +72.2% |
| Total equity and liabilities | 10/49 | €1,231,904 | €1,349,767 | +€117,863 | +9.6% |
| Equity | 10/15 | €1,188,423 | €1,274,889 | +€86,466 | +7.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,176,023 | €1,262,489 | +€86,466 | +7.4% |
| Tax-exempt reserves | 132 | €2,514 | €1,399 | -€1,114 | -44.3% |
| Distributable reserves | 133 | €1,173,510 | €1,261,090 | +€87,581 | +7.5% |
| Provisions and deferred taxes | 16 | €2,539 | €2,167 | -€371 | -14.6% |
| Deferred taxes | 168 | €2,539 | €2,167 | -€371 | -14.6% |
| Amounts payable | 17/49 | €40,943 | €72,711 | +€31,768 | +77.6% |
| Amounts payable within one year | 42/48 | €40,943 | €72,656 | +€31,713 | +77.5% |
| Trade debts | 44 | €2,003 | €1,564 | -€439 | -21.9% |
| Suppliers | 440/4 | €2,003 | €1,564 | -€439 | -21.9% |
| Taxes, remuneration and social security | 45 | €37,464 | €70,449 | +€32,985 | +88.0% |
| Taxes | 450/3 | €37,464 | €70,449 | +€32,985 | +88.0% |
| Other amounts payable | 47/48 | €1,475 | €642 | -€833 | -56.5% |
| Accrued charges and deferred income | 492/3 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,540 | €30,777 | +€237 | +0.8% |
| Other operating charges | 640/8 | €2,208 | €2,415 | +€207 | +9.4% |
| Gross operating margin | 9900 | €371,621 | €360,420 | -€11,201 | -3.0% |
| Operating profit (loss) | 9901 | €338,873 | €327,228 | -€11,645 | -3.4% |
| Financial income | 75/76B | €8,656 | €34,831 | +€26,175 | +302% |
| Recurring financial income | 75 | €8,656 | €34,831 | +€26,175 | +302% |
| Financial charges | 65/66B | €111 | €107 | -€4 | -3.3% |
| Recurring financial charges | 65 | €111 | €107 | -€4 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €347,418 | €361,952 | +€14,534 | +4.2% |
| Transfer from deferred taxes | 780 | €371 | €371 | = | 0.0% |
| Income taxes | 67/77 | €113,562 | €120,420 | +€6,858 | +6.0% |
| Profit (loss) for the period | 9904 | €234,228 | €241,904 | +€7,676 | +3.3% |
| Transfer from tax-exempt reserves | 789 | €1,114 | €1,114 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €235,342 | €243,018 | +€7,676 | +3.3% |
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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 7 November 2026 via checked.be.