Dr. Tom Robyns: 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 Robyns
Largest movements
- Cash +€95,597
up €95,597 (+551%), from €17,353 to €112,949
mainly Net result for the year (+€164,187) and Current investments (+€94,016)
- Current investments -€94,016
down €94,016 (-89.5%), from €105,000 to €10,984
- Deferred charges and accrued income +€18,980
up €18,980 (+114%), from €16,583 to €35,562
- Tangible fixed assets +€16,708
up €16,708 (+398%), from €4,199 to €20,907
of which Land and buildings: +€9,013
- Receivables within one year +€9,491
up €9,491 (+98.9%), from €9,601 to €19,092
of which Other amounts receivable: +€10,027
- Reserves -€89,923
down €89,923 (-60.3%), from €149,110 to €59,187
- Other debts +€85,663
up €85,663 (+66.7%), from €128,474 to €214,138
- Tax, wage and social debts +€46,367
new in 2025: €46,367
of which Taxes: +€38,117
- Gross operating margin +€29,945
up €29,945 (+16.7%), from €179,097 to €209,042
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 | €286,469 | €327,229 | +€40,760 | +14.2% |
| Fixed assets | 21/28 | €4,199 | €20,907 | +€16,708 | +398% |
| Tangible fixed assets | 22/27 | €4,199 | €20,907 | +€16,708 | +398% |
| Land and buildings | 22 | - | €9,013 | +€9,013 | |
| Plant, machinery and equipment | 23 | €1,204 | €9,258 | +€8,054 | +669% |
| Other tangible fixed assets | 26 | €2,996 | €2,637 | -€359 | -12.0% |
| Current assets | 29/58 | €282,269 | €306,321 | +€24,052 | +8.5% |
| Amounts receivable after more than one year | 29 | €133,733 | €127,733 | -€6,000 | -4.5% |
| Other amounts receivable | 291 | €133,733 | €127,733 | -€6,000 | -4.5% |
| Amounts receivable within one year | 40/41 | €9,601 | €19,092 | +€9,491 | +98.9% |
| Trade receivables | 40 | €732 | €197 | -€536 | -73.2% |
| Other amounts receivable | 41 | €8,869 | €18,896 | +€10,027 | +113% |
| Current investments | 50/53 | €105,000 | €10,984 | -€94,016 | -89.5% |
| Cash at bank and in hand | 54/58 | €17,353 | €112,949 | +€95,597 | +551% |
| Deferred charges and accrued income | 490/1 | €16,583 | €35,562 | +€18,980 | +114% |
| Total equity and liabilities | 10/49 | €286,469 | €327,229 | +€40,760 | +14.2% |
| Equity | 10/15 | €154,110 | €64,187 | -€89,923 | -58.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €149,110 | €59,187 | -€89,923 | -60.3% |
| Distributable reserves | 133 | €149,110 | €59,187 | -€89,923 | -60.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €132,358 | €263,042 | +€130,683 | +98.7% |
| Amounts payable within one year | 42/48 | €132,358 | €263,042 | +€130,683 | +98.7% |
| Trade debts | 44 | €3,884 | €2,537 | -€1,347 | -34.7% |
| Suppliers | 440/4 | €3,884 | €2,537 | -€1,347 | -34.7% |
| Taxes, remuneration and social security | 45 | - | €46,367 | +€46,367 | |
| Taxes | 450/3 | - | €38,117 | +€38,117 | |
| Remuneration and social security | 454/9 | - | €8,250 | +€8,250 | |
| Other amounts payable | 47/48 | €128,474 | €214,138 | +€85,663 | +66.7% |
| Non-recurring operating income | 76A | - | €12,800 | +€12,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,420 | €1,785 | +€365 | +25.7% |
| Other operating charges | 640/8 | €205 | €445 | +€240 | +117% |
| Gross operating margin | 9900 | €179,097 | €209,042 | +€29,945 | +16.7% |
| Operating profit (loss) | 9901 | €177,472 | €206,813 | +€29,341 | +16.5% |
| Financial income | 75/76B | €5,838 | €4,672 | -€1,167 | -20.0% |
| Recurring financial income | 75 | €4,647 | €2,917 | -€1,729 | -37.2% |
| Non-recurring financial income | 76B | €1,192 | €1,754 | +€562 | +47.2% |
| Financial charges | 65/66B | €147 | €76 | -€71 | -48.1% |
| Recurring financial charges | 65 | €44 | €76 | +€33 | +75.2% |
| Non-recurring financial charges | 66B | €103 | €0 | -€103 | -100% |
| Profit (loss) for the period before taxes | 9903 | €183,163 | €211,408 | +€28,245 | +15.4% |
| Income taxes | 67/77 | €48,842 | €47,221 | -€1,621 | -3.3% |
| Profit (loss) for the period | 9904 | €134,321 | €164,187 | +€29,866 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | €134,321 | €164,187 | +€29,866 | +22.2% |
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 20 October 2026 via checked.be.