Dr. Tom Vydt: 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 Vydt
Largest movements
- Tangible fixed assets -€42,521
down €42,521 (-5.8%), from €730,441 to €687,920
of which Land and buildings: -€30,785
- Cash +€35,795
up €35,795 (+70.6%), from €50,698 to €86,493
mainly Depreciation (+€106,317) and Net result for the year (+€54,167)
- Debts after one year -€11,919
down €11,919 (-3.3%), from €366,494 to €354,575
- Current portion of long-term debt +€11,014
up €11,014 (+21.1%), from €52,283 to €63,296
- Short-term financial debts -€8,882
no longer reported in 2025 (was €8,882)
- Gross operating margin +€4,449
up €4,449 (+2.1%), from €207,557 to €212,006
- Depreciation +€2,769
up €2,769 (+2.7%), from €103,548 to €106,317
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 | €885,728 | €872,989 | -€12,739 | -1.4% |
| Fixed assets | 21/28 | €730,441 | €687,920 | -€42,521 | -5.8% |
| Tangible fixed assets | 22/27 | €730,441 | €687,920 | -€42,521 | -5.8% |
| Land and buildings | 22 | €455,298 | €424,513 | -€30,785 | -6.8% |
| Plant, machinery and equipment | 23 | €228,191 | €220,340 | -€7,851 | -3.4% |
| Furniture and vehicles | 24 | €46,951 | €43,066 | -€3,885 | -8.3% |
| Current assets | 29/58 | €155,288 | €185,069 | +€29,781 | +19.2% |
| Amounts receivable within one year | 40/41 | €20,723 | €20,849 | +€126 | +0.6% |
| Other amounts receivable | 41 | €20,723 | €20,849 | +€126 | +0.6% |
| Current investments | 50/53 | €16 | €16 | +€0 | +0.6% |
| Cash at bank and in hand | 54/58 | €50,698 | €86,493 | +€35,795 | +70.6% |
| Deferred charges and accrued income | 490/1 | €83,851 | €77,711 | -€6,140 | -7.3% |
| Total equity and liabilities | 10/49 | €885,728 | €872,989 | -€12,739 | -1.4% |
| Equity | 10/15 | €217,847 | €221,184 | +€3,338 | +1.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €205,447 | €208,784 | +€3,338 | +1.6% |
| Distributable reserves | 133 | €205,447 | €208,784 | +€3,338 | +1.6% |
| Amounts payable | 17/49 | €667,882 | €651,805 | -€16,077 | -2.4% |
| Amounts payable after more than one year | 17 | €366,494 | €354,575 | -€11,919 | -3.3% |
| Financial debts | 170/4 | €366,494 | €354,575 | -€11,919 | -3.3% |
| Amounts payable within one year | 42/48 | €283,325 | €283,243 | -€82 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €52,283 | €63,296 | +€11,014 | +21.1% |
| Financial debts | 43 | €8,882 | - | -€8,882 | |
| Credit institutions | 430/8 | €8,882 | - | -€8,882 | |
| Trade debts | 44 | €9,083 | €13,019 | +€3,936 | +43.3% |
| Suppliers | 440/4 | €9,083 | €13,019 | +€3,936 | +43.3% |
| Taxes, remuneration and social security | 45 | €13,372 | €9,271 | -€4,101 | -30.7% |
| Taxes | 450/3 | €8,872 | €9,271 | +€399 | +4.5% |
| Remuneration and social security | 454/9 | €4,500 | - | -€4,500 | |
| Other amounts payable | 47/48 | €199,705 | €197,657 | -€2,049 | -1.0% |
| Accrued charges and deferred income | 492/3 | €18,062 | €13,987 | -€4,075 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,548 | €106,317 | +€2,769 | +2.7% |
| Other operating charges | 640/8 | €5,319 | €5,441 | +€123 | +2.3% |
| Gross operating margin | 9900 | €207,557 | €212,006 | +€4,449 | +2.1% |
| Operating profit (loss) | 9901 | €98,690 | €100,247 | +€1,557 | +1.6% |
| Financial income | 75/76B | €0 | €40 | +€40 | +11,053% |
| Recurring financial income | 75 | €0 | €40 | +€40 | +11,053% |
| Financial charges | 65/66B | €22,841 | €21,850 | -€991 | -4.3% |
| Recurring financial charges | 65 | €22,841 | €21,850 | -€991 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €75,850 | €78,438 | +€2,588 | +3.4% |
| Income taxes | 67/77 | €24,872 | €24,271 | -€601 | -2.4% |
| Profit (loss) for the period | 9904 | €50,978 | €54,167 | +€3,189 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,978 | €54,167 | +€3,189 | +6.3% |
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 29 October 2026 via checked.be.