Dr. Toussaint: 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. Toussaint
Largest movements
- Cash +€88,164
up €88,164 (+86.8%), from €101,597 to €189,762
mainly Net result for the year (+€147,615) and Depreciation (+€29,650)
- Receivables within one year +€39,522
up €39,522 (+21.5%), from €183,468 to €222,990
- Tangible fixed assets -€25,847
down €25,847 (-4.6%), from €560,100 to €534,254
of which Land and buildings: -€22,686
- Reserves +€127,827
up €127,827 (+32.9%), from €388,836 to €516,663
- Debts after one year -€50,579
down €50,579 (-12.2%), from €415,551 to €364,973
- Tax, wage and social debts +€20,485
up €20,485 (+71.1%), from €28,820 to €49,305
- Gross operating margin +€15,495
up €15,495 (+6.6%), from €235,961 to €251,456
- Depreciation -€9,798
down €9,798 (-24.8%), from €39,448 to €29,650
- Taxes +€6,668
up €6,668 (+11.3%), from €58,820 to €65,488
- Financial charges +€3,407
up €3,407 (+30.2%), from €11,301 to €14,708
of which Non-recurring financial charges: +€3,100
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 | €893,156 | €990,793 | +€97,637 | +10.9% |
| Fixed assets | 21/28 | €566,338 | €540,492 | -€25,847 | -4.6% |
| Tangible fixed assets | 22/27 | €560,100 | €534,254 | -€25,847 | -4.6% |
| Land and buildings | 22 | €530,535 | €507,849 | -€22,686 | -4.3% |
| Plant, machinery and equipment | 23 | €28,386 | €22,166 | -€6,220 | -21.9% |
| Furniture and vehicles | 24 | €917 | €4,239 | +€3,322 | +362% |
| Other tangible fixed assets | 26 | €263 | - | -€263 | |
| Financial fixed assets | 28 | €6,238 | €6,238 | = | 0.0% |
| Current assets | 29/58 | €326,818 | €450,301 | +€123,484 | +37.8% |
| Amounts receivable after more than one year | 29 | €37,550 | €37,550 | = | 0.0% |
| Other amounts receivable | 291 | €37,550 | €37,550 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €183,468 | €222,990 | +€39,522 | +21.5% |
| Other amounts receivable | 41 | €183,468 | €222,990 | +€39,522 | +21.5% |
| Cash at bank and in hand | 54/58 | €101,597 | €189,762 | +€88,164 | +86.8% |
| Deferred charges and accrued income | 490/1 | €4,202 | - | -€4,202 | |
| Total equity and liabilities | 10/49 | €893,156 | €990,793 | +€97,637 | +10.9% |
| Equity | 10/15 | €390,836 | €518,663 | +€127,827 | +32.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €388,836 | €516,663 | +€127,827 | +32.9% |
| Distributable reserves | 133 | €388,836 | €516,663 | +€127,827 | +32.9% |
| Amounts payable | 17/49 | €502,320 | €472,130 | -€30,190 | -6.0% |
| Amounts payable after more than one year | 17 | €415,551 | €364,973 | -€50,579 | -12.2% |
| Financial debts | 170/4 | €415,551 | €364,973 | -€50,579 | -12.2% |
| Amounts payable within one year | 42/48 | €86,768 | €107,157 | +€20,389 | +23.5% |
| Current portion of amounts payable after more than one year | 42 | €49,620 | €50,579 | +€959 | +1.9% |
| Trade debts | 44 | €6,228 | €5,174 | -€1,054 | -16.9% |
| Suppliers | 440/4 | €6,228 | €5,174 | -€1,054 | -16.9% |
| Taxes, remuneration and social security | 45 | €28,820 | €49,305 | +€20,485 | +71.1% |
| Taxes | 450/3 | €28,820 | €49,305 | +€20,485 | +71.1% |
| Other amounts payable | 47/48 | €2,100 | €2,100 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,448 | €29,650 | -€9,798 | -24.8% |
| Other operating charges | 640/8 | €5,341 | €4,277 | -€1,064 | -19.9% |
| Gross operating margin | 9900 | €235,961 | €251,456 | +€15,495 | +6.6% |
| Operating profit (loss) | 9901 | €191,172 | €217,529 | +€26,357 | +13.8% |
| Financial income | 75/76B | €8,032 | €10,282 | +€2,250 | +28.0% |
| Recurring financial income | 75 | €8,032 | €10,282 | +€2,250 | +28.0% |
| Financial charges | 65/66B | €11,301 | €14,708 | +€3,407 | +30.2% |
| Recurring financial charges | 65 | €11,301 | €11,608 | +€307 | +2.7% |
| Non-recurring financial charges | 66B | - | €3,100 | +€3,100 | |
| Profit (loss) for the period before taxes | 9903 | €187,903 | €213,103 | +€25,200 | +13.4% |
| Income taxes | 67/77 | €58,820 | €65,488 | +€6,668 | +11.3% |
| Profit (loss) for the period | 9904 | €129,082 | €147,615 | +€18,533 | +14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €129,082 | €147,615 | +€18,533 | +14.4% |
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 22 October 2026 via checked.be.