Dr. V. Hessen: 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. V. Hessen
Largest movements
- Cash +€84,734
up €84,734 (+50.5%), from €167,692 to €252,426
mainly Net result for the year (+€78,492) and Tax, wage and social debts (+€21,712)
- Receivables within one year +€20,361
up €20,361 (+132%), from €15,437 to €35,798
- Tangible fixed assets -€9,850
down €9,850 (-31.3%), from €31,474 to €21,625
of which Leasing and similar rights: -€8,700
- Profit (loss) carried forward +€78,492
up €78,492 (+91.9%), from €85,375 to €163,867
- Tax, wage and social debts +€21,712
new in 2025: €21,712
- Debts after one year -€4,512
down €4,512 (-20.4%), from €22,101 to €17,589
- Gross operating margin +€46,957
up €46,957 (+71.6%), from €65,596 to €112,553
- Taxes +€10,904
up €10,904 (+101%), from €10,808 to €21,712
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 | €215,600 | €310,725 | +€95,125 | +44.1% |
| Fixed assets | 21/28 | €31,474 | €21,625 | -€9,850 | -31.3% |
| Tangible fixed assets | 22/27 | €31,474 | €21,625 | -€9,850 | -31.3% |
| Furniture and vehicles | 24 | €3,134 | €1,984 | -€1,150 | -36.7% |
| Leasing and similar rights | 25 | €28,341 | €19,641 | -€8,700 | -30.7% |
| Current assets | 29/58 | €184,125 | €289,100 | +€104,975 | +57.0% |
| Amounts receivable within one year | 40/41 | €15,437 | €35,798 | +€20,361 | +132% |
| Other amounts receivable | 41 | €15,437 | €35,798 | +€20,361 | +132% |
| Cash at bank and in hand | 54/58 | €167,692 | €252,426 | +€84,734 | +50.5% |
| Deferred charges and accrued income | 490/1 | €996 | €875 | -€121 | -12.1% |
| Total equity and liabilities | 10/49 | €215,600 | €310,725 | +€95,125 | +44.1% |
| Equity | 10/15 | €187,106 | €265,598 | +€78,492 | +42.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €99,731 | €99,731 | = | 0.0% |
| Distributable reserves | 133 | €99,731 | €99,731 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,375 | €163,867 | +€78,492 | +91.9% |
| Amounts payable | 17/49 | €28,494 | €45,127 | +€16,633 | +58.4% |
| Amounts payable after more than one year | 17 | €22,101 | €17,589 | -€4,512 | -20.4% |
| Financial debts | 170/4 | €22,101 | €17,589 | -€4,512 | -20.4% |
| Amounts payable within one year | 42/48 | €5,384 | €27,537 | +€22,154 | +411% |
| Current portion of amounts payable after more than one year | 42 | €4,332 | €4,512 | +€180 | +4.2% |
| Trade debts | 44 | €1,052 | €1,314 | +€262 | +24.9% |
| Suppliers | 440/4 | €1,052 | €1,314 | +€262 | +24.9% |
| Taxes, remuneration and social security | 45 | - | €21,712 | +€21,712 | |
| Taxes | 450/3 | - | €21,712 | +€21,712 | |
| Accrued charges and deferred income | 492/3 | €1,008 | €0 | -€1,008 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,850 | €9,850 | = | 0.0% |
| Other operating charges | 640/8 | €1,046 | €1,960 | +€914 | +87.3% |
| Gross operating margin | 9900 | €65,596 | €112,553 | +€46,957 | +71.6% |
| Operating profit (loss) | 9901 | €54,700 | €100,744 | +€46,044 | +84.2% |
| Financial income | 75/76B | €292 | €1,076 | +€784 | +269% |
| Recurring financial income | 75 | €292 | €1,076 | +€784 | +269% |
| Financial charges | 65/66B | €1,820 | €1,616 | -€204 | -11.2% |
| Recurring financial charges | 65 | €1,820 | €1,616 | -€204 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €53,171 | €100,204 | +€47,032 | +88.5% |
| Income taxes | 67/77 | €10,808 | €21,712 | +€10,904 | +101% |
| Profit (loss) for the period | 9904 | €42,364 | €78,492 | +€36,128 | +85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,364 | €78,492 | +€36,128 | +85.3% |
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 13 October 2026 via checked.be.