DR. V. Reenaers: 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. Reenaers
Largest movements
- Cash +€15,638
up €15,638 (+6.5%), from €239,108 to €254,746
mainly Net result for the year (+€14,593) and Depreciation (+€8,034)
- Tangible fixed assets -€5,070
down €5,070 (-16.7%), from €30,308 to €25,239
of which Furniture and vehicles: -€7,004
- Reserves +€14,593
up €14,593 (+8.1%), from €179,115 to €193,708
- Depreciation +€2,670
up €2,670 (+49.8%), from €5,364 to €8,034
- Staff costs +€783
up €783 (+2.7%), from €29,549 to €30,332
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 | €300,362 | €313,763 | +€13,401 | +4.5% |
| Fixed assets | 21/28 | €30,308 | €25,239 | -€5,070 | -16.7% |
| Tangible fixed assets | 22/27 | €30,308 | €25,239 | -€5,070 | -16.7% |
| Plant, machinery and equipment | 23 | €0 | €2,133 | +€2,133 | |
| Furniture and vehicles | 24 | €29,910 | €22,906 | -€7,004 | -23.4% |
| Other tangible fixed assets | 26 | €398 | €199 | -€199 | -50.0% |
| Current assets | 29/58 | €270,054 | €288,525 | +€18,471 | +6.8% |
| Amounts receivable within one year | 40/41 | €2,142 | €2,476 | +€334 | +15.6% |
| Other amounts receivable | 41 | €2,142 | €2,476 | +€334 | +15.6% |
| Cash at bank and in hand | 54/58 | €239,108 | €254,746 | +€15,638 | +6.5% |
| Deferred charges and accrued income | 490/1 | €28,804 | €31,303 | +€2,499 | +8.7% |
| Total equity and liabilities | 10/49 | €300,362 | €313,763 | +€13,401 | +4.5% |
| Equity | 10/15 | €288,985 | €303,577 | +€14,593 | +5.0% |
| Contributions | 10/11 | €109,869 | €109,869 | = | 0.0% |
| Reserves | 13 | €179,115 | €193,708 | +€14,593 | +8.1% |
| Distributable reserves | 133 | €179,115 | €193,708 | +€14,593 | +8.1% |
| Amounts payable | 17/49 | €11,378 | €10,186 | -€1,192 | -10.5% |
| Amounts payable within one year | 42/48 | €11,355 | €10,186 | -€1,169 | -10.3% |
| Trade debts | 44 | €2,047 | €1,937 | -€110 | -5.4% |
| Suppliers | 440/4 | €2,047 | €1,937 | -€110 | -5.4% |
| Taxes, remuneration and social security | 45 | €9,007 | €8,249 | -€758 | -8.4% |
| Taxes | 450/3 | €1,975 | €0 | -€1,975 | -100% |
| Remuneration and social security | 454/9 | €7,032 | €8,249 | +€1,217 | +17.3% |
| Other amounts payable | 47/48 | €301 | €0 | -€301 | -100% |
| Accrued charges and deferred income | 492/3 | €23 | €0 | -€23 | -100% |
| Non-recurring operating income | 76A | €9,800 | €0 | -€9,800 | -100% |
| Remuneration, social security and pensions | 62 | €29,549 | €30,332 | +€783 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,364 | €8,034 | +€2,670 | +49.8% |
| Other operating charges | 640/8 | €1,053 | €878 | -€175 | -16.6% |
| Gross operating margin | 9900 | €60,696 | €60,683 | -€14 | 0.0% |
| Operating profit (loss) | 9901 | €24,730 | €21,438 | -€3,292 | -13.3% |
| Financial income | 75/76B | €0 | €8 | +€8 | +38,100% |
| Recurring financial income | 75 | €0 | €8 | +€8 | +38,100% |
| Financial charges | 65/66B | €234 | €225 | -€9 | -3.7% |
| Recurring financial charges | 65 | €234 | €225 | -€9 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | €24,496 | €21,220 | -€3,276 | -13.4% |
| Income taxes | 67/77 | €6,957 | €6,628 | -€329 | -4.7% |
| Profit (loss) for the period | 9904 | €17,539 | €14,593 | -€2,947 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,539 | €14,593 | -€2,947 | -16.8% |
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 27 October 2026 via checked.be.