Dr VAN HAMMEE: 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 VAN HAMMEE
Largest movements
- Receivables after one year -€88,113
down €88,113 (-27.2%), from €323,829 to €235,716
- Current investments +€32,816
up €32,816 (+31.3%), from €105,000 to €137,816
- Receivables within one year -€26,047
down €26,047 (-21.0%), from €124,256 to €98,209
of which Trade receivables: -€15,365
- Cash -€17,633
down €17,633 (-23.5%), from €74,957 to €57,325
mainly Contributions, distributions and other (-€172,407) and Current investments (-€32,816)
- Tangible fixed assets +€7,753
up €7,753 (+13.0%), from €59,486 to €67,238
of which Other tangible fixed assets: +€13,129
- Profit (loss) carried forward -€121,422
down €121,422 (-100.0%), from €121,422 to €0
- Other debts +€19,653
up €19,653 (+18.1%), from €108,862 to €128,515
- Reserves +€14,141
up €14,141 (+3.5%), from €405,294 to €419,435
- Accrued charges and deferred income +€8,260
new in 2025: €8,260
- Gross operating margin -€40,173
down €40,173 (-23.3%), from €172,350 to €132,176
- Staff costs -€4,214
down €4,214 (-10.5%), from €40,289 to €36,076
- Taxes -€3,204
down €3,204 (-9.2%), from €34,692 to €31,488
- Financial income -€2,661
down €2,661 (-15.4%), from €17,332 to €14,672
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.
Cash bridge derived
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 | €689,901 | €598,497 | -€91,404 | -13.2% |
| Fixed assets | 21/28 | €59,626 | €67,378 | +€7,753 | +13.0% |
| Tangible fixed assets | 22/27 | €59,486 | €67,238 | +€7,753 | +13.0% |
| Furniture and vehicles | 24 | €8,917 | €3,540 | -€5,376 | -60.3% |
| Other tangible fixed assets | 26 | €50,569 | €63,698 | +€13,129 | +26.0% |
| Financial fixed assets | 28 | €140 | €140 | = | 0.0% |
| Current assets | 29/58 | €630,275 | €531,118 | -€99,157 | -15.7% |
| Amounts receivable after more than one year | 29 | €323,829 | €235,716 | -€88,113 | -27.2% |
| Other amounts receivable | 291 | €323,829 | €235,716 | -€88,113 | -27.2% |
| Amounts receivable within one year | 40/41 | €124,256 | €98,209 | -€26,047 | -21.0% |
| Trade receivables | 40 | €21,468 | €6,103 | -€15,365 | -71.6% |
| Other amounts receivable | 41 | €102,789 | €92,107 | -€10,682 | -10.4% |
| Current investments | 50/53 | €105,000 | €137,816 | +€32,816 | +31.3% |
| Cash at bank and in hand | 54/58 | €74,957 | €57,325 | -€17,633 | -23.5% |
| Deferred charges and accrued income | 490/1 | €2,233 | €2,053 | -€180 | -8.1% |
| Total equity and liabilities | 10/49 | €689,901 | €598,497 | -€91,404 | -13.2% |
| Equity | 10/15 | €545,308 | €438,027 | -€107,281 | -19.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €405,294 | €419,435 | +€14,141 | +3.5% |
| Distributable reserves | 133 | €405,294 | €419,435 | +€14,141 | +3.5% |
| Profit (loss) carried forward | 14 | €121,422 | €0 | -€121,422 | -100.0% |
| Amounts payable | 17/49 | €144,593 | €160,469 | +€15,877 | +11.0% |
| Amounts payable after more than one year | 17 | €3,638 | €0 | -€3,638 | -100.0% |
| Financial debts | 170/4 | €3,638 | €0 | -€3,638 | -100.0% |
| Amounts payable within one year | 42/48 | €140,955 | €152,210 | +€11,255 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €5,411 | €3,638 | -€1,774 | -32.8% |
| Financial debts | 43 | €8,887 | €11,804 | +€2,916 | +32.8% |
| Credit institutions | 430/8 | €8,887 | €11,804 | +€2,916 | +32.8% |
| Trade debts | 44 | €7,703 | €2,756 | -€4,947 | -64.2% |
| Suppliers | 440/4 | €7,703 | €2,756 | -€4,947 | -64.2% |
| Taxes, remuneration and social security | 45 | €10,092 | €5,497 | -€4,594 | -45.5% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €10,092 | €5,497 | -€4,594 | -45.5% |
| Other amounts payable | 47/48 | €108,862 | €128,515 | +€19,653 | +18.1% |
| Accrued charges and deferred income | 492/3 | - | €8,260 | +€8,260 | |
| Remuneration, social security and pensions | 62 | €40,289 | €36,076 | -€4,214 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,097 | €12,501 | -€596 | -4.5% |
| Other operating charges | 640/8 | €824 | €825 | +€0 | +0.1% |
| Gross operating margin | 9900 | €172,350 | €132,176 | -€40,173 | -23.3% |
| Operating profit (loss) | 9901 | €118,139 | €82,775 | -€35,364 | -29.9% |
| Financial income | 75/76B | €17,332 | €14,672 | -€2,661 | -15.4% |
| Recurring financial income | 75 | €17,332 | €14,672 | -€2,661 | -15.4% |
| Financial charges | 65/66B | €899 | €831 | -€68 | -7.5% |
| Recurring financial charges | 65 | €899 | €831 | -€68 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €134,572 | €96,615 | -€37,957 | -28.2% |
| Income taxes | 67/77 | €34,692 | €31,488 | -€3,204 | -9.2% |
| Profit (loss) for the period | 9904 | €99,880 | €65,126 | -€34,754 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €99,880 | €65,126 | -€34,754 | -34.8% |
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 9 October 2026 via checked.be.