Dr. Van Hecke Sam: 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 Hecke Sam
Largest movements
- Tangible fixed assets +€94,662
up €94,662 (+881%), from €10,740 to €105,402
of which Land and buildings: +€78,100
- Cash -€58,769
down €58,769 (-34.6%), from €169,618 to €110,849
mainly Contributions, distributions and other (-€325,810) and Investment in fixed assets (net) (-€114,487)
- Deferred charges and accrued income -€14,050
down €14,050 (-8.7%), from €161,965 to €147,916
- Current investments -€4,393
down €4,393 (-100%), from €4,393 to €0
- Other debts +€123,886
up €123,886 (+59.4%), from €208,503 to €332,389
- Reserves -€105,138
down €105,138 (-100%), from €105,138 to €0
- Tax, wage and social debts -€34,063
down €34,063 (-96.8%), from €35,185 to €1,122
- Current portion of long-term debt +€20,157
new in 2025: €20,157
- Accrued charges and deferred income +€7,060
up €7,060 (+1,013%), from €697 to €7,757
- Depreciation +€18,160
up €18,160 (+1,091%), from €1,664 to €19,825
- Gross operating margin -€12,648
down €12,648 (-3.8%), from €331,763 to €319,115
- Taxes -€11,331
down €11,331 (-14.4%), from €78,803 to €67,472
- Financial charges +€8,829
up €8,829 (+312%), from €2,825 to €11,655
- Financial income -€6,604
down €6,604 (-82.9%), from €7,969 to €1,365
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 | €359,884 | €376,829 | +€16,944 | +4.7% |
| Fixed assets | 21/28 | €10,740 | €105,402 | +€94,662 | +881% |
| Tangible fixed assets | 22/27 | €10,740 | €105,402 | +€94,662 | +881% |
| Land and buildings | 22 | - | €78,100 | +€78,100 | |
| Plant, machinery and equipment | 23 | €1,165 | €7,963 | +€6,798 | +584% |
| Furniture and vehicles | 24 | €9,574 | €19,338 | +€9,764 | +102% |
| Current assets | 29/58 | €349,145 | €271,427 | -€77,718 | -22.3% |
| Amounts receivable within one year | 40/41 | €13,169 | €12,662 | -€507 | -3.8% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €13,169 | €12,662 | -€507 | -3.8% |
| Current investments | 50/53 | €4,393 | €0 | -€4,393 | -100% |
| Cash at bank and in hand | 54/58 | €169,618 | €110,849 | -€58,769 | -34.6% |
| Deferred charges and accrued income | 490/1 | €161,965 | €147,916 | -€14,050 | -8.7% |
| Total equity and liabilities | 10/49 | €359,884 | €376,829 | +€16,944 | +4.7% |
| Equity | 10/15 | €115,138 | €10,000 | -€105,138 | -91.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €105,138 | €0 | -€105,138 | -100% |
| Distributable reserves | 133 | €105,138 | €0 | -€105,138 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €244,746 | €366,829 | +€122,083 | +49.9% |
| Amounts payable after more than one year | 17 | - | €5,138 | +€5,138 | |
| Financial debts | 170/4 | - | €5,138 | +€5,138 | |
| Amounts payable within one year | 42/48 | €244,049 | €353,933 | +€109,884 | +45.0% |
| Current portion of amounts payable after more than one year | 42 | - | €20,157 | +€20,157 | |
| Trade debts | 44 | €362 | €266 | -€96 | -26.6% |
| Suppliers | 440/4 | €362 | €266 | -€96 | -26.6% |
| Taxes, remuneration and social security | 45 | €35,185 | €1,122 | -€34,063 | -96.8% |
| Taxes | 450/3 | €35,185 | €1,122 | -€34,063 | -96.8% |
| Other amounts payable | 47/48 | €208,503 | €332,389 | +€123,886 | +59.4% |
| Accrued charges and deferred income | 492/3 | €697 | €7,757 | +€7,060 | +1,013% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,664 | €19,825 | +€18,160 | +1,091% |
| Other operating charges | 640/8 | €1,300 | €856 | -€444 | -34.2% |
| Gross operating margin | 9900 | €331,763 | €319,115 | -€12,648 | -3.8% |
| Operating profit (loss) | 9901 | €328,798 | €298,434 | -€30,364 | -9.2% |
| Financial income | 75/76B | €7,969 | €1,365 | -€6,604 | -82.9% |
| Recurring financial income | 75 | €7,969 | €1,365 | -€6,604 | -82.9% |
| Financial charges | 65/66B | €2,825 | €11,655 | +€8,829 | +312% |
| Recurring financial charges | 65 | €2,825 | €11,655 | +€8,829 | +312% |
| Profit (loss) for the period before taxes | 9903 | €333,941 | €288,144 | -€45,797 | -13.7% |
| Income taxes | 67/77 | €78,803 | €67,472 | -€11,331 | -14.4% |
| Profit (loss) for the period | 9904 | €255,138 | €220,672 | -€34,466 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €255,138 | €220,672 | -€34,466 | -13.5% |
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 25 October 2026 via checked.be.