DR. VAN LIERDE: 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 LIERDE
Largest movements
- Current investments -€155,000
down €155,000 (-32.0%), from €485,000 to €330,000
- Cash +€143,393
up €143,393 (+45.3%), from €316,792 to €460,185
mainly Net result for the year (+€164,182) and Current investments (+€155,000)
- Tangible fixed assets +€45,798
up €45,798 (+28.4%), from €160,993 to €206,791
of which Furniture and vehicles: +€40,441
- Reserves +€51,949
up €51,949 (+7.0%), from €737,930 to €789,879
of which Distributable reserves: +€51,949
- Tax, wage and social debts -€28,741
down €28,741 (-91.0%), from €31,591 to €2,851
of which Taxes: -€31,345
- Other debts +€13,064
up €13,064 (+7.6%), from €172,028 to €185,092
- Gross operating margin -€26,489
down €26,489 (-7.8%), from €339,614 to €313,126
- Taxes -€7,771
down €7,771 (-9.7%), from €80,033 to €72,262
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 | €967,044 | €1,003,043 | +€35,999 | +3.7% |
| Fixed assets | 21/28 | €160,993 | €206,791 | +€45,798 | +28.4% |
| Tangible fixed assets | 22/27 | €160,993 | €206,791 | +€45,798 | +28.4% |
| Land and buildings | 22 | €121,255 | €124,575 | +€3,320 | +2.7% |
| Plant, machinery and equipment | 23 | €2,272 | €1,986 | -€286 | -12.6% |
| Furniture and vehicles | 24 | €28,562 | €69,002 | +€40,441 | +142% |
| Other tangible fixed assets | 26 | €8,904 | €11,228 | +€2,323 | +26.1% |
| Current assets | 29/58 | €806,051 | €796,252 | -€9,799 | -1.2% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €485,000 | €330,000 | -€155,000 | -32.0% |
| Cash at bank and in hand | 54/58 | €316,792 | €460,185 | +€143,393 | +45.3% |
| Deferred charges and accrued income | 490/1 | €4,259 | €6,067 | +€1,808 | +42.5% |
| Total equity and liabilities | 10/49 | €967,044 | €1,003,043 | +€35,999 | +3.7% |
| Equity | 10/15 | €756,530 | €808,479 | +€51,949 | +6.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €737,930 | €789,879 | +€51,949 | +7.0% |
| Tax-exempt reserves | 132 | €21,550 | €21,550 | = | 0.0% |
| Distributable reserves | 133 | €716,380 | €768,329 | +€51,949 | +7.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €210,514 | €194,564 | -€15,950 | -7.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €209,802 | €193,825 | -€15,977 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €1,570 | €0 | -€1,570 | -100% |
| Financial debts | 43 | - | €36 | +€36 | |
| Other loans | 439 | - | €36 | +€36 | |
| Trade debts | 44 | €4,613 | €5,846 | +€1,234 | +26.7% |
| Suppliers | 440/4 | €4,613 | €5,846 | +€1,234 | +26.7% |
| Taxes, remuneration and social security | 45 | €31,591 | €2,851 | -€28,741 | -91.0% |
| Taxes | 450/3 | €31,591 | €246 | -€31,345 | -99.2% |
| Remuneration and social security | 454/9 | €0 | €2,605 | +€2,605 | |
| Other amounts payable | 47/48 | €172,028 | €185,092 | +€13,064 | +7.6% |
| Accrued charges and deferred income | 492/3 | €712 | €739 | +€27 | +3.8% |
| Remuneration, social security and pensions | 62 | €43,980 | €46,778 | +€2,799 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,072 | €39,024 | -€1,047 | -2.6% |
| Other operating charges | 640/8 | €4,094 | €3,531 | -€562 | -13.7% |
| Gross operating margin | 9900 | €339,614 | €313,126 | -€26,489 | -7.8% |
| Operating profit (loss) | 9901 | €251,470 | €223,791 | -€27,678 | -11.0% |
| Financial income | 75/76B | €11,477 | €13,443 | +€1,966 | +17.1% |
| Recurring financial income | 75 | €11,477 | €13,443 | +€1,966 | +17.1% |
| Financial charges | 65/66B | €720 | €791 | +€71 | +9.9% |
| Recurring financial charges | 65 | €720 | €791 | +€71 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €262,227 | €236,444 | -€25,784 | -9.8% |
| Income taxes | 67/77 | €80,033 | €72,262 | -€7,771 | -9.7% |
| Profit (loss) for the period | 9904 | €182,194 | €164,182 | -€18,012 | -9.9% |
| Profit (loss) for the period to be appropriated | 9905 | €182,194 | €164,182 | -€18,012 | -9.9% |
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 15 October 2026 via checked.be.