DR. VANBELLE PATRICK: what changed
Two fiscal 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. VANBELLE PATRICK
Largest movements
- Cash +€13,607
up €13,607 (+30.2%), from €45,011 to €58,618
mainly Net result for the year (+€25,830) and Depreciation (+€13,291)
- Tangible fixed assets -€12,672
down €12,672 (-19.4%), from €65,301 to €52,629
of which Land and buildings: -€10,469
- Receivables within one year +€2,202
up €2,202 (+26.1%), from €8,425 to €10,627
- Reserves +€25,830
up €25,830 (+76.1%), from €33,963 to €59,793
- Other debts -€15,697
down €15,697 (-34.0%), from €46,166 to €30,469
- Debts after one year -€7,072
down €7,072 (-20.5%), from €34,551 to €27,479
- Tax, wage and social debts -€2,354
down €2,354 (-46.7%), from €5,038 to €2,684
- Trade debts +€2,252
up €2,252 (+115.3%), from €1,952 to €4,204
- Gross operating margin +€23,069
up €23,069 (+68.8%), from €33,536 to €56,605
- Taxes +€8,798
up €8,798 (+283.6%), from €3,103 to €11,901
- Depreciation -€1,504
down €1,504 (-10.2%), from €14,795 to €13,291
- Financial charges -€904
down €904 (-21.9%), from €4,117 to €3,213
- Other operating charges +€834
up €834 (+54.3%), from €1,537 to €2,371
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 | €131,149 | €133,833 | +€2,684 | +2.0% |
| Fixed assets | 21/28 | €65,301 | €52,629 | -€12,672 | -19.4% |
| Tangible fixed assets | 22/27 | €65,301 | €52,629 | -€12,672 | -19.4% |
| Land and buildings | 22 | €60,809 | €50,339 | -€10,469 | -17.2% |
| Plant, machinery and equipment | 23 | €1,869 | €1,261 | -€608 | -32.5% |
| Furniture and vehicles | 24 | €2,623 | €1,028 | -€1,594 | -60.8% |
| Current assets | 29/58 | €65,848 | €81,204 | +€15,356 | +23.3% |
| Amounts receivable within one year | 40/41 | €8,425 | €10,627 | +€2,202 | +26.1% |
| Other amounts receivable | 41 | €8,425 | €10,627 | +€2,202 | +26.1% |
| Cash at bank and in hand | 54/58 | €45,011 | €58,618 | +€13,607 | +30.2% |
| Deferred charges and accrued income | 490/1 | €12,412 | €11,959 | -€453 | -3.6% |
| Total equity and liabilities | 10/49 | €131,149 | €133,833 | +€2,684 | +2.0% |
| Equity | 10/15 | €34,063 | €59,893 | +€25,830 | +75.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €33,963 | €59,793 | +€25,830 | +76.1% |
| Distributable reserves | 133 | €33,963 | €59,793 | +€25,830 | +76.1% |
| Amounts payable | 17/49 | €97,086 | €73,940 | -€23,146 | -23.8% |
| Amounts payable after more than one year | 17 | €34,551 | €27,479 | -€7,072 | -20.5% |
| Financial debts | 170/4 | €34,551 | €27,479 | -€7,072 | -20.5% |
| Amounts payable within one year | 42/48 | €60,123 | €44,429 | -€15,695 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €6,968 | €7,072 | +€105 | +1.5% |
| Trade debts | 44 | €1,952 | €4,204 | +€2,252 | +115.3% |
| Suppliers | 440/4 | €1,952 | €4,204 | +€2,252 | +115.3% |
| Taxes, remuneration and social security | 45 | €5,038 | €2,684 | -€2,354 | -46.7% |
| Taxes | 450/3 | €5,038 | €2,684 | -€2,354 | -46.7% |
| Other amounts payable | 47/48 | €46,166 | €30,469 | -€15,697 | -34.0% |
| Accrued charges and deferred income | 492/3 | €2,411 | €2,032 | -€379 | -15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,795 | €13,291 | -€1,504 | -10.2% |
| Other operating charges | 640/8 | €1,537 | €2,371 | +€834 | +54.3% |
| Gross operating margin | 9900 | €33,536 | €56,605 | +€23,069 | +68.8% |
| Operating profit (loss) | 9901 | €17,204 | €40,944 | +€23,739 | +138.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,117 | €3,213 | -€904 | -21.9% |
| Recurring financial charges | 65 | €4,117 | €3,213 | -€904 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €13,087 | €37,731 | +€24,643 | +188.3% |
| Income taxes | 67/77 | €3,103 | €11,901 | +€8,798 | +283.6% |
| Profit (loss) for the period | 9904 | €9,985 | €25,830 | +€15,845 | +158.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,985 | €25,830 | +€15,845 | +158.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.