Dr.VANHOLST: 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.VANHOLST
Largest movements
- Tangible fixed assets -€50,087
down €50,087 (-12.4%), from €404,387 to €354,300
of which Land and buildings: -€48,309
- Cash +€11,139
up €11,139 (+13.5%), from €82,656 to €93,795
mainly Net result for the year (+€52,493) and Depreciation (+€50,087)
- Debts after one year -€94,698
down €94,698 (-29.4%), from €322,469 to €227,771
- Reserves +€51,634
up €51,634 (+32.2%), from €160,236 to €211,870
- Financial charges -€3,201
down €3,201 (-17.6%), from €18,221 to €15,019
- Taxes +€2,000
up €2,000 (+9.6%), from €20,889 to €22,889
- Gross operating margin +€1,488
up €1,488 (+1.1%), from €141,514 to €143,001
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 | €601,728 | €560,910 | -€40,819 | -6.8% |
| Fixed assets | 21/28 | €404,387 | €354,300 | -€50,087 | -12.4% |
| Tangible fixed assets | 22/27 | €404,387 | €354,300 | -€50,087 | -12.4% |
| Land and buildings | 22 | €402,367 | €354,058 | -€48,309 | -12.0% |
| Furniture and vehicles | 24 | €2,020 | €242 | -€1,778 | -88.0% |
| Current assets | 29/58 | €197,342 | €206,610 | +€9,268 | +4.7% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €57,264 | €56,101 | -€1,163 | -2.0% |
| Trade receivables | 40 | €16,691 | €3,338 | -€13,353 | -80.0% |
| Other amounts receivable | 41 | €40,573 | €52,763 | +€12,190 | +30.0% |
| Cash at bank and in hand | 54/58 | €82,656 | €93,795 | +€11,139 | +13.5% |
| Deferred charges and accrued income | 490/1 | €7,421 | €6,714 | -€708 | -9.5% |
| Total equity and liabilities | 10/49 | €601,728 | €560,910 | -€40,819 | -6.8% |
| Equity | 10/15 | €172,636 | €224,270 | +€51,634 | +29.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €160,236 | €211,870 | +€51,634 | +32.2% |
| Distributable reserves | 133 | €160,236 | €211,870 | +€51,634 | +32.2% |
| Amounts payable | 17/49 | €429,092 | €336,639 | -€92,453 | -21.5% |
| Amounts payable after more than one year | 17 | €322,469 | €227,771 | -€94,698 | -29.4% |
| Financial debts | 170/4 | €322,469 | €227,771 | -€94,698 | -29.4% |
| Amounts payable within one year | 42/48 | €106,569 | €108,819 | +€2,250 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €91,724 | €94,698 | +€2,974 | +3.2% |
| Trade debts | 44 | €4,197 | €1,498 | -€2,700 | -64.3% |
| Suppliers | 440/4 | €4,197 | €1,498 | -€2,700 | -64.3% |
| Taxes, remuneration and social security | 45 | €9,814 | €11,764 | +€1,950 | +19.9% |
| Taxes | 450/3 | €9,814 | €11,764 | +€1,950 | +19.9% |
| Other amounts payable | 47/48 | €833 | €859 | +€26 | +3.1% |
| Accrued charges and deferred income | 492/3 | €55 | €50 | -€5 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,794 | €50,087 | -€707 | -1.4% |
| Other operating charges | 640/8 | €4,105 | €4,380 | +€274 | +6.7% |
| Gross operating margin | 9900 | €141,514 | €143,001 | +€1,488 | +1.1% |
| Operating profit (loss) | 9901 | €86,614 | €88,534 | +€1,920 | +2.2% |
| Financial income | 75/76B | €1,667 | €1,867 | +€201 | +12.0% |
| Recurring financial income | 75 | €1,667 | €1,867 | +€201 | +12.0% |
| Financial charges | 65/66B | €18,221 | €15,019 | -€3,201 | -17.6% |
| Recurring financial charges | 65 | €18,221 | €15,019 | -€3,201 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €70,060 | €75,382 | +€5,322 | +7.6% |
| Income taxes | 67/77 | €20,889 | €22,889 | +€2,000 | +9.6% |
| Profit (loss) for the period | 9904 | €49,171 | €52,493 | +€3,322 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,171 | €52,493 | +€3,322 | +6.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.