DR. VANSTEENKISTE: 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. VANSTEENKISTE
Largest movements
- Cash -€49,326
down €49,326 (-7.2%), from €684,347 to €635,020
mainly Contributions, distributions and other (-€77,505) and Tax, wage and social debts (-€19,006)
- Tangible fixed assets -€19,062
down €19,062 (-10.2%), from €187,369 to €168,307
of which Land and buildings: -€17,896
- Reserves -€50,061
down €50,061 (-4.8%), from €1.0m to €991,326
of which Distributable reserves: -€50,061
- Tax, wage and social debts -€19,006
down €19,006 (-72.6%), from €26,179 to €7,173
- Gross operating margin -€34,835
down €34,835 (-30.6%), from €113,810 to €78,975
- Financial income -€27,412
down €27,412 (-78.5%), from €34,909 to €7,497
- Taxes -€9,427
down €9,427 (-31.8%), from €29,666 to €20,239
- Other operating charges -€6,571
down €6,571 (-85.0%), from €7,734 to €1,162
- Financial charges -€1,275
down €1,275 (-9.0%), from €14,204 to €12,929
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 | €1,266,411 | €1,200,032 | -€66,379 | -5.2% |
| Fixed assets | 21/28 | €187,369 | €168,307 | -€19,062 | -10.2% |
| Tangible fixed assets | 22/27 | €187,369 | €168,307 | -€19,062 | -10.2% |
| Land and buildings | 22 | €179,207 | €161,311 | -€17,896 | -10.0% |
| Furniture and vehicles | 24 | €8,162 | €6,996 | -€1,166 | -14.3% |
| Current assets | 29/58 | €1,079,042 | €1,031,725 | -€47,317 | -4.4% |
| Amounts receivable after more than one year | 29 | €377,263 | €377,263 | = | 0.0% |
| Other amounts receivable | 291 | €377,263 | €377,263 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,432 | €19,442 | +€2,010 | +11.5% |
| Trade receivables | 40 | €17,432 | €19,442 | +€2,010 | +11.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €684,347 | €635,020 | -€49,326 | -7.2% |
| Total equity and liabilities | 10/49 | €1,266,411 | €1,200,032 | -€66,379 | -5.2% |
| Equity | 10/15 | €1,059,987 | €1,009,926 | -€50,061 | -4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,041,387 | €991,326 | -€50,061 | -4.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,041,387 | €991,326 | -€50,061 | -4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €206,424 | €190,106 | -€16,318 | -7.9% |
| Amounts payable within one year | 42/48 | €204,124 | €187,739 | -€16,384 | -8.0% |
| Trade debts | 44 | €1,650 | €1,495 | -€155 | -9.4% |
| Suppliers | 440/4 | €1,650 | €1,495 | -€155 | -9.4% |
| Taxes, remuneration and social security | 45 | €26,179 | €7,173 | -€19,006 | -72.6% |
| Taxes | 450/3 | €26,179 | €7,173 | -€19,006 | -72.6% |
| Other amounts payable | 47/48 | €176,295 | €179,071 | +€2,776 | +1.6% |
| Accrued charges and deferred income | 492/3 | €2,300 | €2,367 | +€67 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,645 | €24,697 | +€52 | +0.2% |
| Other operating charges | 640/8 | €7,734 | €1,162 | -€6,571 | -85.0% |
| Gross operating margin | 9900 | €113,810 | €78,975 | -€34,835 | -30.6% |
| Operating profit (loss) | 9901 | €81,431 | €53,115 | -€28,316 | -34.8% |
| Financial income | 75/76B | €34,909 | €7,497 | -€27,412 | -78.5% |
| Recurring financial income | 75 | €34,909 | €7,497 | -€27,412 | -78.5% |
| Financial charges | 65/66B | €14,204 | €12,929 | -€1,275 | -9.0% |
| Recurring financial charges | 65 | €14,204 | €12,929 | -€1,275 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €102,136 | €47,683 | -€54,453 | -53.3% |
| Income taxes | 67/77 | €29,666 | €20,239 | -€9,427 | -31.8% |
| Profit (loss) for the period | 9904 | €72,470 | €27,444 | -€45,026 | -62.1% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €72,470 | €27,444 | -€45,026 | -62.1% |
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 12 October 2026 via checked.be.