DR. VERA SCHELFHOUT: 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. VERA SCHELFHOUT
Largest movements
- Current investments +€223,185
up €223,185 (+25.6%), from €870,429 to €1.1m
- Receivables within one year -€158,513
down €158,513 (-65.1%), from €243,589 to €85,076
of which Trade receivables: -€124,614
- Cash +€24,364
up €24,364 (+7.6%), from €321,377 to €345,740
mainly Net result for the year (+€322,684) and Receivables within one year (+€158,513)
- Reserves +€65,394
up €65,394 (+4.6%), from €1.4m to €1.5m
of which Distributable reserves: +€67,254
- Tax, wage and social debts +€24,953
new in 2023: €24,953
- Gross operating margin +€139,829
up €139,829 (+40.9%), from €341,662 to €481,491
- Taxes +€43,841
up €43,841 (+43.4%), from €101,112 to €144,953
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,492,026 | €1,570,672 | +€78,646 | +5.3% |
| Fixed assets | 21/28 | €50,866 | €40,476 | -€10,390 | -20.4% |
| Tangible fixed assets | 22/27 | €50,866 | €40,476 | -€10,390 | -20.4% |
| Land and buildings | 22 | €11,577 | €9,886 | -€1,692 | -14.6% |
| Plant, machinery and equipment | 23 | €5,817 | €3,175 | -€2,642 | -45.4% |
| Furniture and vehicles | 24 | €33,472 | €27,415 | -€6,057 | -18.1% |
| Current assets | 29/58 | €1,441,160 | €1,530,196 | +€89,036 | +6.2% |
| Amounts receivable within one year | 40/41 | €243,589 | €85,076 | -€158,513 | -65.1% |
| Trade receivables | 40 | €180,203 | €55,589 | -€124,614 | -69.2% |
| Other amounts receivable | 41 | €63,386 | €29,487 | -€33,899 | -53.5% |
| Current investments | 50/53 | €870,429 | €1,093,614 | +€223,185 | +25.6% |
| Cash at bank and in hand | 54/58 | €321,377 | €345,740 | +€24,364 | +7.6% |
| Deferred charges and accrued income | 490/1 | €5,765 | €5,765 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,492,026 | €1,570,672 | +€78,646 | +5.3% |
| Equity | 10/15 | €1,452,276 | €1,517,670 | +€65,394 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,433,676 | €1,499,070 | +€65,394 | +4.6% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,431,816 | €1,499,070 | +€67,254 | +4.7% |
| Amounts payable | 17/49 | €39,750 | €53,002 | +€13,252 | +33.3% |
| Amounts payable within one year | 42/48 | €33,369 | €46,621 | +€13,252 | +39.7% |
| Trade debts | 44 | €20,969 | €21,668 | +€699 | +3.3% |
| Suppliers | 440/4 | €20,969 | €21,668 | +€699 | +3.3% |
| Taxes, remuneration and social security | 45 | - | €24,953 | +€24,953 | |
| Taxes | 450/3 | - | €24,953 | +€24,953 | |
| Other amounts payable | 47/48 | €12,401 | - | -€12,401 | |
| Accrued charges and deferred income | 492/3 | €6,381 | €6,381 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,501 | €10,390 | -€1,112 | -9.7% |
| Other operating charges | 640/8 | €1,411 | €2,637 | +€1,226 | +86.9% |
| Gross operating margin | 9900 | €341,662 | €481,491 | +€139,829 | +40.9% |
| Operating profit (loss) | 9901 | €328,750 | €468,465 | +€139,714 | +42.5% |
| Financial income | 75/76B | €3,026 | €1,193 | -€1,833 | -60.6% |
| Recurring financial income | 75 | €3,026 | €1,193 | -€1,833 | -60.6% |
| Financial charges | 65/66B | €1,922 | €2,020 | +€99 | +5.1% |
| Recurring financial charges | 65 | €1,922 | €2,020 | +€99 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €329,855 | €467,637 | +€137,782 | +41.8% |
| Income taxes | 67/77 | €101,112 | €144,953 | +€43,841 | +43.4% |
| Profit (loss) for the period | 9904 | €228,743 | €322,684 | +€93,941 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €228,743 | €322,684 | +€93,941 | +41.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.