Dr VERSAILLES H.: 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 VERSAILLES H.
Largest movements
- Deferred charges and accrued income +€23,743
up €23,743 (+65.0%), from €36,541 to €60,284
- Tangible fixed assets -€19,232
down €19,232 (-62.1%), from €30,967 to €11,735
- Receivables within one year +€6,521
new in 2025: €6,521
- Reserves +€31,200
up €31,200 (+14.5%), from €214,961 to €246,161
- Other debts -€21,641
down €21,641 (-24.1%), from €89,631 to €67,990
- Gross operating margin -€15,191
down €15,191 (-11.1%), from €137,359 to €122,168
- Taxes -€4,471
down €4,471 (-12.9%), from €34,660 to €30,189
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 | €362,310 | €373,555 | +€11,245 | +3.1% |
| Fixed assets | 21/28 | €30,967 | €11,735 | -€19,232 | -62.1% |
| Tangible fixed assets | 22/27 | €30,967 | €11,735 | -€19,232 | -62.1% |
| Furniture and vehicles | 24 | €30,967 | €11,735 | -€19,232 | -62.1% |
| Current assets | 29/58 | €331,343 | €361,819 | +€30,477 | +9.2% |
| Amounts receivable within one year | 40/41 | - | €6,521 | +€6,521 | |
| Other amounts receivable | 41 | - | €6,521 | +€6,521 | |
| Current investments | 50/53 | €147,740 | €147,740 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €147,061 | €147,274 | +€213 | +0.1% |
| Deferred charges and accrued income | 490/1 | €36,541 | €60,284 | +€23,743 | +65.0% |
| Total equity and liabilities | 10/49 | €362,310 | €373,555 | +€11,245 | +3.1% |
| Equity | 10/15 | €233,561 | €264,761 | +€31,200 | +13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €214,961 | €246,161 | +€31,200 | +14.5% |
| Distributable reserves | 133 | €214,961 | €246,161 | +€31,200 | +14.5% |
| Amounts payable | 17/49 | €128,748 | €108,794 | -€19,955 | -15.5% |
| Amounts payable after more than one year | 17 | €22,000 | €23,760 | +€1,760 | +8.0% |
| Financial debts | 170/4 | €22,000 | €23,760 | +€1,760 | +8.0% |
| Amounts payable within one year | 42/48 | €104,988 | €85,034 | -€19,955 | -19.0% |
| Trade debts | 44 | €976 | €2,225 | +€1,249 | +128% |
| Suppliers | 440/4 | €976 | €2,225 | +€1,249 | +128% |
| Taxes, remuneration and social security | 45 | €14,381 | €14,819 | +€437 | +3.0% |
| Taxes | 450/3 | €11,541 | €12,050 | +€509 | +4.4% |
| Remuneration and social security | 454/9 | €2,840 | €2,769 | -€71 | -2.5% |
| Other amounts payable | 47/48 | €89,631 | €67,990 | -€21,641 | -24.1% |
| Accrued charges and deferred income | 492/3 | €1,760 | - | -€1,760 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,381 | €19,232 | -€150 | -0.8% |
| Other operating charges | 640/8 | €536 | €658 | +€122 | +22.8% |
| Gross operating margin | 9900 | €137,359 | €122,168 | -€15,191 | -11.1% |
| Operating profit (loss) | 9901 | €117,442 | €102,278 | -€15,164 | -12.9% |
| Financial income | 75/76B | €5,670 | €5,699 | +€28 | +0.5% |
| Recurring financial income | 75 | €5,670 | €5,699 | +€28 | +0.5% |
| Financial charges | 65/66B | €1,273 | €99 | -€1,174 | -92.2% |
| Recurring financial charges | 65 | €1,273 | €99 | -€1,174 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €121,840 | €107,878 | -€13,962 | -11.5% |
| Income taxes | 67/77 | €34,660 | €30,189 | -€4,471 | -12.9% |
| Profit (loss) for the period | 9904 | €87,180 | €77,689 | -€9,490 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €87,180 | €77,689 | -€9,490 | -10.9% |
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 26 October 2026 via checked.be.