DR. VICKY DRUBBEL: 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. VICKY DRUBBEL
Largest movements
- Cash -€36,971
down €36,971 (-26.8%), from €137,805 to €100,833
mainly Contributions, distributions and other (-€326,000) and Investment in fixed assets (net) (-€20,168)
- Tangible fixed assets +€19,778
up €19,778 (+1,362%), from €1,453 to €21,230
of which Other tangible fixed assets: +€18,690
- Deferred charges and accrued income +€5,542
up €5,542 (+10.2%), from €54,167 to €59,709
- Profit (loss) carried forward -€165,787
down €165,787 (-99.8%), from €166,144 to €357
- Other debts +€161,000
new in 2025: €161,000
- Tax, wage and social debts -€6,267
down €6,267 (-25.1%), from €24,940 to €18,673
- Gross operating margin -€5,414
down €5,414 (-2.5%), from €217,266 to €211,852
- Taxes -€2,438
down €2,438 (-4.8%), from €51,173 to €48,734
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 | €198,672 | €188,038 | -€10,634 | -5.4% |
| Fixed assets | 21/28 | €1,453 | €21,230 | +€19,778 | +1,362% |
| Tangible fixed assets | 22/27 | €1,453 | €21,230 | +€19,778 | +1,362% |
| Furniture and vehicles | 24 | €1,453 | €2,540 | +€1,088 | +74.9% |
| Other tangible fixed assets | 26 | - | €18,690 | +€18,690 | |
| Current assets | 29/58 | €197,219 | €166,808 | -€30,412 | -15.4% |
| Amounts receivable within one year | 40/41 | €5,248 | €6,266 | +€1,018 | +19.4% |
| Trade receivables | 40 | €4,725 | - | -€4,725 | |
| Other amounts receivable | 41 | €523 | €6,266 | +€5,743 | +1,098% |
| Cash at bank and in hand | 54/58 | €137,805 | €100,833 | -€36,971 | -26.8% |
| Deferred charges and accrued income | 490/1 | €54,167 | €59,709 | +€5,542 | +10.2% |
| Total equity and liabilities | 10/49 | €198,672 | €188,038 | -€10,634 | -5.4% |
| Equity | 10/15 | €172,144 | €6,357 | -€165,787 | -96.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €166,144 | €357 | -€165,787 | -99.8% |
| Amounts payable | 17/49 | €26,528 | €181,680 | +€155,153 | +585% |
| Amounts payable within one year | 42/48 | €26,360 | €181,512 | +€155,153 | +589% |
| Trade debts | 44 | €1,420 | €1,840 | +€420 | +29.6% |
| Suppliers | 440/4 | €1,420 | €1,840 | +€420 | +29.6% |
| Taxes, remuneration and social security | 45 | €24,940 | €18,673 | -€6,267 | -25.1% |
| Taxes | 450/3 | €24,940 | €18,673 | -€6,267 | -25.1% |
| Other amounts payable | 47/48 | - | €161,000 | +€161,000 | |
| Accrued charges and deferred income | 492/3 | €168 | €168 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €637 | €390 | -€247 | -38.7% |
| Other operating charges | 640/8 | €1,004 | €1,285 | +€281 | +28.0% |
| Gross operating margin | 9900 | €217,266 | €211,852 | -€5,414 | -2.5% |
| Operating profit (loss) | 9901 | €215,624 | €210,176 | -€5,448 | -2.5% |
| Financial income | 75/76B | €1,274 | €404 | -€870 | -68.3% |
| Recurring financial income | 75 | €1,274 | €404 | -€870 | -68.3% |
| Financial charges | 65/66B | €180 | €1,633 | +€1,452 | +806% |
| Recurring financial charges | 65 | €180 | €1,633 | +€1,452 | +806% |
| Profit (loss) for the period before taxes | 9903 | €216,718 | €208,948 | -€7,770 | -3.6% |
| Income taxes | 67/77 | €51,173 | €48,734 | -€2,438 | -4.8% |
| Profit (loss) for the period | 9904 | €165,546 | €160,213 | -€5,332 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €165,546 | €160,213 | -€5,332 | -3.2% |
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 18 October 2026 via checked.be.