DR. VRIJSEN: 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. VRIJSEN
Largest movements
- Cash +€116,928
new in 2025: €116,928
mainly Current investments (+€82,845) and Net result for the year (+€79,299)
- Current investments -€82,845
down €82,845 (-76.8%), from €107,845 to €25,000
- Tangible fixed assets -€12,083
down €12,083 (-6.6%), from €183,726 to €171,643
of which Land and buildings: -€13,849
- Deferred charges and accrued income -€5,375
down €5,375 (-69.6%), from €7,719 to €2,344
- Reserves +€27,949
up €27,949 (+10.9%), from €256,891 to €284,840
of which Distributable reserves: +€29,809
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Tax, wage and social debts +€4,622
up €4,622 (+21.1%), from €21,859 to €26,481
of which Taxes: +€5,411
- Gross operating margin +€82,114
up €82,114 (+62.5%), from €131,405 to €213,519
- Taxes +€17,939
up €17,939 (+142%), from €12,618 to €30,557
- Staff costs +€17,193
up €17,193 (+25.5%), from €67,378 to €84,571
- Depreciation -€2,227
down €2,227 (-11.3%), from €19,624 to €17,397
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 | €303,689 | €318,915 | +€15,226 | +5.0% |
| Fixed assets | 21/28 | €186,726 | €174,643 | -€12,083 | -6.5% |
| Tangible fixed assets | 22/27 | €183,726 | €171,643 | -€12,083 | -6.6% |
| Land and buildings | 22 | €180,036 | €166,187 | -€13,849 | -7.7% |
| Plant, machinery and equipment | 23 | €737 | €5,456 | +€4,719 | +640% |
| Furniture and vehicles | 24 | €2,953 | €0 | -€2,953 | -100% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €116,963 | €144,272 | +€27,309 | +23.3% |
| Amounts receivable within one year | 40/41 | €1,399 | - | -€1,399 | |
| Other amounts receivable | 41 | €1,399 | - | -€1,399 | |
| Current investments | 50/53 | €107,845 | €25,000 | -€82,845 | -76.8% |
| Cash at bank and in hand | 54/58 | - | €116,928 | +€116,928 | |
| Deferred charges and accrued income | 490/1 | €7,719 | €2,344 | -€5,375 | -69.6% |
| Total equity and liabilities | 10/49 | €303,689 | €318,915 | +€15,226 | +5.0% |
| Equity | 10/15 | €275,491 | €284,840 | +€9,349 | +3.4% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €256,891 | €284,840 | +€27,949 | +10.9% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €255,031 | €284,840 | +€29,809 | +11.7% |
| Amounts payable | 17/49 | €28,198 | €34,075 | +€5,877 | +20.8% |
| Amounts payable within one year | 42/48 | €28,198 | €34,075 | +€5,877 | +20.8% |
| Trade debts | 44 | €6,339 | €7,594 | +€1,255 | +19.8% |
| Suppliers | 440/4 | €6,339 | €7,594 | +€1,255 | +19.8% |
| Taxes, remuneration and social security | 45 | €21,859 | €26,481 | +€4,622 | +21.1% |
| Taxes | 450/3 | €2,877 | €8,288 | +€5,411 | +188% |
| Remuneration and social security | 454/9 | €18,982 | €18,193 | -€789 | -4.2% |
| Remuneration, social security and pensions | 62 | €67,378 | €84,571 | +€17,193 | +25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,624 | €17,397 | -€2,227 | -11.3% |
| Other operating charges | 640/8 | €1,677 | €1,695 | +€18 | +1.1% |
| Gross operating margin | 9900 | €131,405 | €213,519 | +€82,114 | +62.5% |
| Operating profit (loss) | 9901 | €42,726 | €109,856 | +€67,130 | +157% |
| Profit (loss) for the period before taxes | 9903 | €42,726 | €109,856 | +€67,130 | +157% |
| Transfer from deferred taxes | 780 | €3,088 | - | -€3,088 | |
| Income taxes | 67/77 | €12,618 | €30,557 | +€17,939 | +142% |
| Profit (loss) for the period | 9904 | €33,196 | €79,299 | +€46,103 | +139% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €33,196 | €79,299 | +€46,103 | +139% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.