DR.W.TEMMERMAN: 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.W.TEMMERMAN
Largest movements
- Current investments +€65,782
up €65,782 (+4.6%), from €1.4m to €1.5m
- Cash +€40,314
up €40,314 (+11.8%), from €343,033 to €383,347
mainly Net result for the year (+€404,499) and Other debts (+€10,425)
- Reserves +€122,741
up €122,741 (+7.9%), from €1.5m to €1.7m
- Financial income +€96,933
up €96,933 (+402%), from €24,097 to €121,030
- Taxes +€12,797
up €12,797 (+9.2%), from €139,585 to €152,382
- Gross operating margin +€11,909
up €11,909 (+2.8%), from €428,989 to €440,898
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 | €1,977,444 | €2,116,406 | +€138,962 | +7.0% |
| Fixed assets | 21/28 | €1,612 | €6,189 | +€4,577 | +284% |
| Tangible fixed assets | 22/27 | €1,612 | €6,189 | +€4,577 | +284% |
| Land and buildings | 22 | - | €4,786 | +€4,786 | |
| Plant, machinery and equipment | 23 | €1,612 | €1,404 | -€208 | -12.9% |
| Current assets | 29/58 | €1,975,832 | €2,110,217 | +€134,384 | +6.8% |
| Amounts receivable within one year | 40/41 | €2,593 | €18,927 | +€16,334 | +630% |
| Other amounts receivable | 41 | €2,593 | €18,927 | +€16,334 | +630% |
| Current investments | 50/53 | €1,427,763 | €1,493,545 | +€65,782 | +4.6% |
| Cash at bank and in hand | 54/58 | €343,033 | €383,347 | +€40,314 | +11.8% |
| Deferred charges and accrued income | 490/1 | €202,444 | €214,398 | +€11,954 | +5.9% |
| Total equity and liabilities | 10/49 | €1,977,444 | €2,116,406 | +€138,962 | +7.0% |
| Equity | 10/15 | €1,614,524 | €1,737,265 | +€122,741 | +7.6% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €1,545,924 | €1,668,665 | +€122,741 | +7.9% |
| Distributable reserves | 133 | €1,545,924 | €1,668,665 | +€122,741 | +7.9% |
| Amounts payable | 17/49 | €362,921 | €379,141 | +€16,220 | +4.5% |
| Amounts payable within one year | 42/48 | €362,921 | €379,141 | +€16,220 | +4.5% |
| Trade debts | 44 | €3,546 | €9,555 | +€6,009 | +169% |
| Suppliers | 440/4 | €3,546 | €9,555 | +€6,009 | +169% |
| Taxes, remuneration and social security | 45 | €897 | €684 | -€213 | -23.7% |
| Taxes | 450/3 | €897 | €684 | -€213 | -23.7% |
| Other amounts payable | 47/48 | €358,478 | €368,902 | +€10,425 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,093 | €1,128 | +€35 | +3.2% |
| Other operating charges | 640/8 | €309 | €316 | +€7 | +2.3% |
| Gross operating margin | 9900 | €428,989 | €440,898 | +€11,909 | +2.8% |
| Operating profit (loss) | 9901 | €427,587 | €439,454 | +€11,867 | +2.8% |
| Financial income | 75/76B | €24,097 | €121,030 | +€96,933 | +402% |
| Recurring financial income | 75 | €24,097 | €121,030 | +€96,933 | +402% |
| Financial charges | 65/66B | €5,441 | €3,603 | -€1,838 | -33.8% |
| Recurring financial charges | 65 | €5,441 | €3,603 | -€1,838 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €446,243 | €556,881 | +€110,638 | +24.8% |
| Income taxes | 67/77 | €139,585 | €152,382 | +€12,797 | +9.2% |
| Profit (loss) for the period | 9904 | €306,658 | €404,499 | +€97,841 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €306,658 | €404,499 | +€97,841 | +31.9% |
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 27 October 2026 via checked.be.