DR. WIM WISSAERT: 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. WIM WISSAERT
Largest movements
- Receivables within one year +€91,986
up €91,986, from €0 to €91,986
- Cash -€37,675
down €37,675 (-67.9%), from €55,495 to €17,820
mainly Receivables within one year (-€91,986) and Deferred charges and accrued income (-€8,190)
- Current investments -€19,999
down €19,999 (-20.1%), from €99,559 to €79,559
- Deferred charges and accrued income +€8,190
up €8,190 (+52.3%), from €15,648 to €23,838
- Reserves +€52,769
up €52,769 (+13.1%), from €404,290 to €457,058
of which Distributable reserves: +€52,769
- Other debts -€7,078
no longer reported in 2025 (was €7,078)
- Tax, wage and social debts -€6,893
down €6,893 (-65.9%), from €10,468 to €3,575
of which Taxes: -€10,468
- Gross operating margin -€49,465
down €49,465 (-42.3%), from €116,936 to €67,470
- Taxes -€14,835
down €14,835 (-41.3%), from €35,945 to €21,110
- Financial income +€2,347
up €2,347 (+20.1%), from €11,696 to €14,043
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 | €446,685 | €489,050 | +€42,365 | +9.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €3,483 | €2,846 | -€637 | -18.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €3,458 | €2,321 | -€1,137 | -32.9% |
| Furniture and vehicles | 24 | €3,458 | €2,321 | -€1,137 | -32.9% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €25 | €525 | +€500 | +2,000% |
| Current assets | 29/58 | €443,202 | €486,203 | +€43,002 | +9.7% |
| Amounts receivable after more than one year | 29 | €272,500 | €273,000 | +€500 | +0.2% |
| Other amounts receivable | 291 | €272,500 | €273,000 | +€500 | +0.2% |
| Amounts receivable within one year | 40/41 | €0 | €91,986 | +€91,986 | |
| Other amounts receivable | 41 | €0 | €91,986 | +€91,986 | |
| Current investments | 50/53 | €99,559 | €79,559 | -€19,999 | -20.1% |
| Cash at bank and in hand | 54/58 | €55,495 | €17,820 | -€37,675 | -67.9% |
| Deferred charges and accrued income | 490/1 | €15,648 | €23,838 | +€8,190 | +52.3% |
| Total equity and liabilities | 10/49 | €446,685 | €489,050 | +€42,365 | +9.5% |
| Equity | 10/15 | €422,890 | €475,658 | +€52,769 | +12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €404,290 | €457,058 | +€52,769 | +13.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €402,430 | €455,198 | +€52,769 | +13.1% |
| Amounts payable | 17/49 | €23,796 | €13,391 | -€10,404 | -43.7% |
| Amounts payable within one year | 42/48 | €23,796 | €13,391 | -€10,404 | -43.7% |
| Financial debts | 43 | €6,250 | €6,250 | = | 0.0% |
| Credit institutions | 430/8 | €6,250 | €6,250 | = | 0.0% |
| Trade debts | 44 | - | €3,566 | +€3,566 | |
| Suppliers | 440/4 | - | €3,566 | +€3,566 | |
| Taxes, remuneration and social security | 45 | €10,468 | €3,575 | -€6,893 | -65.9% |
| Taxes | 450/3 | €10,468 | - | -€10,468 | |
| Remuneration and social security | 454/9 | - | €3,575 | +€3,575 | |
| Other amounts payable | 47/48 | €7,078 | - | -€7,078 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,411 | €1,936 | -€475 | -19.7% |
| Other operating charges | 640/8 | €924 | €1,295 | +€371 | +40.2% |
| Non-recurring operating charges | 66A | - | €1,990 | +€1,990 | |
| Gross operating margin | 9900 | €116,936 | €67,470 | -€49,465 | -42.3% |
| Operating profit (loss) | 9901 | €113,601 | €62,249 | -€51,352 | -45.2% |
| Financial income | 75/76B | €11,696 | €14,043 | +€2,347 | +20.1% |
| Recurring financial income | 75 | €11,696 | €14,043 | +€2,347 | +20.1% |
| Financial charges | 65/66B | €1,997 | €2,413 | +€416 | +20.8% |
| Recurring financial charges | 65 | €1,997 | €2,413 | +€416 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €123,299 | €73,879 | -€49,421 | -40.1% |
| Income taxes | 67/77 | €35,945 | €21,110 | -€14,835 | -41.3% |
| Profit (loss) for the period | 9904 | €87,355 | €52,769 | -€34,586 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €87,355 | €52,769 | -€34,586 | -39.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.