DR.WOUTER BEELE: what changed
Two fiscal 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.WOUTER BEELE
Largest movements
- Tangible fixed assets +€160,538
up €160,538 (+136.8%), from €117,378 to €277,916
of which Land and buildings: +€163,209
- Cash +€45,839
up €45,839 (+22.3%), from €205,433 to €251,272
mainly Other debts (+€182,523) and Net result for the year (+€53,727)
- Receivables within one year -€11,645
down €11,645 (-99.9%), from €11,660 to €15
- Other debts +€182,523
new in 2025: €182,523
- Tax, wage and social debts +€15,992
up €15,992 (+103.0%), from €15,530 to €31,522
of which Taxes: +€15,992
- Short-term financial debts -€14,221
down €14,221 (-100.0%), from €14,221 to €0
- Reserves +€12,403
up €12,403 (+4.2%), from €293,535 to €305,938
- Gross operating margin +€5,287
up €5,287 (+5.1%), from €104,335 to €109,622
- Taxes +€3,000
up €3,000 (+14.9%), from €20,146 to €23,146
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.
Cash bridge derived
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 | €336,695 | €531,446 | +€194,751 | +57.8% |
| Fixed assets | 21/28 | €117,378 | €277,916 | +€160,538 | +136.8% |
| Tangible fixed assets | 22/27 | €117,378 | €277,916 | +€160,538 | +136.8% |
| Land and buildings | 22 | €88,185 | €251,394 | +€163,209 | +185.1% |
| Plant, machinery and equipment | 23 | €5,415 | €3,445 | -€1,970 | -36.4% |
| Furniture and vehicles | 24 | €23,778 | €23,077 | -€701 | -2.9% |
| Current assets | 29/58 | €219,317 | €253,530 | +€34,213 | +15.6% |
| Amounts receivable within one year | 40/41 | €11,660 | €15 | -€11,645 | -99.9% |
| Other amounts receivable | 41 | €11,660 | €15 | -€11,645 | -99.9% |
| Cash at bank and in hand | 54/58 | €205,433 | €251,272 | +€45,839 | +22.3% |
| Deferred charges and accrued income | 490/1 | €2,224 | €2,243 | +€19 | +0.9% |
| Total equity and liabilities | 10/49 | €336,695 | €531,446 | +€194,751 | +57.8% |
| Equity | 10/15 | €293,535 | €305,938 | +€12,403 | +4.2% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €293,535 | €305,938 | +€12,403 | +4.2% |
| Distributable reserves | 133 | €293,535 | €305,938 | +€12,403 | +4.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €43,160 | €225,508 | +€182,348 | +422.5% |
| Amounts payable within one year | 42/48 | €43,160 | €225,508 | +€182,348 | +422.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €14,221 | €0 | -€14,221 | -100.0% |
| Credit institutions | 430/8 | €14,221 | €0 | -€14,221 | -100.0% |
| Trade debts | 44 | €13,409 | €11,463 | -€1,946 | -14.5% |
| Suppliers | 440/4 | €13,409 | €11,463 | -€1,946 | -14.5% |
| Taxes, remuneration and social security | 45 | €15,530 | €31,522 | +€15,992 | +103.0% |
| Taxes | 450/3 | €15,530 | €31,522 | +€15,992 | +103.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €182,523 | +€182,523 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,918 | €30,383 | +€465 | +1.6% |
| Other operating charges | 640/8 | €1,655 | €1,705 | +€50 | +3.0% |
| Gross operating margin | 9900 | €104,335 | €109,622 | +€5,287 | +5.1% |
| Operating profit (loss) | 9901 | €72,763 | €77,534 | +€4,772 | +6.6% |
| Financial income | 75/76B | €203 | €115 | -€87 | -43.0% |
| Recurring financial income | 75 | €203 | €115 | -€87 | -43.0% |
| Financial charges | 65/66B | €565 | €777 | +€212 | +37.6% |
| Recurring financial charges | 65 | €565 | €777 | +€212 | +37.6% |
| Profit (loss) for the period before taxes | 9903 | €72,400 | €76,873 | +€4,472 | +6.2% |
| Income taxes | 67/77 | €20,146 | €23,146 | +€3,000 | +14.9% |
| Profit (loss) for the period | 9904 | €52,254 | €53,727 | +€1,472 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,254 | €53,727 | +€1,472 | +2.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.