Dr. Wouter Dierynck: 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. Wouter Dierynck
Largest movements
- Receivables within one year +€29,735
up €29,735 (+51.7%), from €57,545 to €87,280
of which Other amounts receivable: +€16,579
- Cash -€17,364
down €17,364 (-25.7%), from €67,531 to €50,167
mainly Investment in fixed assets (net) (-€35,276) and Receivables within one year (-€29,735)
- Tangible fixed assets +€15,903
up €15,903 (+12.1%), from €131,651 to €147,555
of which Other tangible fixed assets: +€24,140
- Deferred charges and accrued income -€10,894
down €10,894 (-95.7%), from €11,379 to €485
- Reserves +€30,424
up €30,424 (+15.8%), from €193,152 to €223,576
- Debts after one year -€26,072
down €26,072 (-28.3%), from €92,279 to €66,207
- Trade debts +€13,268
up €13,268 (+119.1%), from €11,145 to €24,413
- Depreciation -€4,974
down €4,974 (-20.4%), from €24,347 to €19,372
- Taxes +€3,186
up €3,186 (+23.1%), from €13,779 to €16,965
- Gross operating margin +€1,784
up €1,784 (+2.7%), from €67,036 to €68,820
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €350,607 | €367,988 | +€17,381 | +5.0% |
| Fixed assets | 21/28 | €131,651 | €147,555 | +€15,903 | +12.1% |
| Tangible fixed assets | 22/27 | €131,651 | €147,555 | +€15,903 | +12.1% |
| Plant, machinery and equipment | 23 | €742 | €318 | -€424 | -57.1% |
| Furniture and vehicles | 24 | €15,033 | €7,221 | -€7,812 | -52.0% |
| Other tangible fixed assets | 26 | €115,876 | €140,016 | +€24,140 | +20.8% |
| Current assets | 29/58 | €218,956 | €220,433 | +€1,477 | +0.7% |
| Amounts receivable after more than one year | 29 | €82,500 | €82,500 | = | 0.0% |
| Other amounts receivable | 291 | €82,500 | €82,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €57,545 | €87,280 | +€29,735 | +51.7% |
| Trade receivables | 40 | €44,689 | €57,846 | +€13,157 | +29.4% |
| Other amounts receivable | 41 | €12,856 | €29,435 | +€16,579 | +129.0% |
| Cash at bank and in hand | 54/58 | €67,531 | €50,167 | -€17,364 | -25.7% |
| Deferred charges and accrued income | 490/1 | €11,379 | €485 | -€10,894 | -95.7% |
| Total equity and liabilities | 10/49 | €350,607 | €367,988 | +€17,381 | +5.0% |
| Equity | 10/15 | €213,651 | €244,075 | +€30,424 | +14.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €193,152 | €223,576 | +€30,424 | +15.8% |
| Distributable reserves | 133 | €193,152 | €223,576 | +€30,424 | +15.8% |
| Profit (loss) carried forward | 14 | €39 | €39 | = | 0.0% |
| Amounts payable | 17/49 | €136,956 | €123,913 | -€13,043 | -9.5% |
| Amounts payable after more than one year | 17 | €92,279 | €66,207 | -€26,072 | -28.3% |
| Financial debts | 170/4 | €92,279 | €66,207 | -€26,072 | -28.3% |
| Amounts payable within one year | 42/48 | €44,276 | €57,305 | +€13,029 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €32,754 | €32,893 | +€138 | +0.4% |
| Trade debts | 44 | €11,145 | €24,413 | +€13,268 | +119.1% |
| Suppliers | 440/4 | €11,145 | €24,413 | +€13,268 | +119.1% |
| Other amounts payable | 47/48 | €377 | - | -€377 | |
| Accrued charges and deferred income | 492/3 | €400 | €400 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,347 | €19,372 | -€4,974 | -20.4% |
| Other operating charges | 640/8 | €384 | €502 | +€118 | +30.7% |
| Gross operating margin | 9900 | €67,036 | €68,820 | +€1,784 | +2.7% |
| Operating profit (loss) | 9901 | €42,304 | €48,945 | +€6,641 | +15.7% |
| Financial income | 75/76B | €183 | €145 | -€38 | -20.9% |
| Recurring financial income | 75 | €183 | €145 | -€38 | -20.9% |
| Financial charges | 65/66B | €1,635 | €1,702 | +€66 | +4.1% |
| Recurring financial charges | 65 | €1,635 | €1,702 | +€66 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €40,852 | €47,388 | +€6,536 | +16.0% |
| Income taxes | 67/77 | €13,779 | €16,965 | +€3,186 | +23.1% |
| Profit (loss) for the period | 9904 | €27,074 | €30,424 | +€3,350 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,074 | €30,424 | +€3,350 | +12.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.