DR. WOUTER VANDER LINDEN: 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 VANDER LINDEN
Largest movements
- Tangible fixed assets -€35,826
down €35,826 (-11.1%), from €323,844 to €288,018
of which Land and buildings: -€21,942
- Cash -€5,090
down €5,090 (-8.6%), from €59,099 to €54,009
mainly Contributions, distributions and other (-€141,045) and Debts after one year (-€24,043)
- Profit (loss) carried forward -€87,916
down €87,916 (-62.3%), from €141,045 to €53,128
- Other debts +€69,871
new in 2025: €69,871
- Debts after one year -€24,043
down €24,043 (-10.4%), from €230,523 to €206,480
- Gross operating margin -€7,965
down €7,965 (-6.6%), from €121,215 to €113,250
- Taxes -€2,422
down €2,422 (-11.5%), from €21,056 to €18,634
- Depreciation -€2,070
down €2,070 (-5.5%), from €37,895 to €35,826
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 | €400,028 | €358,975 | -€41,052 | -10.3% |
| Fixed assets | 21/28 | €323,844 | €288,018 | -€35,826 | -11.1% |
| Tangible fixed assets | 22/27 | €323,844 | €288,018 | -€35,826 | -11.1% |
| Land and buildings | 22 | €290,999 | €269,058 | -€21,942 | -7.5% |
| Plant, machinery and equipment | 23 | €3,530 | €1,802 | -€1,728 | -49.0% |
| Furniture and vehicles | 24 | €29,315 | €17,159 | -€12,156 | -41.5% |
| Current assets | 29/58 | €76,184 | €70,957 | -€5,227 | -6.9% |
| Amounts receivable within one year | 40/41 | €12,906 | €12,425 | -€480 | -3.7% |
| Trade receivables | 40 | €9,500 | €12,425 | +€2,925 | +30.8% |
| Other amounts receivable | 41 | €3,406 | - | -€3,406 | |
| Cash at bank and in hand | 54/58 | €59,099 | €54,009 | -€5,090 | -8.6% |
| Deferred charges and accrued income | 490/1 | €4,179 | €4,523 | +€344 | +8.2% |
| Total equity and liabilities | 10/49 | €400,028 | €358,975 | -€41,052 | -10.3% |
| Equity | 10/15 | €143,545 | €55,628 | -€87,916 | -61.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,045 | €53,128 | -€87,916 | -62.3% |
| Amounts payable | 17/49 | €256,483 | €303,347 | +€46,864 | +18.3% |
| Amounts payable after more than one year | 17 | €230,523 | €206,480 | -€24,043 | -10.4% |
| Financial debts | 170/4 | €230,523 | €206,480 | -€24,043 | -10.4% |
| Amounts payable within one year | 42/48 | €25,895 | €96,800 | +€70,906 | +274% |
| Current portion of amounts payable after more than one year | 42 | €23,719 | €24,043 | +€324 | +1.4% |
| Trade debts | 44 | €1,119 | €1,752 | +€632 | +56.5% |
| Suppliers | 440/4 | €1,119 | €1,752 | +€632 | +56.5% |
| Taxes, remuneration and social security | 45 | €1,056 | €1,134 | +€78 | +7.4% |
| Taxes | 450/3 | €1,056 | €1,134 | +€78 | +7.4% |
| Other amounts payable | 47/48 | - | €69,871 | +€69,871 | |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Non-recurring operating income | 76A | €17,967 | €8,757 | -€9,210 | -51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,895 | €35,826 | -€2,070 | -5.5% |
| Other operating charges | 640/8 | €2,012 | €1,542 | -€470 | -23.4% |
| Gross operating margin | 9900 | €121,215 | €113,250 | -€7,965 | -6.6% |
| Operating profit (loss) | 9901 | €81,308 | €75,883 | -€5,425 | -6.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,938 | €4,120 | +€182 | +4.6% |
| Recurring financial charges | 65 | €3,938 | €4,120 | +€182 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €77,370 | €71,763 | -€5,607 | -7.2% |
| Income taxes | 67/77 | €21,056 | €18,634 | -€2,422 | -11.5% |
| Profit (loss) for the period | 9904 | €56,314 | €53,128 | -€3,185 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €56,314 | €53,128 | -€3,185 | -5.7% |
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 28 October 2026 via checked.be.