DR. Yves GASPAR: what changed
DR. Yves GASPAR
Largest movements
- Cash -€48,913
down €48,913 (-54.9%), from €89,128 to €40,215
mainly Contributions, distributions and other (-€181,038) and Investment in fixed assets (net) (-€51,780)
- Receivables within one year +€32,783
up €32,783 (+30.2%), from €108,691 to €141,475
of which Other amounts receivable: +€31,983
- Tangible fixed assets +€14,567
up €14,567 (+17.8%), from €81,831 to €96,398
of which Furniture and vehicles: +€22,500
- Deferred charges and accrued income -€9,809
down €9,809 (-6.0%), from €164,347 to €154,538
- Other debts +€46,983
up €46,983 (+50.1%), from €93,691 to €140,675
- Reserves -€46,150
down €46,150 (-33.0%), from €139,994 to €93,844
- Tax, wage and social debts -€12,678
down €12,678 (-13.6%), from €93,399 to €80,722
- Debts after one year -€7,937
down €7,937 (-10.5%), from €75,615 to €67,678
- Current portion of long-term debt +€5,631
up €5,631 (+23.5%), from €23,942 to €29,573
- Gross operating margin -€37,672
down €37,672 (-15.1%), from €248,707 to €211,035
- Financial income +€16,585
new in 2025: €16,585
of which Non-recurring financial income: +€16,585
- Depreciation +€14,578
up €14,578 (+64.4%), from €22,634 to €37,213
- Taxes -€13,172
down €13,172 (-23.0%), from €57,265 to €44,093
- Other operating charges +€4,536
up €4,536 (+354%), from €1,282 to €5,817
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €443,997 | €432,625 | -€11,372 | -2.6% |
| Fixed assets | 21/28 | €81,831 | €96,398 | +€14,567 | +17.8% |
| Tangible fixed assets | 22/27 | €81,831 | €96,398 | +€14,567 | +17.8% |
| Plant, machinery and equipment | 23 | €8,854 | €9,075 | +€221 | +2.5% |
| Furniture and vehicles | 24 | €32,206 | €54,706 | +€22,500 | +69.9% |
| Leasing and similar rights | 25 | €40,771 | €32,617 | -€8,154 | -20.0% |
| Current assets | 29/58 | €362,166 | €336,227 | -€25,939 | -7.2% |
| Amounts receivable within one year | 40/41 | €108,691 | €141,475 | +€32,783 | +30.2% |
| Trade receivables | 40 | - | €800 | +€800 | |
| Other amounts receivable | 41 | €108,691 | €140,675 | +€31,983 | +29.4% |
| Cash at bank and in hand | 54/58 | €89,128 | €40,215 | -€48,913 | -54.9% |
| Deferred charges and accrued income | 490/1 | €164,347 | €154,538 | -€9,809 | -6.0% |
| Total equity and liabilities | 10/49 | €443,997 | €432,625 | -€11,372 | -2.6% |
| Equity | 10/15 | €152,394 | €106,244 | -€46,150 | -30.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €139,994 | €93,844 | -€46,150 | -33.0% |
| Distributable reserves | 133 | €139,994 | €93,844 | -€46,150 | -33.0% |
| Amounts payable | 17/49 | €291,603 | €326,382 | +€34,778 | +11.9% |
| Amounts payable after more than one year | 17 | €75,615 | €67,678 | -€7,937 | -10.5% |
| Financial debts | 170/4 | €75,615 | €67,678 | -€7,937 | -10.5% |
| Amounts payable within one year | 42/48 | €214,788 | €253,350 | +€38,562 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €23,942 | €29,573 | +€5,631 | +23.5% |
| Trade debts | 44 | €3,756 | €2,381 | -€1,375 | -36.6% |
| Suppliers | 440/4 | €3,756 | €2,381 | -€1,375 | -36.6% |
| Taxes, remuneration and social security | 45 | €93,399 | €80,722 | -€12,678 | -13.6% |
| Taxes | 450/3 | €93,399 | €80,722 | -€12,678 | -13.6% |
| Other amounts payable | 47/48 | €93,691 | €140,675 | +€46,983 | +50.1% |
| Accrued charges and deferred income | 492/3 | €1,200 | €5,354 | +€4,154 | +346% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,634 | €37,213 | +€14,578 | +64.4% |
| Other operating charges | 640/8 | €1,282 | €5,817 | +€4,536 | +354% |
| Gross operating margin | 9900 | €248,707 | €211,035 | -€37,672 | -15.1% |
| Operating profit (loss) | 9901 | €224,791 | €168,005 | -€56,786 | -25.3% |
| Financial income | 75/76B | - | €16,585 | +€16,585 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €16,585 | +€16,585 | |
| Financial charges | 65/66B | €5,561 | €5,610 | +€49 | +0.9% |
| Recurring financial charges | 65 | €5,561 | €5,610 | +€49 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €219,230 | €178,981 | -€40,250 | -18.4% |
| Income taxes | 67/77 | €57,265 | €44,093 | -€13,172 | -23.0% |
| Profit (loss) for the period | 9904 | €161,965 | €134,888 | -€27,077 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €161,965 | €134,888 | -€27,077 | -16.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.