DROIT DE REGARD: 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.
DROIT DE REGARD
Largest movements
- Cash +€33,147
up €33,147 (+40.5%), from €81,748 to €114,895
mainly Net result for the year (+€40,246) and Depreciation (+€15,297)
- Tangible fixed assets -€12,582
down €12,582 (-3.7%), from €338,687 to €326,105
of which Land and buildings: -€15,057
- Profit (loss) carried forward +€40,246
up €40,246 (+42.7%), from €94,231 to €134,477
- Debts after one year -€34,000
down €34,000 (-18.2%), from €187,000 to €153,000
- Tax, wage and social debts +€11,836
up €11,836 (+31.7%), from €37,284 to €49,120
of which Taxes: +€13,346
- Gross operating margin -€61,623
down €61,623 (-33.8%), from €182,173 to €120,549
- Staff costs -€43,134
down €43,134 (-48.3%), from €89,362 to €46,228
- Taxes -€4,676
down €4,676 (-24.2%), from €19,352 to €14,676
- Financial income +€2,730
up €2,730 (+64.1%), from €4,261 to €6,991
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 | €700,143 | €715,527 | +€15,384 | +2.2% |
| Fixed assets | 21/28 | €339,178 | €326,596 | -€12,582 | -3.7% |
| Tangible fixed assets | 22/27 | €338,687 | €326,105 | -€12,582 | -3.7% |
| Land and buildings | 22 | €338,687 | €323,630 | -€15,057 | -4.4% |
| Other tangible fixed assets | 26 | - | €2,475 | +€2,475 | |
| Financial fixed assets | 28 | €491 | €491 | = | 0.0% |
| Current assets | 29/58 | €360,965 | €388,931 | +€27,966 | +7.7% |
| Stocks and contracts in progress | 3 | €278,019 | €272,931 | -€5,088 | -1.8% |
| Stocks | 30/36 | €278,019 | €272,931 | -€5,088 | -1.8% |
| Amounts receivable within one year | 40/41 | - | €39 | +€39 | |
| Other amounts receivable | 41 | - | €39 | +€39 | |
| Cash at bank and in hand | 54/58 | €81,748 | €114,895 | +€33,147 | +40.5% |
| Deferred charges and accrued income | 490/1 | €1,198 | €1,066 | -€132 | -11.0% |
| Total equity and liabilities | 10/49 | €700,143 | €715,527 | +€15,384 | +2.2% |
| Equity | 10/15 | €217,130 | €254,862 | +€37,731 | +17.4% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,231 | €134,477 | +€40,246 | +42.7% |
| Investment grants | 15 | €54,729 | €52,214 | -€2,515 | -4.6% |
| Amounts payable | 17/49 | €483,013 | €460,665 | -€22,347 | -4.6% |
| Amounts payable after more than one year | 17 | €187,000 | €153,000 | -€34,000 | -18.2% |
| Financial debts | 170/4 | €187,000 | €153,000 | -€34,000 | -18.2% |
| Amounts payable within one year | 42/48 | €295,700 | €307,588 | +€11,888 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €34,000 | €34,000 | = | 0.0% |
| Trade debts | 44 | €7,292 | €7,468 | +€176 | +2.4% |
| Suppliers | 440/4 | €7,292 | €7,468 | +€176 | +2.4% |
| Taxes, remuneration and social security | 45 | €37,284 | €49,120 | +€11,836 | +31.7% |
| Taxes | 450/3 | €30,118 | €43,463 | +€13,346 | +44.3% |
| Remuneration and social security | 454/9 | €7,166 | €5,656 | -€1,509 | -21.1% |
| Other amounts payable | 47/48 | €217,124 | €217,000 | -€124 | -0.1% |
| Accrued charges and deferred income | 492/3 | €313 | €77 | -€236 | -75.4% |
| Remuneration, social security and pensions | 62 | €89,362 | €46,228 | -€43,134 | -48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,413 | €15,297 | -€1,116 | -6.8% |
| Other operating charges | 640/8 | €3,664 | €3,765 | +€101 | +2.8% |
| Gross operating margin | 9900 | €182,173 | €120,549 | -€61,623 | -33.8% |
| Operating profit (loss) | 9901 | €72,734 | €55,260 | -€17,474 | -24.0% |
| Financial income | 75/76B | €4,261 | €6,991 | +€2,730 | +64.1% |
| Recurring financial income | 75 | €4,261 | €6,991 | +€2,730 | +64.1% |
| Financial charges | 65/66B | €7,893 | €7,328 | -€565 | -7.2% |
| Recurring financial charges | 65 | €7,893 | €7,328 | -€565 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €69,102 | €54,922 | -€14,179 | -20.5% |
| Income taxes | 67/77 | €19,352 | €14,676 | -€4,676 | -24.2% |
| Profit (loss) for the period | 9904 | €49,749 | €40,246 | -€9,503 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,749 | €40,246 | -€9,503 | -19.1% |
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 27 October 2026 via checked.be.