Em. Prof. Dr. Patrick Cras: 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.
Em. Prof. Dr. Patrick Cras
Largest movements
- Current investments +€38,035
up €38,035 (+42.3%), from €89,838 to €127,873
- Tangible fixed assets -€14,113
down €14,113 (-20.2%), from €69,944 to €55,831
- Cash +€12,325
up €12,325 (+184.7%), from €6,671 to €18,997
mainly Net result for the year (+€51,558) and Depreciation (+€14,113)
- Deferred charges and accrued income +€3,956
up €3,956 (+133.6%), from €2,962 to €6,918
- Reserves +€51,558
up €51,558 (+51.6%), from €99,885 to €151,443
- Debts after one year -€12,297
down €12,297 (-32.3%), from €38,084 to €25,787
- Gross operating margin -€43,018
down €43,018 (-31.8%), from €135,178 to €92,161
- Depreciation +€13,494
up €13,494 (+2181.3%), from €619 to €14,113
- Taxes -€13,305
down €13,305 (-34.8%), from €38,204 to €24,899
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 | €174,082 | €212,941 | +€38,859 | +22.3% |
| Fixed assets | 21/28 | €69,944 | €55,831 | -€14,113 | -20.2% |
| Tangible fixed assets | 22/27 | €69,944 | €55,831 | -€14,113 | -20.2% |
| Furniture and vehicles | 24 | €69,944 | €55,831 | -€14,113 | -20.2% |
| Current assets | 29/58 | €104,138 | €157,110 | +€52,972 | +50.9% |
| Amounts receivable within one year | 40/41 | €4,667 | €3,322 | -€1,345 | -28.8% |
| Trade receivables | 40 | €4,667 | €3,115 | -€1,552 | -33.2% |
| Other amounts receivable | 41 | - | €207 | +€207 | |
| Current investments | 50/53 | €89,838 | €127,873 | +€38,035 | +42.3% |
| Cash at bank and in hand | 54/58 | €6,671 | €18,997 | +€12,325 | +184.7% |
| Deferred charges and accrued income | 490/1 | €2,962 | €6,918 | +€3,956 | +133.6% |
| Total equity and liabilities | 10/49 | €174,082 | €212,941 | +€38,859 | +22.3% |
| Equity | 10/15 | €104,885 | €156,443 | +€51,558 | +49.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €99,885 | €151,443 | +€51,558 | +51.6% |
| Distributable reserves | 133 | €99,885 | €151,443 | +€51,558 | +51.6% |
| Amounts payable | 17/49 | €69,197 | €56,498 | -€12,699 | -18.4% |
| Amounts payable after more than one year | 17 | €38,084 | €25,787 | -€12,297 | -32.3% |
| Financial debts | 170/4 | €38,084 | €25,787 | -€12,297 | -32.3% |
| Amounts payable within one year | 42/48 | €31,113 | €30,711 | -€402 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €11,916 | €12,297 | +€381 | +3.2% |
| Financial debts | 43 | €222 | €48 | -€174 | -78.4% |
| Credit institutions | 430/8 | €222 | €48 | -€174 | -78.4% |
| Trade debts | 44 | €207 | €178 | -€30 | -14.2% |
| Suppliers | 440/4 | €207 | €178 | -€30 | -14.2% |
| Advances received on contracts in progress | 46 | €1,815 | €1,667 | -€148 | -8.2% |
| Taxes, remuneration and social security | 45 | €16,204 | €16,204 | = | 0.0% |
| Taxes | 450/3 | €16,204 | €16,204 | = | 0.0% |
| Other amounts payable | 47/48 | €748 | €317 | -€432 | -57.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €619 | €14,113 | +€13,494 | +2181.3% |
| Other operating charges | 640/8 | €831 | €350 | -€480 | -57.8% |
| Gross operating margin | 9900 | €135,178 | €92,161 | -€43,018 | -31.8% |
| Operating profit (loss) | 9901 | €133,729 | €77,698 | -€56,031 | -41.9% |
| Financial income | 75/76B | €0 | €356 | +€355 | +187026.3% |
| Recurring financial income | 75 | €0 | €356 | +€355 | +187026.3% |
| Financial charges | 65/66B | €477 | €1,597 | +€1,120 | +234.9% |
| Recurring financial charges | 65 | €477 | €1,597 | +€1,120 | +234.9% |
| Profit (loss) for the period before taxes | 9903 | €133,253 | €76,457 | -€56,795 | -42.6% |
| Income taxes | 67/77 | €38,204 | €24,899 | -€13,305 | -34.8% |
| Profit (loss) for the period | 9904 | €95,048 | €51,558 | -€43,490 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,048 | €51,558 | -€43,490 | -45.8% |
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 11 October 2026 via checked.be.