Erwin DOUMEN: 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.
Erwin DOUMEN
Largest movements
- Current investments +€1.1m
up €1.1m (+54.4%), from €2.1m to €3.2m
- Cash -€694,617
down €694,617 (-82.2%), from €845,018 to €150,402
mainly Current investments (-€1.1m) and Receivables within one year (-€111,094)
- Receivables within one year +€111,094
up €111,094 (+31.1%), from €356,911 to €468,005
of which Trade receivables: +€99,840
- Reserves +€575,329
up €575,329 (+19.2%), from €3.0m to €3.6m
of which Distributable reserves: +€660,130
- Tax, wage and social debts -€63,331
down €63,331 (-41.4%), from €152,891 to €89,561
of which Taxes: -€63,331
- Gross operating margin +€112,504
up €112,504 (+16.2%), from €695,183 to €807,688
- Financial income -€47,793
down €47,793 (-42.3%), from €112,883 to €65,090
- Taxes +€21,786
up €21,786 (+8.9%), from €244,442 to €266,227
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 | €3,735,458 | €4,259,138 | +€523,680 | +14.0% |
| Fixed assets | 21/28 | €472,939 | €453,452 | -€19,487 | -4.1% |
| Tangible fixed assets | 22/27 | €472,939 | €453,452 | -€19,487 | -4.1% |
| Land and buildings | 22 | €471,095 | €452,621 | -€18,475 | -3.9% |
| Furniture and vehicles | 24 | €1,844 | €831 | -€1,012 | -54.9% |
| Current assets | 29/58 | €3,262,519 | €3,805,686 | +€543,167 | +16.6% |
| Amounts receivable within one year | 40/41 | €356,911 | €468,005 | +€111,094 | +31.1% |
| Trade receivables | 40 | €75,560 | €175,400 | +€99,840 | +132% |
| Other amounts receivable | 41 | €281,351 | €292,605 | +€11,254 | +4.0% |
| Current investments | 50/53 | €2,056,929 | €3,175,352 | +€1.1m | +54.4% |
| Cash at bank and in hand | 54/58 | €845,018 | €150,402 | -€694,617 | -82.2% |
| Deferred charges and accrued income | 490/1 | €3,661 | €11,928 | +€8,267 | +226% |
| Total equity and liabilities | 10/49 | €3,735,458 | €4,259,138 | +€523,680 | +14.0% |
| Equity | 10/15 | €3,222,154 | €3,797,484 | +€575,329 | +17.9% |
| Contributions | 10/11 | €17,330 | €17,330 | = | 0.0% |
| Revaluation surpluses | 12 | €203,345 | €203,345 | = | 0.0% |
| Reserves | 13 | €3,001,480 | €3,576,809 | +€575,329 | +19.2% |
| Tax-exempt reserves | 132 | €444,346 | €359,546 | -€84,801 | -19.1% |
| Distributable reserves | 133 | €2,557,133 | €3,217,264 | +€660,130 | +25.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €513,304 | €461,655 | -€51,649 | -10.1% |
| Amounts payable within one year | 42/48 | €509,927 | €459,250 | -€50,677 | -9.9% |
| Trade debts | 44 | €15,771 | €2,018 | -€13,753 | -87.2% |
| Suppliers | 440/4 | €15,771 | €2,018 | -€13,753 | -87.2% |
| Taxes, remuneration and social security | 45 | €152,891 | €89,561 | -€63,331 | -41.4% |
| Taxes | 450/3 | €149,491 | €86,161 | -€63,331 | -42.4% |
| Remuneration and social security | 454/9 | €3,400 | €3,400 | = | 0.0% |
| Other amounts payable | 47/48 | €341,265 | €367,671 | +€26,407 | +7.7% |
| Accrued charges and deferred income | 492/3 | €3,377 | €2,405 | -€972 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,382 | €19,487 | -€3,895 | -16.7% |
| Other operating charges | 640/8 | €10,251 | €11,273 | +€1,023 | +10.0% |
| Gross operating margin | 9900 | €695,183 | €807,688 | +€112,504 | +16.2% |
| Operating profit (loss) | 9901 | €661,551 | €776,927 | +€115,376 | +17.4% |
| Financial income | 75/76B | €112,883 | €65,090 | -€47,793 | -42.3% |
| Recurring financial income | 75 | €112,883 | €65,090 | -€47,793 | -42.3% |
| Financial charges | 65/66B | €268 | €461 | +€193 | +72.0% |
| Recurring financial charges | 65 | €268 | €461 | +€193 | +72.0% |
| Profit (loss) for the period before taxes | 9903 | €774,166 | €841,557 | +€67,391 | +8.7% |
| Income taxes | 67/77 | €244,442 | €266,227 | +€21,786 | +8.9% |
| Profit (loss) for the period | 9904 | €529,724 | €575,329 | +€45,605 | +8.6% |
| Transfer from tax-exempt reserves | 789 | €209,720 | €274,251 | +€64,531 | +30.8% |
| Transfer to tax-exempt reserves | 689 | €0 | €189,450 | +€189,450 | |
| Profit (loss) for the period to be appropriated | 9905 | €739,444 | €660,130 | -€79,314 | -10.7% |
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 17 October 2026 via checked.be.