Gert Van Driessche: 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.
Gert Van Driessche
Largest movements
- Tangible fixed assets -€74,019
down €74,019 (-6.8%), from €1.1m to €1.0m
of which Furniture and vehicles: -€40,341
- Cash -€33,208
down €33,208 (-25.2%), from €131,889 to €98,682
mainly Debts after one year (-€77,011) and Contributions, distributions and other (-€45,000)
- Debts after one year -€77,011
down €77,011 (-14.4%), from €536,451 to €459,440
- Reserves -€16,659
down €16,659 (-5.2%), from €320,002 to €303,342
- Gross operating margin -€39,359
down €39,359 (-13.7%), from €288,264 to €248,906
- Depreciation -€11,487
down €11,487 (-13.2%), from €87,239 to €75,752
- Staff costs +€8,107
up €8,107 (+7.6%), from €106,489 to €114,595
- Taxes -€7,884
down €7,884 (-35.2%), from €22,373 to €14,488
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 | €1,242,354 | €1,130,828 | -€111,526 | -9.0% |
| Fixed assets | 21/28 | €1,089,742 | €1,015,723 | -€74,019 | -6.8% |
| Tangible fixed assets | 22/27 | €1,089,742 | €1,015,723 | -€74,019 | -6.8% |
| Land and buildings | 22 | €976,091 | €944,337 | -€31,755 | -3.3% |
| Plant, machinery and equipment | 23 | €1,195 | €757 | -€438 | -36.7% |
| Furniture and vehicles | 24 | €105,920 | €65,579 | -€40,341 | -38.1% |
| Other tangible fixed assets | 26 | €6,536 | €5,050 | -€1,485 | -22.7% |
| Current assets | 29/58 | €152,612 | €115,105 | -€37,507 | -24.6% |
| Cash at bank and in hand | 54/58 | €131,889 | €98,682 | -€33,208 | -25.2% |
| Deferred charges and accrued income | 490/1 | €20,722 | €16,423 | -€4,299 | -20.7% |
| Total equity and liabilities | 10/49 | €1,242,354 | €1,130,828 | -€111,526 | -9.0% |
| Equity | 10/15 | €506,543 | €489,884 | -€16,659 | -3.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €320,002 | €303,342 | -€16,659 | -5.2% |
| Distributable reserves | 133 | €320,002 | €303,342 | -€16,659 | -5.2% |
| Profit (loss) carried forward | 14 | €166,542 | €166,542 | = | 0.0% |
| Amounts payable | 17/49 | €735,811 | €640,944 | -€94,867 | -12.9% |
| Amounts payable after more than one year | 17 | €536,451 | €459,440 | -€77,011 | -14.4% |
| Financial debts | 170/4 | €536,451 | €459,440 | -€77,011 | -14.4% |
| Amounts payable within one year | 42/48 | €197,831 | €178,813 | -€19,018 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €82,640 | €81,102 | -€1,539 | -1.9% |
| Trade debts | 44 | €7,756 | €6,511 | -€1,245 | -16.1% |
| Suppliers | 440/4 | €7,756 | €6,511 | -€1,245 | -16.1% |
| Taxes, remuneration and social security | 45 | €34,241 | €24,845 | -€9,396 | -27.4% |
| Taxes | 450/3 | €22,867 | €12,486 | -€10,381 | -45.4% |
| Remuneration and social security | 454/9 | €11,374 | €12,359 | +€984 | +8.7% |
| Other amounts payable | 47/48 | €73,194 | €66,355 | -€6,838 | -9.3% |
| Accrued charges and deferred income | 492/3 | €1,528 | €2,691 | +€1,163 | +76.1% |
| Remuneration, social security and pensions | 62 | €106,489 | €114,595 | +€8,107 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,239 | €75,752 | -€11,487 | -13.2% |
| Other operating charges | 640/8 | €8,751 | €6,770 | -€1,982 | -22.6% |
| Gross operating margin | 9900 | €288,264 | €248,906 | -€39,359 | -13.7% |
| Operating profit (loss) | 9901 | €85,785 | €51,789 | -€33,997 | -39.6% |
| Financial income | 75/76B | €327 | €930 | +€602 | +184% |
| Recurring financial income | 75 | €327 | €930 | +€602 | +184% |
| Financial charges | 65/66B | €11,478 | €9,889 | -€1,589 | -13.8% |
| Recurring financial charges | 65 | €11,478 | €9,889 | -€1,589 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €74,634 | €42,829 | -€31,805 | -42.6% |
| Income taxes | 67/77 | €22,373 | €14,488 | -€7,884 | -35.2% |
| Profit (loss) for the period | 9904 | €52,262 | €28,341 | -€23,921 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €52,262 | €28,341 | -€23,921 | -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 26 October 2026 via checked.be.