Hans Dhondt: 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.
Hans Dhondt
Largest movements
- Cash +€123,500
up €123,500 (+30.9%), from €400,303 to €523,803
mainly Net result for the year (+€121,255) and Depreciation (+€31,561)
- Tangible fixed assets -€28,214
down €28,214 (-9.9%), from €284,254 to €256,040
of which Furniture and vehicles: -€22,818
- Reserves +€121,255
up €121,255 (+17.1%), from €708,769 to €830,025
of which Distributable reserves: +€121,255
- Debts after one year -€20,359
down €20,359 (-100%), from €20,359 to €0
- Gross operating margin -€49,893
down €49,893 (-19.5%), from €255,608 to €205,715
- Taxes -€14,053
down €14,053 (-21.3%), from €66,011 to €51,958
- Depreciation -€3,015
down €3,015 (-8.7%), from €34,576 to €31,561
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 | €791,323 | €890,748 | +€99,424 | +12.6% |
| Fixed assets | 21/28 | €319,283 | €293,569 | -€25,714 | -8.1% |
| Tangible fixed assets | 22/27 | €284,254 | €256,040 | -€28,214 | -9.9% |
| Land and buildings | 22 | €201,557 | €196,375 | -€5,182 | -2.6% |
| Plant, machinery and equipment | 23 | €395 | €181 | -€214 | -54.2% |
| Furniture and vehicles | 24 | €82,301 | €59,484 | -€22,818 | -27.7% |
| Financial fixed assets | 28 | €35,029 | €37,529 | +€2,500 | +7.1% |
| Current assets | 29/58 | €472,041 | €597,179 | +€125,138 | +26.5% |
| Amounts receivable within one year | 40/41 | €69,231 | €70,759 | +€1,528 | +2.2% |
| Trade receivables | 40 | €61,731 | €63,914 | +€2,183 | +3.5% |
| Other amounts receivable | 41 | €7,500 | €6,845 | -€655 | -8.7% |
| Cash at bank and in hand | 54/58 | €400,303 | €523,803 | +€123,500 | +30.9% |
| Deferred charges and accrued income | 490/1 | €2,506 | €2,616 | +€110 | +4.4% |
| Total equity and liabilities | 10/49 | €791,323 | €890,748 | +€99,424 | +12.6% |
| Equity | 10/15 | €714,969 | €836,225 | +€121,255 | +17.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €708,769 | €830,025 | +€121,255 | +17.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €708,769 | €830,025 | +€121,255 | +17.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €76,354 | €54,523 | -€21,831 | -28.6% |
| Amounts payable after more than one year | 17 | €20,359 | €0 | -€20,359 | -100% |
| Financial debts | 170/4 | €20,359 | €0 | -€20,359 | -100% |
| Amounts payable within one year | 42/48 | €55,995 | €54,523 | -€1,473 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €20,178 | €20,359 | +€181 | +0.9% |
| Trade debts | 44 | €8,454 | €5,776 | -€2,678 | -31.7% |
| Suppliers | 440/4 | €8,454 | €5,776 | -€2,678 | -31.7% |
| Taxes, remuneration and social security | 45 | €27,364 | €28,388 | +€1,025 | +3.7% |
| Taxes | 450/3 | €24,356 | €25,361 | +€1,004 | +4.1% |
| Remuneration and social security | 454/9 | €3,007 | €3,028 | +€21 | +0.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €39,500 | €0 | -€39,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,576 | €31,561 | -€3,015 | -8.7% |
| Other operating charges | 640/8 | €3,201 | €2,802 | -€399 | -12.5% |
| Non-recurring operating charges | 66A | €1,500 | €0 | -€1,500 | -100% |
| Gross operating margin | 9900 | €255,608 | €205,715 | -€49,893 | -19.5% |
| Operating profit (loss) | 9901 | €216,331 | €171,352 | -€44,979 | -20.8% |
| Financial income | 75/76B | €1,972 | €2,392 | +€420 | +21.3% |
| Recurring financial income | 75 | €1,972 | €2,392 | +€420 | +21.3% |
| Financial charges | 65/66B | €1,306 | €531 | -€775 | -59.3% |
| Recurring financial charges | 65 | €1,306 | €531 | -€775 | -59.3% |
| Profit (loss) for the period before taxes | 9903 | €216,997 | €173,213 | -€43,784 | -20.2% |
| Income taxes | 67/77 | €66,011 | €51,958 | -€14,053 | -21.3% |
| Profit (loss) for the period | 9904 | €150,987 | €121,255 | -€29,731 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €150,987 | €121,255 | -€29,731 | -19.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.