K. Dierick: what changed
Two fiscal 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.
K. Dierick
Largest movements
- Cash +€118,441
up €118,441 (+1775.3%), from €6,671 to €125,112
mainly Other debts (+€478,250) and Tax, wage and social debts (+€49,886)
- Receivables within one year +€111,718
up €111,718 (+99.6%), from €112,131 to €223,849
of which Trade receivables: +€152,482
- Financial fixed assets -€81,000
down €81,000 (-1.9%), from €4.2m to €4.1m
- Tangible fixed assets +€77,841
up €77,841 (+1140.0%), from €6,828 to €84,669
of which Furniture and vehicles: +€47,031
- Other debts +€478,250
up €478,250 (+23.1%), from €2.1m to €2.6m
- Reserves -€201,433
down €201,433 (-14.5%), from €1.4m to €1.2m
of which Distributable reserves: -€201,433
- Debts after one year -€82,120
down €82,120 (-14.0%), from €587,385 to €505,265
- Tax, wage and social debts +€49,886
up €49,886 (+167.6%), from €29,760 to €79,646
of which Taxes: +€27,953
- Financial income -€157,826
down €157,826 (-79.4%), from €198,821 to €40,995
- Turnover -€155,916
down €155,916 (-28.8%), from €542,072 to €386,157
- Staff costs -€92,558
down €92,558 (-31.2%), from €296,668 to €204,110
- Other operating income +€36,532
up €36,532 (+63.6%), from €57,451 to €93,984
- Services and other goods +€31,412
up €31,412 (+17.9%), from €175,538 to €206,950
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 | €4,338,200 | €4,568,332 | +€230,132 | +5.3% |
| Fixed assets | 21/28 | €4,219,398 | €4,216,024 | -€3,374 | -0.1% |
| Intangible fixed assets | 21 | €214 | - | -€214 | |
| Tangible fixed assets | 22/27 | €6,828 | €84,669 | +€77,841 | +1140.0% |
| Furniture and vehicles | 24 | €6,828 | €53,859 | +€47,031 | +688.8% |
| Leasing and similar rights | 25 | - | €30,810 | +€30,810 | |
| Financial fixed assets | 28 | €4,212,355 | €4,131,355 | -€81,000 | -1.9% |
| Affiliated companies | 280/1 | €4,212,355 | €4,131,355 | -€81,000 | -1.9% |
| Participating interests | 280 | €4,212,355 | €4,131,355 | -€81,000 | -1.9% |
| Current assets | 29/58 | €118,803 | €352,308 | +€233,505 | +196.5% |
| Amounts receivable within one year | 40/41 | €112,131 | €223,849 | +€111,718 | +99.6% |
| Trade receivables | 40 | €67,393 | €219,875 | +€152,482 | +226.3% |
| Other amounts receivable | 41 | €44,738 | €3,974 | -€40,764 | -91.1% |
| Cash at bank and in hand | 54/58 | €6,671 | €125,112 | +€118,441 | +1775.3% |
| Deferred charges and accrued income | 490/1 | - | €3,347 | +€3,347 | |
| Total equity and liabilities | 10/49 | €4,338,200 | €4,568,332 | +€230,132 | +5.3% |
| Equity | 10/15 | €1,498,116 | €1,296,683 | -€201,433 | -13.4% |
| Contributions | 10/11 | €109,408 | €109,408 | = | 0.0% |
| Capital | 10 | €109,408 | €109,408 | = | 0.0% |
| Issued capital | 100 | €109,408 | €109,408 | = | 0.0% |
| Reserves | 13 | €1,388,708 | €1,187,274 | -€201,433 | -14.5% |
| Non-distributable reserves | 130/1 | €10,941 | €10,941 | = | 0.0% |
| Legal reserve | 130 | €10,941 | €10,941 | = | 0.0% |
| Distributable reserves | 133 | €1,377,767 | €1,176,334 | -€201,433 | -14.6% |
| Amounts payable | 17/49 | €2,840,084 | €3,271,649 | +€431,565 | +15.2% |
| Amounts payable after more than one year | 17 | €587,385 | €505,265 | -€82,120 | -14.0% |
| Financial debts | 170/4 | €587,385 | €505,265 | -€82,120 | -14.0% |
| Credit institutions | 173 | €587,385 | €505,265 | -€82,120 | -14.0% |
| Amounts payable within one year | 42/48 | €2,244,649 | €2,759,983 | +€515,333 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €113,758 | €112,675 | -€1,083 | -1.0% |
| Financial debts | 43 | €5,859 | €505 | -€5,354 | -91.4% |
| Credit institutions | 430/8 | €5,859 | €505 | -€5,354 | -91.4% |
| Trade debts | 44 | €23,346 | €16,981 | -€6,365 | -27.3% |
| Suppliers | 440/4 | €23,346 | €16,981 | -€6,365 | -27.3% |
| Taxes, remuneration and social security | 45 | €29,760 | €79,646 | +€49,886 | +167.6% |
| Taxes | 450/3 | €14,898 | €42,851 | +€27,953 | +187.6% |
| Remuneration and social security | 454/9 | €14,862 | €36,795 | +€21,933 | +147.6% |
| Other amounts payable | 47/48 | €2,071,926 | €2,550,176 | +€478,250 | +23.1% |
| Accrued charges and deferred income | 492/3 | €8,050 | €6,401 | -€1,649 | -20.5% |
| Operating income | 70/76A | €606,055 | €481,703 | -€124,352 | -20.5% |
| Turnover | 70 | €542,072 | €386,157 | -€155,916 | -28.8% |
| Other operating income | 74 | €57,451 | €93,984 | +€36,532 | +63.6% |
| Non-recurring operating income | 76A | €6,532 | €1,563 | -€4,969 | -76.1% |
| Operating charges | 60/66A | €485,013 | €430,717 | -€54,297 | -11.2% |
| Services and other goods | 61 | €175,538 | €206,950 | +€31,412 | +17.9% |
| Remuneration, social security and pensions | 62 | €296,668 | €204,110 | -€92,558 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,153 | €16,789 | +€6,636 | +65.4% |
| Other operating charges | 640/8 | €2,655 | €2,868 | +€213 | +8.0% |
| Operating profit (loss) | 9901 | €121,042 | €50,986 | -€70,056 | -57.9% |
| Financial income | 75/76B | €198,821 | €40,995 | -€157,826 | -79.4% |
| Recurring financial income | 75 | €198,821 | €40,995 | -€157,826 | -79.4% |
| Income from financial fixed assets | 750 | €198,171 | €40,897 | -€157,274 | -79.4% |
| Other financial income | 752/9 | €650 | €99 | -€552 | -84.8% |
| Financial charges | 65/66B | €129,551 | €98,254 | -€31,297 | -24.2% |
| Recurring financial charges | 65 | €129,551 | €98,254 | -€31,297 | -24.2% |
| Other financial charges | 652/9 | €129,551 | €98,254 | -€31,297 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €190,312 | -€6,272 | -€196,584 | |
| Income taxes | 67/77 | €80 | €161 | +€82 | +102.3% |
| Taxes | 670/3 | €80 | €183 | +€103 | +128.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €21 | +€21 | |
| Profit (loss) for the period | 9904 | €190,233 | -€6,433 | -€196,666 | |
| Profit (loss) for the period to be appropriated | 9905 | €190,233 | -€6,433 | -€196,666 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.