Patrick Dewilde: 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.
Patrick Dewilde
Largest movements
- Tangible fixed assets +€313,185
up €313,185 (+56.7%), from €551,991 to €865,176
of which Land and buildings: +€316,536
- Cash -€260,569
down €260,569 (-62.4%), from €417,623 to €157,054
mainly Investment in fixed assets (net) (-€333,248) and Current investments (-€250,000)
- Current investments +€250,000
up €250,000, from €0 to €250,000
- Receivables within one year -€41,655
down €41,655 (-48.2%), from €86,401 to €44,746
of which Other amounts receivable: -€40,498
- Debts after one year +€241,460
up €241,460 (+121.0%), from €199,525 to €440,985
- Reserves +€61,992
up €61,992 (+8.4%), from €733,994 to €795,987
of which Distributable reserves: +€61,992
- Tax, wage and social debts -€54,961
down €54,961 (-58.3%), from €94,332 to €39,371
- Gross operating margin -€53,347
down €53,347 (-25.1%), from €212,474 to €159,127
- Taxes -€15,956
down €15,956 (-29.5%), from €54,126 to €38,170
- Depreciation -€15,753
down €15,753 (-44.0%), from €35,817 to €20,064
- Financial charges +€7,766
up €7,766 (+123.4%), from €6,293 to €14,059
- Financial income -€3,134
down €3,134 (-50.1%), from €6,253 to €3,119
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 | €1,056,014 | €1,316,976 | +€260,961 | +24.7% |
| Fixed assets | 21/28 | €551,991 | €865,176 | +€313,185 | +56.7% |
| Tangible fixed assets | 22/27 | €551,991 | €865,176 | +€313,185 | +56.7% |
| Land and buildings | 22 | €543,645 | €860,181 | +€316,536 | +58.2% |
| Furniture and vehicles | 24 | €8,346 | €4,995 | -€3,351 | -40.1% |
| Current assets | 29/58 | €504,024 | €451,800 | -€52,224 | -10.4% |
| Amounts receivable within one year | 40/41 | €86,401 | €44,746 | -€41,655 | -48.2% |
| Trade receivables | 40 | €1,156 | €0 | -€1,156 | -100.0% |
| Other amounts receivable | 41 | €85,244 | €44,746 | -€40,498 | -47.5% |
| Current investments | 50/53 | €0 | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €417,623 | €157,054 | -€260,569 | -62.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,056,014 | €1,316,976 | +€260,961 | +24.7% |
| Equity | 10/15 | €748,994 | €810,987 | +€61,992 | +8.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €733,994 | €795,987 | +€61,992 | +8.4% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €732,139 | €794,132 | +€61,992 | +8.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €307,020 | €505,989 | +€198,969 | +64.8% |
| Amounts payable after more than one year | 17 | €199,525 | €440,985 | +€241,460 | +121.0% |
| Financial debts | 170/4 | €199,525 | €440,985 | +€241,460 | +121.0% |
| Amounts payable within one year | 42/48 | €107,495 | €65,004 | -€42,491 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | - | €10,389 | +€10,389 | |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €13,162 | €12,239 | -€923 | -7.0% |
| Suppliers | 440/4 | €13,162 | €12,239 | -€923 | -7.0% |
| Taxes, remuneration and social security | 45 | €94,332 | €39,371 | -€54,961 | -58.3% |
| Taxes | 450/3 | €94,332 | €39,371 | -€54,961 | -58.3% |
| Other amounts payable | 47/48 | €0 | €3,005 | +€3,005 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,817 | €20,064 | -€15,753 | -44.0% |
| Other operating charges | 640/8 | €1,574 | €1,369 | -€205 | -13.0% |
| Gross operating margin | 9900 | €212,474 | €159,127 | -€53,347 | -25.1% |
| Operating profit (loss) | 9901 | €175,084 | €137,695 | -€37,389 | -21.4% |
| Financial income | 75/76B | €6,253 | €3,119 | -€3,134 | -50.1% |
| Recurring financial income | 75 | €6,253 | €3,119 | -€3,134 | -50.1% |
| Financial charges | 65/66B | €6,293 | €14,059 | +€7,766 | +123.4% |
| Recurring financial charges | 65 | €6,293 | €14,059 | +€7,766 | +123.4% |
| Profit (loss) for the period before taxes | 9903 | €175,044 | €126,755 | -€48,289 | -27.6% |
| Income taxes | 67/77 | €54,126 | €38,170 | -€15,956 | -29.5% |
| Profit (loss) for the period | 9904 | €120,918 | €88,585 | -€32,333 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €120,918 | €88,585 | -€32,333 | -26.7% |
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 30 September 2026 via checked.be.