R. Debergh: 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.
R. Debergh
Largest movements
- Cash +€32,425
up €32,425 (+55.2%), from €58,760 to €91,184
mainly Net result for the year (+€15,659) and Current investments (+€12,554)
- Current investments -€12,554
down €12,554 (-1.8%), from €691,654 to €679,100
- Reserves +€15,659
up €15,659 (+2.1%), from €743,428 to €759,087
- Financial income -€7,999
down €7,999 (-27.1%), from €29,511 to €21,512
- Taxes -€854
down €854 (-13.9%), from €6,160 to €5,306
- Gross operating margin +€202
up €202 (+47.5%), from €424 to €625
- Other operating charges +€181
up €181 (+40.1%), from €451 to €632
- Financial charges +€20
up €20 (+15.0%), from €135 to €155
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 | €759,276 | €775,434 | +€16,158 | +2.1% |
| Fixed assets | 21/28 | €551 | €166 | -€386 | -69.9% |
| Tangible fixed assets | 22/27 | €551 | €166 | -€386 | -69.9% |
| Plant, machinery and equipment | 23 | €240 | €129 | -€111 | -46.2% |
| Furniture and vehicles | 24 | €311 | €37 | -€275 | -88.2% |
| Current assets | 29/58 | €758,725 | €775,268 | +€16,543 | +2.2% |
| Amounts receivable within one year | 40/41 | €1,581 | €291 | -€1,289 | -81.6% |
| Trade receivables | 40 | €1,339 | €0 | -€1,339 | -100% |
| Other amounts receivable | 41 | €241 | €291 | +€50 | +20.7% |
| Current investments | 50/53 | €691,654 | €679,100 | -€12,554 | -1.8% |
| Cash at bank and in hand | 54/58 | €58,760 | €91,184 | +€32,425 | +55.2% |
| Deferred charges and accrued income | 490/1 | €6,730 | €4,693 | -€2,038 | -30.3% |
| Total equity and liabilities | 10/49 | €759,276 | €775,434 | +€16,158 | +2.1% |
| Equity | 10/15 | €756,028 | €771,687 | +€15,659 | +2.1% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €743,428 | €759,087 | +€15,659 | +2.1% |
| Distributable reserves | 133 | €743,428 | €759,087 | +€15,659 | +2.1% |
| Amounts payable | 17/49 | €3,248 | €3,747 | +€499 | +15.4% |
| Amounts payable within one year | 42/48 | €1,747 | €2,709 | +€962 | +55.0% |
| Trade debts | 44 | €460 | €204 | -€256 | -55.7% |
| Suppliers | 440/4 | €460 | €204 | -€256 | -55.7% |
| Taxes, remuneration and social security | 45 | €1,287 | €2,505 | +€1,218 | +94.6% |
| Taxes | 450/3 | €1,287 | €2,505 | +€1,218 | +94.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,501 | €1,038 | -€463 | -30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €367 | €386 | +€18 | +5.0% |
| Other operating charges | 640/8 | €451 | €632 | +€181 | +40.1% |
| Gross operating margin | 9900 | €424 | €625 | +€202 | +47.5% |
| Operating profit (loss) | 9901 | -€394 | -€392 | +€2 | +0.6% |
| Financial income | 75/76B | €29,511 | €21,512 | -€7,999 | -27.1% |
| Recurring financial income | 75 | €29,511 | €21,512 | -€7,999 | -27.1% |
| Financial charges | 65/66B | €135 | €155 | +€20 | +15.0% |
| Recurring financial charges | 65 | €135 | €155 | +€20 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €28,981 | €20,965 | -€8,017 | -27.7% |
| Income taxes | 67/77 | €6,160 | €5,306 | -€854 | -13.9% |
| Profit (loss) for the period | 9904 | €22,822 | €15,659 | -€7,163 | -31.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,822 | €15,659 | -€7,163 | -31.4% |
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 21 October 2026 via checked.be.