ROBERT DEPONDT: 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.
ROBERT DEPONDT
Largest movements
- Tangible fixed assets -€40,683
down €40,683 (-13.6%), from €299,202 to €258,519
- Investment grants -€29,228
down €29,228 (-35.7%), from €81,857 to €52,629
- Provisions -€7,439
down €7,439 (-36.7%), from €20,265 to €12,826
- Profit (loss) carried forward -€6,778
down €6,778 (-4.3%), from -€158,522 to -€165,300
- Financial income +€7,463
up €7,463 (+34.3%), from €21,766 to €29,228
- Gross operating margin +€6,008
up €6,008 (+90.6%), from -€6,630 to -€622
- Depreciation -€1,896
down €1,896 (-4.5%), from €42,578 to €40,683
- Other operating charges +€129
up €129 (+6.5%), from €1,981 to €2,111
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 | €302,901 | €263,253 | -€39,648 | -13.1% |
| Fixed assets | 21/28 | €300,342 | €259,659 | -€40,683 | -13.5% |
| Tangible fixed assets | 22/27 | €299,202 | €258,519 | -€40,683 | -13.6% |
| Land and buildings | 22 | €299,202 | €258,519 | -€40,683 | -13.6% |
| Financial fixed assets | 28 | €1,140 | €1,140 | = | 0.0% |
| Current assets | 29/58 | €2,560 | €3,594 | +€1,034 | +40.4% |
| Cash at bank and in hand | 54/58 | €106 | €1,262 | +€1,156 | +1087.2% |
| Deferred charges and accrued income | 490/1 | €2,453 | €2,332 | -€121 | -4.9% |
| Total equity and liabilities | 10/49 | €302,901 | €263,253 | -€39,648 | -13.1% |
| Equity | 10/15 | €5,538 | -€30,468 | -€36,007 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €69,803 | €69,803 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,999 | €16,999 | = | 0.0% |
| Distributable reserves | 133 | €52,804 | €52,804 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€158,522 | -€165,300 | -€6,778 | -4.3% |
| Investment grants | 15 | €81,857 | €52,629 | -€29,228 | -35.7% |
| Provisions and deferred taxes | 16 | €20,265 | €12,826 | -€7,439 | -36.7% |
| Deferred taxes | 168 | €20,265 | €12,826 | -€7,439 | -36.7% |
| Amounts payable | 17/49 | €277,098 | €280,895 | +€3,797 | +1.4% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,510 | €29,307 | +€3,797 | +14.9% |
| Trade debts | 44 | €1,115 | €2,775 | +€1,660 | +148.8% |
| Suppliers | 440/4 | €1,115 | €2,775 | +€1,660 | +148.8% |
| Other amounts payable | 47/48 | €24,394 | €26,532 | +€2,137 | +8.8% |
| Accrued charges and deferred income | 492/3 | €1,589 | €1,589 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,578 | €40,683 | -€1,896 | -4.5% |
| Other operating charges | 640/8 | €1,981 | €2,111 | +€129 | +6.5% |
| Gross operating margin | 9900 | -€6,630 | -€622 | +€6,008 | +90.6% |
| Operating profit (loss) | 9901 | -€51,189 | -€43,416 | +€7,774 | +15.2% |
| Financial income | 75/76B | €21,766 | €29,228 | +€7,463 | +34.3% |
| Recurring financial income | 75 | €21,766 | €29,228 | +€7,463 | +34.3% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,452 | -€14,217 | +€15,235 | +51.7% |
| Transfer from deferred taxes | 780 | €7,255 | €7,439 | +€184 | +2.5% |
| Profit (loss) for the period | 9904 | -€22,197 | -€6,778 | +€15,419 | +69.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,197 | -€6,778 | +€15,419 | +69.5% |
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 9 October 2026 via checked.be.