STROBBE-DELLAERT: 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.
STROBBE-DELLAERT
Largest movements
- Cash -€347,944
down €347,944 (-78.4%), from €443,604 to €95,660
mainly Receivables after one year (-€200,000) and Net result for the year (-€118,140)
- Receivables after one year +€200,000
new in 2025: €200,000
- Tangible fixed assets -€143,638
down €143,638 (-9.6%), from €1.5m to €1.4m
of which Land and buildings: -€209,660
- Profit (loss) carried forward -€113,132
down €113,132 (-11.8%), from €962,170 to €849,038
- Current portion of long-term debt -€110,418
down €110,418 (-69.4%), from €159,034 to €48,616
- Debts after one year -€48,616
down €48,616 (-11.3%), from €428,931 to €380,315
- Gross operating margin -€176,120
down €176,120, from €107,908 to -€68,212
- Taxes -€16,321
down €16,321 (-99.6%), from €16,381 to €60
- Depreciation -€6,407
down €6,407 (-12.5%), from €51,136 to €44,729
- Financial income -€1,186
down €1,186 (-21.9%), from €5,408 to €4,223
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 | €2,000,144 | €1,708,378 | -€291,766 | -14.6% |
| Fixed assets | 21/28 | €1,502,918 | €1,359,281 | -€143,638 | -9.6% |
| Tangible fixed assets | 22/27 | €1,501,437 | €1,357,799 | -€143,638 | -9.6% |
| Land and buildings | 22 | €1,472,753 | €1,263,093 | -€209,660 | -14.2% |
| Furniture and vehicles | 24 | €28,683 | €94,706 | +€66,023 | +230.2% |
| Financial fixed assets | 28 | €1,482 | €1,482 | = | 0.0% |
| Current assets | 29/58 | €497,225 | €349,097 | -€148,128 | -29.8% |
| Amounts receivable after more than one year | 29 | - | €200,000 | +€200,000 | |
| Other amounts receivable | 291 | - | €200,000 | +€200,000 | |
| Amounts receivable within one year | 40/41 | €3,932 | - | -€3,932 | |
| Other amounts receivable | 41 | €3,932 | - | -€3,932 | |
| Current investments | 50/53 | €49,215 | €49,215 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €443,604 | €95,660 | -€347,944 | -78.4% |
| Deferred charges and accrued income | 490/1 | €475 | €4,222 | +€3,748 | +789.7% |
| Total equity and liabilities | 10/49 | €2,000,144 | €1,708,378 | -€291,766 | -14.6% |
| Equity | 10/15 | €1,290,211 | €1,172,072 | -€118,140 | -9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €309,441 | €304,434 | -€5,008 | -1.6% |
| Tax-exempt reserves | 132 | €85,881 | €80,874 | -€5,008 | -5.8% |
| Distributable reserves | 133 | €223,560 | €223,560 | = | 0.0% |
| Profit (loss) carried forward | 14 | €962,170 | €849,038 | -€113,132 | -11.8% |
| Provisions and deferred taxes | 16 | €44,222 | €41,644 | -€2,579 | -5.8% |
| Deferred taxes | 168 | €44,222 | €41,644 | -€2,579 | -5.8% |
| Amounts payable | 17/49 | €665,710 | €494,662 | -€171,048 | -25.7% |
| Amounts payable after more than one year | 17 | €428,931 | €380,315 | -€48,616 | -11.3% |
| Financial debts | 170/4 | €428,931 | €380,315 | -€48,616 | -11.3% |
| Amounts payable within one year | 42/48 | €236,779 | €114,348 | -€122,432 | -51.7% |
| Current portion of amounts payable after more than one year | 42 | €159,034 | €48,616 | -€110,418 | -69.4% |
| Financial debts | 43 | €523 | €332 | -€191 | -36.6% |
| Credit institutions | 430/8 | €523 | €332 | -€191 | -36.6% |
| Trade debts | 44 | €3,706 | €4,438 | +€732 | +19.8% |
| Suppliers | 440/4 | €3,706 | €4,438 | +€732 | +19.8% |
| Taxes, remuneration and social security | 45 | €28,150 | €12,810 | -€15,340 | -54.5% |
| Taxes | 450/3 | €15,401 | €60 | -€15,340 | -99.6% |
| Remuneration and social security | 454/9 | €12,750 | €12,750 | = | 0.0% |
| Other amounts payable | 47/48 | €45,366 | €48,151 | +€2,785 | +6.1% |
| Non-recurring operating income | 76A | €277,961 | €80,869 | -€197,092 | -70.9% |
| Remuneration, social security and pensions | 62 | €2,755 | €2,772 | +€18 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,136 | €44,729 | -€6,407 | -12.5% |
| Other operating charges | 640/8 | €6,773 | €6,198 | -€574 | -8.5% |
| Gross operating margin | 9900 | €107,908 | -€68,212 | -€176,120 | |
| Operating profit (loss) | 9901 | €47,245 | -€121,911 | -€169,156 | |
| Financial income | 75/76B | €5,408 | €4,223 | -€1,186 | -21.9% |
| Recurring financial income | 75 | €5,408 | €4,223 | -€1,186 | -21.9% |
| Financial charges | 65/66B | €3,812 | €2,970 | -€843 | -22.1% |
| Recurring financial charges | 65 | €3,812 | €2,970 | -€843 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €48,841 | -€120,658 | -€169,499 | |
| Transfer from deferred taxes | 780 | €2,579 | €2,579 | = | 0.0% |
| Income taxes | 67/77 | €16,381 | €60 | -€16,321 | -99.6% |
| Profit (loss) for the period | 9904 | €35,039 | -€118,140 | -€153,178 | |
| Transfer from tax-exempt reserves | 789 | €5,008 | €5,008 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,046 | -€113,132 | -€153,178 |
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 10 October 2026 via checked.be.