TOM DEGREEF: 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.
TOM DEGREEF
Largest movements
- Cash +€19,003
up €19,003 (+53.2%), from €35,739 to €54,742
mainly Net result for the year (+€65,570) and Depreciation (+€24,152)
- Current investments +€15,608
up €15,608 (+205%), from €7,599 to €23,207
- Intangible fixed assets -€7,500
down €7,500 (-40.7%), from €18,407 to €10,907
- Receivables within one year +€6,449
up €6,449 (+15.3%), from €42,243 to €48,692
of which Other amounts receivable: +€6,252
- Tangible fixed assets -€5,274
down €5,274 (-3.0%), from €174,239 to €168,965
of which Leasing and similar rights: -€10,753
- Reserves +€59,570
up €59,570 (+62.5%), from €95,331 to €154,901
of which Distributable reserves: +€59,570
- Debts after one year -€16,051
down €16,051 (-12.7%), from €126,137 to €110,086
- Current portion of long-term debt -€6,912
down €6,912 (-23.8%), from €29,077 to €22,164
- Tax, wage and social debts -€4,300
down €4,300 (-21.1%), from €20,369 to €16,069
- Trade debts -€3,634
down €3,634 (-66.9%), from €5,430 to €1,795
- Gross operating margin +€5,611
up €5,611 (+4.8%), from €117,221 to €122,832
- Taxes +€1,519
up €1,519 (+6.1%), from €24,866 to €26,385
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 | €330,414 | €359,062 | +€28,648 | +8.7% |
| Fixed assets | 21/28 | €192,646 | €179,872 | -€12,774 | -6.6% |
| Intangible fixed assets | 21 | €18,407 | €10,907 | -€7,500 | -40.7% |
| Tangible fixed assets | 22/27 | €174,239 | €168,965 | -€5,274 | -3.0% |
| Land and buildings | 22 | €17,506 | €15,157 | -€2,349 | -13.4% |
| Plant, machinery and equipment | 23 | €5,083 | €10,767 | +€5,684 | +112% |
| Furniture and vehicles | 24 | €1,107 | €3,251 | +€2,144 | +194% |
| Leasing and similar rights | 25 | €150,543 | €139,790 | -€10,753 | -7.1% |
| Current assets | 29/58 | €137,768 | €179,190 | +€41,422 | +30.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,243 | €48,692 | +€6,449 | +15.3% |
| Trade receivables | 40 | €23 | €220 | +€197 | +870% |
| Other amounts receivable | 41 | €42,221 | €48,473 | +€6,252 | +14.8% |
| Current investments | 50/53 | €7,599 | €23,207 | +€15,608 | +205% |
| Cash at bank and in hand | 54/58 | €35,739 | €54,742 | +€19,003 | +53.2% |
| Deferred charges and accrued income | 490/1 | €2,187 | €2,549 | +€362 | +16.6% |
| Total equity and liabilities | 10/49 | €330,414 | €359,062 | +€28,648 | +8.7% |
| Equity | 10/15 | €149,185 | €208,754 | +€59,570 | +39.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €95,331 | €154,901 | +€59,570 | +62.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €93,471 | €153,041 | +€59,570 | +63.7% |
| Profit (loss) carried forward | 14 | €41,454 | €41,454 | = | 0.0% |
| Amounts payable | 17/49 | €181,230 | €150,308 | -€30,922 | -17.1% |
| Amounts payable after more than one year | 17 | €126,137 | €110,086 | -€16,051 | -12.7% |
| Financial debts | 170/4 | €126,137 | €110,086 | -€16,051 | -12.7% |
| Amounts payable within one year | 42/48 | €54,875 | €40,029 | -€14,846 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €29,077 | €22,164 | -€6,912 | -23.8% |
| Trade debts | 44 | €5,430 | €1,795 | -€3,634 | -66.9% |
| Suppliers | 440/4 | €5,430 | €1,795 | -€3,634 | -66.9% |
| Taxes, remuneration and social security | 45 | €20,369 | €16,069 | -€4,300 | -21.1% |
| Taxes | 450/3 | €20,369 | €16,069 | -€4,300 | -21.1% |
| Accrued charges and deferred income | 492/3 | €218 | €193 | -€25 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,981 | €24,152 | +€1,171 | +5.1% |
| Other operating charges | 640/8 | €3,225 | €2,905 | -€320 | -9.9% |
| Gross operating margin | 9900 | €117,221 | €122,832 | +€5,611 | +4.8% |
| Operating profit (loss) | 9901 | €91,015 | €95,776 | +€4,761 | +5.2% |
| Financial income | 75/76B | €1 | €154 | +€153 | +15,792% |
| Recurring financial income | 75 | €1 | €154 | +€153 | +15,792% |
| Financial charges | 65/66B | €4,353 | €3,975 | -€378 | -8.7% |
| Recurring financial charges | 65 | €4,353 | €3,975 | -€378 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €86,663 | €91,955 | +€5,291 | +6.1% |
| Income taxes | 67/77 | €24,866 | €26,385 | +€1,519 | +6.1% |
| Profit (loss) for the period | 9904 | €61,798 | €65,570 | +€3,772 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,798 | €65,570 | +€3,772 | +6.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.