All For Research: 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.
All For Research
Largest movements
- Cash +€74,168
up €74,168 (+802%), from €9,252 to €83,421
- Receivables within one year +€65,313
up €65,313 (+2,060%), from €3,171 to €68,484
of which Trade receivables: +€64,808
- Debts within one year +€281,763
up €281,763 (+350%), from €80,449 to €362,213
- Profit (loss) carried forward -€143,484
down €143,484 (-215%), from -€66,824 to -€210,308
- Gross operating margin +€10,342
up €10,342, from -€2,745 to €7,597
- Depreciation -€1,202
no longer reported in 2025 (was €1,202)
- Financial charges +€1,151
new in 2025: €1,151
From the 2020 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2020 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,625 | €151,904 | +€138,279 | +1,015% |
| Fixed assets | 21/28 | €1,202 | - | -€1,202 | |
| Tangible fixed assets | 22/27 | €1,202 | - | -€1,202 | |
| Current assets | 29/58 | €12,423 | €151,904 | +€139,481 | +1,123% |
| Amounts receivable within one year | 40/41 | €3,171 | €68,484 | +€65,313 | +2,060% |
| Trade receivables | 40 | - | €64,808 | +€64,808 | |
| Other amounts receivable | 41 | - | €3,675 | +€3,675 | |
| Cash at bank and in hand | 54/58 | €9,252 | €83,421 | +€74,168 | +802% |
| Total equity and liabilities | 10/49 | €13,625 | €151,904 | +€138,279 | +1,015% |
| Equity | 10/15 | -€66,824 | -€210,308 | -€143,484 | -215% |
| Profit (loss) carried forward | 14 | -€66,824 | -€210,308 | -€143,484 | -215% |
| Amounts payable | 17/49 | €80,449 | €362,213 | +€281,763 | +350% |
| Amounts payable within one year | 42/48 | €80,449 | €362,213 | +€281,763 | +350% |
| Trade debts | 44 | €2,295 | €34,555 | +€32,260 | +1,406% |
| Suppliers | 440/4 | - | €34,555 | +€34,555 | |
| Advances received on contracts in progress | 46 | - | €74,650 | +€74,650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,202 | - | -€1,202 | |
| Gross operating margin | 9900 | -€2,745 | €7,597 | +€10,342 | |
| Operating profit (loss) | 9901 | -€58,685 | €7,597 | +€66,282 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | €0 | €3 | +€3 | +2,500% |
| Financial charges | 65/66B | - | €1,151 | +€1,151 | |
| Recurring financial charges | 65 | €386 | €1,151 | +€765 | +198% |
| Profit (loss) for the period before taxes | 9903 | -€59,070 | €6,448 | +€65,519 | |
| Profit (loss) for the period | 9904 | -€59,070 | €6,448 | +€65,519 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,070 | €6,448 | +€65,519 |
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.