Ayse Özkan: 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.
Ayse Özkan
Largest movements
- Cash -€18,660
down €18,660 (-21.6%), from €86,289 to €67,629
mainly Contributions, distributions and other (-€48,382) and Other debts (-€19,272)
- Tangible fixed assets -€12,570
down €12,570 (-43.1%), from €29,188 to €16,617
- Other debts -€19,272
down €19,272 (-26.3%), from €73,413 to €54,141
- Debts after one year -€10,766
down €10,766 (-74.8%), from €14,384 to €3,618
- Gross operating margin -€5,248
down €5,248 (-6.5%), from €80,730 to €75,481
- Taxes -€888
down €888 (-6.3%), from €14,140 to €13,252
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 | €116,166 | €85,691 | -€30,475 | -26.2% |
| Fixed assets | 21/28 | €29,188 | €16,617 | -€12,570 | -43.1% |
| Tangible fixed assets | 22/27 | €29,188 | €16,617 | -€12,570 | -43.1% |
| Furniture and vehicles | 24 | €29,188 | €16,617 | -€12,570 | -43.1% |
| Current assets | 29/58 | €86,979 | €69,074 | -€17,905 | -20.6% |
| Amounts receivable within one year | 40/41 | €0 | €748 | +€748 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €748 | +€748 | |
| Cash at bank and in hand | 54/58 | €86,289 | €67,629 | -€18,660 | -21.6% |
| Deferred charges and accrued income | 490/1 | €690 | €697 | +€7 | +1.1% |
| Total equity and liabilities | 10/49 | €116,166 | €85,691 | -€30,475 | -26.2% |
| Equity | 10/15 | €1,000 | €1,000 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €115,166 | €84,691 | -€30,475 | -26.5% |
| Amounts payable after more than one year | 17 | €14,384 | €3,618 | -€10,766 | -74.8% |
| Financial debts | 170/4 | €14,384 | €3,618 | -€10,766 | -74.8% |
| Amounts payable within one year | 42/48 | €100,782 | €81,073 | -€19,709 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €10,635 | €10,766 | +€131 | +1.2% |
| Trade debts | 44 | €277 | €262 | -€16 | -5.7% |
| Suppliers | 440/4 | €277 | €262 | -€16 | -5.7% |
| Taxes, remuneration and social security | 45 | €16,457 | €15,904 | -€552 | -3.4% |
| Taxes | 450/3 | €16,457 | €15,904 | -€552 | -3.4% |
| Other amounts payable | 47/48 | €73,413 | €54,141 | -€19,272 | -26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,153 | €12,570 | +€417 | +3.4% |
| Other operating charges | 640/8 | €672 | €795 | +€123 | +18.4% |
| Non-recurring operating charges | 66A | €778 | €0 | -€778 | -100% |
| Gross operating margin | 9900 | €80,730 | €75,481 | -€5,248 | -6.5% |
| Operating profit (loss) | 9901 | €67,126 | €62,116 | -€5,010 | -7.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €576 | €482 | -€93 | -16.2% |
| Recurring financial charges | 65 | €576 | €482 | -€93 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €66,550 | €61,634 | -€4,917 | -7.4% |
| Income taxes | 67/77 | €14,140 | €13,252 | -€888 | -6.3% |
| Profit (loss) for the period | 9904 | €52,410 | €48,382 | -€4,029 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,410 | €48,382 | -€4,029 | -7.7% |
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 30 October 2026 via checked.be.