Candle 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.
Candle Research
Largest movements
- Cash +€58,228
new in 2025: €58,228
mainly Current investments (+€46,129) and Net result for the year (+€43,893)
- Current investments -€46,129
no longer reported in 2025 (was €46,129)
- Tangible fixed assets -€11,353
down €11,353 (-36.7%), from €30,925 to €19,572
of which Leasing and similar rights: -€9,989
- Receivables after one year +€4,700
up €4,700 (+470%), from €1,000 to €5,700
- Other debts +€15,154
up €15,154 (+50.5%), from €30,018 to €45,172
- Debts after one year -€10,040
down €10,040 (-44.6%), from €22,490 to €12,450
- Short-term financial debts -€3,071
down €3,071 (-92.1%), from €3,333 to €262
- Trade debts +€2,144
up €2,144 (+172%), from €1,248 to €3,392
- Gross operating margin +€12,946
up €12,946 (+21.2%), from €61,122 to €74,068
- Taxes +€886
up €886 (+7.5%), from €11,841 to €12,727
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 | €92,997 | €98,201 | +€5,204 | +5.6% |
| Fixed assets | 21/28 | €30,925 | €19,572 | -€11,353 | -36.7% |
| Tangible fixed assets | 22/27 | €30,925 | €19,572 | -€11,353 | -36.7% |
| Plant, machinery and equipment | 23 | €7,041 | €6,601 | -€440 | -6.2% |
| Furniture and vehicles | 24 | €3,742 | €2,983 | -€759 | -20.3% |
| Leasing and similar rights | 25 | €19,977 | €9,988 | -€9,989 | -50.0% |
| Other tangible fixed assets | 26 | €165 | €0 | -€165 | -100% |
| Current assets | 29/58 | €62,072 | €78,629 | +€16,557 | +26.7% |
| Amounts receivable after more than one year | 29 | €1,000 | €5,700 | +€4,700 | +470% |
| Other amounts receivable | 291 | €1,000 | €5,700 | +€4,700 | +470% |
| Amounts receivable within one year | 40/41 | €14,943 | €14,701 | -€242 | -1.6% |
| Trade receivables | 40 | €14,943 | €14,701 | -€242 | -1.6% |
| Current investments | 50/53 | €46,129 | - | -€46,129 | |
| Cash at bank and in hand | 54/58 | - | €58,228 | +€58,228 | |
| Total equity and liabilities | 10/49 | €92,997 | €98,201 | +€5,204 | +5.6% |
| Equity | 10/15 | €18,550 | €18,550 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Amounts payable | 17/49 | €74,447 | €79,651 | +€5,204 | +7.0% |
| Amounts payable after more than one year | 17 | €22,490 | €12,450 | -€10,040 | -44.6% |
| Financial debts | 170/4 | €22,490 | €12,450 | -€10,040 | -44.6% |
| Amounts payable within one year | 42/48 | €51,957 | €67,201 | +€15,244 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €9,715 | €10,041 | +€326 | +3.4% |
| Financial debts | 43 | €3,333 | €262 | -€3,071 | -92.1% |
| Credit institutions | 430/8 | €3,333 | €262 | -€3,071 | -92.1% |
| Trade debts | 44 | €1,248 | €3,392 | +€2,144 | +172% |
| Suppliers | 440/4 | €1,248 | €3,392 | +€2,144 | +172% |
| Taxes, remuneration and social security | 45 | €7,643 | €8,334 | +€691 | +9.0% |
| Taxes | 450/3 | €7,643 | €8,334 | +€691 | +9.0% |
| Other amounts payable | 47/48 | €30,018 | €45,172 | +€15,154 | +50.5% |
| Remuneration, social security and pensions | 62 | €2,170 | €1,680 | -€490 | -22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,585 | €13,201 | +€616 | +4.9% |
| Other operating charges | 640/8 | €2,203 | €1,688 | -€515 | -23.4% |
| Gross operating margin | 9900 | €61,122 | €74,068 | +€12,946 | +21.2% |
| Operating profit (loss) | 9901 | €44,164 | €57,499 | +€13,335 | +30.2% |
| Financial income | 75/76B | €133 | €359 | +€226 | +170% |
| Recurring financial income | 75 | €133 | €359 | +€226 | +170% |
| Financial charges | 65/66B | €1,149 | €1,238 | +€89 | +7.7% |
| Recurring financial charges | 65 | €1,149 | €1,238 | +€89 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €43,148 | €56,620 | +€13,472 | +31.2% |
| Income taxes | 67/77 | €11,841 | €12,727 | +€886 | +7.5% |
| Profit (loss) for the period | 9904 | €31,307 | €43,893 | +€12,586 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,307 | €43,893 | +€12,586 | +40.2% |
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 23 October 2026 via checked.be.