CATHERINE MINATCHY: 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.
CATHERINE MINATCHY
Largest movements
- Cash -€58,758
down €58,758 (-41.5%), from €141,431 to €82,673
mainly Net result for the year (-€50,626) and Receivables within one year (-€16,932)
- Receivables within one year +€16,932
up €16,932 (+5,721%), from €296 to €17,228
of which Other amounts receivable: +€10,642
- Profit (loss) carried forward -€50,626
down €50,626 (-38.6%), from €131,150 to €80,525
- Trade debts +€6,218
up €6,218 (+413%), from €1,507 to €7,725
- Other debts +€1,964
up €1,964 (+50.0%), from €3,926 to €5,890
- Gross operating margin -€74,042
down €74,042, from €24,476 to -€49,566
- Taxes -€4,762
no longer reported in 2025 (was €4,762)
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 | €142,345 | €99,901 | -€42,444 | -29.8% |
| Fixed assets | 21/28 | €618 | - | -€618 | |
| Tangible fixed assets | 22/27 | €618 | - | -€618 | |
| Furniture and vehicles | 24 | €618 | - | -€618 | |
| Current assets | 29/58 | €141,727 | €99,901 | -€41,826 | -29.5% |
| Amounts receivable within one year | 40/41 | €296 | €17,228 | +€16,932 | +5,721% |
| Trade receivables | 40 | - | €6,290 | +€6,290 | |
| Other amounts receivable | 41 | €296 | €10,938 | +€10,642 | +3,596% |
| Cash at bank and in hand | 54/58 | €141,431 | €82,673 | -€58,758 | -41.5% |
| Total equity and liabilities | 10/49 | €142,345 | €99,901 | -€42,444 | -29.8% |
| Equity | 10/15 | €132,150 | €81,525 | -€50,626 | -38.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,150 | €80,525 | -€50,626 | -38.6% |
| Amounts payable | 17/49 | €10,195 | €18,377 | +€8,182 | +80.3% |
| Amounts payable within one year | 42/48 | €10,195 | €18,377 | +€8,182 | +80.3% |
| Trade debts | 44 | €1,507 | €7,725 | +€6,218 | +413% |
| Suppliers | 440/4 | €1,507 | €7,725 | +€6,218 | +413% |
| Taxes, remuneration and social security | 45 | €4,762 | €4,762 | = | 0.0% |
| Taxes | 450/3 | €4,762 | €4,762 | = | 0.0% |
| Other amounts payable | 47/48 | €3,926 | €5,890 | +€1,964 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €616 | €618 | +€2 | +0.3% |
| Other operating charges | 640/8 | - | €397 | +€397 | |
| Gross operating margin | 9900 | €24,476 | -€49,566 | -€74,042 | |
| Operating profit (loss) | 9901 | €23,860 | -€50,581 | -€74,440 | |
| Financial charges | 65/66B | €83 | €45 | -€38 | -45.5% |
| Recurring financial charges | 65 | €83 | €45 | -€38 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €23,777 | -€50,626 | -€74,403 | |
| Income taxes | 67/77 | €4,762 | - | -€4,762 | |
| Profit (loss) for the period | 9904 | €19,015 | -€50,626 | -€69,641 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,015 | -€50,626 | -€69,641 |
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 20 October 2026 via checked.be.