Derivatives Academy: 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.
Derivatives Academy
Largest movements
- Tangible fixed assets +€12,785
new in 2025: €12,785
- Cash +€5,134
up €5,134 (+40.5%), from €12,677 to €17,812
mainly Depreciation (+€13,191) and Net result for the year (+€9,959)
- Receivables after one year +€5,015
up €5,015 (+418%), from €1,201 to €6,216
of which Trade receivables: +€5,015
- Intangible fixed assets -€732
down €732 (-3.4%), from €21,483 to €20,750
- Advances received +€7,500
new in 2025: €7,500
- Other debts +€4,589
up €4,589 (+16.2%), from €28,366 to €32,955
- Profit (loss) carried forward +€3,959
up €3,959, from -€201 to €3,759
- Tax, wage and social debts +€3,922
up €3,922 (+183%), from €2,138 to €6,060
- Accrued charges and deferred income +€1,244
up €1,244 (+175%), from €709 to €1,953
- Gross operating margin +€24,035
up €24,035 (+357%), from €6,730 to €30,765
- Depreciation +€7,552
up €7,552 (+134%), from €5,639 to €13,191
- Taxes +€4,921
new in 2025: €4,921
- Financial charges +€782
up €782 (+96.2%), from €813 to €1,595
- Other operating charges +€614
up €614 (+127%), from €484 to €1,098
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 | €36,434 | €58,368 | +€21,934 | +60.2% |
| Formation expenses | 20 | €1,074 | €805 | -€268 | -25.0% |
| Fixed assets | 21/28 | €21,483 | €33,535 | +€12,053 | +56.1% |
| Intangible fixed assets | 21 | €21,483 | €20,750 | -€732 | -3.4% |
| Tangible fixed assets | 22/27 | - | €12,785 | +€12,785 | |
| Furniture and vehicles | 24 | - | €12,785 | +€12,785 | |
| Current assets | 29/58 | €13,878 | €24,028 | +€10,150 | +73.1% |
| Amounts receivable after more than one year | 29 | €1,201 | €6,216 | +€5,015 | +418% |
| Trade receivables | 290 | €844 | €5,859 | +€5,015 | +594% |
| Other amounts receivable | 291 | €357 | €357 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,677 | €17,812 | +€5,134 | +40.5% |
| Total equity and liabilities | 10/49 | €36,434 | €58,368 | +€21,934 | +60.2% |
| Equity | 10/15 | €4,799 | €8,759 | +€3,959 | +82.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | €5,000 | = | 0.0% |
| Issued capital | 100 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€201 | €3,759 | +€3,959 | |
| Amounts payable | 17/49 | €31,635 | €49,610 | +€17,975 | +56.8% |
| Amounts payable within one year | 42/48 | €30,926 | €47,657 | +€16,731 | +54.1% |
| Trade debts | 44 | €422 | €1,143 | +€720 | +171% |
| Suppliers | 440/4 | €422 | €1,143 | +€720 | +171% |
| Advances received on contracts in progress | 46 | - | €7,500 | +€7,500 | |
| Taxes, remuneration and social security | 45 | €2,138 | €6,060 | +€3,922 | +183% |
| Taxes | 450/3 | €2,138 | €6,060 | +€3,922 | +183% |
| Other amounts payable | 47/48 | €28,366 | €32,955 | +€4,589 | +16.2% |
| Accrued charges and deferred income | 492/3 | €709 | €1,953 | +€1,244 | +175% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,639 | €13,191 | +€7,552 | +134% |
| Other operating charges | 640/8 | €484 | €1,098 | +€614 | +127% |
| Gross operating margin | 9900 | €6,730 | €30,765 | +€24,035 | +357% |
| Operating profit (loss) | 9901 | €607 | €16,476 | +€15,869 | +2,615% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €813 | €1,595 | +€782 | +96.2% |
| Recurring financial charges | 65 | €813 | €1,595 | +€782 | +96.2% |
| Profit (loss) for the period before taxes | 9903 | -€201 | €14,880 | +€15,081 | |
| Income taxes | 67/77 | - | €4,921 | +€4,921 | |
| Profit (loss) for the period | 9904 | -€201 | €9,959 | +€10,160 | |
| Profit (loss) for the period to be appropriated | 9905 | -€201 | €9,959 | +€10,160 |
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 14 October 2026 via checked.be.