DEUS EX MACHINA: 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.
DEUS EX MACHINA
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€70,751
down €70,751 (-76.3%), from €92,780 to €22,029
mainly Current investments (-€100,000) and Tax, wage and social debts (-€2,523)
- Tangible fixed assets -€4,683
down €4,683 (-1.4%), from €334,396 to €329,713
of which Land and buildings: -€4,772
- Reserves +€28,421
up €28,421 (+8.2%), from €347,121 to €375,542
of which Distributable reserves: +€28,924
- Gross operating margin -€15,697
down €15,697 (-24.2%), from €64,744 to €49,047
- Taxes -€3,766
down €3,766 (-22.6%), from €16,634 to €12,868
- Depreciation -€1,354
down €1,354 (-19.7%), from €6,876 to €5,522
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 | €443,441 | €468,081 | +€24,640 | +5.6% |
| Fixed assets | 21/28 | €334,396 | €329,713 | -€4,683 | -1.4% |
| Tangible fixed assets | 22/27 | €334,396 | €329,713 | -€4,683 | -1.4% |
| Land and buildings | 22 | €142,463 | €137,690 | -€4,772 | -3.3% |
| Furniture and vehicles | 24 | €242 | €902 | +€659 | +272% |
| Other tangible fixed assets | 26 | €191,692 | €191,122 | -€570 | -0.3% |
| Current assets | 29/58 | €109,044 | €138,368 | +€29,323 | +26.9% |
| Amounts receivable within one year | 40/41 | €14,823 | €14,916 | +€92 | +0.6% |
| Trade receivables | 40 | €7,346 | €7,249 | -€97 | -1.3% |
| Other amounts receivable | 41 | €7,477 | €7,666 | +€189 | +2.5% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €92,780 | €22,029 | -€70,751 | -76.3% |
| Deferred charges and accrued income | 490/1 | €1,441 | €1,423 | -€17 | -1.2% |
| Total equity and liabilities | 10/49 | €443,441 | €468,081 | +€24,640 | +5.6% |
| Equity | 10/15 | €409,653 | €438,074 | +€28,421 | +6.9% |
| Contributions | 10/11 | €62,532 | €62,532 | = | 0.0% |
| Reserves | 13 | €347,121 | €375,542 | +€28,421 | +8.2% |
| Tax-exempt reserves | 132 | €11,839 | €11,337 | -€502 | -4.2% |
| Distributable reserves | 133 | €335,282 | €364,205 | +€28,924 | +8.6% |
| Provisions and deferred taxes | 16 | €3,946 | €3,779 | -€167 | -4.2% |
| Deferred taxes | 168 | €3,946 | €3,779 | -€167 | -4.2% |
| Amounts payable | 17/49 | €29,841 | €26,228 | -€3,614 | -12.1% |
| Amounts payable within one year | 42/48 | €27,286 | €23,671 | -€3,615 | -13.2% |
| Trade debts | 44 | €2,249 | €2,529 | +€280 | +12.4% |
| Suppliers | 440/4 | €2,249 | €2,529 | +€280 | +12.4% |
| Taxes, remuneration and social security | 45 | €22,740 | €20,216 | -€2,523 | -11.1% |
| Taxes | 450/3 | €22,740 | €20,216 | -€2,523 | -11.1% |
| Other amounts payable | 47/48 | €2,297 | €926 | -€1,371 | -59.7% |
| Accrued charges and deferred income | 492/3 | €2,556 | €2,557 | +€1 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,876 | €5,522 | -€1,354 | -19.7% |
| Other operating charges | 640/8 | €1,883 | €1,906 | +€22 | +1.2% |
| Gross operating margin | 9900 | €64,744 | €49,047 | -€15,697 | -24.2% |
| Operating profit (loss) | 9901 | €55,985 | €41,620 | -€14,366 | -25.7% |
| Financial income | 75/76B | €9 | €480 | +€471 | +5,183% |
| Recurring financial income | 75 | €9 | €480 | +€471 | +5,183% |
| Financial charges | 65/66B | €40 | €52 | +€12 | +31.3% |
| Recurring financial charges | 65 | €40 | €52 | +€12 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €55,955 | €42,048 | -€13,907 | -24.9% |
| Transfer from deferred taxes | 780 | €167 | €167 | = | 0.0% |
| Income taxes | 67/77 | €16,634 | €12,868 | -€3,766 | -22.6% |
| Profit (loss) for the period | 9904 | €39,488 | €29,347 | -€10,141 | -25.7% |
| Transfer from tax-exempt reserves | 789 | €502 | €502 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,990 | €29,849 | -€10,141 | -25.4% |
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 1 November 2026 via checked.be.