DISCOVERY MANAGEMENT: 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.
DISCOVERY MANAGEMENT
Largest movements
- Tangible fixed assets +€13,958
up €13,958 (+502%), from €2,780 to €16,738
- Cash -€9,315
down €9,315 (-86.0%), from €10,828 to €1,513
mainly Investment in fixed assets (net) (-€18,488) and Receivables after one year (-€6,910)
- Receivables after one year +€6,910
new in 2025: €6,910
- Receivables within one year +€1,131
up €1,131 (+11.4%), from €9,921 to €11,052
of which Trade receivables: +€6,987
- Short-term financial debts +€6,563
new in 2025: €6,563
- Profit (loss) carried forward +€6,467
up €6,467 (+54.2%), from €11,929 to €18,396
- Tax, wage and social debts -€1,846
down €1,846 (-21.5%), from €8,583 to €6,737
- Debts after one year +€1,680
new in 2025: €1,680
- Depreciation +€3,999
up €3,999 (+753%), from €531 to €4,530
- Gross operating margin -€1,770
down €1,770 (-10.5%), from €16,877 to €15,107
- Taxes -€726
down €726 (-16.8%), from €4,333 to €3,607
- Financial charges +€420
up €420 (+1,217%), from €34 to €454
- Financial income +€207
new in 2025: €207
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 | €23,575 | €36,213 | +€12,638 | +53.6% |
| Fixed assets | 21/28 | €2,780 | €16,738 | +€13,958 | +502% |
| Tangible fixed assets | 22/27 | €2,780 | €16,738 | +€13,958 | +502% |
| Furniture and vehicles | 24 | €2,780 | €16,738 | +€13,958 | +502% |
| Current assets | 29/58 | €20,795 | €19,475 | -€1,320 | -6.3% |
| Amounts receivable after more than one year | 29 | - | €6,910 | +€6,910 | |
| Other amounts receivable | 291 | - | €6,910 | +€6,910 | |
| Amounts receivable within one year | 40/41 | €9,921 | €11,052 | +€1,131 | +11.4% |
| Trade receivables | 40 | €2,576 | €9,562 | +€6,987 | +271% |
| Other amounts receivable | 41 | €7,346 | €1,490 | -€5,856 | -79.7% |
| Cash at bank and in hand | 54/58 | €10,828 | €1,513 | -€9,315 | -86.0% |
| Deferred charges and accrued income | 490/1 | €46 | - | -€46 | |
| Total equity and liabilities | 10/49 | €23,575 | €36,213 | +€12,638 | +53.6% |
| Equity | 10/15 | €13,429 | €19,896 | +€6,467 | +48.2% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,929 | €18,396 | +€6,467 | +54.2% |
| Amounts payable | 17/49 | €10,146 | €16,316 | +€6,170 | +60.8% |
| Amounts payable after more than one year | 17 | - | €1,680 | +€1,680 | |
| Financial debts | 170/4 | - | €1,680 | +€1,680 | |
| Amounts payable within one year | 42/48 | €10,146 | €14,636 | +€4,490 | +44.3% |
| Financial debts | 43 | - | €6,563 | +€6,563 | |
| Credit institutions | 430/8 | - | €6,563 | +€6,563 | |
| Trade debts | 44 | €1,233 | €1,140 | -€93 | -7.5% |
| Suppliers | 440/4 | €1,233 | €1,140 | -€93 | -7.5% |
| Taxes, remuneration and social security | 45 | €8,583 | €6,737 | -€1,846 | -21.5% |
| Taxes | 450/3 | €8,583 | €6,737 | -€1,846 | -21.5% |
| Other amounts payable | 47/48 | €330 | €196 | -€134 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €531 | €4,530 | +€3,999 | +753% |
| Other operating charges | 640/8 | €50 | €257 | +€207 | +414% |
| Gross operating margin | 9900 | €16,877 | €15,107 | -€1,770 | -10.5% |
| Operating profit (loss) | 9901 | €16,296 | €10,321 | -€5,976 | -36.7% |
| Financial income | 75/76B | - | €207 | +€207 | |
| Recurring financial income | 75 | - | €207 | +€207 | |
| Financial charges | 65/66B | €34 | €454 | +€420 | +1,217% |
| Recurring financial charges | 65 | €34 | €454 | +€420 | +1,217% |
| Profit (loss) for the period before taxes | 9903 | €16,262 | €10,074 | -€6,188 | -38.1% |
| Income taxes | 67/77 | €4,333 | €3,607 | -€726 | -16.8% |
| Profit (loss) for the period | 9904 | €11,929 | €6,467 | -€5,462 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,929 | €6,467 | -€5,462 | -45.8% |
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.