Dr. Baransu: 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.
Dr. Baransu
Largest movements
- Cash -€47,246
down €47,246 (-49.6%), from €95,305 to €48,059
mainly Contributions, distributions and other (-€218,500) and Current portion of long-term debt (-€36,784)
- Intangible fixed assets -€27,500
down €27,500 (-27.3%), from €100,833 to €73,333
- Receivables within one year +€20,631
up €20,631, from €0 to €20,631
of which Other amounts receivable: +€18,874
- Deferred charges and accrued income -€20,156
down €20,156 (-22.3%), from €90,554 to €70,398
- Reserves -€138,948
down €138,948 (-53.1%), from €261,885 to €122,937
of which Distributable reserves: -€138,948
- Other debts +€112,333
up €112,333 (+7,218%), from €1,556 to €113,890
- Current portion of long-term debt -€36,784
down €36,784 (-72.0%), from €51,069 to €14,286
- Debts after one year -€14,286
down €14,286 (-24.5%), from €58,333 to €44,047
- Gross operating margin -€56,211
down €56,211 (-28.8%), from €195,440 to €139,229
- Taxes -€15,086
down €15,086 (-41.7%), from €36,212 to €21,126
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 | €403,248 | €328,928 | -€74,320 | -18.4% |
| Fixed assets | 21/28 | €217,389 | €189,840 | -€27,549 | -12.7% |
| Intangible fixed assets | 21 | €100,833 | €73,333 | -€27,500 | -27.3% |
| Tangible fixed assets | 22/27 | €114,756 | €114,707 | -€49 | 0.0% |
| Plant, machinery and equipment | 23 | €1,954 | €1,298 | -€656 | -33.6% |
| Furniture and vehicles | 24 | €818 | €1,575 | +€756 | +92.5% |
| Other tangible fixed assets | 26 | €111,984 | €111,834 | -€149 | -0.1% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €185,859 | €139,089 | -€46,770 | -25.2% |
| Amounts receivable within one year | 40/41 | €0 | €20,631 | +€20,631 | |
| Trade receivables | 40 | - | €1,758 | +€1,758 | |
| Other amounts receivable | 41 | €0 | €18,874 | +€18,874 | |
| Cash at bank and in hand | 54/58 | €95,305 | €48,059 | -€47,246 | -49.6% |
| Deferred charges and accrued income | 490/1 | €90,554 | €70,398 | -€20,156 | -22.3% |
| Total equity and liabilities | 10/49 | €403,248 | €328,928 | -€74,320 | -18.4% |
| Equity | 10/15 | €280,485 | €141,537 | -€138,948 | -49.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €261,885 | €122,937 | -€138,948 | -53.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €261,885 | €122,937 | -€138,948 | -53.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €122,763 | €187,392 | +€64,628 | +52.6% |
| Amounts payable after more than one year | 17 | €58,333 | €44,047 | -€14,286 | -24.5% |
| Financial debts | 170/4 | €58,333 | €44,047 | -€14,286 | -24.5% |
| Amounts payable within one year | 42/48 | €64,430 | €143,344 | +€78,914 | +122% |
| Current portion of amounts payable after more than one year | 42 | €51,069 | €14,286 | -€36,784 | -72.0% |
| Trade debts | 44 | €3,092 | €3,244 | +€151 | +4.9% |
| Suppliers | 440/4 | €3,092 | €3,244 | +€151 | +4.9% |
| Taxes, remuneration and social security | 45 | €8,712 | €11,925 | +€3,213 | +36.9% |
| Taxes | 450/3 | €8,712 | €11,925 | +€3,213 | +36.9% |
| Other amounts payable | 47/48 | €1,556 | €113,890 | +€112,333 | +7,218% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,542 | €35,527 | +€985 | +2.9% |
| Other operating charges | 640/8 | €1,537 | €1,194 | -€343 | -22.3% |
| Gross operating margin | 9900 | €195,440 | €139,229 | -€56,211 | -28.8% |
| Operating profit (loss) | 9901 | €159,360 | €102,507 | -€56,853 | -35.7% |
| Financial income | 75/76B | €0 | €1 | +€1 | +1,167% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1,167% |
| Financial charges | 65/66B | €2,262 | €1,830 | -€432 | -19.1% |
| Recurring financial charges | 65 | €2,262 | €1,830 | -€432 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €157,098 | €100,678 | -€56,420 | -35.9% |
| Income taxes | 67/77 | €36,212 | €21,126 | -€15,086 | -41.7% |
| Profit (loss) for the period | 9904 | €120,887 | €79,552 | -€41,334 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €120,887 | €79,552 | -€41,334 | -34.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.