Dr. Baris Koc: 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. Baris Koc
Largest movements
- Cash +€33,821
new in 2025: €33,821
mainly Current investments (+€22,073) and Net result for the year (+€14,721)
- Current investments -€22,073
no longer reported in 2025 (was €22,073)
- Receivables within one year +€486
new in 2025: €486
- Deferred charges and accrued income +€478
up €478 (+319%), from €150 to €628
- Reserves +€14,721
up €14,721 (+126%), from €11,654 to €26,375
- Other debts -€3,877
no longer reported in 2025 (was €3,877)
- Trade debts +€3,340
up €3,340 (+627%), from €533 to €3,872
- Tax, wage and social debts -€1,472
down €1,472 (-24.3%), from €6,059 to €4,587
of which Remuneration and social security: -€2,833
- Gross operating margin +€4,729
up €4,729 (+31.6%), from €14,980 to €19,708
- Taxes +€1,361
up €1,361 (+42.2%), from €3,226 to €4,587
- Financial charges +€301
up €301 (+805%), from €37 to €339
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 | €22,223 | €34,935 | +€12,712 | +57.2% |
| Current assets | 29/58 | €22,223 | €34,935 | +€12,712 | +57.2% |
| Amounts receivable within one year | 40/41 | - | €486 | +€486 | |
| Other amounts receivable | 41 | - | €486 | +€486 | |
| Current investments | 50/53 | €22,073 | - | -€22,073 | |
| Cash at bank and in hand | 54/58 | - | €33,821 | +€33,821 | |
| Deferred charges and accrued income | 490/1 | €150 | €628 | +€478 | +319% |
| Total equity and liabilities | 10/49 | €22,223 | €34,935 | +€12,712 | +57.2% |
| Equity | 10/15 | €11,754 | €26,475 | +€14,721 | +125% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €11,654 | €26,375 | +€14,721 | +126% |
| Distributable reserves | 133 | €11,654 | €26,375 | +€14,721 | +126% |
| Amounts payable | 17/49 | €10,469 | €8,459 | -€2,009 | -19.2% |
| Amounts payable within one year | 42/48 | €10,469 | €8,459 | -€2,009 | -19.2% |
| Trade debts | 44 | €533 | €3,872 | +€3,340 | +627% |
| Suppliers | 440/4 | €533 | €3,872 | +€3,340 | +627% |
| Taxes, remuneration and social security | 45 | €6,059 | €4,587 | -€1,472 | -24.3% |
| Taxes | 450/3 | €3,226 | €4,587 | +€1,361 | +42.2% |
| Remuneration and social security | 454/9 | €2,833 | - | -€2,833 | |
| Other amounts payable | 47/48 | €3,877 | - | -€3,877 | |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €14,980 | €19,708 | +€4,729 | +31.6% |
| Operating profit (loss) | 9901 | €14,918 | €19,646 | +€4,729 | +31.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €37 | €339 | +€301 | +805% |
| Recurring financial charges | 65 | €37 | €339 | +€301 | +805% |
| Profit (loss) for the period before taxes | 9903 | €14,880 | €19,308 | +€4,428 | +29.8% |
| Income taxes | 67/77 | €3,226 | €4,587 | +€1,361 | +42.2% |
| Profit (loss) for the period | 9904 | €11,654 | €14,721 | +€3,068 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,654 | €14,721 | +€3,068 | +26.3% |
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 24 October 2026 via checked.be.