Dr. Claudia Stout: 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. Claudia Stout
Largest movements
- Cash +€53,656
up €53,656 (+620%), from €8,651 to €62,307
mainly Net result for the year (+€51,242) and Tax, wage and social debts (+€12,208)
- Deferred charges and accrued income +€7,032
up €7,032 (+284%), from €2,480 to €9,512
- Tangible fixed assets +€2,979
new in 2025: €2,979
of which Plant, machinery and equipment: +€1,540
- Reserves +€50,409
up €50,409 (+1,261%), from €3,997 to €54,406
- Tax, wage and social debts +€12,208
up €12,208 (+755%), from €1,617 to €13,825
- Other debts +€755
up €755 (+79.0%), from €955 to €1,710
- Gross operating margin +€58,806
up €58,806 (+905%), from €6,501 to €65,307
- Taxes +€12,208
up €12,208 (+893%), from €1,367 to €13,575
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 | €11,269 | €74,798 | +€63,530 | +564% |
| Fixed assets | 21/28 | - | €2,979 | +€2,979 | |
| Tangible fixed assets | 22/27 | - | €2,979 | +€2,979 | |
| Plant, machinery and equipment | 23 | - | €1,540 | +€1,540 | |
| Furniture and vehicles | 24 | - | €1,439 | +€1,439 | |
| Current assets | 29/58 | €11,269 | €71,819 | +€60,551 | +537% |
| Amounts receivable within one year | 40/41 | €138 | - | -€138 | |
| Trade receivables | 40 | €138 | - | -€138 | |
| Cash at bank and in hand | 54/58 | €8,651 | €62,307 | +€53,656 | +620% |
| Deferred charges and accrued income | 490/1 | €2,480 | €9,512 | +€7,032 | +284% |
| Total equity and liabilities | 10/49 | €11,269 | €74,798 | +€63,530 | +564% |
| Equity | 10/15 | €6,497 | €56,906 | +€50,409 | +776% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €3,997 | €54,406 | +€50,409 | +1,261% |
| Distributable reserves | 133 | €3,997 | €54,406 | +€50,409 | +1,261% |
| Amounts payable | 17/49 | €4,772 | €17,892 | +€13,120 | +275% |
| Amounts payable within one year | 42/48 | €2,572 | €15,748 | +€13,176 | +512% |
| Trade debts | 44 | - | €213 | +€213 | |
| Suppliers | 440/4 | - | €213 | +€213 | |
| Taxes, remuneration and social security | 45 | €1,617 | €13,825 | +€12,208 | +755% |
| Taxes | 450/3 | €1,617 | €13,825 | +€12,208 | +755% |
| Other amounts payable | 47/48 | €955 | €1,710 | +€755 | +79.0% |
| Accrued charges and deferred income | 492/3 | €2,200 | €2,145 | -€55 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €242 | +€242 | |
| Other operating charges | 640/8 | €198 | €202 | +€4 | +2.0% |
| Gross operating margin | 9900 | €6,501 | €65,307 | +€58,806 | +905% |
| Operating profit (loss) | 9901 | €6,304 | €64,863 | +€58,560 | +929% |
| Financial charges | 65/66B | €107 | €45 | -€61 | -57.5% |
| Recurring financial charges | 65 | €107 | €45 | -€61 | -57.5% |
| Profit (loss) for the period before taxes | 9903 | €6,197 | €64,818 | +€58,621 | +946% |
| Income taxes | 67/77 | €1,367 | €13,575 | +€12,208 | +893% |
| Profit (loss) for the period | 9904 | €4,830 | €51,242 | +€46,413 | +961% |
| Profit (loss) for the period to be appropriated | 9905 | €4,830 | €51,242 | +€46,413 | +961% |
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 19 October 2026 via checked.be.