Dr. Jasna Möller: 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. Jasna Möller
Largest movements
- Cash +€43,577
up €43,577 (+54.8%), from €79,508 to €123,085
mainly Net result for the year (+€52,763) and Depreciation (+€15,328)
- Tangible fixed assets -€4,853
down €4,853 (-2.2%), from €216,864 to €212,011
of which Land and buildings: -€6,774
- Reserves +€52,763
up €52,763 (+77.7%), from €67,872 to €120,635
- Debts after one year -€15,016
down €15,016 (-10.5%), from €143,241 to €128,225
- Accrued charges and deferred income +€14,118
up €14,118 (+264%), from €5,350 to €19,468
- Other debts -€10,861
down €10,861 (-17.6%), from €61,650 to €50,789
- Tax, wage and social debts -€10,205
down €10,205 (-99.2%), from €10,283 to €78
- Gross operating margin -€15,443
down €15,443 (-11.7%), from €131,998 to €116,555
- Taxes -€3,205
down €3,205 (-18.5%), from €17,283 to €14,078
- Depreciation +€1,617
up €1,617 (+11.8%), from €13,711 to €15,328
- Staff costs +€1,445
up €1,445 (+5.3%), from €27,475 to €28,920
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 | €322,781 | €355,051 | +€32,270 | +10.0% |
| Fixed assets | 21/28 | €229,434 | €221,519 | -€7,916 | -3.5% |
| Intangible fixed assets | 21 | €12,250 | €9,188 | -€3,063 | -25.0% |
| Tangible fixed assets | 22/27 | €216,864 | €212,011 | -€4,853 | -2.2% |
| Land and buildings | 22 | €200,255 | €193,481 | -€6,774 | -3.4% |
| Plant, machinery and equipment | 23 | €11,045 | €8,547 | -€2,498 | -22.6% |
| Furniture and vehicles | 24 | €5,564 | €9,983 | +€4,419 | +79.4% |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €93,347 | €133,532 | +€40,185 | +43.0% |
| Amounts receivable within one year | 40/41 | €9,320 | €8,787 | -€533 | -5.7% |
| Trade receivables | 40 | €486 | €0 | -€486 | -100% |
| Other amounts receivable | 41 | €8,834 | €8,787 | -€47 | -0.5% |
| Cash at bank and in hand | 54/58 | €79,508 | €123,085 | +€43,577 | +54.8% |
| Deferred charges and accrued income | 490/1 | €4,518 | €1,660 | -€2,858 | -63.3% |
| Total equity and liabilities | 10/49 | €322,781 | €355,051 | +€32,270 | +10.0% |
| Equity | 10/15 | €86,422 | €139,185 | +€52,763 | +61.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €67,872 | €120,635 | +€52,763 | +77.7% |
| Distributable reserves | 133 | €67,872 | €120,635 | +€52,763 | +77.7% |
| Amounts payable | 17/49 | €236,360 | €215,866 | -€20,493 | -8.7% |
| Amounts payable after more than one year | 17 | €143,241 | €128,225 | -€15,016 | -10.5% |
| Financial debts | 170/4 | €143,241 | €128,225 | -€15,016 | -10.5% |
| Amounts payable within one year | 42/48 | €87,769 | €68,173 | -€19,595 | -22.3% |
| Current portion of amounts payable after more than one year | 42 | €14,691 | €15,016 | +€325 | +2.2% |
| Trade debts | 44 | €1,144 | €2,289 | +€1,145 | +100% |
| Suppliers | 440/4 | €1,144 | €2,289 | +€1,145 | +100% |
| Taxes, remuneration and social security | 45 | €10,283 | €78 | -€10,205 | -99.2% |
| Taxes | 450/3 | €10,283 | €78 | -€10,205 | -99.2% |
| Other amounts payable | 47/48 | €61,650 | €50,789 | -€10,861 | -17.6% |
| Accrued charges and deferred income | 492/3 | €5,350 | €19,468 | +€14,118 | +264% |
| Remuneration, social security and pensions | 62 | €27,475 | €28,920 | +€1,445 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,711 | €15,328 | +€1,617 | +11.8% |
| Other operating charges | 640/8 | €1,501 | €843 | -€658 | -43.8% |
| Gross operating margin | 9900 | €131,998 | €116,555 | -€15,443 | -11.7% |
| Operating profit (loss) | 9901 | €89,311 | €71,463 | -€17,848 | -20.0% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €4,157 | €4,622 | +€465 | +11.2% |
| Recurring financial charges | 65 | €4,157 | €4,622 | +€465 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €85,155 | €66,841 | -€18,313 | -21.5% |
| Income taxes | 67/77 | €17,283 | €14,078 | -€3,205 | -18.5% |
| Profit (loss) for the period | 9904 | €67,872 | €52,763 | -€15,109 | -22.3% |
| Profit (loss) for the period to be appropriated | 9905 | €67,872 | €52,763 | -€15,109 | -22.3% |
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 27 October 2026 via checked.be.