Dr. Katya Borman: 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. Katya Borman
Largest movements
- Cash +€52,880
up €52,880 (+501%), from €10,561 to €63,441
mainly Net result for the year (+€49,421) and Tax, wage and social debts (+€11,217)
- Deferred charges and accrued income +€5,446
up €5,446 (+268%), from €2,033 to €7,479
- Reserves +€48,588
up €48,588 (+968%), from €5,018 to €53,607
- Tax, wage and social debts +€11,217
up €11,217 (+655%), from €1,713 to €12,930
- Trade debts -€1,712
down €1,712 (-75.1%), from €2,279 to €567
- Accrued charges and deferred income +€750
new in 2025: €750
- Gross operating margin +€55,384
up €55,384 (+752%), from €7,361 to €62,745
- Taxes +€11,217
up €11,217 (+767%), from €1,463 to €12,680
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 | €12,593 | €71,546 | +€58,953 | +468% |
| Fixed assets | 21/28 | - | €626 | +€626 | |
| Tangible fixed assets | 22/27 | - | €626 | +€626 | |
| Plant, machinery and equipment | 23 | - | €626 | +€626 | |
| Current assets | 29/58 | €12,593 | €70,920 | +€58,327 | +463% |
| Cash at bank and in hand | 54/58 | €10,561 | €63,441 | +€52,880 | +501% |
| Deferred charges and accrued income | 490/1 | €2,033 | €7,479 | +€5,446 | +268% |
| Total equity and liabilities | 10/49 | €12,593 | €71,546 | +€58,953 | +468% |
| Equity | 10/15 | €8,018 | €56,607 | +€48,588 | +606% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,018 | €53,607 | +€48,588 | +968% |
| Distributable reserves | 133 | €5,018 | €53,607 | +€48,588 | +968% |
| Amounts payable | 17/49 | €4,575 | €14,940 | +€10,365 | +227% |
| Amounts payable within one year | 42/48 | €4,575 | €14,190 | +€9,615 | +210% |
| Trade debts | 44 | €2,279 | €567 | -€1,712 | -75.1% |
| Suppliers | 440/4 | €2,279 | €567 | -€1,712 | -75.1% |
| Taxes, remuneration and social security | 45 | €1,713 | €12,930 | +€11,217 | +655% |
| Taxes | 450/3 | €1,713 | €12,930 | +€11,217 | +655% |
| Other amounts payable | 47/48 | €583 | €693 | +€109 | +18.8% |
| Accrued charges and deferred income | 492/3 | - | €750 | +€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €308 | +€308 | |
| Other operating charges | 640/8 | - | €169 | +€169 | |
| Gross operating margin | 9900 | €7,361 | €62,745 | +€55,384 | +752% |
| Operating profit (loss) | 9901 | €7,361 | €62,267 | +€54,906 | +746% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €47 | €166 | +€119 | +256% |
| Recurring financial charges | 65 | €47 | €166 | +€119 | +256% |
| Profit (loss) for the period before taxes | 9903 | €7,314 | €62,102 | +€54,787 | +749% |
| Income taxes | 67/77 | €1,463 | €12,680 | +€11,217 | +767% |
| Profit (loss) for the period | 9904 | €5,851 | €49,421 | +€43,570 | +745% |
| Profit (loss) for the period to be appropriated | 9905 | €5,851 | €49,421 | +€43,570 | +745% |
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 23 October 2026 via checked.be.