Dr. Laura Cox: 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. Laura Cox
Largest movements
- Receivables within one year +€15,228
new in 2025: €15,228
- Deferred charges and accrued income -€6,921
down €6,921 (-29.6%), from €23,372 to €16,451
- Tangible fixed assets +€6,455
new in 2025: €6,455
- Cash +€5,668
up €5,668 (+13.1%), from €43,158 to €48,826
mainly Net result for the year (+€35,875) and Deferred charges and accrued income (+€6,921)
- Reserves +€35,875
up €35,875 (+96.6%), from €37,138 to €73,014
- Other debts -€7,920
down €7,920 (-100%), from €7,920 to €0
- Tax, wage and social debts -€4,951
down €4,951 (-34.9%), from €14,177 to €9,225
of which Remuneration and social security: -€3,388
- Accrued charges and deferred income -€1,883
down €1,883 (-100%), from €1,883 to €0
- Gross operating margin -€5,066
down €5,066 (-9.0%), from €56,050 to €50,985
- Taxes -€1,563
down €1,563 (-14.5%), from €10,788 to €9,225
- Financial charges +€1,131
up €1,131 (+41.4%), from €2,729 to €3,860
- Depreciation +€887
new in 2025: €887
- Other operating charges +€614
up €614 (+117%), from €523 to €1,137
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 | €66,530 | €86,960 | +€20,430 | +30.7% |
| Fixed assets | 21/28 | - | €6,455 | +€6,455 | |
| Tangible fixed assets | 22/27 | - | €6,455 | +€6,455 | |
| Furniture and vehicles | 24 | - | €6,455 | +€6,455 | |
| Current assets | 29/58 | €66,530 | €80,505 | +€13,975 | +21.0% |
| Amounts receivable within one year | 40/41 | - | €15,228 | +€15,228 | |
| Other amounts receivable | 41 | - | €15,228 | +€15,228 | |
| Cash at bank and in hand | 54/58 | €43,158 | €48,826 | +€5,668 | +13.1% |
| Deferred charges and accrued income | 490/1 | €23,372 | €16,451 | -€6,921 | -29.6% |
| Total equity and liabilities | 10/49 | €66,530 | €86,960 | +€20,430 | +30.7% |
| Equity | 10/15 | €41,138 | €77,014 | +€35,875 | +87.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €37,138 | €73,014 | +€35,875 | +96.6% |
| Distributable reserves | 133 | €37,138 | €73,014 | +€35,875 | +96.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €25,392 | €9,946 | -€15,446 | -60.8% |
| Amounts payable within one year | 42/48 | €23,509 | €9,946 | -€13,563 | -57.7% |
| Trade debts | 44 | €1,412 | €721 | -€691 | -48.9% |
| Suppliers | 440/4 | €1,412 | €721 | -€691 | -48.9% |
| Taxes, remuneration and social security | 45 | €14,177 | €9,225 | -€4,951 | -34.9% |
| Taxes | 450/3 | €10,788 | €9,225 | -€1,563 | -14.5% |
| Remuneration and social security | 454/9 | €3,388 | €0 | -€3,388 | -100% |
| Other amounts payable | 47/48 | €7,920 | €0 | -€7,920 | -100% |
| Accrued charges and deferred income | 492/3 | €1,883 | €0 | -€1,883 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €887 | +€887 | |
| Other operating charges | 640/8 | €523 | €1,137 | +€614 | +117% |
| Gross operating margin | 9900 | €56,050 | €50,985 | -€5,066 | -9.0% |
| Operating profit (loss) | 9901 | €55,528 | €48,961 | -€6,566 | -11.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €2,729 | €3,860 | +€1,131 | +41.4% |
| Recurring financial charges | 65 | €2,729 | €3,860 | +€1,131 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | €52,798 | €45,101 | -€7,698 | -14.6% |
| Income taxes | 67/77 | €10,788 | €9,225 | -€1,563 | -14.5% |
| Profit (loss) for the period | 9904 | €42,010 | €35,875 | -€6,135 | -14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,010 | €35,875 | -€6,135 | -14.6% |
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.