Dr. Lynn Pien: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
Dr. Lynn Pien
Largest movements
- Receivables within one year +€162,151
up €162,151 (+157%), from €103,270 to €265,421
- Current investments -€51,271
down €51,271 (-41.0%), from €124,922 to €73,651
- Cash -€41,163
down €41,163 (-61.9%), from €66,452 to €25,289
mainly Receivables within one year (-€162,151) and Other debts (-€52,290)
- Intangible fixed assets -€8,000
down €8,000 (-13.2%), from €60,427 to €52,427
- Profit (loss) carried forward +€127,636
up €127,636 (+42.2%), from €302,476 to €430,112
- Other debts -€52,290
down €52,290 (-100%), from €52,290 to €0
- Tax, wage and social debts -€13,820
down €13,820 (-25.7%), from €53,846 to €40,027
- Gross operating margin -€57,551
down €57,551 (-25.6%), from €225,098 to €167,547
- Taxes -€14,505
down €14,505 (-27.7%), from €52,380 to €37,875
- Financial income +€5,118
up €5,118 (+72.5%), from €7,059 to €12,177
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €412,848 | €473,111 | +€60,263 | +14.6% |
| Fixed assets | 21/28 | €68,932 | €60,387 | -€8,545 | -12.4% |
| Intangible fixed assets | 21 | €60,427 | €52,427 | -€8,000 | -13.2% |
| Tangible fixed assets | 22/27 | €7,905 | €7,360 | -€545 | -6.9% |
| Plant, machinery and equipment | 23 | €6,683 | €5,084 | -€1,599 | -23.9% |
| Furniture and vehicles | 24 | €1,222 | €2,276 | +€1,054 | +86.2% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €343,916 | €412,724 | +€68,808 | +20.0% |
| Amounts receivable after more than one year | 29 | €35,000 | €35,000 | = | 0.0% |
| Other amounts receivable | 291 | €35,000 | €35,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €103,270 | €265,421 | +€162,151 | +157% |
| Other amounts receivable | 41 | €103,270 | €265,421 | +€162,151 | +157% |
| Current investments | 50/53 | €124,922 | €73,651 | -€51,271 | -41.0% |
| Cash at bank and in hand | 54/58 | €66,452 | €25,289 | -€41,163 | -61.9% |
| Deferred charges and accrued income | 490/1 | €14,272 | €13,362 | -€910 | -6.4% |
| Total equity and liabilities | 10/49 | €412,848 | €473,111 | +€60,263 | +14.6% |
| Equity | 10/15 | €302,477 | €430,113 | +€127,636 | +42.2% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €302,476 | €430,112 | +€127,636 | +42.2% |
| Amounts payable | 17/49 | €110,372 | €42,998 | -€67,373 | -61.0% |
| Amounts payable within one year | 42/48 | €110,372 | €42,998 | -€67,373 | -61.0% |
| Trade debts | 44 | €4,235 | €2,971 | -€1,264 | -29.8% |
| Suppliers | 440/4 | €4,235 | €2,971 | -€1,264 | -29.8% |
| Taxes, remuneration and social security | 45 | €53,846 | €40,027 | -€13,820 | -25.7% |
| Taxes | 450/3 | €53,846 | €40,027 | -€13,820 | -25.7% |
| Other amounts payable | 47/48 | €52,290 | €0 | -€52,290 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,787 | €10,432 | +€645 | +6.6% |
| Other operating charges | 640/8 | €1,166 | €3,326 | +€2,161 | +185% |
| Gross operating margin | 9900 | €225,098 | €167,547 | -€57,551 | -25.6% |
| Operating profit (loss) | 9901 | €214,146 | €153,789 | -€60,357 | -28.2% |
| Financial income | 75/76B | €7,059 | €12,177 | +€5,118 | +72.5% |
| Recurring financial income | 75 | €7,059 | €12,177 | +€5,118 | +72.5% |
| Financial charges | 65/66B | €1,354 | €456 | -€898 | -66.3% |
| Recurring financial charges | 65 | €1,354 | €456 | -€898 | -66.3% |
| Profit (loss) for the period before taxes | 9903 | €219,851 | €165,511 | -€54,340 | -24.7% |
| Income taxes | 67/77 | €52,380 | €37,875 | -€14,505 | -27.7% |
| Profit (loss) for the period | 9904 | €167,472 | €127,636 | -€39,836 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €167,472 | €127,636 | -€39,836 | -23.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.