Dr. M.E.Landivar: 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. M.E.Landivar
Largest movements
- Cash -€50,004
down €50,004 (-71.8%), from €69,637 to €19,632
mainly Contributions, distributions and other (-€106,001) and Deferred charges and accrued income (-€547)
- Receivables within one year -€1,304
down €1,304 (-100%), from €1,304 to €0
- Tangible fixed assets -€899
down €899 (-21.4%), from €4,202 to €3,303
- Reserves -€79,400
down €79,400 (-99.8%), from €79,537 to €137
- Other debts +€21,678
up €21,678 (+1,232%), from €1,760 to €23,438
- Tax, wage and social debts +€3,113
up €3,113 (+649%), from €480 to €3,593
- Trade debts +€2,948
up €2,948 (+80.5%), from €3,661 to €6,609
- Gross operating margin +€6,456
up €6,456 (+21.9%), from €29,483 to €35,939
- Taxes +€1,299
up €1,299 (+22.8%), from €5,696 to €6,995
- Depreciation +€606
up €606 (+206%), from €293 to €899
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 | €88,437 | €36,777 | -€51,661 | -58.4% |
| Fixed assets | 21/28 | €4,952 | €4,053 | -€899 | -18.2% |
| Tangible fixed assets | 22/27 | €4,202 | €3,303 | -€899 | -21.4% |
| Plant, machinery and equipment | 23 | €4,202 | €3,303 | -€899 | -21.4% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €83,485 | €32,724 | -€50,762 | -60.8% |
| Amounts receivable within one year | 40/41 | €1,304 | €0 | -€1,304 | -100% |
| Other amounts receivable | 41 | €1,304 | €0 | -€1,304 | -100% |
| Cash at bank and in hand | 54/58 | €69,637 | €19,632 | -€50,004 | -71.8% |
| Deferred charges and accrued income | 490/1 | €12,544 | €13,091 | +€547 | +4.4% |
| Total equity and liabilities | 10/49 | €88,437 | €36,777 | -€51,661 | -58.4% |
| Equity | 10/15 | €82,537 | €3,137 | -€79,400 | -96.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €79,537 | €137 | -€79,400 | -99.8% |
| Distributable reserves | 133 | €79,537 | €137 | -€79,400 | -99.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,900 | €33,640 | +€27,739 | +470% |
| Amounts payable within one year | 42/48 | €5,900 | €33,640 | +€27,739 | +470% |
| Trade debts | 44 | €3,661 | €6,609 | +€2,948 | +80.5% |
| Suppliers | 440/4 | €3,661 | €6,609 | +€2,948 | +80.5% |
| Taxes, remuneration and social security | 45 | €480 | €3,593 | +€3,113 | +649% |
| Taxes | 450/3 | €480 | €3,593 | +€3,113 | +649% |
| Other amounts payable | 47/48 | €1,760 | €23,438 | +€21,678 | +1,232% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293 | €899 | +€606 | +206% |
| Other operating charges | 640/8 | €341 | €344 | +€4 | +1.1% |
| Non-recurring operating charges | 66A | €51 | €0 | -€51 | -100% |
| Gross operating margin | 9900 | €29,483 | €35,939 | +€6,456 | +21.9% |
| Operating profit (loss) | 9901 | €28,798 | €34,696 | +€5,898 | +20.5% |
| Financial income | 75/76B | €0 | €2 | +€2 | |
| Recurring financial income | 75 | €0 | €2 | +€2 | |
| Financial charges | 65/66B | €1,370 | €1,102 | -€269 | -19.6% |
| Recurring financial charges | 65 | €1,370 | €1,102 | -€269 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €27,428 | €33,596 | +€6,168 | +22.5% |
| Income taxes | 67/77 | €5,696 | €6,995 | +€1,299 | +22.8% |
| Profit (loss) for the period | 9904 | €21,732 | €26,601 | +€4,869 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,732 | €26,601 | +€4,869 | +22.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.