Dr. Marco Vreven: 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. Marco Vreven
Largest movements
- Cash -€1,622
down €1,622 (-76.9%), from €2,108 to €486
mainly Other debts (-€1,932) and Net result for the year (-€914)
- Other debts -€1,932
down €1,932 (-83.4%), from €2,316 to €384
- Trade debts +€1,223
new in 2025: €1,223
- Profit (loss) carried forward -€914
down €914 (-60.8%), from -€1,502 to -€2,415
- Gross operating margin +€961
up €961 (+63.8%), from -€1,505 to -€545
- Financial charges +€231
up €231 (+167.8%), from €138 to €369
- Taxes -€91
down €91 (-100.0%), from €91 to €0
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.
Cash bridge derived
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 | €3,158 | €1,536 | -€1,622 | -51.4% |
| Current assets | 29/58 | €3,158 | €1,536 | -€1,622 | -51.4% |
| Amounts receivable within one year | 40/41 | €1,050 | €1,050 | = | 0.0% |
| Trade receivables | 40 | €1,050 | €1,050 | = | 0.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,108 | €486 | -€1,622 | -76.9% |
| Total equity and liabilities | 10/49 | €3,158 | €1,536 | -€1,622 | -51.4% |
| Equity | 10/15 | €498 | -€415 | -€914 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€1,502 | -€2,415 | -€914 | -60.8% |
| Amounts payable | 17/49 | €2,660 | €1,951 | -€708 | -26.6% |
| Amounts payable within one year | 42/48 | €2,660 | €1,951 | -€708 | -26.6% |
| Trade debts | 44 | - | €1,223 | +€1,223 | |
| Suppliers | 440/4 | - | €1,223 | +€1,223 | |
| Taxes, remuneration and social security | 45 | €344 | €344 | = | 0.0% |
| Taxes | 450/3 | €344 | €344 | = | 0.0% |
| Other amounts payable | 47/48 | €2,316 | €384 | -€1,932 | -83.4% |
| Gross operating margin | 9900 | -€1,505 | -€545 | +€961 | +63.8% |
| Operating profit (loss) | 9901 | -€1,505 | -€545 | +€961 | +63.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €138 | €369 | +€231 | +167.8% |
| Recurring financial charges | 65 | €138 | €369 | +€231 | +167.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,643 | -€914 | +€730 | +44.4% |
| Income taxes | 67/77 | €91 | €0 | -€91 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,734 | -€914 | +€821 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,734 | -€914 | +€821 | +47.3% |
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 9 October 2026 via checked.be.