Dr. Mark Ronsyn: what changed
Dr. Mark Ronsyn
Largest movements
- Deferred charges and accrued income +€135,187
up €135,187 (+1,801%), from €7,508 to €142,695
- Current investments +€124,794
up €124,794 (+26.4%), from €472,493 to €597,287
- Cash -€91,689
down €91,689 (-20.1%), from €455,082 to €363,392
mainly Contributions, distributions and other (-€173,311) and Deferred charges and accrued income (-€135,187)
- Intangible fixed assets -€37,000
down €37,000 (-33.3%), from €111,000 to €74,000
- Receivables within one year -€15,770
down €15,770 (-84.2%), from €18,732 to €2,962
- Reserves +€71,435
up €71,435 (+6.8%), from €1.0m to €1.1m
- Other debts +€33,924
up €33,924 (+83.7%), from €40,550 to €74,474
- Gross operating margin -€45,143
down €45,143 (-10.3%), from €437,391 to €392,248
- Taxes -€7,259
down €7,259 (-6.4%), from €113,191 to €105,933
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 | €1,102,246 | €1,216,062 | +€113,816 | +10.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €148,431 | €109,726 | -€38,704 | -26.1% |
| Intangible fixed assets | 21 | €111,000 | €74,000 | -€37,000 | -33.3% |
| Tangible fixed assets | 22/27 | €37,431 | €35,726 | -€1,704 | -4.6% |
| Furniture and vehicles | 24 | €35,436 | €33,731 | -€1,704 | -4.8% |
| Other tangible fixed assets | 26 | €1,995 | €1,995 | = | 0.0% |
| Current assets | 29/58 | €953,815 | €1,106,336 | +€152,521 | +16.0% |
| Amounts receivable within one year | 40/41 | €18,732 | €2,962 | -€15,770 | -84.2% |
| Trade receivables | 40 | €18,732 | €2,962 | -€15,770 | -84.2% |
| Current investments | 50/53 | €472,493 | €597,287 | +€124,794 | +26.4% |
| Cash at bank and in hand | 54/58 | €455,082 | €363,392 | -€91,689 | -20.1% |
| Deferred charges and accrued income | 490/1 | €7,508 | €142,695 | +€135,187 | +1,801% |
| Total equity and liabilities | 10/49 | €1,102,246 | €1,216,062 | +€113,816 | +10.3% |
| Equity | 10/15 | €1,047,775 | €1,119,210 | +€71,435 | +6.8% |
| Contributions | 10/11 | €550 | €550 | = | 0.0% |
| Reserves | 13 | €1,047,225 | €1,118,660 | +€71,435 | +6.8% |
| Distributable reserves | 133 | €1,047,225 | €1,118,660 | +€71,435 | +6.8% |
| Amounts payable | 17/49 | €54,470 | €96,852 | +€42,382 | +77.8% |
| Amounts payable within one year | 42/48 | €54,470 | €96,852 | +€42,382 | +77.8% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €13,921 | €22,378 | +€8,458 | +60.8% |
| Taxes | 450/3 | €13,921 | €22,378 | +€8,458 | +60.8% |
| Other amounts payable | 47/48 | €40,550 | €74,474 | +€33,924 | +83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,850 | €46,004 | +€1,154 | +2.6% |
| Other operating charges | 640/8 | €1,353 | €1,328 | -€25 | -1.8% |
| Gross operating margin | 9900 | €437,391 | €392,248 | -€45,143 | -10.3% |
| Operating profit (loss) | 9901 | €391,189 | €344,916 | -€46,273 | -11.8% |
| Financial income | 75/76B | €9,236 | €6,848 | -€2,388 | -25.9% |
| Recurring financial income | 75 | €9,236 | €6,848 | -€2,388 | -25.9% |
| Financial charges | 65/66B | €83 | €1,085 | +€1,003 | +1,216% |
| Recurring financial charges | 65 | €83 | €1,085 | +€1,003 | +1,216% |
| Profit (loss) for the period before taxes | 9903 | €400,342 | €350,679 | -€49,663 | -12.4% |
| Income taxes | 67/77 | €113,191 | €105,933 | -€7,259 | -6.4% |
| Profit (loss) for the period | 9904 | €287,150 | €244,746 | -€42,405 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €287,150 | €244,746 | -€42,405 | -14.8% |
Next steps
Calculation and sources
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 3 November 2026 via checked.be.