Dr. Marte Møller-Hansen: 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. Marte Møller-Hansen
Largest movements
- Cash +€3,019
up €3,019 (+161%), from €1,881 to €4,900
mainly Other debts (+€1,683) and Depreciation (+€952)
- Formation expenses -€952
down €952 (-50.3%), from €1,894 to €942
- Receivables within one year -€240
down €240 (-70.2%), from €342 to €102
- Other debts +€1,683
up €1,683 (+27.5%), from €6,112 to €7,796
- Profit (loss) carried forward +€73
up €73 (+1.5%), from -€5,000 to -€4,928
- Trade debts +€71
up €71 (+59.0%), from €121 to €192
- Gross operating margin +€5,086
up €5,086, from -€3,867 to €1,219
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 | €4,116 | €5,944 | +€1,827 | +44.4% |
| Formation expenses | 20 | €1,894 | €942 | -€952 | -50.3% |
| Current assets | 29/58 | €2,223 | €5,002 | +€2,779 | +125% |
| Amounts receivable within one year | 40/41 | €342 | €102 | -€240 | -70.2% |
| Trade receivables | 40 | €342 | €102 | -€240 | -70.2% |
| Cash at bank and in hand | 54/58 | €1,881 | €4,900 | +€3,019 | +161% |
| Total equity and liabilities | 10/49 | €4,116 | €5,944 | +€1,827 | +44.4% |
| Equity | 10/15 | -€2,117 | -€2,044 | +€73 | +3.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €1,383 | €1,383 | = | 0.0% |
| Distributable reserves | 133 | €1,383 | €1,383 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,000 | -€4,928 | +€73 | +1.5% |
| Amounts payable | 17/49 | €6,233 | €7,988 | +€1,755 | +28.2% |
| Amounts payable within one year | 42/48 | €6,233 | €7,988 | +€1,755 | +28.2% |
| Trade debts | 44 | €121 | €192 | +€71 | +59.0% |
| Suppliers | 440/4 | €121 | €192 | +€71 | +59.0% |
| Other amounts payable | 47/48 | €6,112 | €7,796 | +€1,683 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €951 | €952 | +€1 | +0.1% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€3,867 | €1,219 | +€5,086 | |
| Operating profit (loss) | 9901 | -€4,935 | €148 | +€5,083 | |
| Financial charges | 65/66B | €65 | €75 | +€10 | +14.9% |
| Recurring financial charges | 65 | €65 | €75 | +€10 | +14.9% |
| Profit (loss) for the period before taxes | 9903 | -€5,000 | €73 | +€5,073 | |
| Profit (loss) for the period | 9904 | -€5,000 | €73 | +€5,073 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,000 | €73 | +€5,073 |
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.