Dr Maxim Castro: what changed
Dr Maxim Castro
Largest movements
- Cash +€28,562
up €28,562 (+31.3%), from €91,326 to €119,889
mainly Net result for the year (+€79,980) and Current investments (+€16,331)
- Current investments -€16,331
down €16,331 (-80.8%), from €20,214 to €3,883
- Deferred charges and accrued income -€10,001
down €10,001 (-67.7%), from €14,772 to €4,771
- Receivables within one year +€1,870
up €1,870 (+27.7%), from €6,761 to €8,632
of which Other amounts receivable: +€3,105
- Tangible fixed assets -€1,708
down €1,708 (-94.9%), from €1,799 to €91
of which Plant, machinery and equipment: -€1,404
- Tax, wage and social debts +€3,973
up €3,973 (+252%), from €1,577 to €5,550
- Gross operating margin +€10,165
up €10,165 (+10.0%), from €101,285 to €111,450
- Taxes +€2,684
up €2,684 (+11.4%), from €23,577 to €26,261
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 | €134,873 | €137,266 | +€2,393 | +1.8% |
| Fixed assets | 21/28 | €1,799 | €91 | -€1,708 | -94.9% |
| Tangible fixed assets | 22/27 | €1,799 | €91 | -€1,708 | -94.9% |
| Plant, machinery and equipment | 23 | €1,458 | €54 | -€1,404 | -96.3% |
| Furniture and vehicles | 24 | €341 | €37 | -€304 | -89.2% |
| Current assets | 29/58 | €133,074 | €137,175 | +€4,101 | +3.1% |
| Amounts receivable within one year | 40/41 | €6,761 | €8,632 | +€1,870 | +27.7% |
| Trade receivables | 40 | €1,292 | €57 | -€1,235 | -95.6% |
| Other amounts receivable | 41 | €5,470 | €8,575 | +€3,105 | +56.8% |
| Current investments | 50/53 | €20,214 | €3,883 | -€16,331 | -80.8% |
| Cash at bank and in hand | 54/58 | €91,326 | €119,889 | +€28,562 | +31.3% |
| Deferred charges and accrued income | 490/1 | €14,772 | €4,771 | -€10,001 | -67.7% |
| Total equity and liabilities | 10/49 | €134,873 | €137,266 | +€2,393 | +1.8% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €131,873 | €134,266 | +€2,393 | +1.8% |
| Amounts payable within one year | 42/48 | €131,873 | €134,266 | +€2,393 | +1.8% |
| Trade debts | 44 | €2,835 | €2,458 | -€377 | -13.3% |
| Suppliers | 440/4 | €2,835 | €2,458 | -€377 | -13.3% |
| Taxes, remuneration and social security | 45 | €1,577 | €5,550 | +€3,973 | +252% |
| Taxes | 450/3 | €1,577 | €5,550 | +€3,973 | +252% |
| Other amounts payable | 47/48 | €127,460 | €126,257 | -€1,203 | -0.9% |
| Non-recurring operating income | 76A | €8,145 | €5,207 | -€2,938 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,030 | €1,708 | -€322 | -15.9% |
| Other operating charges | 640/8 | €524 | €539 | +€15 | +2.9% |
| Non-recurring operating charges | 66A | €88 | €603 | +€514 | +583% |
| Gross operating margin | 9900 | €101,285 | €111,450 | +€10,165 | +10.0% |
| Operating profit (loss) | 9901 | €98,643 | €108,600 | +€9,957 | +10.1% |
| Financial income | 75/76B | €1,087 | €1,338 | +€251 | +23.1% |
| Recurring financial income | 75 | €1,087 | €1,338 | +€251 | +23.1% |
| Financial charges | 65/66B | €4,440 | €3,697 | -€744 | -16.8% |
| Recurring financial charges | 65 | €4,440 | €3,697 | -€744 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €95,289 | €106,241 | +€10,952 | +11.5% |
| Income taxes | 67/77 | €23,577 | €26,261 | +€2,684 | +11.4% |
| Profit (loss) for the period | 9904 | €71,712 | €79,980 | +€8,268 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €71,712 | €79,980 | +€8,268 | +11.5% |
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 2 November 2026 via checked.be.