Dr. Melissa Das: 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. Melissa Das
Largest movements
- Receivables after one year +€160,000
new in 2025: €160,000
- Deferred charges and accrued income -€52,643
down €52,643 (-90.9%), from €57,894 to €5,251
- Cash +€12,402
up €12,402 (+7.2%), from €173,377 to €185,779
mainly Net result for the year (+€86,903) and Deferred charges and accrued income (+€52,643)
- Profit (loss) carried forward +€86,903
up €86,903, from €0 to €86,903
- Tax, wage and social debts +€23,523
up €23,523 (+43.6%), from €53,907 to €77,431
- Trade debts +€4,531
up €4,531 (+2,233%), from €203 to €4,734
- Gross operating margin -€118,910
down €118,910 (-51.4%), from €231,358 to €112,448
- Taxes -€27,784
down €27,784 (-53.7%), from €51,693 to €23,909
- Financial income +€5,074
up €5,074 (+8,041%), from €63 to €5,138
- Depreciation -€3,574
down €3,574 (-44.6%), from €8,011 to €4,437
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 | €239,569 | €355,981 | +€116,411 | +48.6% |
| Fixed assets | 21/28 | €8,299 | €4,951 | -€3,348 | -40.3% |
| Tangible fixed assets | 22/27 | €8,299 | €4,951 | -€3,348 | -40.3% |
| Furniture and vehicles | 24 | €8,299 | €4,951 | -€3,348 | -40.3% |
| Current assets | 29/58 | €231,271 | €351,030 | +€119,759 | +51.8% |
| Amounts receivable after more than one year | 29 | - | €160,000 | +€160,000 | |
| Other amounts receivable | 291 | - | €160,000 | +€160,000 | |
| Cash at bank and in hand | 54/58 | €173,377 | €185,779 | +€12,402 | +7.2% |
| Deferred charges and accrued income | 490/1 | €57,894 | €5,251 | -€52,643 | -90.9% |
| Total equity and liabilities | 10/49 | €239,569 | €355,981 | +€116,411 | +48.6% |
| Equity | 10/15 | €171,861 | €258,764 | +€86,903 | +50.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €169,361 | €169,361 | = | 0.0% |
| Distributable reserves | 133 | €169,361 | €169,361 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €86,903 | +€86,903 | |
| Amounts payable | 17/49 | €67,709 | €97,217 | +€29,509 | +43.6% |
| Amounts payable within one year | 42/48 | €67,709 | €95,955 | +€28,247 | +41.7% |
| Trade debts | 44 | €203 | €4,734 | +€4,531 | +2,233% |
| Suppliers | 440/4 | €203 | €4,734 | +€4,531 | +2,233% |
| Taxes, remuneration and social security | 45 | €53,907 | €77,431 | +€23,523 | +43.6% |
| Taxes | 450/3 | €53,907 | €77,431 | +€23,523 | +43.6% |
| Other amounts payable | 47/48 | €13,598 | €13,790 | +€192 | +1.4% |
| Accrued charges and deferred income | 492/3 | - | €1,262 | +€1,262 | |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,011 | €4,437 | -€3,574 | -44.6% |
| Other operating charges | 640/8 | €115 | €514 | +€399 | +347% |
| Gross operating margin | 9900 | €231,358 | €112,448 | -€118,910 | -51.4% |
| Operating profit (loss) | 9901 | €223,232 | €107,247 | -€115,984 | -52.0% |
| Financial income | 75/76B | €63 | €5,138 | +€5,074 | +8,041% |
| Recurring financial income | 75 | €63 | €5,138 | +€5,074 | +8,041% |
| Financial charges | 65/66B | €1,382 | €1,573 | +€191 | +13.8% |
| Recurring financial charges | 65 | €1,382 | €1,573 | +€191 | +13.8% |
| Profit (loss) for the period before taxes | 9903 | €221,913 | €110,812 | -€111,101 | -50.1% |
| Income taxes | 67/77 | €51,693 | €23,909 | -€27,784 | -53.7% |
| Profit (loss) for the period | 9904 | €170,220 | €86,903 | -€83,317 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €170,220 | €86,903 | -€83,317 | -48.9% |
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 26 October 2026 via checked.be.