DR. NANESCU Ciprian: what changed
DR. NANESCU Ciprian
Largest movements
- Tangible fixed assets -€50,517
down €50,517 (-15.0%), from €337,235 to €286,718
of which Land and buildings: -€41,097
- Cash -€38,472
down €38,472 (-19.6%), from €196,516 to €158,044
mainly Contributions, distributions and other (-€240,371) and Investment in fixed assets (net) (-€55,195)
- Receivables within one year +€29,871
up €29,871 (+426%), from €7,011 to €36,882
of which Other amounts receivable: +€36,882
- Deferred charges and accrued income +€7,027
up €7,027 (+7.8%), from €90,592 to €97,619
- Profit (loss) carried forward -€74,470
no longer reported in 2025 (was €74,470)
- Other debts +€42,135
up €42,135 (+29.1%), from €145,000 to €187,135
- Debts after one year -€16,697
down €16,697 (-12.6%), from €132,714 to €116,017
- Tax, wage and social debts -€7,021
down €7,021 (-61.3%), from €11,455 to €4,434
of which Taxes: -€7,147
- Gross operating margin -€36,562
down €36,562 (-9.2%), from €395,812 to €359,251
- Taxes -€23,375
down €23,375 (-32.0%), from €73,147 to €49,772
- Depreciation +€22,761
up €22,761 (+27.4%), from €82,951 to €105,713
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 | €631,354 | €579,262 | -€52,092 | -8.3% |
| Fixed assets | 21/28 | €337,235 | €286,718 | -€50,517 | -15.0% |
| Tangible fixed assets | 22/27 | €337,235 | €286,718 | -€50,517 | -15.0% |
| Land and buildings | 22 | €173,041 | €131,945 | -€41,097 | -23.7% |
| Plant, machinery and equipment | 23 | €4,060 | €2,366 | -€1,694 | -41.7% |
| Furniture and vehicles | 24 | €112,647 | €119,697 | +€7,050 | +6.3% |
| Leasing and similar rights | 25 | €47,486 | €32,710 | -€14,776 | -31.1% |
| Current assets | 29/58 | €294,118 | €292,544 | -€1,574 | -0.5% |
| Amounts receivable within one year | 40/41 | €7,011 | €36,882 | +€29,871 | +426% |
| Trade receivables | 40 | €7,011 | - | -€7,011 | |
| Other amounts receivable | 41 | - | €36,882 | +€36,882 | |
| Cash at bank and in hand | 54/58 | €196,516 | €158,044 | -€38,472 | -19.6% |
| Deferred charges and accrued income | 490/1 | €90,592 | €97,619 | +€7,027 | +7.8% |
| Total equity and liabilities | 10/49 | €631,354 | €579,262 | -€52,092 | -8.3% |
| Equity | 10/15 | €295,000 | €220,530 | -€74,470 | -25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €201,930 | €201,930 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €200,070 | €200,070 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,470 | - | -€74,470 | |
| Amounts payable | 17/49 | €336,353 | €358,732 | +€22,379 | +6.7% |
| Amounts payable after more than one year | 17 | €132,714 | €116,017 | -€16,697 | -12.6% |
| Financial debts | 170/4 | €132,714 | €116,017 | -€16,697 | -12.6% |
| Amounts payable within one year | 42/48 | €202,037 | €240,961 | +€38,924 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €40,829 | €44,370 | +€3,541 | +8.7% |
| Trade debts | 44 | €4,753 | €5,021 | +€269 | +5.7% |
| Suppliers | 440/4 | €4,753 | €5,021 | +€269 | +5.7% |
| Taxes, remuneration and social security | 45 | €11,455 | €4,434 | -€7,021 | -61.3% |
| Taxes | 450/3 | €7,147 | - | -€7,147 | |
| Remuneration and social security | 454/9 | €4,308 | €4,434 | +€126 | +2.9% |
| Other amounts payable | 47/48 | €145,000 | €187,135 | +€42,135 | +29.1% |
| Accrued charges and deferred income | 492/3 | €1,602 | €1,754 | +€152 | +9.5% |
| Remuneration, social security and pensions | 62 | €25,847 | €26,472 | +€625 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,951 | €105,713 | +€22,761 | +27.4% |
| Other operating charges | 640/8 | €6,975 | €4,451 | -€2,524 | -36.2% |
| Gross operating margin | 9900 | €395,812 | €359,251 | -€36,562 | -9.2% |
| Operating profit (loss) | 9901 | €280,039 | €222,615 | -€57,425 | -20.5% |
| Financial income | 75/76B | €7 | €1 | -€6 | -83.8% |
| Recurring financial income | 75 | €7 | €1 | -€6 | -83.8% |
| Financial charges | 65/66B | €6,016 | €6,944 | +€928 | +15.4% |
| Recurring financial charges | 65 | €6,016 | €6,944 | +€928 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €274,030 | €215,672 | -€58,358 | -21.3% |
| Income taxes | 67/77 | €73,147 | €49,772 | -€23,375 | -32.0% |
| Profit (loss) for the period | 9904 | €200,883 | €165,900 | -€34,983 | -17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €200,883 | €165,900 | -€34,983 | -17.4% |
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 4 November 2026 via checked.be.