Dr. Pascale Abrams: 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. Pascale Abrams
Largest movements
- Cash +€364,947
up €364,947 (+80.9%), from €450,913 to €815,860
mainly Net result for the year (+€726,487) and Other debts (+€155,093)
- Current investments +€348,401
up €348,401 (+13.5%), from €2.6m to €2.9m
- Deferred charges and accrued income -€153,689
down €153,689 (-55.1%), from €278,940 to €125,251
- Reserves +€393,877
up €393,877 (+11.4%), from €3.5m to €3.8m
- Other debts +€155,093
up €155,093 (+35.6%), from €435,317 to €590,410
- Gross operating margin +€180,874
up €180,874 (+18.4%), from €981,587 to €1.2m
- Taxes +€60,210
up €60,210 (+21.5%), from €279,918 to €340,128
- Financial charges +€15,108
up €15,108 (+51.2%), from €29,526 to €44,635
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.
Cash bridge derived
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 | €4,334,570 | €4,886,908 | +€552,338 | +12.7% |
| Fixed assets | 21/28 | €1,016,834 | €994,523 | -€22,312 | -2.2% |
| Tangible fixed assets | 22/27 | €1,016,834 | €994,523 | -€22,312 | -2.2% |
| Land and buildings | 22 | €1,007,639 | €989,962 | -€17,677 | -1.8% |
| Plant, machinery and equipment | 23 | €6,747 | €2,653 | -€4,095 | -60.7% |
| Furniture and vehicles | 24 | €2,448 | €1,908 | -€540 | -22.1% |
| Current assets | 29/58 | €3,317,736 | €3,892,385 | +€574,649 | +17.3% |
| Amounts receivable within one year | 40/41 | €300 | €15,291 | +€14,991 | +4996.9% |
| Trade receivables | 40 | €300 | €15,291 | +€14,991 | +4996.9% |
| Current investments | 50/53 | €2,587,583 | €2,935,984 | +€348,401 | +13.5% |
| Cash at bank and in hand | 54/58 | €450,913 | €815,860 | +€364,947 | +80.9% |
| Deferred charges and accrued income | 490/1 | €278,940 | €125,251 | -€153,689 | -55.1% |
| Total equity and liabilities | 10/49 | €4,334,570 | €4,886,908 | +€552,338 | +12.7% |
| Equity | 10/15 | €3,469,719 | €3,863,596 | +€393,877 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,451,119 | €3,844,996 | +€393,877 | +11.4% |
| Distributable reserves | 133 | €3,451,119 | €3,844,996 | +€393,877 | +11.4% |
| Amounts payable | 17/49 | €864,851 | €1,023,312 | +€158,461 | +18.3% |
| Amounts payable after more than one year | 17 | €296,300 | €255,248 | -€41,051 | -13.9% |
| Financial debts | 170/4 | €296,300 | €255,248 | -€41,051 | -13.9% |
| Amounts payable within one year | 42/48 | €568,552 | €768,064 | +€199,512 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €40,705 | €41,051 | +€346 | +0.9% |
| Trade debts | 44 | €8,851 | €7,012 | -€1,839 | -20.8% |
| Suppliers | 440/4 | €8,851 | €7,012 | -€1,839 | -20.8% |
| Taxes, remuneration and social security | 45 | €83,679 | €129,591 | +€45,911 | +54.9% |
| Taxes | 450/3 | €83,679 | €129,591 | +€45,911 | +54.9% |
| Other amounts payable | 47/48 | €435,317 | €590,410 | +€155,093 | +35.6% |
| Non-recurring operating income | 76A | - | €16,500 | +€16,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,090 | €56,684 | +€2,594 | +4.8% |
| Other operating charges | 640/8 | €14,713 | €12,093 | -€2,621 | -17.8% |
| Gross operating margin | 9900 | €981,587 | €1,162,461 | +€180,874 | +18.4% |
| Operating profit (loss) | 9901 | €912,783 | €1,093,684 | +€180,901 | +19.8% |
| Financial income | 75/76B | €13,516 | €17,565 | +€4,049 | +30.0% |
| Recurring financial income | 75 | €13,516 | €17,565 | +€4,049 | +30.0% |
| Financial charges | 65/66B | €29,526 | €44,635 | +€15,108 | +51.2% |
| Recurring financial charges | 65 | €29,526 | €44,635 | +€15,108 | +51.2% |
| Profit (loss) for the period before taxes | 9903 | €896,773 | €1,066,614 | +€169,842 | +18.9% |
| Income taxes | 67/77 | €279,918 | €340,128 | +€60,210 | +21.5% |
| Profit (loss) for the period | 9904 | €616,855 | €726,487 | +€109,632 | +17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €616,855 | €726,487 | +€109,632 | +17.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.