Dr Raimund SCHMITZ: 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 Raimund SCHMITZ
Largest movements
- Current investments +€437,376
new in 2025: €437,376
- Cash -€388,384
down €388,384 (-74.3%), from €522,638 to €134,254
mainly Current investments (-€437,376) and Contributions, distributions and other (-€148,513)
- Receivables within one year +€31,016
up €31,016 (+77.6%), from €39,976 to €70,992
of which Other amounts receivable: +€22,898
- Receivables after one year -€9,158
down €9,158 (-4.8%), from €190,000 to €180,842
- Other debts +€133,505
up €133,505 (+26,701%), from €500 to €134,005
- Reserves -€65,515
down €65,515 (-16.5%), from €396,281 to €330,766
- Financial income -€69,298
down €69,298 (-71.2%), from €97,359 to €28,061
- Taxes -€24,107
down €24,107 (-43.3%), from €55,717 to €31,610
- Gross operating margin +€17,673
up €17,673 (+25.2%), from €70,129 to €87,801
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 | €757,756 | €830,508 | +€72,752 | +9.6% |
| Fixed assets | 21/28 | - | €963 | +€963 | |
| Tangible fixed assets | 22/27 | - | €963 | +€963 | |
| Plant, machinery and equipment | 23 | - | €963 | +€963 | |
| Current assets | 29/58 | €757,756 | €829,545 | +€71,789 | +9.5% |
| Amounts receivable after more than one year | 29 | €190,000 | €180,842 | -€9,158 | -4.8% |
| Other amounts receivable | 291 | €190,000 | €180,842 | -€9,158 | -4.8% |
| Stocks and contracts in progress | 3 | €4,327 | €2,849 | -€1,478 | -34.2% |
| Stocks | 30/36 | €4,327 | €2,849 | -€1,478 | -34.2% |
| Amounts receivable within one year | 40/41 | €39,976 | €70,992 | +€31,016 | +77.6% |
| Trade receivables | 40 | €16,987 | €25,105 | +€8,118 | +47.8% |
| Other amounts receivable | 41 | €22,988 | €45,887 | +€22,898 | +99.6% |
| Current investments | 50/53 | - | €437,376 | +€437,376 | |
| Cash at bank and in hand | 54/58 | €522,638 | €134,254 | -€388,384 | -74.3% |
| Deferred charges and accrued income | 490/1 | €815 | €3,231 | +€2,417 | +297% |
| Total equity and liabilities | 10/49 | €757,756 | €830,508 | +€72,752 | +9.6% |
| Equity | 10/15 | €743,656 | €678,141 | -€65,515 | -8.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €396,281 | €330,766 | -€65,515 | -16.5% |
| Distributable reserves | 133 | €396,281 | €330,766 | -€65,515 | -16.5% |
| Profit (loss) carried forward | 14 | €334,975 | €334,975 | = | 0.0% |
| Amounts payable | 17/49 | €14,100 | €152,367 | +€138,267 | +981% |
| Amounts payable within one year | 42/48 | €14,100 | €152,367 | +€138,267 | +981% |
| Trade debts | 44 | €2,570 | €1,926 | -€644 | -25.1% |
| Suppliers | 440/4 | €2,570 | €1,926 | -€644 | -25.1% |
| Taxes, remuneration and social security | 45 | €11,030 | €16,436 | +€5,406 | +49.0% |
| Taxes | 450/3 | €11,030 | €16,436 | +€5,406 | +49.0% |
| Other amounts payable | 47/48 | €500 | €134,005 | +€133,505 | +26,701% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115 | €49 | -€67 | -57.9% |
| Other operating charges | 640/8 | €1,321 | €1,170 | -€150 | -11.4% |
| Gross operating margin | 9900 | €70,129 | €87,801 | +€17,673 | +25.2% |
| Operating profit (loss) | 9901 | €68,693 | €86,583 | +€17,890 | +26.0% |
| Financial income | 75/76B | €97,359 | €28,061 | -€69,298 | -71.2% |
| Recurring financial income | 75 | €97,359 | €28,061 | -€69,298 | -71.2% |
| Financial charges | 65/66B | €33 | €34 | +€1 | +3.9% |
| Recurring financial charges | 65 | €33 | €34 | +€1 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €166,019 | €114,609 | -€51,410 | -31.0% |
| Income taxes | 67/77 | €55,717 | €31,610 | -€24,107 | -43.3% |
| Profit (loss) for the period | 9904 | €110,301 | €82,998 | -€27,303 | -24.8% |
| Profit (loss) for the period to be appropriated | 9905 | €110,301 | €82,998 | -€27,303 | -24.8% |
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 31 October 2026 via checked.be.