Dr. Riwa Nasser: 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. Riwa Nasser
Largest movements
- Cash +€36,393
up €36,393 (+103%), from €35,472 to €71,865
mainly Net result for the year (+€42,946) and Deferred charges and accrued income (+€9,164)
- Deferred charges and accrued income -€9,164
down €9,164 (-34.8%), from €26,339 to €17,175
- Receivables within one year +€7,110
up €7,110 (+143%), from €4,968 to €12,078
of which Other amounts receivable: +€7,003
- Tangible fixed assets +€7,095
up €7,095 (+569%), from €1,248 to €8,342
- Reserves +€42,946
up €42,946 (+89.9%), from €47,777 to €90,723
- Gross operating margin -€4,422
down €4,422 (-7.1%), from €62,397 to €57,975
- Depreciation +€1,348
up €1,348 (+768%), from €175 to €1,523
- Taxes -€956
down €956 (-7.6%), from €12,547 to €11,591
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 | €68,026 | €109,460 | +€41,434 | +60.9% |
| Fixed assets | 21/28 | €1,248 | €8,342 | +€7,095 | +569% |
| Tangible fixed assets | 22/27 | €1,248 | €8,342 | +€7,095 | +569% |
| Furniture and vehicles | 24 | €1,248 | €8,342 | +€7,095 | +569% |
| Current assets | 29/58 | €66,779 | €101,118 | +€34,339 | +51.4% |
| Amounts receivable within one year | 40/41 | €4,968 | €12,078 | +€7,110 | +143% |
| Trade receivables | 40 | €4,968 | €5,075 | +€107 | +2.2% |
| Other amounts receivable | 41 | - | €7,003 | +€7,003 | |
| Cash at bank and in hand | 54/58 | €35,472 | €71,865 | +€36,393 | +103% |
| Deferred charges and accrued income | 490/1 | €26,339 | €17,175 | -€9,164 | -34.8% |
| Total equity and liabilities | 10/49 | €68,026 | €109,460 | +€41,434 | +60.9% |
| Equity | 10/15 | €52,777 | €95,723 | +€42,946 | +81.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,777 | €90,723 | +€42,946 | +89.9% |
| Distributable reserves | 133 | €47,777 | €90,723 | +€42,946 | +89.9% |
| Amounts payable | 17/49 | €15,249 | €13,737 | -€1,512 | -9.9% |
| Amounts payable within one year | 42/48 | €15,249 | €13,737 | -€1,512 | -9.9% |
| Trade debts | 44 | €2,402 | €2,146 | -€256 | -10.7% |
| Suppliers | 440/4 | €2,402 | €2,146 | -€256 | -10.7% |
| Taxes, remuneration and social security | 45 | €12,547 | €11,591 | -€956 | -7.6% |
| Taxes | 450/3 | €12,547 | €11,591 | -€956 | -7.6% |
| Other amounts payable | 47/48 | €300 | - | -€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €175 | €1,523 | +€1,348 | +768% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €62,397 | €57,975 | -€4,422 | -7.1% |
| Operating profit (loss) | 9901 | €62,221 | €56,331 | -€5,890 | -9.5% |
| Financial income | 75/76B | - | €251 | +€251 | |
| Recurring financial income | 75 | - | €251 | +€251 | |
| Financial charges | 65/66B | €1,897 | €2,046 | +€148 | +7.8% |
| Recurring financial charges | 65 | €1,897 | €2,046 | +€148 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €60,324 | €54,536 | -€5,788 | -9.6% |
| Income taxes | 67/77 | €12,547 | €11,591 | -€956 | -7.6% |
| Profit (loss) for the period | 9904 | €47,777 | €42,946 | -€4,832 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,777 | €42,946 | -€4,832 | -10.1% |
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.