Dr. Sadowska Anna: what changed
Dr. Sadowska Anna
Largest movements
- Current investments -€132,875
down €132,875 (-33.7%), from €393,766 to €260,891
- Cash +€84,521
up €84,521 (+69.3%), from €122,006 to €206,527
mainly Other debts (+€148,238) and Current investments (+€132,875)
- Receivables within one year +€5,978
up €5,978 (+1,317%), from €454 to €6,432
- Reserves -€150,000
down €150,000 (-27.2%), from €550,995 to €400,995
of which Distributable reserves: -€150,000
- Other debts +€148,238
up €148,238 (+3,128%), from €4,739 to €152,977
- Profit (loss) carried forward -€39,346
down €39,346 (-65.8%), from -€59,784 to -€99,131
- Gross operating margin -€14,412
down €14,412 (-61.1%), from -€23,580 to -€37,992
- Depreciation +€9,028
up €9,028 (+3,436%), from €263 to €9,290
- Financial income +€2,036
up €2,036 (+28.6%), from €7,112 to €9,148
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 | €517,307 | €474,953 | -€42,354 | -8.2% |
| Current assets | 29/58 | €517,307 | €474,953 | -€42,354 | -8.2% |
| Amounts receivable within one year | 40/41 | €454 | €6,432 | +€5,978 | +1,317% |
| Other amounts receivable | 41 | €454 | €6,432 | +€5,978 | +1,317% |
| Current investments | 50/53 | €393,766 | €260,891 | -€132,875 | -33.7% |
| Cash at bank and in hand | 54/58 | €122,006 | €206,527 | +€84,521 | +69.3% |
| Deferred charges and accrued income | 490/1 | €1,081 | €1,103 | +€22 | +2.0% |
| Total equity and liabilities | 10/49 | €517,307 | €474,953 | -€42,354 | -8.2% |
| Equity | 10/15 | €509,810 | €320,464 | -€189,346 | -37.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €550,995 | €400,995 | -€150,000 | -27.2% |
| 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 | €549,135 | €399,135 | -€150,000 | -27.3% |
| Profit (loss) carried forward | 14 | -€59,784 | -€99,131 | -€39,346 | -65.8% |
| Amounts payable | 17/49 | €7,497 | €154,489 | +€146,993 | +1,961% |
| Amounts payable within one year | 42/48 | €7,497 | €154,489 | +€146,993 | +1,961% |
| Trade debts | 44 | €2,758 | €1,512 | -€1,245 | -45.2% |
| Suppliers | 440/4 | €2,758 | €1,512 | -€1,245 | -45.2% |
| Other amounts payable | 47/48 | €4,739 | €152,977 | +€148,238 | +3,128% |
| Non-recurring operating income | 76A | €8,470 | - | -€8,470 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €263 | €9,290 | +€9,028 | +3,436% |
| Other operating charges | 640/8 | €572 | €681 | +€109 | +19.1% |
| Gross operating margin | 9900 | -€23,580 | -€37,992 | -€14,412 | -61.1% |
| Operating profit (loss) | 9901 | -€24,414 | -€47,964 | -€23,550 | -96.5% |
| Financial income | 75/76B | €7,112 | €9,148 | +€2,036 | +28.6% |
| Recurring financial income | 75 | €7,112 | €9,148 | +€2,036 | +28.6% |
| Financial charges | 65/66B | €520 | €355 | -€165 | -31.7% |
| Recurring financial charges | 65 | €520 | €355 | -€165 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,822 | -€39,171 | -€21,348 | -120% |
| Income taxes | 67/77 | €151 | €176 | +€25 | +16.7% |
| Profit (loss) for the period | 9904 | -€17,973 | -€39,346 | -€21,373 | -119% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,973 | -€39,346 | -€21,373 | -119% |
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 5 November 2026 via checked.be.