Dr. T. Mangodt: 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. T. Mangodt
Largest movements
- Cash +€63,014
up €63,014 (+408%), from €15,439 to €78,453
mainly Net result for the year (+€85,967) and Other debts (+€18,840)
- Deferred charges and accrued income +€25,251
up €25,251 (+101%), from €25,104 to €50,355
- Tangible fixed assets +€2,866
up €2,866 (+160%), from €1,787 to €4,653
- Receivables within one year +€2,258
new in 2025: €2,258
- Reserves +€67,127
up €67,127 (+247%), from €27,159 to €94,286
- Other debts +€18,840
new in 2025: €18,840
- Tax, wage and social debts +€7,784
up €7,784 (+83.4%), from €9,328 to €17,112
- Gross operating margin +€69,823
up €69,823 (+206%), from €33,974 to €103,797
- Taxes +€10,359
up €10,359 (+153%), from €6,753 to €17,112
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 | €42,330 | €135,719 | +€93,389 | +221% |
| Fixed assets | 21/28 | €1,787 | €4,653 | +€2,866 | +160% |
| Tangible fixed assets | 22/27 | €1,787 | €4,653 | +€2,866 | +160% |
| Furniture and vehicles | 24 | €1,787 | €4,653 | +€2,866 | +160% |
| Current assets | 29/58 | €40,543 | €131,066 | +€90,523 | +223% |
| Amounts receivable within one year | 40/41 | - | €2,258 | +€2,258 | |
| Other amounts receivable | 41 | - | €2,258 | +€2,258 | |
| Cash at bank and in hand | 54/58 | €15,439 | €78,453 | +€63,014 | +408% |
| Deferred charges and accrued income | 490/1 | €25,104 | €50,355 | +€25,251 | +101% |
| Total equity and liabilities | 10/49 | €42,330 | €135,719 | +€93,389 | +221% |
| Equity | 10/15 | €32,159 | €99,286 | +€67,127 | +209% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,159 | €94,286 | +€67,127 | +247% |
| Distributable reserves | 133 | €27,159 | €94,286 | +€67,127 | +247% |
| Amounts payable | 17/49 | €10,171 | €36,433 | +€26,262 | +258% |
| Amounts payable within one year | 42/48 | €10,171 | €36,277 | +€26,107 | +257% |
| Trade debts | 44 | €843 | €325 | -€517 | -61.4% |
| Suppliers | 440/4 | €843 | €325 | -€517 | -61.4% |
| Taxes, remuneration and social security | 45 | €9,328 | €17,112 | +€7,784 | +83.4% |
| Taxes | 450/3 | €9,328 | €17,112 | +€7,784 | +83.4% |
| Other amounts payable | 47/48 | - | €18,840 | +€18,840 | |
| Accrued charges and deferred income | 492/3 | - | €155 | +€155 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62 | €573 | +€511 | +824% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €33,974 | €103,797 | +€69,823 | +206% |
| Operating profit (loss) | 9901 | €33,912 | €103,104 | +€69,192 | +204% |
| Financial charges | 65/66B | - | €25 | +€25 | |
| Recurring financial charges | 65 | - | €25 | +€25 | |
| Profit (loss) for the period before taxes | 9903 | €33,912 | €103,079 | +€69,167 | +204% |
| Income taxes | 67/77 | €6,753 | €17,112 | +€10,359 | +153% |
| Profit (loss) for the period | 9904 | €27,159 | €85,967 | +€58,808 | +217% |
| Profit (loss) for the period to be appropriated | 9905 | €27,159 | €85,967 | +€58,808 | +217% |
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 21 October 2026 via checked.be.