DR. YULIYA SYZONENKO: 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. YULIYA SYZONENKO
Largest movements
- Cash +€42,264
up €42,264 (+59.5%), from €70,983 to €113,247
mainly Net result for the year (+€156,959) and Other debts (+€27,395)
- Tangible fixed assets -€10,112
down €10,112 (-51.6%), from €19,614 to €9,502
- Receivables after one year -€5,000
down €5,000 (-100%), from €5,000 to €0
- Deferred charges and accrued income +€2,732
up €2,732 (+48.5%), from €5,633 to €8,365
- Other debts +€27,395
up €27,395 (+19.8%), from €138,500 to €165,895
- Gross operating margin +€24,487
up €24,487 (+13.0%), from €188,426 to €212,913
- Taxes +€5,037
up €5,037 (+12.2%), from €41,203 to €46,239
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 | €152,687 | €181,184 | +€28,497 | +18.7% |
| Fixed assets | 21/28 | €19,614 | €9,502 | -€10,112 | -51.6% |
| Tangible fixed assets | 22/27 | €19,614 | €9,502 | -€10,112 | -51.6% |
| Furniture and vehicles | 24 | €19,614 | €9,502 | -€10,112 | -51.6% |
| Current assets | 29/58 | €133,073 | €171,682 | +€38,609 | +29.0% |
| Amounts receivable after more than one year | 29 | €5,000 | €0 | -€5,000 | -100% |
| Other amounts receivable | 291 | €5,000 | €0 | -€5,000 | -100% |
| Amounts receivable within one year | 40/41 | €1,457 | €70 | -€1,387 | -95.2% |
| Trade receivables | 40 | €105 | €70 | -€35 | -33.3% |
| Other amounts receivable | 41 | €1,352 | €0 | -€1,352 | -100% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €70,983 | €113,247 | +€42,264 | +59.5% |
| Deferred charges and accrued income | 490/1 | €5,633 | €8,365 | +€2,732 | +48.5% |
| Total equity and liabilities | 10/49 | €152,687 | €181,184 | +€28,497 | +18.7% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €149,687 | €178,184 | +€28,497 | +19.0% |
| Amounts payable within one year | 42/48 | €149,687 | €178,184 | +€28,497 | +19.0% |
| Trade debts | 44 | €2,180 | €1,625 | -€554 | -25.4% |
| Suppliers | 440/4 | €2,180 | €1,625 | -€554 | -25.4% |
| Taxes, remuneration and social security | 45 | €9,008 | €10,664 | +€1,656 | +18.4% |
| Taxes | 450/3 | €9,008 | €10,664 | +€1,656 | +18.4% |
| Other amounts payable | 47/48 | €138,500 | €165,895 | +€27,395 | +19.8% |
| Remuneration, social security and pensions | 62 | €896 | €641 | -€256 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,112 | €10,112 | = | 0.0% |
| Other operating charges | 640/8 | €669 | €690 | +€20 | +3.0% |
| Gross operating margin | 9900 | €188,426 | €212,913 | +€24,487 | +13.0% |
| Operating profit (loss) | 9901 | €176,749 | €201,471 | +€24,722 | +14.0% |
| Financial income | 75/76B | €2,533 | €1,773 | -€760 | -30.0% |
| Recurring financial income | 75 | €2,533 | €1,773 | -€760 | -30.0% |
| Financial charges | 65/66B | €44 | €45 | +€1 | +3.1% |
| Recurring financial charges | 65 | €44 | €45 | +€1 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €179,238 | €203,198 | +€23,960 | +13.4% |
| Income taxes | 67/77 | €41,203 | €46,239 | +€5,037 | +12.2% |
| Profit (loss) for the period | 9904 | €138,035 | €156,959 | +€18,924 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €138,035 | €156,959 | +€18,924 | +13.7% |
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 27 October 2026 via checked.be.