EMINENT STUDIES: 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.
EMINENT STUDIES
Largest movements
- Receivables after one year +€3,000
up €3,000 (+8.1%), from €37,000 to €40,000
- Receivables within one year +€2,779
up €2,779 (+93.3%), from €2,979 to €5,758
- Tangible fixed assets +€1,857
up €1,857 (+176%), from €1,057 to €2,914
- Profit (loss) carried forward +€8,081
new in 2025: €8,081
- Tax, wage and social debts +€5,755
up €5,755 (+36.8%), from €15,645 to €21,400
of which Taxes: +€3,635
- Trade debts -€5,037
no longer reported in 2025 (was €5,037)
- Other debts -€1,227
down €1,227 (-60.0%), from €2,044 to €818
- Gross operating margin -€23,750
down €23,750 (-60.8%), from €39,067 to €15,317
- Taxes -€9,089
down €9,089 (-73.0%), from €12,446 to €3,357
- Financial income -€632
down €632 (-100.0%), from €632 to €0
- Financial charges -€512
down €512 (-15.7%), from €3,259 to €2,747
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 | €46,709 | €54,280 | +€7,572 | +16.2% |
| Fixed assets | 21/28 | €1,057 | €2,914 | +€1,857 | +176% |
| Tangible fixed assets | 22/27 | €1,057 | €2,914 | +€1,857 | +176% |
| Furniture and vehicles | 24 | €1,057 | €2,914 | +€1,857 | +176% |
| Current assets | 29/58 | €45,652 | €51,366 | +€5,714 | +12.5% |
| Amounts receivable after more than one year | 29 | €37,000 | €40,000 | +€3,000 | +8.1% |
| Other amounts receivable | 291 | €37,000 | €40,000 | +€3,000 | +8.1% |
| Amounts receivable within one year | 40/41 | €2,979 | €5,758 | +€2,779 | +93.3% |
| Trade receivables | 40 | €2,979 | €5,758 | +€2,779 | +93.3% |
| Cash at bank and in hand | 54/58 | €5,395 | €5,031 | -€365 | -6.8% |
| Deferred charges and accrued income | 490/1 | €278 | €578 | +€300 | +108% |
| Total equity and liabilities | 10/49 | €46,709 | €54,280 | +€7,572 | +16.2% |
| Equity | 10/15 | €23,983 | €32,063 | +€8,081 | +33.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €22,983 | €22,983 | = | 0.0% |
| Distributable reserves | 133 | €22,983 | €22,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €8,081 | +€8,081 | |
| Amounts payable | 17/49 | €22,726 | €22,217 | -€509 | -2.2% |
| Amounts payable within one year | 42/48 | €22,726 | €22,217 | -€509 | -2.2% |
| Trade debts | 44 | €5,037 | - | -€5,037 | |
| Suppliers | 440/4 | €5,037 | - | -€5,037 | |
| Taxes, remuneration and social security | 45 | €15,645 | €21,400 | +€5,755 | +36.8% |
| Taxes | 450/3 | €15,645 | €19,280 | +€3,635 | +23.2% |
| Remuneration and social security | 454/9 | - | €2,120 | +€2,120 | |
| Other amounts payable | 47/48 | €2,044 | €818 | -€1,227 | -60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194 | €562 | +€368 | +190% |
| Other operating charges | 640/8 | €818 | €570 | -€247 | -30.3% |
| Gross operating margin | 9900 | €39,067 | €15,317 | -€23,750 | -60.8% |
| Operating profit (loss) | 9901 | €38,055 | €14,185 | -€23,871 | -62.7% |
| Financial income | 75/76B | €632 | €0 | -€632 | -100.0% |
| Recurring financial income | 75 | €632 | €0 | -€632 | -100.0% |
| Financial charges | 65/66B | €3,259 | €2,747 | -€512 | -15.7% |
| Recurring financial charges | 65 | €3,259 | €2,747 | -€512 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €35,429 | €11,437 | -€23,991 | -67.7% |
| Income taxes | 67/77 | €12,446 | €3,357 | -€9,089 | -73.0% |
| Profit (loss) for the period | 9904 | €22,983 | €8,081 | -€14,902 | -64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,983 | €8,081 | -€14,902 | -64.8% |
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 15 October 2026 via checked.be.