EU R&D CONSULTING: 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.
EU R&D CONSULTING
Largest movements
- Receivables within one year -€31,993
down €31,993 (-18.3%), from €174,429 to €142,436
of which Other amounts receivable: -€18,562
- Intangible fixed assets -€2,021
no longer reported in 2025 (was €2,021)
- Tax, wage and social debts -€39,189
no longer reported in 2025 (was €39,189)
- Short-term financial debts +€8,532
up €8,532 (+81.3%), from €10,493 to €19,025
- Reserves -€3,561
down €3,561 (-2.8%), from €126,872 to €123,311
of which Distributable reserves: -€3,561
- Trade debts -€2,081
no longer reported in 2025 (was €2,081)
- Gross operating margin -€63,955
down €63,955, from €62,640 to -€1,316
- Taxes -€21,760
down €21,760, from €21,759 to -€0
- Financial charges +€8,170
up €8,170 (+1,933%), from €423 to €8,592
- Financial income +€1,154
up €1,154 (+14.5%), from €7,942 to €9,095
- Depreciation -€1,075
no longer reported in 2025 (was €1,075)
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 | €178,735 | €142,436 | -€36,300 | -20.3% |
| Fixed assets | 21/28 | €2,548 | - | -€2,548 | |
| Intangible fixed assets | 21 | €2,021 | - | -€2,021 | |
| Tangible fixed assets | 22/27 | €527 | - | -€527 | |
| Furniture and vehicles | 24 | €527 | - | -€527 | |
| Current assets | 29/58 | €176,187 | €142,436 | -€33,751 | -19.2% |
| Amounts receivable within one year | 40/41 | €174,429 | €142,436 | -€31,993 | -18.3% |
| Trade receivables | 40 | €13,431 | - | -€13,431 | |
| Other amounts receivable | 41 | €160,998 | €142,436 | -€18,562 | -11.5% |
| Cash at bank and in hand | 54/58 | €1,165 | - | -€1,165 | |
| Deferred charges and accrued income | 490/1 | €593 | - | -€593 | |
| Total equity and liabilities | 10/49 | €178,735 | €142,436 | -€36,300 | -20.3% |
| Equity | 10/15 | €126,972 | €123,411 | -€3,561 | -2.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €126,872 | €123,311 | -€3,561 | -2.8% |
| Non-distributable reserves | 130/1 | €10 | €10 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10 | €10 | = | 0.0% |
| Distributable reserves | 133 | €126,862 | €123,301 | -€3,561 | -2.8% |
| Amounts payable | 17/49 | €51,764 | €19,025 | -€32,738 | -63.2% |
| Amounts payable within one year | 42/48 | €51,764 | €19,025 | -€32,738 | -63.2% |
| Financial debts | 43 | €10,493 | €19,025 | +€8,532 | +81.3% |
| Credit institutions | 430/8 | €10,493 | €19,025 | +€8,532 | +81.3% |
| Trade debts | 44 | €2,081 | - | -€2,081 | |
| Suppliers | 440/4 | €2,081 | - | -€2,081 | |
| Taxes, remuneration and social security | 45 | €39,189 | - | -€39,189 | |
| Taxes | 450/3 | €39,189 | - | -€39,189 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,075 | - | -€1,075 | |
| Other operating charges | 640/8 | €424 | €601 | +€177 | +41.8% |
| Non-recurring operating charges | 66A | €1,130 | €2,148 | +€1,019 | +90.2% |
| Gross operating margin | 9900 | €62,640 | -€1,316 | -€63,955 | |
| Operating profit (loss) | 9901 | €60,011 | -€4,064 | -€64,075 | |
| Financial income | 75/76B | €7,942 | €9,095 | +€1,154 | +14.5% |
| Recurring financial income | 75 | €7,942 | €9,095 | +€1,154 | +14.5% |
| Financial charges | 65/66B | €423 | €8,592 | +€8,170 | +1,933% |
| Recurring financial charges | 65 | €423 | €8,592 | +€8,170 | +1,933% |
| Profit (loss) for the period before taxes | 9903 | €67,530 | -€3,561 | -€71,091 | |
| Income taxes | 67/77 | €21,759 | -€0 | -€21,760 | |
| Profit (loss) for the period | 9904 | €45,771 | -€3,561 | -€49,332 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,771 | -€3,561 | -€49,332 |
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 1 November 2026 via checked.be.