Inês Ramos: 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.
Inês Ramos
Largest movements
- Cash +€23,694
up €23,694 (+12.3%), from €192,591 to €216,284
mainly Net result for the year (+€42,901) and Accrued charges and deferred income (+€2,700)
- Receivables within one year +€4,866
new in 2025: €4,866
- Reserves +€42,900
up €42,900 (+65.2%), from €65,777 to €108,677
- Tax, wage and social debts -€20,536
down €20,536 (-41.4%), from €49,653 to €29,117
of which Taxes: -€14,569
- Accrued charges and deferred income +€2,700
new in 2025: €2,700
- Trade debts +€2,446
up €2,446 (+180.7%), from €1,353 to €3,799
- Gross operating margin -€28,412
down €28,412 (-30.2%), from €94,048 to €65,636
- Taxes -€7,854
down €7,854 (-30.5%), from €25,744 to €17,890
- Financial charges +€2,170
up €2,170 (+122.5%), from €1,772 to €3,942
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.
Cash bridge derived
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 | €194,975 | €222,485 | +€27,510 | +14.1% |
| Fixed assets | 21/28 | €2,385 | €1,335 | -€1,049 | -44.0% |
| Tangible fixed assets | 22/27 | €2,385 | €1,335 | -€1,049 | -44.0% |
| Furniture and vehicles | 24 | €2,385 | €1,335 | -€1,049 | -44.0% |
| Current assets | 29/58 | €192,591 | €221,150 | +€28,560 | +14.8% |
| Amounts receivable within one year | 40/41 | - | €4,866 | +€4,866 | |
| Other amounts receivable | 41 | - | €4,866 | +€4,866 | |
| Cash at bank and in hand | 54/58 | €192,591 | €216,284 | +€23,694 | +12.3% |
| Total equity and liabilities | 10/49 | €194,975 | €222,485 | +€27,510 | +14.1% |
| Equity | 10/15 | €143,969 | €186,870 | +€42,901 | +29.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €65,777 | €108,677 | +€42,900 | +65.2% |
| Distributable reserves | 133 | €65,777 | €108,677 | +€42,900 | +65.2% |
| Profit (loss) carried forward | 14 | €63,192 | €63,194 | +€1 | 0.0% |
| Amounts payable | 17/49 | €51,006 | €35,615 | -€15,391 | -30.2% |
| Amounts payable within one year | 42/48 | €51,006 | €32,916 | -€18,091 | -35.5% |
| Trade debts | 44 | €1,353 | €3,799 | +€2,446 | +180.7% |
| Suppliers | 440/4 | €1,353 | €3,799 | +€2,446 | +180.7% |
| Taxes, remuneration and social security | 45 | €49,653 | €29,117 | -€20,536 | -41.4% |
| Taxes | 450/3 | €43,686 | €29,117 | -€14,569 | -33.3% |
| Remuneration and social security | 454/9 | €5,967 | - | -€5,967 | |
| Accrued charges and deferred income | 492/3 | - | €2,700 | +€2,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €755 | €1,049 | +€295 | +39.0% |
| Gross operating margin | 9900 | €94,048 | €65,636 | -€28,412 | -30.2% |
| Operating profit (loss) | 9901 | €93,293 | €64,586 | -€28,706 | -30.8% |
| Financial income | 75/76B | - | €147 | +€147 | |
| Recurring financial income | 75 | - | €147 | +€147 | |
| Financial charges | 65/66B | €1,772 | €3,942 | +€2,170 | +122.5% |
| Recurring financial charges | 65 | €1,772 | €3,942 | +€2,170 | +122.5% |
| Profit (loss) for the period before taxes | 9903 | €91,520 | €60,791 | -€30,729 | -33.6% |
| Income taxes | 67/77 | €25,744 | €17,890 | -€7,854 | -30.5% |
| Profit (loss) for the period | 9904 | €65,777 | €42,901 | -€22,875 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €65,777 | €42,901 | -€22,875 | -34.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.