Katja Wagner: 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.
Katja Wagner
Largest movements
- Tangible fixed assets -€12,470
down €12,470 (-8.7%), from €143,464 to €130,994
of which Furniture and vehicles: -€8,293
- Cash +€12,462
up €12,462 (+20.8%), from €59,957 to €72,419
mainly Net result for the year (+€16,978) and Depreciation (+€16,420)
- Reserves +€16,000
up €16,000 (+145%), from €11,000 to €27,000
- Debts after one year -€11,503
down €11,503 (-12.6%), from €91,388 to €79,885
- Tax, wage and social debts -€4,065
down €4,065 (-15.0%), from €27,074 to €23,009
of which Remuneration and social security: -€4,910
- Gross operating margin +€8,224
up €8,224 (+8.8%), from €93,331 to €101,555
- Taxes +€3,114
up €3,114 (+346%), from €900 to €4,014
- Staff costs -€2,499
down €2,499 (-4.3%), from €58,332 to €55,833
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 | €217,190 | €215,403 | -€1,787 | -0.8% |
| Fixed assets | 21/28 | €144,795 | €132,326 | -€12,470 | -8.6% |
| Tangible fixed assets | 22/27 | €143,464 | €130,994 | -€12,470 | -8.7% |
| Land and buildings | 22 | €127,835 | €121,222 | -€6,613 | -5.2% |
| Plant, machinery and equipment | 23 | €1,811 | €4,248 | +€2,436 | +135% |
| Furniture and vehicles | 24 | €13,817 | €5,524 | -€8,293 | -60.0% |
| Financial fixed assets | 28 | €1,332 | €1,332 | = | 0.0% |
| Current assets | 29/58 | €72,395 | €83,077 | +€10,682 | +14.8% |
| Stocks and contracts in progress | 3 | €11,404 | €9,601 | -€1,803 | -15.8% |
| Stocks | 30/36 | €11,404 | €9,601 | -€1,803 | -15.8% |
| Cash at bank and in hand | 54/58 | €59,957 | €72,419 | +€12,462 | +20.8% |
| Deferred charges and accrued income | 490/1 | €1,034 | €1,057 | +€23 | +2.2% |
| Total equity and liabilities | 10/49 | €217,190 | €215,403 | -€1,787 | -0.8% |
| Equity | 10/15 | €52,829 | €69,808 | +€16,978 | +32.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €11,000 | €27,000 | +€16,000 | +145% |
| Distributable reserves | 133 | €11,000 | €27,000 | +€16,000 | +145% |
| Profit (loss) carried forward | 14 | €21,829 | €22,808 | +€978 | +4.5% |
| Amounts payable | 17/49 | €164,361 | €145,595 | -€18,766 | -11.4% |
| Amounts payable after more than one year | 17 | €91,388 | €79,885 | -€11,503 | -12.6% |
| Financial debts | 170/4 | €91,388 | €79,885 | -€11,503 | -12.6% |
| Amounts payable within one year | 42/48 | €71,153 | €63,890 | -€7,263 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €11,503 | €11,503 | = | 0.0% |
| Trade debts | 44 | €1,913 | €865 | -€1,048 | -54.8% |
| Suppliers | 440/4 | €1,913 | €865 | -€1,048 | -54.8% |
| Taxes, remuneration and social security | 45 | €27,074 | €23,009 | -€4,065 | -15.0% |
| Taxes | 450/3 | €16,904 | €17,748 | +€845 | +5.0% |
| Remuneration and social security | 454/9 | €10,171 | €5,261 | -€4,910 | -48.3% |
| Other amounts payable | 47/48 | €30,662 | €28,513 | -€2,149 | -7.0% |
| Accrued charges and deferred income | 492/3 | €1,820 | €1,820 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €58,332 | €55,833 | -€2,499 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,262 | €16,420 | +€157 | +1.0% |
| Other operating charges | 640/8 | €1,971 | €2,029 | +€57 | +2.9% |
| Gross operating margin | 9900 | €93,331 | €101,555 | +€8,224 | +8.8% |
| Operating profit (loss) | 9901 | €16,766 | €27,273 | +€10,508 | +62.7% |
| Financial income | 75/76B | €2 | €3 | +€0 | +12.9% |
| Recurring financial income | 75 | €2 | €3 | +€0 | +12.9% |
| Financial charges | 65/66B | €6,812 | €6,284 | -€528 | -7.8% |
| Recurring financial charges | 65 | €6,812 | €6,284 | -€528 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €9,956 | €20,992 | +€11,036 | +111% |
| Income taxes | 67/77 | €900 | €4,014 | +€3,114 | +346% |
| Profit (loss) for the period | 9904 | €9,056 | €16,978 | +€7,923 | +87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,056 | €16,978 | +€7,923 | +87.5% |
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 22 October 2026 via checked.be.