KATYA RUSSELL: 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.
KATYA RUSSELL
Largest movements
- Receivables within one year -€31,000
down €31,000 (-56.2%), from €55,172 to €24,172
- Cash +€11,269
up €11,269 (+42.5%), from €26,503 to €37,772
mainly Receivables within one year (+€31,000) and Net result for the year (+€18,534)
- Deferred charges and accrued income +€2,110
up €2,110 (+10.6%), from €19,832 to €21,942
- Tangible fixed assets -€1,303
down €1,303 (-8.9%), from €14,623 to €13,319
of which Plant, machinery and equipment: -€1,907
- Reserves -€14,043
down €14,043 (-18.2%), from €77,176 to €63,133
- Other debts -€7,568
down €7,568 (-99.6%), from €7,595 to €27
- Tax, wage and social debts +€2,925
up €2,925 (+24.2%), from €12,070 to €14,995
of which Taxes: +€3,925
- Accrued charges and deferred income +€2,590
new in 2025: €2,590
- Current portion of long-term debt -€2,356
down €2,356 (-58.0%), from €4,059 to €1,703
- Taxes +€8,575
up €8,575 (+194%), from €4,421 to €12,995
- Gross operating margin +€6,560
up €6,560 (+20.2%), from €32,541 to €39,101
- Other operating charges -€943
down €943 (-24.4%), from €3,869 to €2,925
- Financial charges +€439
up €439 (+25.4%), from €1,724 to €2,163
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 | €116,195 | €97,271 | -€18,924 | -16.3% |
| Fixed assets | 21/28 | €14,689 | €13,385 | -€1,303 | -8.9% |
| Tangible fixed assets | 22/27 | €14,623 | €13,319 | -€1,303 | -8.9% |
| Plant, machinery and equipment | 23 | €12,744 | €10,836 | -€1,907 | -15.0% |
| Furniture and vehicles | 24 | €1,879 | €2,483 | +€604 | +32.1% |
| Financial fixed assets | 28 | €66 | €66 | = | 0.0% |
| Current assets | 29/58 | €101,507 | €83,886 | -€17,621 | -17.4% |
| Amounts receivable within one year | 40/41 | €55,172 | €24,172 | -€31,000 | -56.2% |
| Other amounts receivable | 41 | €55,172 | €24,172 | -€31,000 | -56.2% |
| Cash at bank and in hand | 54/58 | €26,503 | €37,772 | +€11,269 | +42.5% |
| Deferred charges and accrued income | 490/1 | €19,832 | €21,942 | +€2,110 | +10.6% |
| Total equity and liabilities | 10/49 | €116,195 | €97,271 | -€18,924 | -16.3% |
| Equity | 10/15 | €89,674 | €75,665 | -€14,009 | -15.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €77,176 | €63,133 | -€14,043 | -18.2% |
| Distributable reserves | 133 | €77,176 | €63,133 | -€14,043 | -18.2% |
| Profit (loss) carried forward | 14 | €98 | €132 | +€34 | +34.8% |
| Amounts payable | 17/49 | €26,522 | €21,606 | -€4,915 | -18.5% |
| Amounts payable after more than one year | 17 | €1,703 | - | -€1,703 | |
| Financial debts | 170/4 | €1,703 | - | -€1,703 | |
| Amounts payable within one year | 42/48 | €24,818 | €19,016 | -€5,802 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €4,059 | €1,703 | -€2,356 | -58.0% |
| Financial debts | 43 | - | €222 | +€222 | |
| Credit institutions | 430/8 | - | €222 | +€222 | |
| Trade debts | 44 | €1,094 | €2,068 | +€974 | +89.0% |
| Suppliers | 440/4 | €1,094 | €2,068 | +€974 | +89.0% |
| Taxes, remuneration and social security | 45 | €12,070 | €14,995 | +€2,925 | +24.2% |
| Taxes | 450/3 | €6,899 | €10,824 | +€3,925 | +56.9% |
| Remuneration and social security | 454/9 | €5,171 | €4,171 | -€1,000 | -19.3% |
| Other amounts payable | 47/48 | €7,595 | €27 | -€7,568 | -99.6% |
| Accrued charges and deferred income | 492/3 | - | €2,590 | +€2,590 | |
| Non-recurring operating income | 76A | €15,449 | - | -€15,449 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,271 | €2,520 | +€249 | +11.0% |
| Other operating charges | 640/8 | €3,869 | €2,925 | -€943 | -24.4% |
| Gross operating margin | 9900 | €32,541 | €39,101 | +€6,560 | +20.2% |
| Operating profit (loss) | 9901 | €26,401 | €33,655 | +€7,254 | +27.5% |
| Financial income | 75/76B | €3 | €37 | +€34 | +1,130% |
| Recurring financial income | 75 | €3 | €37 | +€34 | +1,130% |
| Financial charges | 65/66B | €1,724 | €2,163 | +€439 | +25.4% |
| Recurring financial charges | 65 | €1,724 | €2,163 | +€439 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €24,680 | €31,530 | +€6,849 | +27.8% |
| Income taxes | 67/77 | €4,421 | €12,995 | +€8,575 | +194% |
| Profit (loss) for the period | 9904 | €20,259 | €18,534 | -€1,725 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,259 | €18,534 | -€1,725 | -8.5% |
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 25 October 2026 via checked.be.