Marc Kobylinski: 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.
Marc Kobylinski
Largest movements
- Cash +€222,499
up €222,499 (+65.9%), from €337,514 to €560,013
mainly Other debts (+€253,598) and Net result for the year (+€175,795)
- Receivables within one year -€12,386
down €12,386 (-70.2%), from €17,649 to €5,264
- Other debts +€253,598
up €253,598 (+23,240%), from €1,091 to €254,689
- Profit (loss) carried forward -€74,205
down €74,205 (-28.0%), from €264,738 to €190,533
- Tax, wage and social debts +€31,054
up €31,054 (+42.2%), from €73,562 to €104,615
- Gross operating margin +€112,205
up €112,205 (+89.7%), from €125,035 to €237,240
- Taxes +€30,024
up €30,024 (+101%), from €29,627 to €59,651
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 | €362,325 | €571,975 | +€209,650 | +57.9% |
| Fixed assets | 21/28 | €5,711 | €4,034 | -€1,677 | -29.4% |
| Tangible fixed assets | 22/27 | €3,911 | €2,234 | -€1,677 | -42.9% |
| Plant, machinery and equipment | 23 | €452 | €313 | -€139 | -30.8% |
| Furniture and vehicles | 24 | €2,638 | €1,461 | -€1,178 | -44.6% |
| Other tangible fixed assets | 26 | €820 | €460 | -€360 | -43.9% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €356,614 | €567,941 | +€211,327 | +59.3% |
| Amounts receivable within one year | 40/41 | €17,649 | €5,264 | -€12,386 | -70.2% |
| Trade receivables | 40 | €17,649 | €5,264 | -€12,386 | -70.2% |
| Cash at bank and in hand | 54/58 | €337,514 | €560,013 | +€222,499 | +65.9% |
| Deferred charges and accrued income | 490/1 | €1,452 | €2,665 | +€1,214 | +83.6% |
| Total equity and liabilities | 10/49 | €362,325 | €571,975 | +€209,650 | +57.9% |
| Equity | 10/15 | €285,198 | €210,993 | -€74,205 | -26.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,738 | €190,533 | -€74,205 | -28.0% |
| Amounts payable | 17/49 | €77,127 | €360,982 | +€283,855 | +368% |
| Amounts payable within one year | 42/48 | €77,127 | €360,982 | +€283,855 | +368% |
| Financial debts | 43 | €2,474 | €394 | -€2,081 | -84.1% |
| Credit institutions | 430/8 | €2,474 | €394 | -€2,081 | -84.1% |
| Trade debts | 44 | - | €1,284 | +€1,284 | |
| Suppliers | 440/4 | - | €1,284 | +€1,284 | |
| Taxes, remuneration and social security | 45 | €73,562 | €104,615 | +€31,054 | +42.2% |
| Taxes | 450/3 | €73,562 | €104,615 | +€31,054 | +42.2% |
| Other amounts payable | 47/48 | €1,091 | €254,689 | +€253,598 | +23,240% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,444 | €1,677 | +€233 | +16.1% |
| Gross operating margin | 9900 | €125,035 | €237,240 | +€112,205 | +89.7% |
| Operating profit (loss) | 9901 | €123,591 | €235,563 | +€111,972 | +90.6% |
| Financial income | 75/76B | €671 | €490 | -€181 | -27.0% |
| Recurring financial income | 75 | €671 | €490 | -€181 | -27.0% |
| Financial charges | 65/66B | €156 | €607 | +€451 | +289% |
| Recurring financial charges | 65 | €156 | €607 | +€451 | +289% |
| Profit (loss) for the period before taxes | 9903 | €124,105 | €235,446 | +€111,340 | +89.7% |
| Income taxes | 67/77 | €29,627 | €59,651 | +€30,024 | +101% |
| Profit (loss) for the period | 9904 | €94,479 | €175,795 | +€81,316 | +86.1% |
| Profit (loss) for the period to be appropriated | 9905 | €94,479 | €175,795 | +€81,316 | +86.1% |
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 29 October 2026 via checked.be.