Maria Fonseca: 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.
Maria Fonseca
Largest movements
- Tangible fixed assets +€27,102
new in 2025: €27,102
- Cash +€15,176
up €15,176 (+25.3%), from €59,877 to €75,053
mainly Net result for the year (+€38,051) and Debts after one year (+€13,227)
- Current investments +€15,000
new in 2025: €15,000
- Receivables within one year +€2,039
up €2,039 (+22.6%), from €9,008 to €11,048
of which Other amounts receivable: +€1,811
- Reserves +€38,051
up €38,051 (+67.1%), from €56,702 to €94,753
- Debts after one year +€13,227
new in 2025: €13,227
- Current portion of long-term debt +€4,816
new in 2025: €4,816
- Tax, wage and social debts +€3,979
up €3,979 (+77.1%), from €5,162 to €9,141
- Gross operating margin -€14,939
down €14,939 (-20.8%), from €71,817 to €56,878
- Depreciation +€3,034
new in 2025: €3,034
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 | €68,886 | €128,873 | +€59,987 | +87.1% |
| Fixed assets | 21/28 | - | €27,102 | +€27,102 | |
| Tangible fixed assets | 22/27 | - | €27,102 | +€27,102 | |
| Furniture and vehicles | 24 | - | €27,102 | +€27,102 | |
| Current assets | 29/58 | €68,886 | €101,771 | +€32,885 | +47.7% |
| Amounts receivable within one year | 40/41 | €9,008 | €11,048 | +€2,039 | +22.6% |
| Trade receivables | 40 | €8,645 | €8,874 | +€229 | +2.6% |
| Other amounts receivable | 41 | €363 | €2,173 | +€1,811 | +499% |
| Current investments | 50/53 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €59,877 | €75,053 | +€15,176 | +25.3% |
| Deferred charges and accrued income | 490/1 | - | €670 | +€670 | |
| Total equity and liabilities | 10/49 | €68,886 | €128,873 | +€59,987 | +87.1% |
| Equity | 10/15 | €61,702 | €99,753 | +€38,051 | +61.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €56,702 | €94,753 | +€38,051 | +67.1% |
| Distributable reserves | 133 | €56,702 | €94,753 | +€38,051 | +67.1% |
| Amounts payable | 17/49 | €7,184 | €29,120 | +€21,936 | +305% |
| Amounts payable after more than one year | 17 | - | €13,227 | +€13,227 | |
| Financial debts | 170/4 | - | €13,227 | +€13,227 | |
| Amounts payable within one year | 42/48 | €7,184 | €15,893 | +€8,709 | +121% |
| Current portion of amounts payable after more than one year | 42 | - | €4,816 | +€4,816 | |
| Trade debts | 44 | €2,021 | €1,900 | -€121 | -6.0% |
| Suppliers | 440/4 | €2,021 | €1,900 | -€121 | -6.0% |
| Taxes, remuneration and social security | 45 | €5,162 | €9,141 | +€3,979 | +77.1% |
| Taxes | 450/3 | €5,162 | €9,141 | +€3,979 | +77.1% |
| Other amounts payable | 47/48 | - | €36 | +€36 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,034 | +€3,034 | |
| Other operating charges | 640/8 | €370 | €439 | +€69 | +18.8% |
| Gross operating margin | 9900 | €71,817 | €56,878 | -€14,939 | -20.8% |
| Operating profit (loss) | 9901 | €71,447 | €53,404 | -€18,043 | -25.3% |
| Financial income | 75/76B | - | €149 | +€149 | |
| Recurring financial income | 75 | - | €149 | +€149 | |
| Financial charges | 65/66B | €51 | €525 | +€474 | +935% |
| Recurring financial charges | 65 | €51 | €525 | +€474 | +935% |
| Profit (loss) for the period before taxes | 9903 | €71,396 | €53,028 | -€18,368 | -25.7% |
| Income taxes | 67/77 | €14,694 | €14,977 | +€283 | +1.9% |
| Profit (loss) for the period | 9904 | €56,702 | €38,051 | -€18,651 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €56,702 | €38,051 | -€18,651 | -32.9% |
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 24 October 2026 via checked.be.