Mithun Varghese: 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.
Mithun Varghese
Largest movements
- Receivables within one year -€39,837
down €39,837 (-66.0%), from €60,327 to €20,490
- Cash -€16,734
down €16,734 (-96.4%), from €17,351 to €617
mainly Trade debts (-€16,774) and Net result for the year (-€15,523)
- Tangible fixed assets +€5,756
up €5,756 (+51.7%), from €11,143 to €16,899
of which Furniture and vehicles: +€5,667
- Trade debts -€16,774
no longer reported in 2025 (was €16,774)
- Profit (loss) carried forward -€15,523
down €15,523 (-40.3%), from €38,529 to €23,006
- Tax, wage and social debts -€13,295
no longer reported in 2025 (was €13,295)
- Short-term financial debts -€5,222
no longer reported in 2025 (was €5,222)
- Gross operating margin +€2,637
up €2,637 (+37.3%), from -€7,065 to -€4,428
- Financial charges +€2,203
up €2,203 (+116%), from €1,892 to €4,095
- Depreciation +€1,176
up €1,176 (+33.1%), from €3,556 to €4,732
- Taxes +€1,115
up €1,115 (+773%), from €144 to €1,259
- Other operating charges +€519
up €519 (+104%), from €497 to €1,016
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 | €88,821 | €38,006 | -€50,814 | -57.2% |
| Fixed assets | 21/28 | €11,143 | €16,899 | +€5,756 | +51.7% |
| Tangible fixed assets | 22/27 | €11,143 | €16,899 | +€5,756 | +51.7% |
| Land and buildings | 22 | €506 | €607 | +€101 | +20.0% |
| Plant, machinery and equipment | 23 | €2,526 | €2,515 | -€12 | -0.5% |
| Furniture and vehicles | 24 | €8,111 | €13,777 | +€5,667 | +69.9% |
| Current assets | 29/58 | €77,678 | €21,107 | -€56,570 | -72.8% |
| Amounts receivable within one year | 40/41 | €60,327 | €20,490 | -€39,837 | -66.0% |
| Other amounts receivable | 41 | €60,327 | €20,490 | -€39,837 | -66.0% |
| Cash at bank and in hand | 54/58 | €17,351 | €617 | -€16,734 | -96.4% |
| Total equity and liabilities | 10/49 | €88,821 | €38,006 | -€50,814 | -57.2% |
| Equity | 10/15 | €53,529 | €38,006 | -€15,523 | -29.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,529 | €23,006 | -€15,523 | -40.3% |
| Amounts payable | 17/49 | €35,291 | - | -€35,291 | |
| Amounts payable within one year | 42/48 | €35,291 | - | -€35,291 | |
| Financial debts | 43 | €5,222 | - | -€5,222 | |
| Credit institutions | 430/8 | €5,222 | - | -€5,222 | |
| Trade debts | 44 | €16,774 | - | -€16,774 | |
| Suppliers | 440/4 | €16,774 | - | -€16,774 | |
| Taxes, remuneration and social security | 45 | €13,295 | - | -€13,295 | |
| Taxes | 450/3 | €13,295 | - | -€13,295 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,556 | €4,732 | +€1,176 | +33.1% |
| Other operating charges | 640/8 | €497 | €1,016 | +€519 | +104% |
| Gross operating margin | 9900 | -€7,065 | -€4,428 | +€2,637 | +37.3% |
| Operating profit (loss) | 9901 | -€11,118 | -€10,177 | +€941 | +8.5% |
| Financial income | 75/76B | €0 | €8 | +€8 | +80,900% |
| Recurring financial income | 75 | €0 | €8 | +€8 | +80,900% |
| Financial charges | 65/66B | €1,892 | €4,095 | +€2,203 | +116% |
| Recurring financial charges | 65 | €1,892 | €4,095 | +€2,203 | +116% |
| Profit (loss) for the period before taxes | 9903 | -€13,010 | -€14,264 | -€1,253 | -9.6% |
| Income taxes | 67/77 | €144 | €1,259 | +€1,115 | +773% |
| Profit (loss) for the period | 9904 | -€13,155 | -€15,523 | -€2,368 | -18.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,155 | -€15,523 | -€2,368 | -18.0% |
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 21 October 2026 via checked.be.