MY - MANAGEMENT: 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.
MY - MANAGEMENT
Largest movements
- Receivables within one year -€326,773
no longer reported in 2025 (was €326,773)
of which Other amounts receivable: -€300,000
- Current investments -€255,584
down €255,584 (-8.4%), from €3.0m to €2.8m
- Cash +€247,055
up €247,055 (+131%), from €188,554 to €435,609
mainly Receivables within one year (+€326,773) and Current investments (+€255,584)
- Reserves -€410,000
down €410,000 (-13.9%), from €3.0m to €2.5m
of which Distributable reserves: -€410,000
- Other debts +€75,000
up €75,000 (+13.2%), from €570,000 to €645,000
- Financial income -€729,120
down €729,120 (-60.0%), from €1.2m to €485,222
- Gross operating margin -€68,328
down €68,328 (-65.7%), from €104,045 to €35,717
- Taxes -€47,352
down €47,352 (-31.3%), from €151,253 to €103,901
- Depreciation -€10,956
down €10,956 (-28.8%), from €38,072 to €27,116
- Staff costs +€4,661
up €4,661 (+6.3%), from €73,616 to €78,277
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 | €3,900,025 | €3,529,660 | -€370,365 | -9.5% |
| Fixed assets | 21/28 | €332,849 | €306,967 | -€25,883 | -7.8% |
| Tangible fixed assets | 22/27 | €86,742 | €60,860 | -€25,883 | -29.8% |
| Furniture and vehicles | 24 | €3,292 | €2,603 | -€689 | -20.9% |
| Leasing and similar rights | 25 | €83,451 | €58,257 | -€25,194 | -30.2% |
| Financial fixed assets | 28 | €246,107 | €246,107 | = | 0.0% |
| Current assets | 29/58 | €3,567,176 | €3,222,693 | -€344,482 | -9.7% |
| Amounts receivable within one year | 40/41 | €326,773 | - | -€326,773 | |
| Trade receivables | 40 | €26,773 | - | -€26,773 | |
| Other amounts receivable | 41 | €300,000 | - | -€300,000 | |
| Current investments | 50/53 | €3,033,425 | €2,777,842 | -€255,584 | -8.4% |
| Cash at bank and in hand | 54/58 | €188,554 | €435,609 | +€247,055 | +131% |
| Deferred charges and accrued income | 490/1 | €18,424 | €9,242 | -€9,181 | -49.8% |
| Total equity and liabilities | 10/49 | €3,900,025 | €3,529,660 | -€370,365 | -9.5% |
| Equity | 10/15 | €3,122,341 | €2,713,858 | -€408,484 | -13.1% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €2,950,200 | €2,540,200 | -€410,000 | -13.9% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Distributable reserves | 133 | €2,934,000 | €2,524,000 | -€410,000 | -14.0% |
| Profit (loss) carried forward | 14 | €10,141 | €11,658 | +€1,516 | +15.0% |
| Amounts payable | 17/49 | €777,684 | €815,802 | +€38,119 | +4.9% |
| Amounts payable after more than one year | 17 | €37,081 | €11,576 | -€25,506 | -68.8% |
| Financial debts | 170/4 | €37,081 | €11,576 | -€25,506 | -68.8% |
| Amounts payable within one year | 42/48 | €740,349 | €804,175 | +€63,826 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €24,510 | €25,506 | +€996 | +4.1% |
| Trade debts | 44 | €2,870 | €4,142 | +€1,272 | +44.3% |
| Suppliers | 440/4 | €2,870 | €4,142 | +€1,272 | +44.3% |
| Taxes, remuneration and social security | 45 | €142,969 | €129,528 | -€13,441 | -9.4% |
| Taxes | 450/3 | €133,295 | €119,086 | -€14,209 | -10.7% |
| Remuneration and social security | 454/9 | €9,674 | €10,442 | +€768 | +7.9% |
| Other amounts payable | 47/48 | €570,000 | €645,000 | +€75,000 | +13.2% |
| Accrued charges and deferred income | 492/3 | €253 | €51 | -€202 | -79.7% |
| Remuneration, social security and pensions | 62 | €73,616 | €78,277 | +€4,661 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,072 | €27,116 | -€10,956 | -28.8% |
| Other operating charges | 640/8 | €3,247 | €2,018 | -€1,230 | -37.9% |
| Gross operating margin | 9900 | €104,045 | €35,717 | -€68,328 | -65.7% |
| Operating profit (loss) | 9901 | -€10,890 | -€71,693 | -€60,804 | -558% |
| Financial income | 75/76B | €1,214,342 | €485,222 | -€729,120 | -60.0% |
| Recurring financial income | 75 | €1,214,342 | €485,222 | -€729,120 | -60.0% |
| Financial charges | 65/66B | €75,244 | €73,111 | -€2,133 | -2.8% |
| Recurring financial charges | 65 | €75,244 | €73,111 | -€2,133 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €1,128,209 | €340,417 | -€787,791 | -69.8% |
| Income taxes | 67/77 | €151,253 | €103,901 | -€47,352 | -31.3% |
| Profit (loss) for the period | 9904 | €976,956 | €236,516 | -€740,439 | -75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €976,956 | €236,516 | -€740,439 | -75.8% |
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 15 October 2026 via checked.be.