PROF. DR. B. SCHMELZER: 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.
PROF. DR. B. SCHMELZER
Largest movements
- Cash -€162,124
down €162,124 (-41.8%), from €387,702 to €225,578
mainly Contributions, distributions and other (-€194,048) and Other debts (-€29,004)
- Reserves -€133,278
down €133,278 (-42.9%), from €311,013 to €177,736
of which Distributable reserves: -€133,278
- Other debts -€29,004
down €29,004 (-36.3%), from €79,882 to €50,878
- Taxes +€6,682
up €6,682 (+29.3%), from €22,828 to €29,510
- Gross operating margin -€5,351
down €5,351 (-5.5%), from €97,395 to €92,044
- Depreciation -€1,280
down €1,280 (-54.0%), from €2,369 to €1,089
- Financial income +€992
up €992 (+158%), from €628 to €1,620
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 | €416,747 | €254,251 | -€162,496 | -39.0% |
| Fixed assets | 21/28 | €2,767 | €1,677 | -€1,089 | -39.4% |
| Tangible fixed assets | 22/27 | €2,767 | €1,677 | -€1,089 | -39.4% |
| Plant, machinery and equipment | 23 | €868 | €96 | -€773 | -89.0% |
| Other tangible fixed assets | 26 | €1,898 | €1,582 | -€317 | -16.7% |
| Current assets | 29/58 | €413,980 | €252,574 | -€161,406 | -39.0% |
| Amounts receivable within one year | 40/41 | €23,572 | €24,184 | +€612 | +2.6% |
| Trade receivables | 40 | €10,048 | €17,528 | +€7,480 | +74.4% |
| Other amounts receivable | 41 | €13,524 | €6,656 | -€6,868 | -50.8% |
| Cash at bank and in hand | 54/58 | €387,702 | €225,578 | -€162,124 | -41.8% |
| Deferred charges and accrued income | 490/1 | €2,706 | €2,812 | +€106 | +3.9% |
| Total equity and liabilities | 10/49 | €416,747 | €254,251 | -€162,496 | -39.0% |
| Equity | 10/15 | €329,613 | €196,336 | -€133,278 | -40.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €311,013 | €177,736 | -€133,278 | -42.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €309,153 | €175,876 | -€133,278 | -43.1% |
| Amounts payable | 17/49 | €87,134 | €57,915 | -€29,218 | -33.5% |
| Amounts payable within one year | 42/48 | €86,585 | €56,849 | -€29,736 | -34.3% |
| Trade debts | 44 | €2,499 | €2,433 | -€65 | -2.6% |
| Suppliers | 440/4 | €2,499 | €2,433 | -€65 | -2.6% |
| Taxes, remuneration and social security | 45 | €4,204 | €3,537 | -€667 | -15.9% |
| Taxes | 450/3 | €4,204 | €3,537 | -€667 | -15.9% |
| Other amounts payable | 47/48 | €79,882 | €50,878 | -€29,004 | -36.3% |
| Accrued charges and deferred income | 492/3 | €549 | €1,067 | +€518 | +94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,369 | €1,089 | -€1,280 | -54.0% |
| Other operating charges | 640/8 | €1,206 | €1,241 | +€35 | +2.9% |
| Gross operating margin | 9900 | €97,395 | €92,044 | -€5,351 | -5.5% |
| Operating profit (loss) | 9901 | €93,820 | €89,713 | -€4,107 | -4.4% |
| Financial income | 75/76B | €628 | €1,620 | +€992 | +158% |
| Recurring financial income | 75 | €628 | €1,620 | +€992 | +158% |
| Financial charges | 65/66B | €1,615 | €1,052 | -€564 | -34.9% |
| Recurring financial charges | 65 | €1,615 | €1,052 | -€564 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | €92,832 | €90,281 | -€2,551 | -2.7% |
| Income taxes | 67/77 | €22,828 | €29,510 | +€6,682 | +29.3% |
| Profit (loss) for the period | 9904 | €70,004 | €60,771 | -€9,233 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €70,004 | €60,771 | -€9,233 | -13.2% |
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 26 October 2026 via checked.be.