Raphaella Deuringer: 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.
Raphaella Deuringer
Largest movements
- Receivables within one year +€9,441
up €9,441 (+67.4%), from €14,005 to €23,445
of which Trade receivables: +€10,989
- Cash +€680
up €680 (+2.5%), from €27,108 to €27,788
mainly Other debts (+€20,870) and Net result for the year (+€10,940)
- Other debts +€20,870
up €20,870 (+86.2%), from €24,212 to €45,083
- Profit (loss) carried forward -€13,151
no longer reported in 2025 (was €13,151)
- Accrued charges and deferred income +€1,289
up €1,289 (+645%), from €200 to €1,489
- Tax, wage and social debts +€1,005
up €1,005 (+31.6%), from €3,180 to €4,184
- Gross operating margin -€2,130
down €2,130 (-10.7%), from €19,823 to €17,693
- Financial charges +€1,249
up €1,249 (+245%), from €509 to €1,758
- Taxes -€619
down €619 (-14.6%), from €4,238 to €3,619
- Other operating charges +€225
up €225 (+66.5%), from €339 to €564
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 | €43,043 | €53,087 | +€10,044 | +23.3% |
| Fixed assets | 21/28 | €1,930 | €1,725 | -€205 | -10.6% |
| Tangible fixed assets | 22/27 | €1,930 | €1,725 | -€205 | -10.6% |
| Furniture and vehicles | 24 | €1,930 | €1,725 | -€205 | -10.6% |
| Current assets | 29/58 | €41,113 | €51,362 | +€10,250 | +24.9% |
| Amounts receivable within one year | 40/41 | €14,005 | €23,445 | +€9,441 | +67.4% |
| Trade receivables | 40 | €11,076 | €22,064 | +€10,989 | +99.2% |
| Other amounts receivable | 41 | €2,929 | €1,381 | -€1,548 | -52.9% |
| Cash at bank and in hand | 54/58 | €27,108 | €27,788 | +€680 | +2.5% |
| Deferred charges and accrued income | 490/1 | - | €129 | +€129 | |
| Total equity and liabilities | 10/49 | €43,043 | €53,087 | +€10,044 | +23.3% |
| Equity | 10/15 | €15,451 | €2,300 | -€13,151 | -85.1% |
| Contributions | 10/11 | €2,300 | €2,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,151 | - | -€13,151 | |
| Amounts payable | 17/49 | €27,592 | €50,787 | +€23,195 | +84.1% |
| Amounts payable within one year | 42/48 | €27,392 | €49,298 | +€21,906 | +80.0% |
| Trade debts | 44 | - | €31 | +€31 | |
| Suppliers | 440/4 | - | €31 | +€31 | |
| Taxes, remuneration and social security | 45 | €3,180 | €4,184 | +€1,005 | +31.6% |
| Taxes | 450/3 | €3,180 | €4,184 | +€1,005 | +31.6% |
| Other amounts payable | 47/48 | €24,212 | €45,083 | +€20,870 | +86.2% |
| Accrued charges and deferred income | 492/3 | €200 | €1,489 | +€1,289 | +645% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €801 | €814 | +€13 | +1.6% |
| Other operating charges | 640/8 | €339 | €564 | +€225 | +66.5% |
| Gross operating margin | 9900 | €19,823 | €17,693 | -€2,130 | -10.7% |
| Operating profit (loss) | 9901 | €18,683 | €16,315 | -€2,368 | -12.7% |
| Financial income | 75/76B | €13 | €1 | -€11 | -88.8% |
| Recurring financial income | 75 | €13 | €1 | -€11 | -88.8% |
| Financial charges | 65/66B | €509 | €1,758 | +€1,249 | +245% |
| Recurring financial charges | 65 | €509 | €1,758 | +€1,249 | +245% |
| Profit (loss) for the period before taxes | 9903 | €18,187 | €14,559 | -€3,628 | -19.9% |
| Income taxes | 67/77 | €4,238 | €3,619 | -€619 | -14.6% |
| Profit (loss) for the period | 9904 | €13,949 | €10,940 | -€3,009 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,949 | €10,940 | -€3,009 | -21.6% |
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 14 October 2026 via checked.be.