RESEARCH & CONSULTANCY: 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.
RESEARCH & CONSULTANCY
Largest movements
- Cash -€1,440
down €1,440 (-4.9%), from €29,350 to €27,910
mainly Other debts (-€3,798)
- Other debts -€3,798
down €3,798 (-99.4%), from €3,820 to €22
- Trade debts +€1,553
up €1,553 (+356%), from €436 to €1,990
- Profit (loss) carried forward +€590
up €590 (+2.1%), from €27,799 to €28,389
- Gross operating margin -€4,439
down €4,439 (-46.3%), from €9,596 to €5,157
- Taxes -€1,129
down €1,129 (-84.0%), from €1,343 to €215
- Other operating charges +€132
up €132 (+3.1%), from €4,185 to €4,317
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 | €52,506 | €51,067 | -€1,440 | -2.7% |
| Fixed assets | 21/28 | €22,500 | €22,500 | = | 0.0% |
| Tangible fixed assets | 22/27 | €22,500 | €22,500 | = | 0.0% |
| Land and buildings | 22 | €22,500 | €22,500 | = | 0.0% |
| Current assets | 29/58 | €30,006 | €28,567 | -€1,440 | -4.8% |
| Amounts receivable within one year | 40/41 | €657 | €657 | = | 0.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €657 | €657 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,350 | €27,910 | -€1,440 | -4.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €52,506 | €51,067 | -€1,440 | -2.7% |
| Equity | 10/15 | €48,250 | €48,840 | +€590 | +1.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,799 | €28,389 | +€590 | +2.1% |
| Amounts payable | 17/49 | €4,257 | €2,227 | -€2,030 | -47.7% |
| Amounts payable within one year | 42/48 | €4,257 | €2,227 | -€2,030 | -47.7% |
| Trade debts | 44 | €436 | €1,990 | +€1,553 | +356% |
| Suppliers | 440/4 | €436 | €1,990 | +€1,553 | +356% |
| Taxes, remuneration and social security | 45 | €0 | €215 | +€215 | |
| Taxes | 450/3 | €0 | €215 | +€215 | |
| Other amounts payable | 47/48 | €3,820 | €22 | -€3,798 | -99.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €4,185 | €4,317 | +€132 | +3.1% |
| Gross operating margin | 9900 | €9,596 | €5,157 | -€4,439 | -46.3% |
| Operating profit (loss) | 9901 | €5,411 | €840 | -€4,571 | -84.5% |
| Financial charges | 65/66B | €38 | €35 | -€2 | -6.0% |
| Recurring financial charges | 65 | €38 | €35 | -€2 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €5,373 | €805 | -€4,569 | -85.0% |
| Income taxes | 67/77 | €1,343 | €215 | -€1,129 | -84.0% |
| Profit (loss) for the period | 9904 | €4,030 | €590 | -€3,440 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,030 | €590 | -€3,440 | -85.4% |
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 16 October 2026 via checked.be.