Science 11: 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.
Science 11
Largest movements
- Tangible fixed assets +€3.5m
up €3.5m (+17.1%), from €20.6m to €24.1m
of which Assets under construction and advance payments: +€3.9m
- Stocks and contracts -€259,437
no longer reported in 2025 (was €259,437)
- Trade debts +€2.4m
up €2.4m (+39,072%), from €6,152 to €2.4m
- Short-term financial debts +€1.2m
up €1.2m (+36.6%), from €3.3m to €4.6m
- Profit (loss) carried forward -€427,698
down €427,698 (-118%), from -€361,706 to -€789,404
- Other operating charges +€588,481
up €588,481 (+33,599%), from €1,751 to €590,232
- Gross operating margin +€515,658
up €515,658 (+6,482%), from €7,956 to €523,614
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 | €20,937,513 | €24,136,472 | +€3.2m | +15.3% |
| Fixed assets | 21/28 | €20,581,597 | €24,099,300 | +€3.5m | +17.1% |
| Tangible fixed assets | 22/27 | €20,581,597 | €24,099,300 | +€3.5m | +17.1% |
| Land and buildings | 22 | €20,581,597 | €20,221,786 | -€359,812 | -1.7% |
| Assets under construction and advance payments | 27 | - | €3,877,514 | +€3.9m | |
| Current assets | 29/58 | €355,915 | €37,173 | -€318,743 | -89.6% |
| Stocks and contracts in progress | 3 | €259,437 | - | -€259,437 | |
| Contracts in progress | 37 | €259,437 | - | -€259,437 | |
| Amounts receivable within one year | 40/41 | €84,569 | €23,210 | -€61,360 | -72.6% |
| Trade receivables | 40 | €77,400 | €20,710 | -€56,690 | -73.2% |
| Other amounts receivable | 41 | €7,169 | €2,500 | -€4,669 | -65.1% |
| Cash at bank and in hand | 54/58 | €11,909 | €13,963 | +€2,054 | +17.2% |
| Total equity and liabilities | 10/49 | €20,937,513 | €24,136,472 | +€3.2m | +15.3% |
| Equity | 10/15 | €3,587,116 | €3,157,879 | -€429,237 | -12.0% |
| Contributions | 10/11 | €3,947,283 | €3,947,283 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€361,706 | -€789,404 | -€427,698 | -118% |
| Amounts payable | 17/49 | €17,351,935 | €20,978,593 | +€3.6m | +20.9% |
| Amounts payable after more than one year | 17 | €14,000,000 | €14,000,000 | = | 0.0% |
| Financial debts | 170/4 | €14,000,000 | €14,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,351,935 | €6,978,593 | +€3.6m | +108% |
| Financial debts | 43 | €3,345,783 | €4,568,783 | +€1.2m | +36.6% |
| Other loans | 439 | €3,345,783 | €4,568,783 | +€1.2m | +36.6% |
| Trade debts | 44 | €6,152 | €2,409,810 | +€2.4m | +39,072% |
| Suppliers | 440/4 | €6,152 | €2,409,810 | +€2.4m | +39,072% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €360,043 | €359,812 | -€232 | -0.1% |
| Other operating charges | 640/8 | €1,751 | €590,232 | +€588,481 | +33,599% |
| Gross operating margin | 9900 | €7,956 | €523,614 | +€515,658 | +6,482% |
| Operating profit (loss) | 9901 | -€357,828 | -€426,430 | -€68,602 | -19.2% |
| Financial charges | 65/66B | €3,878 | €1,268 | -€2,610 | -67.3% |
| Recurring financial charges | 65 | €3,878 | €1,268 | -€2,610 | -67.3% |
| Profit (loss) for the period before taxes | 9903 | -€361,706 | -€427,698 | -€65,993 | -18.2% |
| Profit (loss) for the period | 9904 | -€361,706 | -€427,698 | -€65,993 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€361,706 | -€427,698 | -€65,993 | -18.2% |
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 19 October 2026 via checked.be.