SKY RESEARCH 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.
SKY RESEARCH MANAGEMENT
Largest movements
- Receivables within one year +€5,165
up €5,165 (+33.7%), from €15,309 to €20,474
of which Other amounts receivable: +€2,777
- Cash +€5,041
up €5,041 (+10.7%), from €46,902 to €51,943
mainly Other debts (+€31,539) and Net result for the year (+€25,351)
- Financial fixed assets +€4,200
up €4,200 (+4.7%), from €90,030 to €94,230
- Tangible fixed assets -€3,174
down €3,174 (-17.8%), from €17,793 to €14,619
- Other debts +€31,539
up €31,539 (+118%), from €26,661 to €58,200
- Reserves -€30,646
down €30,646 (-25.9%), from €118,519 to €87,874
of which Distributable reserves: -€30,646
- Tax, wage and social debts +€10,139
up €10,139 (+164%), from €6,172 to €16,311
- Financial charges -€8,726
down €8,726 (-17.4%), from €50,108 to €41,382
- Gross operating margin +€3,997
up €3,997 (+5.8%), from €68,532 to €72,529
- Taxes -€3,907
down €3,907 (-63.7%), from €6,129 to €2,223
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 | €170,260 | €181,462 | +€11,203 | +6.6% |
| Fixed assets | 21/28 | €107,823 | €108,849 | +€1,026 | +1.0% |
| Tangible fixed assets | 22/27 | €17,793 | €14,619 | -€3,174 | -17.8% |
| Other tangible fixed assets | 26 | €17,793 | €14,619 | -€3,174 | -17.8% |
| Financial fixed assets | 28 | €90,030 | €94,230 | +€4,200 | +4.7% |
| Current assets | 29/58 | €62,437 | €72,613 | +€10,176 | +16.3% |
| Amounts receivable within one year | 40/41 | €15,309 | €20,474 | +€5,165 | +33.7% |
| Trade receivables | 40 | €15,309 | €17,696 | +€2,387 | +15.6% |
| Other amounts receivable | 41 | €0 | €2,777 | +€2,777 | |
| Cash at bank and in hand | 54/58 | €46,902 | €51,943 | +€5,041 | +10.7% |
| Deferred charges and accrued income | 490/1 | €226 | €196 | -€29 | -13.0% |
| Total equity and liabilities | 10/49 | €170,260 | €181,462 | +€11,203 | +6.6% |
| Equity | 10/15 | €137,119 | €106,474 | -€30,646 | -22.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,519 | €87,874 | -€30,646 | -25.9% |
| 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 | €116,659 | €86,014 | -€30,646 | -26.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €33,140 | €74,989 | +€41,849 | +126% |
| Amounts payable within one year | 42/48 | €33,140 | €74,989 | +€41,849 | +126% |
| Trade debts | 44 | €307 | €477 | +€170 | +55.5% |
| Suppliers | 440/4 | €307 | €477 | +€170 | +55.5% |
| Taxes, remuneration and social security | 45 | €6,172 | €16,311 | +€10,139 | +164% |
| Taxes | 450/3 | €6,172 | €16,311 | +€10,139 | +164% |
| Other amounts payable | 47/48 | €26,661 | €58,200 | +€31,539 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,174 | €3,174 | +€0 | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €68,532 | €72,529 | +€3,997 | +5.8% |
| Operating profit (loss) | 9901 | €64,971 | €68,955 | +€3,984 | +6.1% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €50,108 | €41,382 | -€8,726 | -17.4% |
| Recurring financial charges | 65 | €50,108 | €41,382 | -€8,726 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €14,863 | €27,573 | +€12,710 | +85.5% |
| Income taxes | 67/77 | €6,129 | €2,223 | -€3,907 | -63.7% |
| Profit (loss) for the period | 9904 | €8,734 | €25,351 | +€16,616 | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €8,734 | €25,351 | +€16,616 | +190% |
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.