The Management Factory: 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.
The Management Factory
Largest movements
- Cash -€85
down €85 (-19.6%), from €434 to €349
mainly Net result for the year (-€85)
- Profit (loss) carried forward -€85
down €85 (0.0%), from -€281,746 to -€281,832
- Gross operating margin +€1,375
up €1,375, from -€1,375 to €0
- Financial charges -€32
down €32 (-27.1%), from €117 to €85
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 | €434 | €349 | -€85 | -19.6% |
| Current assets | 29/58 | €434 | €349 | -€85 | -19.6% |
| Cash at bank and in hand | 54/58 | €434 | €349 | -€85 | -19.6% |
| Total equity and liabilities | 10/49 | €434 | €349 | -€85 | -19.6% |
| Equity | 10/15 | -€181,746 | -€181,832 | -€85 | 0.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€281,746 | -€281,832 | -€85 | 0.0% |
| Amounts payable | 17/49 | €182,180 | €182,180 | = | 0.0% |
| Amounts payable within one year | 42/48 | €182,180 | €182,180 | = | 0.0% |
| Other amounts payable | 47/48 | €182,180 | €182,180 | = | 0.0% |
| Gross operating margin | 9900 | -€1,375 | €0 | +€1,375 | |
| Operating profit (loss) | 9901 | -€1,375 | €0 | +€1,375 | |
| Financial charges | 65/66B | €117 | €85 | -€32 | -27.1% |
| Recurring financial charges | 65 | €117 | €85 | -€32 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,492 | -€85 | +€1,407 | +94.3% |
| Profit (loss) for the period | 9904 | -€1,492 | -€85 | +€1,407 | +94.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,492 | -€85 | +€1,407 | +94.3% |
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 1 November 2026 via checked.be.