Unreal 38: 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.
Unreal 38
Largest movements
- Cash -€52,142
down €52,142 (-58.2%), from €89,522 to €37,380
mainly Contributions, distributions and other (-€80,000) and Tax, wage and social debts (-€7,610)
- Tangible fixed assets -€2,621
down €2,621 (-68.0%), from €3,852 to €1,231
- Profit (loss) carried forward -€47,520
down €47,520 (-66.2%), from €71,783 to €24,263
- Tax, wage and social debts -€7,610
down €7,610 (-39.4%), from €19,320 to €11,710
- Gross operating margin +€1,468
up €1,468 (+3.3%), from €44,575 to €46,043
- Taxes +€461
up €461 (+5.4%), from €8,495 to €8,956
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 | €93,374 | €38,611 | -€54,763 | -58.6% |
| Fixed assets | 21/28 | €3,852 | €1,231 | -€2,621 | -68.0% |
| Tangible fixed assets | 22/27 | €3,852 | €1,231 | -€2,621 | -68.0% |
| Plant, machinery and equipment | 23 | €3,852 | €1,231 | -€2,621 | -68.0% |
| Current assets | 29/58 | €89,522 | €37,380 | -€52,142 | -58.2% |
| Cash at bank and in hand | 54/58 | €89,522 | €37,380 | -€52,142 | -58.2% |
| Total equity and liabilities | 10/49 | €93,374 | €38,611 | -€54,763 | -58.6% |
| Equity | 10/15 | €71,793 | €24,273 | -€47,520 | -66.2% |
| Contributions | 10/11 | €10 | €10 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,783 | €24,263 | -€47,520 | -66.2% |
| Amounts payable | 17/49 | €21,581 | €14,338 | -€7,243 | -33.6% |
| Amounts payable within one year | 42/48 | €21,581 | €14,338 | -€7,243 | -33.6% |
| Trade debts | 44 | €383 | - | -€383 | |
| Suppliers | 440/4 | €383 | - | -€383 | |
| Taxes, remuneration and social security | 45 | €19,320 | €11,710 | -€7,610 | -39.4% |
| Taxes | 450/3 | €19,320 | €11,710 | -€7,610 | -39.4% |
| Other amounts payable | 47/48 | €1,878 | €2,628 | +€750 | +39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,321 | €2,621 | +€300 | +12.9% |
| Other operating charges | 640/8 | €201 | €205 | +€4 | +2.0% |
| Gross operating margin | 9900 | €44,575 | €46,043 | +€1,468 | +3.3% |
| Operating profit (loss) | 9901 | €42,053 | €43,217 | +€1,164 | +2.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,016 | €1,782 | -€234 | -11.6% |
| Recurring financial charges | 65 | €2,016 | €1,782 | -€234 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €40,037 | €41,435 | +€1,398 | +3.5% |
| Income taxes | 67/77 | €8,495 | €8,956 | +€461 | +5.4% |
| Profit (loss) for the period | 9904 | €31,543 | €32,480 | +€937 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,543 | €32,480 | +€937 | +3.0% |
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 31 October 2026 via checked.be.