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Line	Code	2024	2025	Change	%
Total assets	20/58	€818,463	€441,246	-€377,216	-46.1%
Fixed assets	21/28	€713,513	€340,669	-€372,844	-52.3%
Tangible fixed assets	22/27	€713,513	€340,669	-€372,844	-52.3%
Land and buildings	22	€710,050	€338,266	-€371,784	-52.4%
Plant, machinery and equipment	23	€85	€19	-€66	-77.8%
Furniture and vehicles	24	€3,378	€2,384	-€994	-29.4%
Current assets	29/58	€104,950	€100,577	-€4,372	-4.2%
Amounts receivable within one year	40/41	€82,890	€6,533	-€76,357	-92.1%
Trade receivables	40	€82,890	€1,420	-€81,470	-98.3%
Other amounts receivable	41	€0	€5,113	+€5,113
Current investments	50/53	€3	€90,612	+€90,609	+3,113,723%
Cash at bank and in hand	54/58	-	€3,432	+€3,432
Deferred charges and accrued income	490/1	€22,057	€0	-€22,057	-100%
Total equity and liabilities	10/49	€818,463	€441,246	-€377,216	-46.1%
Equity	10/15	€113,421	€264,791	+€151,370	+133%
Contributions	10/11	€6,200	€6,200	=	0.0%
Reserves	13	€107,221	€269,576	+€162,355	+151%
Non-distributable reserves	130/1	€0	-	=
Reserves not available under the articles	1311	€0	-	=
Tax-exempt reserves	132	-	€231,576	+€231,576
Distributable reserves	133	€107,221	€38,000	-€69,221	-64.6%
Profit (loss) carried forward	14	€0	-€10,985	-€10,985
Provisions and deferred taxes	16	-	€77,192	+€77,192
Deferred taxes	168	-	€77,192	+€77,192
Amounts payable	17/49	€705,042	€99,263	-€605,778	-85.9%
Amounts payable after more than one year	17	€370,045	€28,901	-€341,144	-92.2%
Financial debts	170/4	€370,045	€28,901	-€341,144	-92.2%
Amounts payable within one year	42/48	€328,721	€70,140	-€258,582	-78.7%
Current portion of amounts payable after more than one year	42	€73,849	€3,273	-€70,576	-95.6%
Financial debts	43	€7,315	€0	-€7,315	-100%
Credit institutions	430/8	€2,841	€0	-€2,841	-100%
Other loans	439	€4,474	€0	-€4,474	-100%
Trade debts	44	€5,003	€17,963	+€12,959	+259%
Suppliers	440/4	€5,003	€17,963	+€12,959	+259%
Taxes, remuneration and social security	45	€57,762	€9,660	-€48,102	-83.3%
Taxes	450/3	€57,762	€2,630	-€55,132	-95.4%
Remuneration and social security	454/9	-	€7,030	+€7,030
Other amounts payable	47/48	€184,791	€39,244	-€145,548	-78.8%
Accrued charges and deferred income	492/3	€6,275	€222	-€6,053	-96.5%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets	630	€24,638	€21,649	-€2,989	-12.1%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)	631/4	€45,493	-€38,731	-€84,225
Other operating charges	640/8	€4,978	€3,891	-€1,087	-21.8%
Non-recurring operating charges	66A	€0	-	=
Gross operating margin	9900	€173,851	-€94,738	-€268,589
Operating profit (loss)	9901	€98,741	-€81,546	-€180,288
Financial income	75/76B	€0	€332,740	+€332,740
Recurring financial income	75	€0	€177	+€177
Non-recurring financial income	76B	-	€332,563	+€332,563
Financial charges	65/66B	€18,233	€21,393	+€3,161	+17.3%
Recurring financial charges	65	€18,233	€21,393	+€3,161	+17.3%
Profit (loss) for the period before taxes	9903	€80,509	€229,800	+€149,291	+185%
Transfer to deferred taxes	680	-	€77,192	+€77,192
Income taxes	67/77	€25,177	€1,238	-€23,939	-95.1%
Profit (loss) for the period	9904	€55,331	€151,370	+€96,039	+174%
Transfer to tax-exempt reserves	689	-	€231,576	+€231,576
Profit (loss) for the period to be appropriated	9905	€55,331	-€80,206	-€135,537

3T: value indication

3T: value indication

Position among the sector peers

What moved between 2024 and 2025

Largest movements

Change in the result, 2024 to 2025

Derived cash bridge

Value

Indicative value of the equity

Adjusted equity

Capitalised earnings

Your EBITDA multiple

Limits of the indication

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