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Line	Code	2024	2025	Change	%
Total assets	20/58	€539,626	€520,578	-€19,048	-3.5%
Fixed assets	21/28	€432,665	€415,703	-€16,962	-3.9%
Tangible fixed assets	22/27	€432,665	€415,703	-€16,962	-3.9%
Land and buildings	22	€407,920	€394,128	-€13,792	-3.4%
Plant, machinery and equipment	23	€11,801	€0	-€11,801	-100%
Furniture and vehicles	24	€12,158	€21,575	+€9,417	+77.5%
Other tangible fixed assets	26	€787	€0	-€787	-100.0%
Current assets	29/58	€106,961	€104,875	-€2,086	-2.0%
Amounts receivable within one year	40/41	€34,931	€19,066	-€15,865	-45.4%
Trade receivables	40	€30,108	€13,920	-€16,188	-53.8%
Other amounts receivable	41	€4,823	€5,146	+€323	+6.7%
Current investments	50/53	€30,068	€0	-€30,068	-100%
Cash at bank and in hand	54/58	€39,910	€83,098	+€43,188	+108%
Deferred charges and accrued income	490/1	€2,052	€2,711	+€660	+32.2%
Total equity and liabilities	10/49	€539,626	€520,578	-€19,048	-3.5%
Equity	10/15	€104,335	€118,317	+€13,981	+13.4%
Contributions	10/11	€18,600	€18,600	=	0.0%
Reserves	13	€85,735	€99,717	+€13,981	+16.3%
Non-distributable reserves	130/1	€0	-	=
Reserves not available under the articles	1311	€0	-	=
Tax-exempt reserves	132	€6,611	€6,611	=	0.0%
Distributable reserves	133	€79,124	€93,106	+€13,981	+17.7%
Profit (loss) carried forward	14	€0	€0	=
Provisions and deferred taxes	16	€1,200	€1,200	=	0.0%
Provisions for liabilities and charges	160/5	€1,200	€1,200	=	0.0%
Other liabilities and charges	164/5	€1,200	€1,200	=	0.0%
Amounts payable	17/49	€434,091	€401,062	-€33,029	-7.6%
Amounts payable after more than one year	17	€334,511	€284,680	-€49,831	-14.9%
Financial debts	170/4	€334,511	€284,680	-€49,831	-14.9%
Amounts payable within one year	42/48	€99,580	€116,381	+€16,801	+16.9%
Current portion of amounts payable after more than one year	42	€20,536	€35,577	+€15,041	+73.2%
Trade debts	44	€495	€3,500	+€3,005	+607%
Suppliers	440/4	€495	€3,500	+€3,005	+607%
Taxes, remuneration and social security	45	€7,898	€6,107	-€1,792	-22.7%
Taxes	450/3	€7,898	€6,107	-€1,792	-22.7%
Other amounts payable	47/48	€70,651	€71,198	+€547	+0.8%
Non-recurring operating income	76A	€25,996	€1,004	-€24,992	-96.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets	630	€26,235	€29,712	+€3,477	+13.3%
Other operating charges	640/8	€4,648	€3,716	-€932	-20.0%
Gross operating margin	9900	€35,781	€66,274	+€30,493	+85.2%
Operating profit (loss)	9901	€4,898	€32,846	+€27,948	+571%
Financial income	75/76B	€99	€75	-€23	-23.7%
Recurring financial income	75	€99	€75	-€23	-23.7%
Financial charges	65/66B	€12,360	€12,740	+€380	+3.1%
Recurring financial charges	65	€12,360	€12,740	+€380	+3.1%
Profit (loss) for the period before taxes	9903	-€7,364	€20,181	+€27,545
Income taxes	67/77	-€907	€6,200	+€7,107
Profit (loss) for the period	9904	-€6,457	€13,981	+€20,438
Profit (loss) for the period to be appropriated	9905	-€6,457	€13,981	+€20,438

BCDS: value indication

BCDS: value indication

Position among the sector peers

What moved between 2024 and 2025

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Change in the result, 2024 to 2025

Derived cash bridge

Value

Indicative value of the equity

Adjusted equity

Capitalised earnings

Your EBITDA multiple

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