48OUNCES: 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.
48OUNCES
Largest movements
- Receivables within one year +€25,192
up €25,192 (+40.6%), from €62,118 to €87,310
of which Other amounts receivable: +€32,389
- Tangible fixed assets -€18,780
down €18,780 (-30.1%), from €62,397 to €43,617
of which Furniture and vehicles: -€17,740
- Cash -€16,866
down €16,866 (-20.3%), from €82,907 to €66,041
mainly Contributions, distributions and other (-€53,311) and Receivables within one year (-€25,192)
- Deferred charges and accrued income +€5,573
up €5,573 (+1,134%), from €492 to €6,065
- Reserves -€42,864
down €42,864 (-35.9%), from €119,548 to €76,684
- Debts after one year +€25,227
up €25,227 (+64.8%), from €38,904 to €64,131
- Other debts +€10,447
new in 2025: €10,447
- Current portion of long-term debt +€10,009
up €10,009 (+67.8%), from €14,764 to €24,773
- Trade debts -€6,508
down €6,508 (-59.6%), from €10,925 to €4,417
- Gross operating margin -€21,176
down €21,176 (-30.2%), from €70,060 to €48,885
- Taxes -€7,747
down €7,747 (-63.7%), from €12,171 to €4,424
- Financial income -€6,873
no longer reported in 2025 (was €6,873)
- Depreciation -€1,094
down €1,094 (-5.5%), from €19,874 to €18,780
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 | €207,914 | €203,034 | -€4,880 | -2.3% |
| Fixed assets | 21/28 | €62,397 | €43,617 | -€18,780 | -30.1% |
| Tangible fixed assets | 22/27 | €62,397 | €43,617 | -€18,780 | -30.1% |
| Plant, machinery and equipment | 23 | €1,976 | €936 | -€1,040 | -52.6% |
| Furniture and vehicles | 24 | €60,420 | €42,681 | -€17,740 | -29.4% |
| Current assets | 29/58 | €145,517 | €159,417 | +€13,900 | +9.6% |
| Amounts receivable within one year | 40/41 | €62,118 | €87,310 | +€25,192 | +40.6% |
| Trade receivables | 40 | €29,827 | €22,629 | -€7,197 | -24.1% |
| Other amounts receivable | 41 | €32,292 | €64,681 | +€32,389 | +100% |
| Cash at bank and in hand | 54/58 | €82,907 | €66,041 | -€16,866 | -20.3% |
| Deferred charges and accrued income | 490/1 | €492 | €6,065 | +€5,573 | +1,134% |
| Total equity and liabilities | 10/49 | €207,914 | €203,034 | -€4,880 | -2.3% |
| Equity | 10/15 | €122,048 | €79,184 | -€42,864 | -35.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €119,548 | €76,684 | -€42,864 | -35.9% |
| Distributable reserves | 133 | €119,548 | €76,684 | -€42,864 | -35.9% |
| Amounts payable | 17/49 | €85,865 | €123,849 | +€37,984 | +44.2% |
| Amounts payable after more than one year | 17 | €38,904 | €64,131 | +€25,227 | +64.8% |
| Financial debts | 170/4 | €38,904 | €64,131 | +€25,227 | +64.8% |
| Amounts payable within one year | 42/48 | €46,655 | €58,960 | +€12,306 | +26.4% |
| Current portion of amounts payable after more than one year | 42 | €14,764 | €24,773 | +€10,009 | +67.8% |
| Trade debts | 44 | €10,925 | €4,417 | -€6,508 | -59.6% |
| Suppliers | 440/4 | €10,925 | €4,417 | -€6,508 | -59.6% |
| Taxes, remuneration and social security | 45 | €20,966 | €19,324 | -€1,642 | -7.8% |
| Taxes | 450/3 | €20,966 | €19,324 | -€1,642 | -7.8% |
| Other amounts payable | 47/48 | - | €10,447 | +€10,447 | |
| Accrued charges and deferred income | 492/3 | €307 | €758 | +€451 | +147% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,874 | €18,780 | -€1,094 | -5.5% |
| Other operating charges | 640/8 | €354 | €475 | +€121 | +34.2% |
| Non-recurring operating charges | 66A | - | €13,205 | +€13,205 | |
| Gross operating margin | 9900 | €70,060 | €48,885 | -€21,176 | -30.2% |
| Operating profit (loss) | 9901 | €49,832 | €16,424 | -€33,408 | -67.0% |
| Financial income | 75/76B | €6,873 | - | -€6,873 | |
| Recurring financial income | 75 | €6,873 | - | -€6,873 | |
| Financial charges | 65/66B | €1,670 | €1,553 | -€117 | -7.0% |
| Recurring financial charges | 65 | €1,670 | €1,553 | -€117 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €55,035 | €14,871 | -€40,164 | -73.0% |
| Income taxes | 67/77 | €12,171 | €4,424 | -€7,747 | -63.7% |
| Profit (loss) for the period | 9904 | €42,864 | €10,447 | -€32,417 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,864 | €10,447 | -€32,417 | -75.6% |
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 30 October 2026 via checked.be.