A CÔTE DU CINQUANTENAIRE: 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.
A CÔTE DU CINQUANTENAIRE
Largest movements
- Tangible fixed assets +€226,523
up €226,523 (+673%), from €33,638 to €260,161
of which Land and buildings: +€225,374
- Cash -€64,345
down €64,345 (-54.9%), from €117,125 to €52,780
mainly Investment in fixed assets (net) (-€259,309) and Contributions, distributions and other (-€155,841)
- Receivables within one year +€6,518
new in 2025: €6,518
- Other debts +€153,966
up €153,966 (+3,864%), from €3,985 to €157,951
- Debts after one year +€130,235
new in 2025: €130,235
- Profit (loss) carried forward -€129,949
no longer reported in 2025 (was €129,949)
- Current portion of long-term debt +€11,881
new in 2025: €11,881
- Depreciation +€28,679
up €28,679 (+698%), from €4,107 to €32,786
- Taxes -€9,569
down €9,569 (-50.7%), from €18,888 to €9,319
- Financial charges +€4,837
up €4,837 (+4,742%), from €102 to €4,939
of which Financial charges: +€4,821
- Gross operating margin -€3,833
down €3,833 (-4.9%), from €77,920 to €74,087
- Other operating charges +€1,297
new in 2025: €1,297
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 | €153,362 | €321,059 | +€167,698 | +109% |
| Fixed assets | 21/28 | €33,683 | €260,206 | +€226,523 | +673% |
| Tangible fixed assets | 22/27 | €33,638 | €260,161 | +€226,523 | +673% |
| Land and buildings | 22 | €20,000 | €245,374 | +€225,374 | +1,127% |
| Furniture and vehicles | 24 | €13,638 | €14,786 | +€1,149 | +8.4% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €119,678 | €60,853 | -€58,826 | -49.2% |
| Amounts receivable after more than one year | 29 | €1,203 | - | -€1,203 | |
| Trade receivables | 290 | €86 | - | -€86 | |
| Other amounts receivable | 291 | €1,118 | - | -€1,118 | |
| Amounts receivable within one year | 40/41 | - | €6,518 | +€6,518 | |
| Other amounts receivable | 41 | - | €6,518 | +€6,518 | |
| Cash at bank and in hand | 54/58 | €117,125 | €52,780 | -€64,345 | -54.9% |
| Deferred charges and accrued income | 490/1 | €1,350 | €1,555 | +€205 | +15.2% |
| Total equity and liabilities | 10/49 | €153,362 | €321,059 | +€167,698 | +109% |
| Equity | 10/15 | €145,949 | €16,000 | -€129,949 | -89.0% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,949 | - | -€129,949 | |
| Amounts payable | 17/49 | €7,413 | €305,059 | +€297,646 | +4,015% |
| Amounts payable after more than one year | 17 | - | €130,235 | +€130,235 | |
| Financial debts | 170/4 | - | €130,235 | +€130,235 | |
| Amounts payable within one year | 42/48 | €6,462 | €172,144 | +€165,682 | +2,564% |
| Current portion of amounts payable after more than one year | 42 | - | €11,881 | +€11,881 | |
| Trade debts | 44 | €149 | €335 | +€186 | +124% |
| Suppliers | 440/4 | €149 | €335 | +€186 | +124% |
| Taxes, remuneration and social security | 45 | €2,328 | €1,977 | -€351 | -15.1% |
| Taxes | 450/3 | €2,328 | €1,977 | -€351 | -15.1% |
| Other amounts payable | 47/48 | €3,985 | €157,951 | +€153,966 | +3,864% |
| Accrued charges and deferred income | 492/3 | €951 | €2,680 | +€1,729 | +182% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,107 | €32,786 | +€28,679 | +698% |
| Other operating charges | 640/8 | - | €1,297 | +€1,297 | |
| Gross operating margin | 9900 | €77,920 | €74,087 | -€3,833 | -4.9% |
| Operating profit (loss) | 9901 | €73,813 | €40,003 | -€33,810 | -45.8% |
| Financial income | 75/76B | €8 | €147 | +€138 | +1,672% |
| Recurring financial income | 75 | €8 | €147 | +€138 | +1,672% |
| Financial charges | 65/66B | €102 | €4,939 | +€4,837 | +4,742% |
| Recurring financial charges | 65 | €102 | €4,923 | +€4,821 | +4,726% |
| Non-recurring financial charges | 66B | - | €16 | +€16 | |
| Profit (loss) for the period before taxes | 9903 | €73,719 | €35,212 | -€38,508 | -52.2% |
| Income taxes | 67/77 | €18,888 | €9,319 | -€9,569 | -50.7% |
| Profit (loss) for the period | 9904 | €54,831 | €25,893 | -€28,939 | -52.8% |
| Profit (loss) for the period to be appropriated | 9905 | €54,831 | €25,893 | -€28,939 | -52.8% |
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 27 October 2026 via checked.be.