A6 EUROPE: 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.
A6 EUROPE
Largest movements
- Receivables after one year +€211,242
up €211,242 (+39.1%), from €540,473 to €751,715
- Cash -€172,531
down €172,531 (-85.2%), from €202,478 to €29,947
mainly Contributions, distributions and other (-€320,824) and Other debts (-€229,176)
- Receivables within one year +€147,604
up €147,604 (+9.1%), from €1.6m to €1.8m
of which Trade receivables: +€248,710
- Stocks and contracts -€46,244
down €46,244 (-13.9%), from €332,439 to €286,195
- Tangible fixed assets -€43,676
down €43,676 (-26.1%), from €167,532 to €123,856
of which Furniture and vehicles: -€36,745
- Debts after one year +€435,847
up €435,847 (+63.6%), from €685,430 to €1.1m
of which Financial debts: +€434,111
- Profit (loss) carried forward -€282,157
down €282,157 (-36.1%), from €782,157 to €500,000
- Other debts -€229,176
down €229,176 (-41.7%), from €550,000 to €320,824
- Short-term financial debts +€129,508
up €129,508 (+53.5%), from €242,255 to €371,762
- Trade debts +€67,943
up €67,943 (+23.3%), from €292,006 to €359,950
- Gross operating margin -€228,988
down €228,988 (-56.2%), from €407,606 to €178,617
- Taxes -€45,537
down €45,537 (-74.2%), from €61,378 to €15,842
- Provisions +€19,328
up €19,328 (+83.7%), from -€23,088 to -€3,761
- Staff costs +€15,180
up €15,180 (+39.8%), from €38,119 to €53,299
- Depreciation +€14,203
up €14,203 (+44.9%), from €31,625 to €45,828
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 | €2,864,277 | €2,963,311 | +€99,035 | +3.5% |
| Fixed assets | 21/28 | €172,582 | €128,906 | -€43,676 | -25.3% |
| Tangible fixed assets | 22/27 | €167,532 | €123,856 | -€43,676 | -26.1% |
| Plant, machinery and equipment | 23 | - | €1,601 | +€1,601 | |
| Furniture and vehicles | 24 | €150,468 | €113,723 | -€36,745 | -24.4% |
| Other tangible fixed assets | 26 | €17,065 | €8,532 | -€8,532 | -50.0% |
| Financial fixed assets | 28 | €5,050 | €5,050 | = | 0.0% |
| Current assets | 29/58 | €2,691,694 | €2,834,405 | +€142,711 | +5.3% |
| Amounts receivable after more than one year | 29 | €540,473 | €751,715 | +€211,242 | +39.1% |
| Other amounts receivable | 291 | €540,473 | €751,715 | +€211,242 | +39.1% |
| Stocks and contracts in progress | 3 | €332,439 | €286,195 | -€46,244 | -13.9% |
| Stocks | 30/36 | €332,439 | €286,195 | -€46,244 | -13.9% |
| Amounts receivable within one year | 40/41 | €1,615,876 | €1,763,480 | +€147,604 | +9.1% |
| Trade receivables | 40 | €1,474,131 | €1,722,842 | +€248,710 | +16.9% |
| Other amounts receivable | 41 | €141,744 | €40,638 | -€101,106 | -71.3% |
| Cash at bank and in hand | 54/58 | €202,478 | €29,947 | -€172,531 | -85.2% |
| Deferred charges and accrued income | 490/1 | €428 | €3,068 | +€2,640 | +617% |
| Total equity and liabilities | 10/49 | €2,864,277 | €2,963,311 | +€99,035 | +3.5% |
| Equity | 10/15 | €1,008,767 | €726,610 | -€282,157 | -28.0% |
| Contributions | 10/11 | €148,600 | €148,600 | = | 0.0% |
| Capital | 10 | €148,600 | €148,600 | = | 0.0% |
| Issued capital | 100 | €148,600 | €148,600 | = | 0.0% |
| Reserves | 13 | €78,010 | €78,010 | = | 0.0% |
| Non-distributable reserves | 130/1 | €14,860 | €14,860 | = | 0.0% |
| Legal reserve | 130 | €14,860 | €14,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €782,157 | €500,000 | -€282,157 | -36.1% |
| Provisions and deferred taxes | 16 | €9,130 | €5,370 | -€3,761 | -41.2% |
| Provisions for liabilities and charges | 160/5 | €9,130 | €5,370 | -€3,761 | -41.2% |
| Other liabilities and charges | 164/5 | €9,130 | €5,370 | -€3,761 | -41.2% |
| Amounts payable | 17/49 | €1,846,379 | €2,231,332 | +€384,952 | +20.8% |
| Amounts payable after more than one year | 17 | €685,430 | €1,121,277 | +€435,847 | +63.6% |
| Financial debts | 170/4 | €627,575 | €1,061,687 | +€434,111 | +69.2% |
| Other amounts payable | 178/9 | €57,855 | €59,591 | +€1,736 | +3.0% |
| Amounts payable within one year | 42/48 | €1,126,321 | €1,097,740 | -€28,582 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €32,539 | €33,723 | +€1,184 | +3.6% |
| Financial debts | 43 | €242,255 | €371,762 | +€129,508 | +53.5% |
| Credit institutions | 430/8 | €242,255 | €371,762 | +€129,508 | +53.5% |
| Trade debts | 44 | €292,006 | €359,950 | +€67,943 | +23.3% |
| Suppliers | 440/4 | €292,006 | €359,950 | +€67,943 | +23.3% |
| Taxes, remuneration and social security | 45 | €9,521 | €11,480 | +€1,959 | +20.6% |
| Taxes | 450/3 | €4,618 | €4,911 | +€293 | +6.3% |
| Remuneration and social security | 454/9 | €4,903 | €6,569 | +€1,666 | +34.0% |
| Other amounts payable | 47/48 | €550,000 | €320,824 | -€229,176 | -41.7% |
| Accrued charges and deferred income | 492/3 | €34,628 | €12,315 | -€22,313 | -64.4% |
| Remuneration, social security and pensions | 62 | €38,119 | €53,299 | +€15,180 | +39.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,625 | €45,828 | +€14,203 | +44.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,796 | -€8,543 | -€5,748 | -206% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€23,088 | -€3,761 | +€19,328 | +83.7% |
| Other operating charges | 640/8 | €5,509 | €1,267 | -€4,243 | -77.0% |
| Non-recurring operating charges | 66A | - | €69 | +€69 | |
| Gross operating margin | 9900 | €407,606 | €178,617 | -€228,988 | -56.2% |
| Operating profit (loss) | 9901 | €358,237 | €90,460 | -€267,777 | -74.7% |
| Financial income | 75/76B | €21,632 | €23,286 | +€1,655 | +7.6% |
| Recurring financial income | 75 | €21,632 | €23,286 | +€1,655 | +7.6% |
| Financial charges | 65/66B | €52,191 | €59,237 | +€7,046 | +13.5% |
| Recurring financial charges | 65 | €52,191 | €59,237 | +€7,046 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €327,677 | €54,509 | -€273,168 | -83.4% |
| Income taxes | 67/77 | €61,378 | €15,842 | -€45,537 | -74.2% |
| Profit (loss) for the period | 9904 | €266,299 | €38,667 | -€227,632 | -85.5% |
| Transfer to tax-exempt reserves | 689 | €63,150 | €0 | -€63,150 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €203,149 | €38,667 | -€164,482 | -81.0% |
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 28 October 2026 via checked.be.