BALAC'H: what changed
Two fiscal 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.
BALAC'H
Largest movements
- Tangible fixed assets +€36,029
up €36,029 (+57.5%), from €62,625 to €98,654
of which Land and buildings: +€36,029
- Cash -€17,535
down €17,535 (-10.2%), from €172,729 to €155,194
mainly Investment in fixed assets (net) (-€41,786) and Tax, wage and social debts (-€4,857)
- Other debts +€15,146
up €15,146 (+124.8%), from €12,134 to €27,280
- Reserves +€8,503
up €8,503 (+5.1%), from €167,845 to €176,348
- Tax, wage and social debts -€4,857
down €4,857 (-69.2%), from €7,023 to €2,166
of which Remuneration and social security: -€3,481
- Gross operating margin -€21,982
down €21,982 (-31.2%), from €70,531 to €48,549
- Taxes -€6,162
down €6,162 (-45.0%), from €13,702 to €7,539
- Depreciation +€2,712
up €2,712 (+89.0%), from €3,045 to €5,757
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.
Cash bridge derived
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 | €294,937 | €314,448 | +€19,511 | +6.6% |
| Fixed assets | 21/28 | €64,140 | €100,169 | +€36,029 | +56.2% |
| Tangible fixed assets | 22/27 | €62,625 | €98,654 | +€36,029 | +57.5% |
| Land and buildings | 22 | €58,808 | €94,837 | +€36,029 | +61.3% |
| Furniture and vehicles | 24 | €3,817 | €3,817 | = | 0.0% |
| Financial fixed assets | 28 | €1,515 | €1,515 | = | 0.0% |
| Current assets | 29/58 | €230,797 | €214,278 | -€16,519 | -7.2% |
| Amounts receivable within one year | 40/41 | €57,209 | €57,893 | +€684 | +1.2% |
| Trade receivables | 40 | €54,700 | €49,070 | -€5,630 | -10.3% |
| Other amounts receivable | 41 | €2,509 | €8,823 | +€6,314 | +251.7% |
| Cash at bank and in hand | 54/58 | €172,729 | €155,194 | -€17,535 | -10.2% |
| Deferred charges and accrued income | 490/1 | €859 | €1,191 | +€332 | +38.6% |
| Total equity and liabilities | 10/49 | €294,937 | €314,448 | +€19,511 | +6.6% |
| Equity | 10/15 | €274,316 | €282,819 | +€8,503 | +3.1% |
| Reserves | 13 | €167,845 | €176,348 | +€8,503 | +5.1% |
| Distributable reserves | 133 | €167,845 | €176,348 | +€8,503 | +5.1% |
| Profit (loss) carried forward | 14 | €106,471 | €106,471 | = | 0.0% |
| Amounts payable | 17/49 | €20,621 | €31,629 | +€11,008 | +53.4% |
| Amounts payable within one year | 42/48 | €20,621 | €31,393 | +€10,772 | +52.2% |
| Trade debts | 44 | €1,464 | €1,947 | +€483 | +33.0% |
| Suppliers | 440/4 | €1,464 | €1,947 | +€483 | +33.0% |
| Taxes, remuneration and social security | 45 | €7,023 | €2,166 | -€4,857 | -69.2% |
| Taxes | 450/3 | €3,542 | €2,166 | -€1,376 | -38.8% |
| Remuneration and social security | 454/9 | €3,481 | - | -€3,481 | |
| Other amounts payable | 47/48 | €12,134 | €27,280 | +€15,146 | +124.8% |
| Accrued charges and deferred income | 492/3 | - | €236 | +€236 | |
| Remuneration, social security and pensions | 62 | €22,134 | €22,592 | +€458 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,045 | €5,757 | +€2,712 | +89.0% |
| Other operating charges | 640/8 | €4,063 | €4,203 | +€139 | +3.4% |
| Gross operating margin | 9900 | €70,531 | €48,549 | -€21,982 | -31.2% |
| Operating profit (loss) | 9901 | €41,289 | €15,998 | -€25,291 | -61.3% |
| Financial income | 75/76B | €353 | €692 | +€339 | +95.9% |
| Recurring financial income | 75 | €353 | €692 | +€339 | +95.9% |
| Financial charges | 65/66B | €658 | €649 | -€9 | -1.4% |
| Recurring financial charges | 65 | €658 | €649 | -€9 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €40,985 | €16,042 | -€24,943 | -60.9% |
| Income taxes | 67/77 | €13,702 | €7,539 | -€6,162 | -45.0% |
| Profit (loss) for the period | 9904 | €27,283 | €8,503 | -€18,780 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,283 | €8,503 | -€18,780 | -68.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.