BALASA: 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.
BALASA
Largest movements
- Current investments +€160,000
new in 2025: €160,000
- Cash -€54,351
down €54,351 (-57.1%), from €95,255 to €40,904
mainly Contributions, distributions and other (-€450,000) and Current investments (-€160,000)
- Tangible fixed assets -€24,237
down €24,237 (-3.1%), from €771,605 to €747,368
of which Land and buildings: -€29,193
- Other debts +€382,248
up €382,248 (+3,822%), from €10,000 to €392,248
- Profit (loss) carried forward -€329,992
down €329,992 (-90.2%), from €366,010 to €36,018
- Tax, wage and social debts +€65,483
up €65,483 (+545%), from €12,007 to €77,491
of which Taxes: +€65,228
- Debts after one year -€43,333
down €43,333 (-9.5%), from €455,000 to €411,667
- Accrued charges and deferred income +€14,544
up €14,544 (+53.1%), from €27,386 to €41,929
- Gross operating margin -€7,338
down €7,338 (-2.6%), from €280,068 to €272,731
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 | €989,222 | €1,079,347 | +€90,125 | +9.1% |
| Fixed assets | 21/28 | €771,606 | €747,369 | -€24,237 | -3.1% |
| Intangible fixed assets | 21 | €1 | €0 | -€0 | -20.0% |
| Tangible fixed assets | 22/27 | €771,605 | €747,368 | -€24,237 | -3.1% |
| Land and buildings | 22 | €706,149 | €676,956 | -€29,193 | -4.1% |
| Plant, machinery and equipment | 23 | €56,331 | €61,388 | +€5,057 | +9.0% |
| Furniture and vehicles | 24 | €9,125 | €9,024 | -€101 | -1.1% |
| Current assets | 29/58 | €217,616 | €331,978 | +€114,362 | +52.6% |
| Amounts receivable within one year | 40/41 | €119,574 | €128,251 | +€8,676 | +7.3% |
| Trade receivables | 40 | €119,322 | €128,251 | +€8,928 | +7.5% |
| Other amounts receivable | 41 | €252 | - | -€252 | |
| Current investments | 50/53 | - | €160,000 | +€160,000 | |
| Cash at bank and in hand | 54/58 | €95,255 | €40,904 | -€54,351 | -57.1% |
| Deferred charges and accrued income | 490/1 | €2,787 | €2,823 | +€37 | +1.3% |
| Total equity and liabilities | 10/49 | €989,222 | €1,079,347 | +€90,125 | +9.1% |
| Equity | 10/15 | €427,845 | €97,853 | -€329,992 | -77.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €56,835 | €56,835 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,835 | €56,835 | = | 0.0% |
| Profit (loss) carried forward | 14 | €366,010 | €36,018 | -€329,992 | -90.2% |
| Amounts payable | 17/49 | €561,377 | €981,494 | +€420,117 | +74.8% |
| Amounts payable after more than one year | 17 | €455,000 | €411,667 | -€43,333 | -9.5% |
| Financial debts | 170/4 | €455,000 | €411,667 | -€43,333 | -9.5% |
| Amounts payable within one year | 42/48 | €78,991 | €527,898 | +€448,906 | +568% |
| Current portion of amounts payable after more than one year | 42 | €43,333 | €43,333 | = | 0.0% |
| Trade debts | 44 | €13,651 | €14,826 | +€1,175 | +8.6% |
| Suppliers | 440/4 | €13,651 | €14,826 | +€1,175 | +8.6% |
| Taxes, remuneration and social security | 45 | €12,007 | €77,491 | +€65,483 | +545% |
| Taxes | 450/3 | €3,284 | €68,512 | +€65,228 | +1,986% |
| Remuneration and social security | 454/9 | €8,723 | €8,978 | +€255 | +2.9% |
| Other amounts payable | 47/48 | €10,000 | €392,248 | +€382,248 | +3,822% |
| Accrued charges and deferred income | 492/3 | €27,386 | €41,929 | +€14,544 | +53.1% |
| Remuneration, social security and pensions | 62 | €64,078 | €66,500 | +€2,421 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,161 | €43,565 | -€1,596 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,199 | - | -€1,199 | |
| Other operating charges | 640/8 | €5,333 | €4,515 | -€818 | -15.3% |
| Gross operating margin | 9900 | €280,068 | €272,731 | -€7,338 | -2.6% |
| Operating profit (loss) | 9901 | €164,297 | €158,150 | -€6,146 | -3.7% |
| Financial income | 75/76B | €941 | €2,030 | +€1,089 | +116% |
| Recurring financial income | 75 | €941 | €2,030 | +€1,089 | +116% |
| Financial charges | 65/66B | €5,045 | €4,755 | -€290 | -5.7% |
| Recurring financial charges | 65 | €5,045 | €4,755 | -€290 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €160,193 | €155,425 | -€4,768 | -3.0% |
| Income taxes | 67/77 | €35,816 | €35,417 | -€399 | -1.1% |
| Profit (loss) for the period | 9904 | €124,377 | €120,008 | -€4,369 | -3.5% |
| Transfer to tax-exempt reserves | 689 | €56,835 | - | -€56,835 | |
| Profit (loss) for the period to be appropriated | 9905 | €67,542 | €120,008 | +€52,466 | +77.7% |
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 13 October 2026 via checked.be.