BALEN RETAIL: 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.
BALEN RETAIL
Largest movements
- Tangible fixed assets +€221,693
up €221,693 (+150%), from €147,989 to €369,682
of which Leasing and similar rights: +€239,378
- Current investments -€59,910
down €59,910 (-99.9%), from €60,000 to €90
- Cash -€36,511
down €36,511 (-26.8%), from €136,331 to €99,819
mainly Investment in fixed assets (net) (-€282,051) and Trade debts (-€97,107)
- Intangible fixed assets -€32,500
down €32,500 (-11.6%), from €278,989 to €246,489
- Stocks and contracts -€22,419
down €22,419 (-9.6%), from €233,420 to €211,001
- Debts after one year +€175,962
up €175,962 (+31.9%), from €551,395 to €727,357
of which Financial debts: +€119,217
- Trade debts -€97,107
down €97,107 (-56.0%), from €173,477 to €76,371
- Profit (loss) carried forward -€40,827
new in 2025: -€40,827
- Current portion of long-term debt +€33,806
up €33,806 (+44.4%), from €76,093 to €109,899
- Gross operating margin -€180,660
down €180,660 (-26.3%), from €687,282 to €506,622
- Staff costs -€122,073
down €122,073 (-22.9%), from €532,455 to €410,382
- Depreciation +€12,154
up €12,154 (+14.8%), from €82,277 to €94,430
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 | €902,313 | €978,580 | +€76,267 | +8.5% |
| Formation expenses | 20 | €6,776 | €4,953 | -€1,823 | -26.9% |
| Fixed assets | 21/28 | €427,128 | €616,572 | +€189,443 | +44.4% |
| Intangible fixed assets | 21 | €278,989 | €246,489 | -€32,500 | -11.6% |
| Tangible fixed assets | 22/27 | €147,989 | €369,682 | +€221,693 | +150% |
| Plant, machinery and equipment | 23 | €133,909 | €113,608 | -€20,301 | -15.2% |
| Leasing and similar rights | 25 | €14,080 | €253,458 | +€239,378 | +1,700% |
| Other tangible fixed assets | 26 | - | €2,616 | +€2,616 | |
| Financial fixed assets | 28 | €150 | €400 | +€250 | +167% |
| Current assets | 29/58 | €468,409 | €357,055 | -€111,354 | -23.8% |
| Stocks and contracts in progress | 3 | €233,420 | €211,001 | -€22,419 | -9.6% |
| Stocks | 30/36 | €233,420 | €211,001 | -€22,419 | -9.6% |
| Amounts receivable within one year | 40/41 | €21,098 | €29,928 | +€8,830 | +41.9% |
| Trade receivables | 40 | €15,890 | €15,739 | -€151 | -1.0% |
| Other amounts receivable | 41 | €5,208 | €14,189 | +€8,981 | +172% |
| Current investments | 50/53 | €60,000 | €90 | -€59,910 | -99.9% |
| Cash at bank and in hand | 54/58 | €136,331 | €99,819 | -€36,511 | -26.8% |
| Deferred charges and accrued income | 490/1 | €17,560 | €16,216 | -€1,344 | -7.7% |
| Total equity and liabilities | 10/49 | €902,313 | €978,580 | +€76,267 | +8.5% |
| Equity | 10/15 | €34,437 | -€6,390 | -€40,827 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | €10,000 | - | -€10,000 | |
| Other | 1109/19 | €10,000 | - | -€10,000 | |
| Reserves | 13 | €24,437 | €24,437 | = | 0.0% |
| Distributable reserves | 133 | €24,437 | €24,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€40,827 | -€40,827 | |
| Amounts payable | 17/49 | €867,876 | €984,969 | +€117,093 | +13.5% |
| Amounts payable after more than one year | 17 | €551,395 | €727,357 | +€175,962 | +31.9% |
| Financial debts | 170/4 | €151,438 | €270,655 | +€119,217 | +78.7% |
| Trade debts | 175 | €104,957 | €171,702 | +€66,745 | +63.6% |
| Other amounts payable | 178/9 | €295,000 | €285,000 | -€10,000 | -3.4% |
| Amounts payable within one year | 42/48 | €314,861 | €256,206 | -€58,655 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €76,093 | €109,899 | +€33,806 | +44.4% |
| Trade debts | 44 | €173,477 | €76,371 | -€97,107 | -56.0% |
| Suppliers | 440/4 | €173,477 | €76,371 | -€97,107 | -56.0% |
| Taxes, remuneration and social security | 45 | €61,573 | €68,624 | +€7,051 | +11.5% |
| Taxes | 450/3 | €5,578 | €5,568 | -€10 | -0.2% |
| Remuneration and social security | 454/9 | €55,995 | €63,056 | +€7,062 | +12.6% |
| Other amounts payable | 47/48 | €3,719 | €1,313 | -€2,406 | -64.7% |
| Accrued charges and deferred income | 492/3 | €1,620 | €1,406 | -€214 | -13.2% |
| Remuneration, social security and pensions | 62 | €532,455 | €410,382 | -€122,073 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,277 | €94,430 | +€12,154 | +14.8% |
| Other operating charges | 640/8 | €2,070 | €1,788 | -€282 | -13.6% |
| Gross operating margin | 9900 | €687,282 | €506,622 | -€180,660 | -26.3% |
| Operating profit (loss) | 9901 | €70,480 | €21 | -€70,459 | -100.0% |
| Financial income | 75/76B | €3,390 | €84 | -€3,307 | -97.5% |
| Recurring financial income | 75 | €3,390 | €84 | -€3,307 | -97.5% |
| Financial charges | 65/66B | €43,559 | €40,931 | -€2,628 | -6.0% |
| Recurring financial charges | 65 | €43,559 | €40,931 | -€2,628 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €30,312 | -€40,827 | -€71,138 | |
| Income taxes | 67/77 | €5,874 | €0 | -€5,874 | -100% |
| Profit (loss) for the period | 9904 | €24,437 | -€40,827 | -€65,264 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,437 | -€40,827 | -€65,264 |
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 26 October 2026 via checked.be.