BALENCIO: 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.
BALENCIO
Largest movements
- Receivables within one year +€49,523
up €49,523 (+19.4%), from €255,911 to €305,434
- Deferred charges and accrued income -€25,000
down €25,000 (-46.2%), from €54,116 to €29,116
- Other debts -€180,209
down €180,209 (-43.0%), from €418,738 to €238,530
- Debts after one year +€140,806
up €140,806 (+54.0%), from €260,652 to €401,459
of which Other amounts payable: +€207,011
- Investment grants -€75,954
down €75,954 (-25.0%), from €303,817 to €227,863
- Trade debts +€69,915
up €69,915 (+39.0%), from €179,090 to €249,005
- Current portion of long-term debt +€33,892
up €33,892 (+31.9%), from €106,176 to €140,068
- Gross operating margin +€119,742
up €119,742 (+17.6%), from €680,345 to €800,087
- Other operating charges -€114,670
down €114,670 (-80.4%), from €142,559 to €27,889
- Depreciation +€38,963
up €38,963 (+12.4%), from €314,644 to €353,606
- Staff costs +€14,724
up €14,724 (+3.6%), from €410,682 to €425,406
- Financial charges +€12,923
up €12,923 (+42.8%), from €30,203 to €43,126
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 | €1,686,699 | €1,727,886 | +€41,187 | +2.4% |
| Fixed assets | 21/28 | €1,363,202 | €1,365,244 | +€2,042 | +0.1% |
| Intangible fixed assets | 21 | €1,338,971 | €1,346,380 | +€7,410 | +0.6% |
| Tangible fixed assets | 22/27 | €22,931 | €17,564 | -€5,367 | -23.4% |
| Plant, machinery and equipment | 23 | €1,421 | €474 | -€947 | -66.7% |
| Other tangible fixed assets | 26 | €21,510 | €17,090 | -€4,420 | -20.5% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €323,497 | €362,642 | +€39,145 | +12.1% |
| Amounts receivable within one year | 40/41 | €255,911 | €305,434 | +€49,523 | +19.4% |
| Trade receivables | 40 | €255,911 | €305,434 | +€49,523 | +19.4% |
| Cash at bank and in hand | 54/58 | €13,470 | €28,092 | +€14,622 | +109% |
| Deferred charges and accrued income | 490/1 | €54,116 | €29,116 | -€25,000 | -46.2% |
| Total equity and liabilities | 10/49 | €1,686,699 | €1,727,886 | +€41,187 | +2.4% |
| Equity | 10/15 | €436,811 | €383,933 | -€52,878 | -12.1% |
| Contributions | 10/11 | €62,525 | €62,525 | = | 0.0% |
| Capital | 10 | €62,525 | €62,525 | = | 0.0% |
| Issued capital | 100 | €62,525 | €62,525 | = | 0.0% |
| Reserves | 13 | €6,253 | €6,253 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,253 | €6,253 | = | 0.0% |
| Legal reserve | 130 | €6,253 | €6,253 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,216 | €87,293 | +€23,076 | +35.9% |
| Investment grants | 15 | €303,817 | €227,863 | -€75,954 | -25.0% |
| Amounts payable | 17/49 | €1,249,888 | €1,343,953 | +€94,065 | +7.5% |
| Amounts payable after more than one year | 17 | €260,652 | €401,459 | +€140,806 | +54.0% |
| Financial debts | 170/4 | €154,316 | €88,111 | -€66,205 | -42.9% |
| Other amounts payable | 178/9 | €106,336 | €313,348 | +€207,011 | +195% |
| Amounts payable within one year | 42/48 | €987,456 | €938,818 | -€48,638 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €106,176 | €140,068 | +€33,892 | +31.9% |
| Financial debts | 43 | €200,000 | €221,454 | +€21,454 | +10.7% |
| Credit institutions | 430/8 | €200,000 | €221,454 | +€21,454 | +10.7% |
| Trade debts | 44 | €179,090 | €249,005 | +€69,915 | +39.0% |
| Suppliers | 440/4 | €179,090 | €249,005 | +€69,915 | +39.0% |
| Taxes, remuneration and social security | 45 | €83,452 | €89,762 | +€6,310 | +7.6% |
| Taxes | 450/3 | €45,568 | €49,323 | +€3,755 | +8.2% |
| Remuneration and social security | 454/9 | €37,884 | €40,439 | +€2,554 | +6.7% |
| Other amounts payable | 47/48 | €418,738 | €238,530 | -€180,209 | -43.0% |
| Accrued charges and deferred income | 492/3 | €1,780 | €3,676 | +€1,897 | +107% |
| Remuneration, social security and pensions | 62 | €410,682 | €425,406 | +€14,724 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €314,644 | €353,606 | +€38,963 | +12.4% |
| Other operating charges | 640/8 | €142,559 | €27,889 | -€114,670 | -80.4% |
| Non-recurring operating charges | 66A | - | €1,976 | +€1,976 | |
| Gross operating margin | 9900 | €680,345 | €800,087 | +€119,742 | +17.6% |
| Operating profit (loss) | 9901 | -€187,540 | -€8,790 | +€178,750 | +95.3% |
| Financial income | 75/76B | €82,249 | €75,956 | -€6,292 | -7.7% |
| Recurring financial income | 75 | €82,249 | €75,956 | -€6,292 | -7.7% |
| Financial charges | 65/66B | €30,203 | €43,126 | +€12,923 | +42.8% |
| Recurring financial charges | 65 | €30,203 | €43,126 | +€12,923 | +42.8% |
| Profit (loss) for the period before taxes | 9903 | -€135,494 | €24,040 | +€159,534 | |
| Income taxes | 67/77 | €931 | €964 | +€33 | +3.6% |
| Profit (loss) for the period | 9904 | -€136,425 | €23,076 | +€159,501 | |
| Profit (loss) for the period to be appropriated | 9905 | -€136,425 | €23,076 | +€159,501 |
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 15 October 2026 via checked.be.