BALFIN: 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.
BALFIN
Largest movements
- Deferred charges and accrued income +€417,019
up €417,019 (+11579.8%), from €3,601 to €420,620
- Tangible fixed assets -€361,293
down €361,293 (-6.8%), from €5.3m to €5.0m
of which Land and buildings: -€237,319
- Cash -€251,156
down €251,156 (-57.8%), from €434,498 to €183,342
mainly Deferred charges and accrued income (-€417,019) and Debts after one year (-€90,165)
- Debts after one year -€90,165
down €90,165 (-1.9%), from €4.8m to €4.7m
- Current portion of long-term debt -€88,045
down €88,045 (-32.8%), from €268,824 to €180,779
- Gross operating margin +€66,661
up €66,661 (+19.8%), from €336,835 to €403,495
- Taxes +€35,082
up €35,082 (+16760.2%), from €209 to €35,292
- Write-downs +€21,792
up €21,792, from -€17,507 to €4,285
- Other operating charges -€16,206
down €16,206 (-30.8%), from €52,683 to €36,477
- Staff costs +€8,865
up €8,865 (+27.6%), from €32,090 to €40,955
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 | €5,815,289 | €5,598,110 | -€217,179 | -3.7% |
| Fixed assets | 21/28 | €5,328,423 | €4,967,131 | -€361,293 | -6.8% |
| Tangible fixed assets | 22/27 | €5,328,423 | €4,967,131 | -€361,293 | -6.8% |
| Land and buildings | 22 | €5,034,888 | €4,797,569 | -€237,319 | -4.7% |
| Other tangible fixed assets | 26 | €293,536 | €169,562 | -€123,974 | -42.2% |
| Current assets | 29/58 | €486,865 | €630,980 | +€144,114 | +29.6% |
| Amounts receivable within one year | 40/41 | €48,766 | €27,017 | -€21,749 | -44.6% |
| Trade receivables | 40 | €44,662 | €23,149 | -€21,512 | -48.2% |
| Other amounts receivable | 41 | €4,105 | €3,868 | -€237 | -5.8% |
| Cash at bank and in hand | 54/58 | €434,498 | €183,342 | -€251,156 | -57.8% |
| Deferred charges and accrued income | 490/1 | €3,601 | €420,620 | +€417,019 | +11579.8% |
| Total equity and liabilities | 10/49 | €5,815,289 | €5,598,110 | -€217,179 | -3.7% |
| Equity | 10/15 | €639,222 | €606,621 | -€32,601 | -5.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €577,722 | €545,121 | -€32,601 | -5.6% |
| Tax-exempt reserves | 132 | €22,388 | €20,988 | -€1,400 | -6.3% |
| Distributable reserves | 133 | €555,333 | €524,132 | -€31,201 | -5.6% |
| Provisions and deferred taxes | 16 | €5,597 | €5,247 | -€350 | -6.3% |
| Deferred taxes | 168 | €5,597 | €5,247 | -€350 | -6.3% |
| Amounts payable | 17/49 | €5,170,470 | €4,986,242 | -€184,227 | -3.6% |
| Amounts payable after more than one year | 17 | €4,821,119 | €4,730,954 | -€90,165 | -1.9% |
| Financial debts | 170/4 | €4,821,119 | €4,730,954 | -€90,165 | -1.9% |
| Amounts payable within one year | 42/48 | €328,932 | €233,831 | -€95,100 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €268,824 | €180,779 | -€88,045 | -32.8% |
| Trade debts | 44 | €14,917 | €7,744 | -€7,173 | -48.1% |
| Suppliers | 440/4 | €14,917 | €7,744 | -€7,173 | -48.1% |
| Taxes, remuneration and social security | 45 | €3,560 | €3,563 | +€2 | +0.1% |
| Taxes | 450/3 | €443 | €333 | -€110 | -24.8% |
| Remuneration and social security | 454/9 | €3,117 | €3,229 | +€112 | +3.6% |
| Other amounts payable | 47/48 | €41,630 | €41,745 | +€115 | +0.3% |
| Accrued charges and deferred income | 492/3 | €20,419 | €21,457 | +€1,038 | +5.1% |
| Non-recurring operating income | 76A | - | €40 | +€40 | |
| Remuneration, social security and pensions | 62 | €32,090 | €40,955 | +€8,865 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,301 | €189,766 | -€6,535 | -3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€17,507 | €4,285 | +€21,792 | |
| Other operating charges | 640/8 | €52,683 | €36,477 | -€16,206 | -30.8% |
| Gross operating margin | 9900 | €336,835 | €403,495 | +€66,661 | +19.8% |
| Operating profit (loss) | 9901 | €73,268 | €132,013 | +€58,744 | +80.2% |
| Financial income | 75/76B | €35 | €34 | -€1 | -3.3% |
| Recurring financial income | 75 | €35 | €34 | -€1 | -3.3% |
| Financial charges | 65/66B | €134,206 | €129,706 | -€4,500 | -3.4% |
| Recurring financial charges | 65 | €134,206 | €129,706 | -€4,500 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€60,903 | €2,341 | +€63,243 | |
| Transfer from deferred taxes | 780 | €350 | €350 | = | 0.0% |
| Income taxes | 67/77 | €209 | €35,292 | +€35,082 | +16760.2% |
| Profit (loss) for the period | 9904 | -€60,762 | -€32,601 | +€28,161 | +46.3% |
| Transfer from tax-exempt reserves | 789 | €1,400 | €1,400 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,362 | -€31,201 | +€28,161 | +47.4% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.