BALKAN GROUP: 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.
BALKAN GROUP
Largest movements
- Receivables within one year +€59,839
up €59,839 (+95.6%), from €62,584 to €122,423
of which Other amounts receivable: +€51,269
- Tangible fixed assets +€8,442
up €8,442 (+18.4%), from €45,805 to €54,247
of which Other tangible fixed assets: +€7,681
- Cash +€4,718
up €4,718 (+92.6%), from €5,098 to €9,816
mainly Net result for the year (+€84,024) and Depreciation (+€8,070)
- Profit (loss) carried forward +€84,024
up €84,024 (+157%), from €53,371 to €137,395
- Trade debts -€14,951
down €14,951 (-30.3%), from €49,392 to €34,441
- Tax, wage and social debts +€3,677
up €3,677 (+27.8%), from €13,221 to €16,898
of which Taxes: +€3,618
- Gross operating margin +€49,587
up €49,587 (+32.7%), from €151,599 to €201,186
- Staff costs +€25,914
up €25,914 (+30.7%), from €84,448 to €110,362
- Financial income +€6,709
up €6,709 (+4,662%), from €144 to €6,853
of which Financial income: +€4,837
- Financial charges +€4,181
up €4,181 (+1,122%), from €373 to €4,554
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 | €117,985 | €190,734 | +€72,749 | +61.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €49,503 | €57,945 | +€8,442 | +17.1% |
| Tangible fixed assets | 22/27 | €45,805 | €54,247 | +€8,442 | +18.4% |
| Plant, machinery and equipment | 23 | €35,388 | €39,487 | +€4,099 | +11.6% |
| Furniture and vehicles | 24 | €4,921 | €1,583 | -€3,338 | -67.8% |
| Other tangible fixed assets | 26 | €5,496 | €13,177 | +€7,681 | +140% |
| Financial fixed assets | 28 | €3,698 | €3,698 | = | 0.0% |
| Current assets | 29/58 | €68,481 | €132,789 | +€64,307 | +93.9% |
| Stocks and contracts in progress | 3 | €800 | €550 | -€250 | -31.3% |
| Stocks | 30/36 | €800 | €550 | -€250 | -31.3% |
| Amounts receivable within one year | 40/41 | €62,584 | €122,423 | +€59,839 | +95.6% |
| Trade receivables | 40 | €9,256 | €17,827 | +€8,571 | +92.6% |
| Other amounts receivable | 41 | €53,328 | €104,596 | +€51,269 | +96.1% |
| Cash at bank and in hand | 54/58 | €5,098 | €9,816 | +€4,718 | +92.6% |
| Total equity and liabilities | 10/49 | €117,985 | €190,734 | +€72,749 | +61.7% |
| Equity | 10/15 | €55,371 | €139,395 | +€84,024 | +152% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €2,000 | +€2,000 | |
| Other | 1109/19 | - | €2,000 | +€2,000 | |
| Profit (loss) carried forward | 14 | €53,371 | €137,395 | +€84,024 | +157% |
| Amounts payable | 17/49 | €62,614 | €51,339 | -€11,275 | -18.0% |
| Amounts payable within one year | 42/48 | €62,614 | €51,339 | -€11,275 | -18.0% |
| Trade debts | 44 | €49,392 | €34,441 | -€14,951 | -30.3% |
| Suppliers | 440/4 | €49,392 | €34,441 | -€14,951 | -30.3% |
| Taxes, remuneration and social security | 45 | €13,221 | €16,898 | +€3,677 | +27.8% |
| Taxes | 450/3 | €11,602 | €15,219 | +€3,618 | +31.2% |
| Remuneration and social security | 454/9 | €1,620 | €1,679 | +€59 | +3.6% |
| Non-recurring operating income | 76A | €2,625 | - | -€2,625 | |
| Remuneration, social security and pensions | 62 | €84,448 | €110,362 | +€25,914 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,474 | €8,070 | -€404 | -4.8% |
| Other operating charges | 640/8 | €392 | €1,029 | +€637 | +162% |
| Gross operating margin | 9900 | €151,599 | €201,186 | +€49,587 | +32.7% |
| Operating profit (loss) | 9901 | €58,285 | €81,725 | +€23,440 | +40.2% |
| Financial income | 75/76B | €144 | €6,853 | +€6,709 | +4,662% |
| Recurring financial income | 75 | €144 | €4,981 | +€4,837 | +3,361% |
| Non-recurring financial income | 76B | €144 | €1,872 | +€1,728 | +1,201% |
| Financial charges | 65/66B | €373 | €4,554 | +€4,181 | +1,122% |
| Recurring financial charges | 65 | €373 | €4,554 | +€4,181 | +1,122% |
| Profit (loss) for the period before taxes | 9903 | €58,056 | €84,024 | +€25,968 | +44.7% |
| Profit (loss) for the period | 9904 | €58,056 | €84,024 | +€25,968 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €58,056 | €84,024 | +€25,968 | +44.7% |
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 22 October 2026 via checked.be.