BALLENA: what changed
Two fiscal 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.
BALLENA
Largest movements
- Cash -€25,000
down €25,000 (-99.7%), from €25,080 to €80
mainly Investment in fixed assets (net) (-€53,744) and Net result for the year (-€13,554)
- Intangible fixed assets -€6,398
down €6,398 (-27.2%), from €23,496 to €17,098
- Profit (loss) carried forward -€13,554
down €13,554 (-9.8%), from -€137,847 to -€151,402
- Other debts -€13,013
down €13,013 (-13.2%), from €98,916 to €85,903
- Debts after one year -€6,190
down €6,190 (-4.5%), from €137,190 to €131,000
of which Financial debts: -€6,190
- Current portion of long-term debt -€5,812
down €5,812 (-48.4%), from €12,002 to €6,190
- Short-term financial debts +€4,632
up €4,632 (+2787.2%), from €166 to €4,798
- Gross operating margin +€50,741
up €50,741 (+2449.7%), from €2,071 to €52,813
- Depreciation +€12,432
up €12,432 (+25.0%), from €49,807 to €62,239
- Financial charges -€2,256
down €2,256 (-67.2%), from €3,357 to €1,101
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 | €345,177 | €312,193 | -€32,983 | -9.6% |
| Fixed assets | 21/28 | €293,730 | €285,234 | -€8,496 | -2.9% |
| Intangible fixed assets | 21 | €23,496 | €17,098 | -€6,398 | -27.2% |
| Tangible fixed assets | 22/27 | €270,234 | €268,136 | -€2,098 | -0.8% |
| Land and buildings | 22 | €129,074 | €116,213 | -€12,861 | -10.0% |
| Plant, machinery and equipment | 23 | €97,074 | €116,998 | +€19,924 | +20.5% |
| Furniture and vehicles | 24 | €24,587 | €17,692 | -€6,894 | -28.0% |
| Other tangible fixed assets | 26 | €19,499 | €17,233 | -€2,266 | -11.6% |
| Current assets | 29/58 | €51,447 | €26,959 | -€24,488 | -47.6% |
| Amounts receivable within one year | 40/41 | €21,730 | €22,230 | +€501 | +2.3% |
| Trade receivables | 40 | €8,119 | €10,334 | +€2,215 | +27.3% |
| Other amounts receivable | 41 | €13,611 | €11,896 | -€1,715 | -12.6% |
| Cash at bank and in hand | 54/58 | €25,080 | €80 | -€25,000 | -99.7% |
| Deferred charges and accrued income | 490/1 | €4,637 | €4,649 | +€11 | +0.2% |
| Total equity and liabilities | 10/49 | €345,177 | €312,193 | -€32,983 | -9.6% |
| Equity | 10/15 | €94,776 | €81,221 | -€13,554 | -14.3% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €12,623 | €12,623 | = | 0.0% |
| Distributable reserves | 133 | €12,623 | €12,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€137,847 | -€151,402 | -€13,554 | -9.8% |
| Amounts payable | 17/49 | €250,401 | €230,972 | -€19,429 | -7.8% |
| Amounts payable after more than one year | 17 | €137,190 | €131,000 | -€6,190 | -4.5% |
| Financial debts | 170/4 | €6,190 | €0 | -€6,190 | -100.0% |
| Other amounts payable | 178/9 | €131,000 | €131,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €113,210 | €99,201 | -€14,009 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €12,002 | €6,190 | -€5,812 | -48.4% |
| Financial debts | 43 | €166 | €4,798 | +€4,632 | +2787.2% |
| Credit institutions | 430/8 | €166 | €4,798 | +€4,632 | +2787.2% |
| Trade debts | 44 | €1,223 | €1,708 | +€485 | +39.6% |
| Suppliers | 440/4 | €1,223 | €1,708 | +€485 | +39.6% |
| Taxes, remuneration and social security | 45 | €903 | €601 | -€302 | -33.4% |
| Taxes | 450/3 | €903 | €601 | -€302 | -33.4% |
| Other amounts payable | 47/48 | €98,916 | €85,903 | -€13,013 | -13.2% |
| Accrued charges and deferred income | 492/3 | - | €771 | +€771 | |
| Non-recurring operating income | 76A | €62 | €6,164 | +€6,102 | +9836.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,807 | €62,239 | +€12,432 | +25.0% |
| Other operating charges | 640/8 | €2,667 | €2,887 | +€219 | +8.2% |
| Gross operating margin | 9900 | €2,071 | €52,813 | +€50,741 | +2449.7% |
| Operating profit (loss) | 9901 | -€50,403 | -€12,313 | +€38,090 | +75.6% |
| Financial income | 75/76B | €16 | €0 | -€16 | -99.6% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -99.6% |
| Financial charges | 65/66B | €3,357 | €1,101 | -€2,256 | -67.2% |
| Recurring financial charges | 65 | €3,357 | €1,101 | -€2,256 | -67.2% |
| Profit (loss) for the period before taxes | 9903 | -€53,744 | -€13,414 | +€40,330 | +75.0% |
| Income taxes | 67/77 | €145 | €140 | -€5 | -3.4% |
| Profit (loss) for the period | 9904 | -€53,889 | -€13,554 | +€40,335 | +74.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,889 | -€13,554 | +€40,335 | +74.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.