BALMORAL VENTURES: 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.
What changed
BALMORAL VENTURES
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€57,208
2024 · -€30,904+€88,112
Equity
€835,638
2024 · €778,430+€57,208
Cash
€129,151
2024 · €76,047+€53,104
Balance sheet total
€844,746
2024 · €781,092+€63,654
Largest movements
Assets
- Cash +€53,104
up €53,104 (+69.8%), from €76,047 to €129,151
mainly Net result for the year (+€57,208) and Tax, wage and social debts (+€6,879)
- Receivables within one year +€10,984
up €10,984 (+125%), from €8,816 to €19,800
of which Trade receivables: +€12,100
Equity and liabilities
- Reserves +€57,208
up €57,208 (+17.7%), from €322,450 to €379,658
of which Distributable reserves: +€57,208
Income statement
- Turnover +€105,083
up €105,083, from €0 to €105,083
- Gross operating margin +€87,966
up €87,966, from -€16,248 to €71,718
- Financial charges -€54,151
down €54,151 (-99.8%), from €54,237 to €86
of which Financial charges: -€54,151
- Financial income -€42,107
down €42,107 (-99.7%), from €42,242 to €135
of which Financial income: -€42,107
- Taxes +€12,716
up €12,716 (+1,399%), from €909 to €13,625
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.
Result 2024
-€30,904
Gross operating margin
+€87,966
Depreciation
+€1
Other operating charges
+€817
Financial income
-€42,107
Financial charges
+€54,151
Taxes
-€12,716
Result 2025
€57,208
raises the resultlowers the result
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.
From operations
+€53,104
Investment
€0
Financing
€0
Cash 2024
€76,047
From operations (derived)
+€53,104
Net result for the year
+€57,208
Depreciation
+€434
Receivables within one year
-€10,984
Trade debts
-€433
Tax, wage and social debts
+€6,879
Cash 2025
€129,151
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €781,092 | €844,746 | +€63,654 | +8.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €3,159 | €2,725 | -€434 | -13.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €3,159 | €2,725 | -€434 | -13.7% |
| Land and buildings | 22 | €3,159 | €2,725 | -€434 | -13.7% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Assets under construction and advance payments | 27 | €0 | €0 | = | |
| Financial fixed assets | 28 | €0 | €0 | = | |
| Current assets | 29/58 | €777,933 | €842,021 | +€64,088 | +8.2% |
| Amounts receivable after more than one year | 29 | €0 | €0 | = | |
| Trade receivables | 290 | €0 | €0 | = | |
| Other amounts receivable | 291 | €0 | €0 | = | |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Stocks | 30/36 | €0 | €0 | = | |
| Contracts in progress | 37 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €8,816 | €19,800 | +€10,984 | +125% |
| Trade receivables | 40 | €0 | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €8,816 | €7,700 | -€1,116 | -12.7% |
| Current investments | 50/53 | €693,070 | €693,070 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €76,047 | €129,151 | +€53,104 | +69.8% |
| Deferred charges and accrued income | 490/1 | €0 | €0 | = | |
| Total equity and liabilities | 10/49 | €781,092 | €844,746 | +€63,654 | +8.1% |
| Equity | 10/15 | €778,430 | €835,638 | +€57,208 | +7.3% |
| Contributions | 10/11 | €284,100 | €284,100 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Uncalled capital | 101 | €0 | - | = | |
| Contributions outside capital | 11 | €284,100 | - | -€284,100 | |
| Share premium | 1100/10 | €284,100 | - | -€284,100 | |
| Other | 1109/19 | €0 | - | = | |
| Revaluation surpluses | 12 | €0 | €0 | = | |
| Reserves | 13 | €322,450 | €379,658 | +€57,208 | +17.7% |
| Non-distributable reserves | 130/1 | €28,410 | €28,410 | = | 0.0% |
| Legal reserve | 130 | €7,857 | - | -€7,857 | |
| Reserves not available under the articles | 1311 | €20,553 | €28,410 | +€7,857 | +38.2% |
| Own shares acquired | 1312 | €0 | €0 | = | |
| Financial assistance | 1313 | €0 | €0 | = | |
| Other | 1319 | €0 | €0 | = | |
| Tax-exempt reserves | 132 | €0 | €0 | = | |
| Distributable reserves | 133 | €294,040 | €351,248 | +€57,208 | +19.5% |
| Profit (loss) carried forward | 14 | €171,880 | €171,880 | = | 0.0% |
| Investment grants | 15 | €0 | €0 | = | |
| Advance to shareholders on the distribution of net assets | 19 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | €0 | = | |
| Provisions for liabilities and charges | 160/5 | €0 | €0 | = | |
| Pensions and similar obligations | 160 | €0 | €0 | = | |
| Taxes | 161 | €0 | €0 | = | |
| Major repairs and maintenance | 162 | €0 | €0 | = | |
| Environmental obligations | 163 | €0 | €0 | = | |
| Other liabilities and charges | 164/5 | €0 | €0 | = | |
| Deferred taxes | 168 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,662 | €9,108 | +€6,446 | +242% |
| Amounts payable after more than one year | 17 | €0 | €0 | = | |
| Financial debts | 170/4 | €0 | €0 | = | |
| Trade debts | 175 | €0 | €0 | = | |
| Advances received on contracts in progress | 176 | €0 | €0 | = | |
| Other amounts payable | 178/9 | €0 | €0 | = | |
| Amounts payable within one year | 42/48 | €2,662 | €9,108 | +€6,446 | +242% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Other loans | 439 | €0 | €0 | = | |
| Trade debts | 44 | €1,095 | €662 | -€433 | -39.5% |
| Suppliers | 440/4 | €1,095 | €662 | -€433 | -39.5% |
| Bills of exchange payable | 441 | €0 | €0 | = | |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €1,567 | €8,446 | +€6,879 | +439% |
| Taxes | 450/3 | €1,567 | €8,446 | +€6,879 | +439% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Turnover | 70 | €0 | €105,083 | +€105,083 | |
| Non-recurring operating income | 76A | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €24,023 | €33,365 | +€9,342 | +38.9% |
| Remuneration, social security and pensions | 62 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €435 | €434 | -€1 | -0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €0 | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | €0 | = | |
| Other operating charges | 640/8 | €1,317 | €500 | -€817 | -62.0% |
| Non-recurring operating charges | 66A | €0 | €0 | = | |
| Gross operating margin | 9900 | -€16,248 | €71,718 | +€87,966 | |
| Operating profit (loss) | 9901 | -€18,000 | €70,784 | +€88,784 | |
| Financial income | 75/76B | €42,242 | €135 | -€42,107 | -99.7% |
| Recurring financial income | 75 | €42,242 | €135 | -€42,107 | -99.7% |
| Non-recurring financial income | 76B | €0 | €0 | = | |
| Financial charges | 65/66B | €54,237 | €86 | -€54,151 | -99.8% |
| Recurring financial charges | 65 | €54,237 | €86 | -€54,151 | -99.8% |
| Non-recurring financial charges | 66B | €0 | €0 | = | |
| Profit (loss) for the period before taxes | 9903 | -€29,995 | €70,833 | +€100,828 | |
| Transfer from deferred taxes | 780 | €0 | €0 | = | |
| Transfer to deferred taxes | 680 | €0 | €0 | = | |
| Income taxes | 67/77 | €909 | €13,625 | +€12,716 | +1,399% |
| Profit (loss) for the period | 9904 | -€30,904 | €57,208 | +€88,112 | |
| Transfer from tax-exempt reserves | 789 | €0 | €0 | = | |
| Transfer to tax-exempt reserves | 689 | €0 | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,904 | €57,208 | +€88,112 |
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 14 October 2026 via checked.be.