BALTHAZAR RESTO: 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.
BALTHAZAR RESTO
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€52,432
up €52,432 (+65.6%), from €79,950 to €132,382
- Tax, wage and social debts -€49,591
down €49,591 (-19.0%), from €260,988 to €211,397
of which Remuneration and social security: -€49,687
- Debts after one year -€45,259
down €45,259 (-27.1%), from €167,008 to €121,749
- Trade debts -€37,211
down €37,211 (-15.9%), from €234,237 to €197,027
- Short-term financial debts +€32,614
new in 2025: €32,614
- Gross operating margin +€140,383
up €140,383 (+18.5%), from €757,850 to €898,233
- Staff costs +€32,022
up €32,022 (+4.5%), from €705,496 to €737,518
- Other operating charges +€22,378
up €22,378 (+843.4%), from €2,653 to €25,031
- Depreciation +€15,216
up €15,216 (+22.1%), from €68,973 to €84,189
- Financial charges -€11,353
down €11,353 (-30.0%), from €37,784 to €26,431
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 | €706,278 | €701,965 | -€4,313 | -0.6% |
| Formation expenses | 20 | €1,306 | €852 | -€454 | -34.8% |
| Fixed assets | 21/28 | €608,452 | €603,615 | -€4,836 | -0.8% |
| Intangible fixed assets | 21 | €881 | €636 | -€245 | -27.8% |
| Tangible fixed assets | 22/27 | €607,571 | €602,979 | -€4,592 | -0.8% |
| Plant, machinery and equipment | 23 | €122,657 | €107,744 | -€14,913 | -12.2% |
| Furniture and vehicles | 24 | €178,443 | €184,698 | +€6,254 | +3.5% |
| Other tangible fixed assets | 26 | €306,471 | €310,538 | +€4,066 | +1.3% |
| Current assets | 29/58 | €96,520 | €97,498 | +€978 | +1.0% |
| Stocks and contracts in progress | 3 | €78,298 | €82,325 | +€4,027 | +5.1% |
| Stocks | 30/36 | €78,298 | €82,325 | +€4,027 | +5.1% |
| Amounts receivable within one year | 40/41 | €7,269 | €8,177 | +€908 | +12.5% |
| Trade receivables | 40 | €7,269 | €8,177 | +€908 | +12.5% |
| Cash at bank and in hand | 54/58 | €3,448 | €2,473 | -€976 | -28.3% |
| Deferred charges and accrued income | 490/1 | €7,505 | €4,524 | -€2,982 | -39.7% |
| Total equity and liabilities | 10/49 | €706,278 | €701,965 | -€4,313 | -0.6% |
| Equity | 10/15 | -€143,788 | -€116,667 | +€27,122 | +18.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,788 | -€136,667 | +€27,122 | +16.6% |
| Amounts payable | 17/49 | €850,066 | €818,631 | -€31,434 | -3.7% |
| Amounts payable after more than one year | 17 | €167,008 | €121,749 | -€45,259 | -27.1% |
| Financial debts | 170/4 | €167,008 | €121,749 | -€45,259 | -27.1% |
| Amounts payable within one year | 42/48 | €683,058 | €696,883 | +€13,825 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €67,882 | €86,814 | +€18,932 | +27.9% |
| Financial debts | 43 | - | €32,614 | +€32,614 | |
| Credit institutions | 430/8 | - | €32,614 | +€32,614 | |
| Trade debts | 44 | €234,237 | €197,027 | -€37,211 | -15.9% |
| Suppliers | 440/4 | €234,237 | €197,027 | -€37,211 | -15.9% |
| Advances received on contracts in progress | 46 | €40,000 | €36,649 | -€3,351 | -8.4% |
| Taxes, remuneration and social security | 45 | €260,988 | €211,397 | -€49,591 | -19.0% |
| Taxes | 450/3 | €83,427 | €83,522 | +€96 | +0.1% |
| Remuneration and social security | 454/9 | €177,562 | €127,875 | -€49,687 | -28.0% |
| Other amounts payable | 47/48 | €79,950 | €132,382 | +€52,432 | +65.6% |
| Remuneration, social security and pensions | 62 | €705,496 | €737,518 | +€32,022 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,973 | €84,189 | +€15,216 | +22.1% |
| Other operating charges | 640/8 | €2,653 | €25,031 | +€22,378 | +843.4% |
| Gross operating margin | 9900 | €757,850 | €898,233 | +€140,383 | +18.5% |
| Operating profit (loss) | 9901 | -€19,272 | €51,494 | +€70,767 | |
| Financial income | 75/76B | €2,333 | €2,588 | +€256 | +11.0% |
| Recurring financial income | 75 | €2,333 | €2,588 | +€256 | +11.0% |
| Financial charges | 65/66B | €37,784 | €26,431 | -€11,353 | -30.0% |
| Recurring financial charges | 65 | €37,784 | €26,431 | -€11,353 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | -€54,724 | €27,652 | +€82,376 | |
| Income taxes | 67/77 | - | €530 | +€530 | |
| Profit (loss) for the period | 9904 | -€54,724 | €27,122 | +€81,845 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,724 | €27,122 | +€81,845 |
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 12 October 2026 via checked.be.