BARZEELE: 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.
BARZEELE
Largest movements
- Tangible fixed assets -€167,470
down €167,470 (-22.1%), from €757,858 to €590,388
of which Land and buildings: -€130,663
- Cash -€131,806
down €131,806 (-50.2%), from €262,808 to €131,002
mainly Trade debts (-€225,568) and Receivables within one year (-€77,630)
- Receivables within one year +€77,630
up €77,630 (+23.5%), from €330,500 to €408,131
of which Other amounts receivable: +€79,429
- Trade debts -€225,568
down €225,568 (-85.4%), from €264,026 to €38,458
- Debts after one year +€42,544
up €42,544 (+137.6%), from €30,908 to €73,453
- Reserves -€34,050
down €34,050 (-4.6%), from €737,273 to €703,223
- Tax, wage and social debts -€27,413
down €27,413 (-24.3%), from €112,788 to €85,374
of which Taxes: -€28,058
- Other debts +€14,789
up €14,789 (+22.2%), from €66,637 to €81,426
- Gross operating margin -€49,077
down €49,077 (-5.9%), from €833,735 to €784,659
- Taxes -€18,310
down €18,310 (-61.9%), from €29,558 to €11,248
- Depreciation -€13,379
down €13,379 (-7.2%), from €186,716 to €173,337
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 | €1,432,720 | €1,204,161 | -€228,559 | -16.0% |
| Fixed assets | 21/28 | €757,858 | €590,388 | -€167,470 | -22.1% |
| Tangible fixed assets | 22/27 | €757,858 | €590,388 | -€167,470 | -22.1% |
| Land and buildings | 22 | €336,833 | €206,170 | -€130,663 | -38.8% |
| Plant, machinery and equipment | 23 | €250,881 | €193,420 | -€57,461 | -22.9% |
| Furniture and vehicles | 24 | €51,559 | €111,068 | +€59,508 | +115.4% |
| Leasing and similar rights | 25 | €107,542 | €79,731 | -€27,811 | -25.9% |
| Assets under construction and advance payments | 27 | €11,043 | €0 | -€11,043 | -100.0% |
| Current assets | 29/58 | €674,862 | €613,772 | -€61,090 | -9.1% |
| Stocks and contracts in progress | 3 | €69,591 | €61,977 | -€7,615 | -10.9% |
| Stocks | 30/36 | €69,591 | €61,977 | -€7,615 | -10.9% |
| Amounts receivable within one year | 40/41 | €330,500 | €408,131 | +€77,630 | +23.5% |
| Trade receivables | 40 | €58,141 | €56,343 | -€1,798 | -3.1% |
| Other amounts receivable | 41 | €272,359 | €351,788 | +€79,429 | +29.2% |
| Cash at bank and in hand | 54/58 | €262,808 | €131,002 | -€131,806 | -50.2% |
| Deferred charges and accrued income | 490/1 | €11,962 | €12,663 | +€701 | +5.9% |
| Total equity and liabilities | 10/49 | €1,432,720 | €1,204,161 | -€228,559 | -16.0% |
| Equity | 10/15 | €918,298 | €884,324 | -€33,974 | -3.7% |
| Contributions | 10/11 | €83,000 | €83,000 | = | 0.0% |
| Reserves | 13 | €737,273 | €703,223 | -€34,050 | -4.6% |
| Distributable reserves | 133 | €737,273 | €703,223 | -€34,050 | -4.6% |
| Profit (loss) carried forward | 14 | €98,025 | €98,101 | +€76 | +0.1% |
| Amounts payable | 17/49 | €514,422 | €319,837 | -€194,585 | -37.8% |
| Amounts payable after more than one year | 17 | €30,908 | €73,453 | +€42,544 | +137.6% |
| Financial debts | 170/4 | €30,908 | €73,453 | +€42,544 | +137.6% |
| Amounts payable within one year | 42/48 | €482,435 | €245,411 | -€237,024 | -49.1% |
| Current portion of amounts payable after more than one year | 42 | €38,984 | €40,152 | +€1,168 | +3.0% |
| Trade debts | 44 | €264,026 | €38,458 | -€225,568 | -85.4% |
| Suppliers | 440/4 | €264,026 | €38,458 | -€225,568 | -85.4% |
| Taxes, remuneration and social security | 45 | €112,788 | €85,374 | -€27,413 | -24.3% |
| Taxes | 450/3 | €34,827 | €6,768 | -€28,058 | -80.6% |
| Remuneration and social security | 454/9 | €77,961 | €78,606 | +€645 | +0.8% |
| Other amounts payable | 47/48 | €66,637 | €81,426 | +€14,789 | +22.2% |
| Accrued charges and deferred income | 492/3 | €1,079 | €973 | -€106 | -9.8% |
| Non-recurring operating income | 76A | €11,500 | €0 | -€11,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €547,303 | €546,227 | -€1,076 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,716 | €173,337 | -€13,379 | -7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €9,123 | €8,292 | -€831 | -9.1% |
| Non-recurring operating charges | 66A | - | €13,173 | +€13,173 | |
| Gross operating margin | 9900 | €833,735 | €784,659 | -€49,077 | -5.9% |
| Operating profit (loss) | 9901 | €90,593 | €43,630 | -€46,963 | -51.8% |
| Financial income | 75/76B | €14,739 | €10,776 | -€3,963 | -26.9% |
| Recurring financial income | 75 | €14,739 | €10,776 | -€3,963 | -26.9% |
| Financial charges | 65/66B | €9,197 | €12,582 | +€3,385 | +36.8% |
| Recurring financial charges | 65 | €9,197 | €12,582 | +€3,385 | +36.8% |
| Profit (loss) for the period before taxes | 9903 | €96,135 | €41,824 | -€54,311 | -56.5% |
| Income taxes | 67/77 | €29,558 | €11,248 | -€18,310 | -61.9% |
| Profit (loss) for the period | 9904 | €66,577 | €30,576 | -€36,001 | -54.1% |
| Profit (loss) for the period to be appropriated | 9905 | €66,577 | €30,576 | -€36,001 | -54.1% |
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 4 October 2026 via checked.be.