BEACH NUMBER 1: 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.
BEACH NUMBER 1
Largest movements
- Cash +€96,917
up €96,917 (+36,774%), from €264 to €97,180
mainly Net result for the year (+€153,323) and Depreciation (+€73,346)
- Intangible fixed assets -€26,799
down €26,799 (-20.0%), from €133,993 to €107,195
- Receivables within one year +€26,613
up €26,613 (+175%), from €15,232 to €41,845
of which Other amounts receivable: +€32,089
- Tangible fixed assets +€15,496
up €15,496 (+2.9%), from €537,607 to €553,103
of which Furniture and vehicles: +€14,052
- Reserves +€153,323
up €153,323 (+181%), from €84,490 to €237,813
- Debts after one year -€58,895
down €58,895 (-15.2%), from €386,895 to €328,000
of which Financial debts: -€34,826
- Advances received +€12,166
up €12,166 (+42.9%), from €28,372 to €40,537
- Current portion of long-term debt -€9,431
down €9,431 (-21.3%), from €44,257 to €34,826
- Gross operating margin +€164,977
up €164,977 (+57.5%), from €286,707 to €451,685
- Taxes +€63,696
up €63,696 (+549%), from €11,593 to €75,290
- Depreciation -€43,836
down €43,836 (-37.4%), from €117,182 to €73,346
- Staff costs -€8,095
down €8,095 (-6.9%), from €117,043 to €108,948
- Financial charges +€8,034
up €8,034 (+93.2%), from €8,620 to €16,654
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 | €699,591 | €803,838 | +€104,247 | +14.9% |
| Fixed assets | 21/28 | €671,846 | €660,670 | -€11,176 | -1.7% |
| Intangible fixed assets | 21 | €133,993 | €107,195 | -€26,799 | -20.0% |
| Tangible fixed assets | 22/27 | €537,607 | €553,103 | +€15,496 | +2.9% |
| Land and buildings | 22 | €464,489 | €458,097 | -€6,392 | -1.4% |
| Plant, machinery and equipment | 23 | €44,804 | €52,640 | +€7,836 | +17.5% |
| Furniture and vehicles | 24 | €28,314 | €42,366 | +€14,052 | +49.6% |
| Financial fixed assets | 28 | €246 | €372 | +€126 | +51.3% |
| Current assets | 29/58 | €27,745 | €143,168 | +€115,423 | +416% |
| Stocks and contracts in progress | 3 | €8,067 | €2,125 | -€5,942 | -73.7% |
| Stocks | 30/36 | €8,067 | €2,125 | -€5,942 | -73.7% |
| Amounts receivable within one year | 40/41 | €15,232 | €41,845 | +€26,613 | +175% |
| Trade receivables | 40 | €6,343 | €867 | -€5,476 | -86.3% |
| Other amounts receivable | 41 | €8,889 | €40,978 | +€32,089 | +361% |
| Cash at bank and in hand | 54/58 | €264 | €97,180 | +€96,917 | +36,774% |
| Deferred charges and accrued income | 490/1 | €4,183 | €2,018 | -€2,164 | -51.7% |
| Total equity and liabilities | 10/49 | €699,591 | €803,838 | +€104,247 | +14.9% |
| Equity | 10/15 | €199,255 | €352,577 | +€153,323 | +76.9% |
| Contributions | 10/11 | €114,765 | €114,765 | = | 0.0% |
| Reserves | 13 | €84,490 | €237,813 | +€153,323 | +181% |
| Distributable reserves | 133 | €84,490 | €237,813 | +€153,323 | +181% |
| Amounts payable | 17/49 | €500,336 | €451,260 | -€49,076 | -9.8% |
| Amounts payable after more than one year | 17 | €386,895 | €328,000 | -€58,895 | -15.2% |
| Financial debts | 170/4 | €355,660 | €320,833 | -€34,826 | -9.8% |
| Other amounts payable | 178/9 | €31,235 | €7,167 | -€24,068 | -77.1% |
| Amounts payable within one year | 42/48 | €113,441 | €123,260 | +€9,819 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €44,257 | €34,826 | -€9,431 | -21.3% |
| Trade debts | 44 | €10,598 | €14,910 | +€4,313 | +40.7% |
| Suppliers | 440/4 | €10,598 | €14,910 | +€4,313 | +40.7% |
| Advances received on contracts in progress | 46 | €28,372 | €40,537 | +€12,166 | +42.9% |
| Taxes, remuneration and social security | 45 | €29,044 | €32,986 | +€3,942 | +13.6% |
| Taxes | 450/3 | €10,922 | €21,900 | +€10,978 | +101% |
| Remuneration and social security | 454/9 | €18,122 | €11,086 | -€7,036 | -38.8% |
| Other amounts payable | 47/48 | €1,171 | - | -€1,171 | |
| Non-recurring operating income | 76A | €137 | - | -€137 | |
| Remuneration, social security and pensions | 62 | €117,043 | €108,948 | -€8,095 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,182 | €73,346 | -€43,836 | -37.4% |
| Other operating charges | 640/8 | €21,030 | €24,258 | +€3,228 | +15.3% |
| Gross operating margin | 9900 | €286,707 | €451,685 | +€164,977 | +57.5% |
| Operating profit (loss) | 9901 | €31,452 | €245,133 | +€213,681 | +679% |
| Financial income | 75/76B | €4 | €134 | +€129 | +3,066% |
| Recurring financial income | 75 | €4 | €134 | +€129 | +3,066% |
| Financial charges | 65/66B | €8,620 | €16,654 | +€8,034 | +93.2% |
| Recurring financial charges | 65 | €8,620 | €16,654 | +€8,034 | +93.2% |
| Profit (loss) for the period before taxes | 9903 | €22,836 | €228,612 | +€205,776 | +901% |
| Income taxes | 67/77 | €11,593 | €75,290 | +€63,696 | +549% |
| Profit (loss) for the period | 9904 | €11,243 | €153,323 | +€142,080 | +1,264% |
| Profit (loss) for the period to be appropriated | 9905 | €11,243 | €153,323 | +€142,080 | +1,264% |
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 29 October 2026 via checked.be.