Disfrutar: 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.
Disfrutar
Largest movements
- Tangible fixed assets +€163,675
up €163,675 (+45.6%), from €358,562 to €522,237
of which Land and buildings: +€178,062
- Receivables within one year -€35,942
down €35,942 (-30.6%), from €117,477 to €81,535
of which Trade receivables: -€34,906
- Cash -€18,359
down €18,359 (-11.1%), from €164,797 to €146,438
mainly Investment in fixed assets (net) (-€202,678) and Contributions, distributions and other (-€184,945)
- Current investments +€12,307
up €12,307 (+21.2%), from €57,987 to €70,294
- Other debts +€149,826
up €149,826 (+600%), from €24,970 to €174,796
- Reserves -€117,099
down €117,099 (-31.1%), from €376,223 to €259,124
- Debts after one year +€84,789
up €84,789 (+38.1%), from €222,260 to €307,049
of which Financial debts: +€123,481
- Current portion of long-term debt +€11,686
up €11,686 (+38.9%), from €30,057 to €41,744
- Gross operating margin +€6,276
up €6,276 (+4.2%), from €147,913 to €154,189
- Depreciation -€2,769
down €2,769 (-6.1%), from €45,590 to €42,822
- Financial charges +€1,787
up €1,787 (+14.4%), from €12,399 to €14,186
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 | €755,259 | €870,273 | +€115,014 | +15.2% |
| Fixed assets | 21/28 | €372,128 | €531,984 | +€159,856 | +43.0% |
| Intangible fixed assets | 21 | €13,566 | €9,747 | -€3,819 | -28.2% |
| Tangible fixed assets | 22/27 | €358,562 | €522,237 | +€163,675 | +45.6% |
| Land and buildings | 22 | €276,323 | €454,385 | +€178,062 | +64.4% |
| Plant, machinery and equipment | 23 | €13,960 | €10,023 | -€3,936 | -28.2% |
| Furniture and vehicles | 24 | €26,570 | €20,433 | -€6,137 | -23.1% |
| Other tangible fixed assets | 26 | €41,709 | €37,396 | -€4,313 | -10.3% |
| Current assets | 29/58 | €383,131 | €338,289 | -€44,842 | -11.7% |
| Stocks and contracts in progress | 3 | €36,428 | €36,686 | +€258 | +0.7% |
| Stocks | 30/36 | €36,428 | €36,686 | +€258 | +0.7% |
| Amounts receivable within one year | 40/41 | €117,477 | €81,535 | -€35,942 | -30.6% |
| Trade receivables | 40 | €95,710 | €60,805 | -€34,906 | -36.5% |
| Other amounts receivable | 41 | €21,767 | €20,730 | -€1,037 | -4.8% |
| Current investments | 50/53 | €57,987 | €70,294 | +€12,307 | +21.2% |
| Cash at bank and in hand | 54/58 | €164,797 | €146,438 | -€18,359 | -11.1% |
| Deferred charges and accrued income | 490/1 | €6,441 | €3,336 | -€3,106 | -48.2% |
| Total equity and liabilities | 10/49 | €755,259 | €870,273 | +€115,014 | +15.2% |
| Equity | 10/15 | €388,623 | €271,524 | -€117,099 | -30.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €376,223 | €259,124 | -€117,099 | -31.1% |
| Distributable reserves | 133 | €376,223 | €259,124 | -€117,099 | -31.1% |
| Amounts payable | 17/49 | €366,635 | €598,749 | +€232,114 | +63.3% |
| Amounts payable after more than one year | 17 | €222,260 | €307,049 | +€84,789 | +38.1% |
| Financial debts | 170/4 | €167,137 | €290,618 | +€123,481 | +73.9% |
| Other amounts payable | 178/9 | €55,123 | €16,431 | -€38,692 | -70.2% |
| Amounts payable within one year | 42/48 | €144,376 | €291,700 | +€147,324 | +102% |
| Current portion of amounts payable after more than one year | 42 | €30,057 | €41,744 | +€11,686 | +38.9% |
| Financial debts | 43 | €29,367 | €20,878 | -€8,489 | -28.9% |
| Credit institutions | 430/8 | €29,367 | €20,878 | -€8,489 | -28.9% |
| Trade debts | 44 | €41,952 | €36,766 | -€5,186 | -12.4% |
| Suppliers | 440/4 | €41,952 | €36,766 | -€5,186 | -12.4% |
| Taxes, remuneration and social security | 45 | €18,029 | €17,516 | -€513 | -2.8% |
| Taxes | 450/3 | €18,029 | €17,516 | -€513 | -2.8% |
| Other amounts payable | 47/48 | €24,970 | €174,796 | +€149,826 | +600% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,590 | €42,822 | -€2,769 | -6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €50 | - | -€50 | |
| Other operating charges | 640/8 | €3,642 | €3,908 | +€266 | +7.3% |
| Non-recurring operating charges | 66A | €7,977 | €3,743 | -€4,234 | -53.1% |
| Gross operating margin | 9900 | €147,913 | €154,189 | +€6,276 | +4.2% |
| Operating profit (loss) | 9901 | €90,655 | €103,717 | +€13,062 | +14.4% |
| Financial income | 75/76B | €2,769 | €3,689 | +€920 | +33.2% |
| Recurring financial income | 75 | €2,769 | €3,689 | +€920 | +33.2% |
| Financial charges | 65/66B | €12,399 | €14,186 | +€1,787 | +14.4% |
| Recurring financial charges | 65 | €12,399 | €14,186 | +€1,787 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €81,025 | €93,220 | +€12,196 | +15.1% |
| Income taxes | 67/77 | €26,037 | €25,375 | -€662 | -2.5% |
| Profit (loss) for the period | 9904 | €54,988 | €67,846 | +€12,858 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €54,988 | €67,846 | +€12,858 | +23.4% |
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 15 October 2026 via checked.be.