Down2Earth Partners: 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.
Down2Earth Partners
Largest movements
- Receivables after one year +€450,000
new in 2025: €450,000
- Cash -€300,482
down €300,482 (-69.0%), from €435,266 to €134,784
mainly Debts after one year (-€470,000) and Receivables after one year (-€450,000)
- Current investments +€259,493
up €259,493 (+580%), from €44,738 to €304,231
- Tangible fixed assets -€161,322
down €161,322 (-5.0%), from €3.2m to €3.1m
of which Land and buildings: -€108,417
- Receivables within one year +€149,413
up €149,413 (+5.2%), from €2.9m to €3.0m
of which Trade receivables: +€109,908
- Reserves +€878,679
up €878,679 (+28.3%), from €3.1m to €4.0m
of which Distributable reserves: +€878,679
- Debts after one year -€470,000
down €470,000 (-19.9%), from €2.4m to €1.9m
- Accrued charges and deferred income +€98,572
new in 2025: €98,572
- Gross operating margin -€460,172
down €460,172 (-25.5%), from €1.8m to €1.3m
- Financial income +€91,008
up €91,008 (+161%), from €56,551 to €147,558
of which Financial income: +€77,668
- Taxes +€89,012
up €89,012 (+42.8%), from €207,735 to €296,747
- Financial charges +€36,110
up €36,110 (+33.6%), from €107,455 to €143,565
- Staff costs -€23,469
down €23,469 (-100%), from €23,469 to €0
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 | €6,998,800 | €7,471,596 | +€472,796 | +6.8% |
| Fixed assets | 21/28 | €3,627,577 | €3,460,217 | -€167,360 | -4.6% |
| Intangible fixed assets | 21 | €1,547 | €562 | -€985 | -63.7% |
| Tangible fixed assets | 22/27 | €3,225,534 | €3,064,212 | -€161,322 | -5.0% |
| Land and buildings | 22 | €3,107,433 | €2,999,016 | -€108,417 | -3.5% |
| Plant, machinery and equipment | 23 | €12,086 | €5,791 | -€6,295 | -52.1% |
| Furniture and vehicles | 24 | €106,015 | €59,405 | -€46,610 | -44.0% |
| Financial fixed assets | 28 | €400,497 | €395,443 | -€5,053 | -1.3% |
| Current assets | 29/58 | €3,371,222 | €4,011,379 | +€640,157 | +19.0% |
| Amounts receivable after more than one year | 29 | - | €450,000 | +€450,000 | |
| Other amounts receivable | 291 | - | €450,000 | +€450,000 | |
| Amounts receivable within one year | 40/41 | €2,887,877 | €3,037,290 | +€149,413 | +5.2% |
| Trade receivables | 40 | €684,943 | €794,851 | +€109,908 | +16.0% |
| Other amounts receivable | 41 | €2,202,934 | €2,242,439 | +€39,505 | +1.8% |
| Current investments | 50/53 | €44,738 | €304,231 | +€259,493 | +580% |
| Cash at bank and in hand | 54/58 | €435,266 | €134,784 | -€300,482 | -69.0% |
| Deferred charges and accrued income | 490/1 | €3,342 | €85,074 | +€81,732 | +2,446% |
| Total equity and liabilities | 10/49 | €6,998,800 | €7,471,596 | +€472,796 | +6.8% |
| Equity | 10/15 | €3,162,095 | €4,040,774 | +€878,679 | +27.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,100,595 | €3,979,274 | +€878,679 | +28.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €3,094,445 | €3,973,124 | +€878,679 | +28.4% |
| Amounts payable | 17/49 | €3,836,704 | €3,430,821 | -€405,883 | -10.6% |
| Amounts payable after more than one year | 17 | €2,365,000 | €1,895,000 | -€470,000 | -19.9% |
| Financial debts | 170/4 | €2,365,000 | €1,895,000 | -€470,000 | -19.9% |
| Amounts payable within one year | 42/48 | €1,471,704 | €1,437,249 | -€34,455 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €170,000 | €170,000 | = | 0.0% |
| Financial debts | 43 | €110 | €3,088 | +€2,979 | +2,717% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €110 | €3,088 | +€2,979 | +2,717% |
| Trade debts | 44 | €133,820 | €176,563 | +€42,742 | +31.9% |
| Suppliers | 440/4 | €133,820 | €176,563 | +€42,742 | +31.9% |
| Taxes, remuneration and social security | 45 | €267,977 | €242,314 | -€25,663 | -9.6% |
| Taxes | 450/3 | €267,977 | €242,314 | -€25,663 | -9.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €899,798 | €845,284 | -€54,513 | -6.1% |
| Accrued charges and deferred income | 492/3 | - | €98,572 | +€98,572 | |
| Remuneration, social security and pensions | 62 | €23,469 | €0 | -€23,469 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,485 | €163,543 | -€12,942 | -7.3% |
| Other operating charges | 640/8 | €5,689 | €7,768 | +€2,079 | +36.5% |
| Gross operating margin | 9900 | €1,802,915 | €1,342,743 | -€460,172 | -25.5% |
| Operating profit (loss) | 9901 | €1,597,272 | €1,171,433 | -€425,840 | -26.7% |
| Financial income | 75/76B | €56,551 | €147,558 | +€91,008 | +161% |
| Recurring financial income | 75 | €35,419 | €113,087 | +€77,668 | +219% |
| Non-recurring financial income | 76B | €21,132 | €34,472 | +€13,340 | +63.1% |
| Financial charges | 65/66B | €107,455 | €143,565 | +€36,110 | +33.6% |
| Recurring financial charges | 65 | €107,455 | €143,565 | +€36,110 | +33.6% |
| Profit (loss) for the period before taxes | 9903 | €1,546,368 | €1,175,426 | -€370,942 | -24.0% |
| Income taxes | 67/77 | €207,735 | €296,747 | +€89,012 | +42.8% |
| Profit (loss) for the period | 9904 | €1,338,633 | €878,679 | -€459,954 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,338,633 | €878,679 | -€459,954 | -34.4% |
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 26 October 2026 via checked.be.