EATON: 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.
What changed
EATON
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€870,702
2024 · -€7.9m+€8.8m
Equity
€1.2m
2024 · €442,268+€766,614
Cash
€1,048
2024 · €8,241-€7,193
Balance sheet total
€18.8m
2024 · €19.4m-€554,369
Largest movements
Assets
- Tangible fixed assets -€560,834
down €560,834 (-3.2%), from €17.3m to €16.8m
of which Land and buildings: -€560,834
Equity and liabilities
- Current portion of long-term debt -€1.3m
down €1.3m (-7.1%), from €17.8m to €16.5m
- Profit (loss) carried forward +€937,948
up €937,948 (+20.7%), from -€4.5m to -€3.6m
Income statement
- Financial charges -€8.8m
down €8.8m (-93.5%), from €9.4m to €609,371
of which Non-recurring financial charges: -€8.5m
- Staff costs -€144,861
down €144,861 (-66.6%), from €217,599 to €72,738
- Gross operating margin -€120,620
down €120,620 (-4.4%), from €2.7m to €2.6m
- Taxes +€106,035
up €106,035 (+43.4%), from €244,199 to €350,235
- Depreciation -€86,385
down €86,385 (-11.0%), from €785,269 to €698,884
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.
Result 2024
-€7.9m
Gross operating margin
-€120,620
Staff costs
+€144,861
Depreciation
+€86,385
Other operating charges
-€3,414
Financial income
+€1,011
Financial charges
+€8.8m
Taxes
-€106,035
Result 2025
€870,702
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.
From operations
+€1.5m
Investment
-€138,050
Financing
-€1.4m
Cash 2024
€8,241
From operations (derived)
+€1.5m
Net result for the year
+€870,702
Depreciation
+€698,884
Receivables after one year
-€4,029
Receivables within one year
+€30,854
Deferred charges and accrued income
-€40,483
Provisions
-€59,430
Trade debts
-€54,968
Tax, wage and social debts
-€44,877
Other debts
+€104,088
Accrued charges and deferred income
+€204
Investment (derived)
-€138,050
Investment in fixed assets (net)
-€138,050
Financing
-€1.4m
Current portion of long-term debt
-€1.3m
Contributions, distributions and other
-€104,088
Cash 2025
€1,048
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,378,328 | €18,823,959 | -€554,369 | -2.9% |
| Fixed assets | 21/28 | €17,341,602 | €16,780,768 | -€560,834 | -3.2% |
| Tangible fixed assets | 22/27 | €17,333,966 | €16,773,132 | -€560,834 | -3.2% |
| Land and buildings | 22 | €17,320,758 | €16,759,924 | -€560,834 | -3.2% |
| Other tangible fixed assets | 26 | €13,208 | €13,208 | = | 0.0% |
| Financial fixed assets | 28 | €7,636 | €7,636 | = | 0.0% |
| Current assets | 29/58 | €2,036,726 | €2,043,191 | +€6,465 | +0.3% |
| Amounts receivable after more than one year | 29 | €72,339 | €76,368 | +€4,029 | +5.6% |
| Other amounts receivable | 291 | €72,339 | €76,368 | +€4,029 | +5.6% |
| Amounts receivable within one year | 40/41 | €1,954,751 | €1,923,897 | -€30,854 | -1.6% |
| Trade receivables | 40 | €360,531 | €359,263 | -€1,268 | -0.4% |
| Other amounts receivable | 41 | €1,594,220 | €1,564,634 | -€29,586 | -1.9% |
| Cash at bank and in hand | 54/58 | €8,241 | €1,048 | -€7,193 | -87.3% |
| Deferred charges and accrued income | 490/1 | €1,396 | €41,879 | +€40,483 | +2899.5% |
| Total equity and liabilities | 10/49 | €19,378,328 | €18,823,959 | -€554,369 | -2.9% |
| Equity | 10/15 | €442,268 | €1,208,882 | +€766,614 | +173.3% |
| Contributions | 10/11 | €1,978,705 | €1,978,705 | = | 0.0% |
| Capital | 10 | €1,961,953 | €1,961,953 | = | 0.0% |
| Issued capital | 100 | €1,961,953 | €1,961,953 | = | 0.0% |
| Outside capital | 11 | €16,752 | €16,752 | = | 0.0% |
| Share premium | 1100/10 | €16,752 | €16,752 | = | 0.0% |
| Revaluation surpluses | 12 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €2,883,926 | €2,712,591 | -€171,335 | -5.9% |
| Non-distributable reserves | 130/1 | €196,195 | €196,195 | = | 0.0% |
| Legal reserve | 130 | €196,195 | €196,195 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,687,731 | €2,516,396 | -€171,335 | -6.4% |
| Profit (loss) carried forward | 14 | -€4,530,363 | -€3,592,415 | +€937,948 | +20.7% |
| Provisions and deferred taxes | 16 | €910,437 | €851,007 | -€59,430 | -6.5% |
| Deferred taxes | 168 | €910,437 | €851,007 | -€59,430 | -6.5% |
| Amounts payable | 17/49 | €18,025,623 | €16,764,071 | -€1.3m | -7.0% |
| Amounts payable within one year | 42/48 | €17,897,745 | €16,635,989 | -€1.3m | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €17,782,250 | €16,516,250 | -€1.3m | -7.1% |
| Trade debts | 44 | €70,619 | €15,651 | -€54,968 | -77.8% |
| Suppliers | 440/4 | €70,619 | €15,651 | -€54,968 | -77.8% |
| Taxes, remuneration and social security | 45 | €44,877 | - | -€44,877 | |
| Taxes | 450/3 | €19,570 | - | -€19,570 | |
| Remuneration and social security | 454/9 | €25,307 | - | -€25,307 | |
| Other amounts payable | 47/48 | - | €104,088 | +€104,088 | |
| Accrued charges and deferred income | 492/3 | €127,878 | €128,082 | +€204 | +0.2% |
| Remuneration, social security and pensions | 62 | €217,599 | €72,738 | -€144,861 | -66.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €785,269 | €698,884 | -€86,385 | -11.0% |
| Other operating charges | 640/8 | €132,367 | €135,781 | +€3,414 | +2.6% |
| Gross operating margin | 9900 | €2,733,502 | €2,612,882 | -€120,620 | -4.4% |
| Operating profit (loss) | 9901 | €1,598,267 | €1,705,479 | +€107,211 | +6.7% |
| Financial income | 75/76B | €64,388 | €65,399 | +€1,011 | +1.6% |
| Recurring financial income | 75 | €64,388 | €65,399 | +€1,011 | +1.6% |
| Financial charges | 65/66B | €9,413,722 | €609,371 | -€8.8m | -93.5% |
| Recurring financial charges | 65 | €917,127 | €609,371 | -€307,756 | -33.6% |
| Non-recurring financial charges | 66B | €8,496,595 | - | -€8.5m | |
| Profit (loss) for the period before taxes | 9903 | -€7,751,067 | €1,161,507 | +€8.9m | |
| Transfer from deferred taxes | 780 | €59,430 | €59,430 | = | 0.0% |
| Income taxes | 67/77 | €244,199 | €350,235 | +€106,035 | +43.4% |
| Profit (loss) for the period | 9904 | -€7,935,836 | €870,702 | +€8.8m | |
| Transfer from tax-exempt reserves | 789 | €171,335 | €171,335 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,764,501 | €1,042,037 | +€8.8m |
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 5 October 2026 via checked.be.