EDELVEST: 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.
EDELVEST
Largest movements
- Receivables within one year -€358,666
down €358,666 (-77.1%), from €465,158 to €106,493
of which Other amounts receivable: -€348,166
- Tangible fixed assets -€73,678
down €73,678 (-3.3%), from €2.2m to €2.2m
of which Land and buildings: -€64,707
- Cash +€43,685
up €43,685 (+574%), from €7,607 to €51,292
mainly Receivables within one year (+€358,666) and Net result for the year (+€92,456)
- Other debts -€436,575
down €436,575 (-89.6%), from €487,075 to €50,500
- Reserves +€92,456
up €92,456 (+17.2%), from €537,905 to €630,361
of which Distributable reserves: +€106,926
- Debts after one year -€82,200
down €82,200 (-6.4%), from €1.3m to €1.2m
- Tax, wage and social debts +€47,653
up €47,653 (+72.5%), from €65,692 to €113,345
- Trade debts +€27,962
up €27,962 (+631%), from €4,428 to €32,390
- Gross operating margin -€78,223
down €78,223 (-22.0%), from €354,801 to €276,578
- Other operating charges -€23,688
down €23,688 (-49.4%), from €47,930 to €24,242
- Taxes +€14,660
up €14,660 (+34.9%), from €41,959 to €56,619
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 | €2,712,318 | €2,324,218 | -€388,100 | -14.3% |
| Fixed assets | 21/28 | €2,239,553 | €2,165,875 | -€73,678 | -3.3% |
| Tangible fixed assets | 22/27 | €2,239,553 | €2,165,875 | -€73,678 | -3.3% |
| Land and buildings | 22 | €2,189,994 | €2,125,287 | -€64,707 | -3.0% |
| Plant, machinery and equipment | 23 | €30,526 | €22,894 | -€7,632 | -25.0% |
| Furniture and vehicles | 24 | €19,033 | €17,694 | -€1,339 | -7.0% |
| Current assets | 29/58 | €472,765 | €158,343 | -€314,422 | -66.5% |
| Amounts receivable within one year | 40/41 | €465,158 | €106,493 | -€358,666 | -77.1% |
| Trade receivables | 40 | €10,500 | - | -€10,500 | |
| Other amounts receivable | 41 | €454,658 | €106,493 | -€348,166 | -76.6% |
| Cash at bank and in hand | 54/58 | €7,607 | €51,292 | +€43,685 | +574% |
| Deferred charges and accrued income | 490/1 | - | €558 | +€558 | |
| Total equity and liabilities | 10/49 | €2,712,318 | €2,324,218 | -€388,100 | -14.3% |
| Equity | 10/15 | €556,505 | €648,961 | +€92,456 | +16.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €537,905 | €630,361 | +€92,456 | +17.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €366,588 | €352,117 | -€14,471 | -3.9% |
| Distributable reserves | 133 | €169,458 | €276,384 | +€106,926 | +63.1% |
| Provisions and deferred taxes | 16 | €188,764 | €181,313 | -€7,451 | -3.9% |
| Deferred taxes | 168 | €188,764 | €181,313 | -€7,451 | -3.9% |
| Amounts payable | 17/49 | €1,967,049 | €1,493,944 | -€473,105 | -24.1% |
| Amounts payable after more than one year | 17 | €1,285,554 | €1,203,354 | -€82,200 | -6.4% |
| Financial debts | 170/4 | €1,285,554 | €1,203,354 | -€82,200 | -6.4% |
| Amounts payable within one year | 42/48 | €669,338 | €278,435 | -€390,902 | -58.4% |
| Current portion of amounts payable after more than one year | 42 | €85,946 | €82,200 | -€3,746 | -4.4% |
| Financial debts | 43 | €26,195 | - | -€26,195 | |
| Credit institutions | 430/8 | €26,195 | - | -€26,195 | |
| Trade debts | 44 | €4,428 | €32,390 | +€27,962 | +631% |
| Suppliers | 440/4 | €4,428 | €32,390 | +€27,962 | +631% |
| Taxes, remuneration and social security | 45 | €65,692 | €113,345 | +€47,653 | +72.5% |
| Taxes | 450/3 | €65,692 | €113,345 | +€47,653 | +72.5% |
| Other amounts payable | 47/48 | €487,075 | €50,500 | -€436,575 | -89.6% |
| Accrued charges and deferred income | 492/3 | €12,157 | €12,155 | -€2 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,867 | €85,127 | +€260 | +0.3% |
| Other operating charges | 640/8 | €47,930 | €24,242 | -€23,688 | -49.4% |
| Gross operating margin | 9900 | €354,801 | €276,578 | -€78,223 | -22.0% |
| Operating profit (loss) | 9901 | €222,004 | €167,208 | -€54,795 | -24.7% |
| Financial income | 75/76B | €12,358 | €15,219 | +€2,860 | +23.1% |
| Recurring financial income | 75 | €12,358 | €15,219 | +€2,860 | +23.1% |
| Financial charges | 65/66B | €40,410 | €40,804 | +€394 | +1.0% |
| Recurring financial charges | 65 | €40,410 | €40,804 | +€394 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €193,952 | €141,623 | -€52,329 | -27.0% |
| Transfer from deferred taxes | 780 | €7,451 | €7,451 | = | 0.0% |
| Income taxes | 67/77 | €41,959 | €56,619 | +€14,660 | +34.9% |
| Profit (loss) for the period | 9904 | €159,445 | €92,456 | -€66,989 | -42.0% |
| Transfer from tax-exempt reserves | 789 | €14,471 | €14,471 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €173,915 | €106,926 | -€66,989 | -38.5% |
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 19 October 2026 via checked.be.