EQUILIBRIUM: 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
EQUILIBRIUM
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€346,036
2024 · -€317,258-€28,778
Equity
€13.5m
2024 · €13.0m+€462,644
Cash
€103,431
2024 · €42,671+€60,760
Balance sheet total
€21.3m
2024 · €18.3m+€3.0m
Largest movements
Assets
- Financial fixed assets +€2.0m
up €2.0m (+29.4%), from €6.8m to €8.8m
- Receivables within one year +€567,963
up €567,963 (+38.7%), from €1.5m to €2.0m
of which Other amounts receivable: +€319,588
- Receivables after one year +€456,003
up €456,003 (+16.6%), from €2.7m to €3.2m
Equity and liabilities
- Debts after one year +€2.2m
up €2.2m (+90.6%), from €2.4m to €4.6m
- Revaluation surpluses +€808,680
up €808,680 (+23.5%), from €3.4m to €4.3m
- Short-term financial debts +€480,132
up €480,132 (+240.0%), from €200,019 to €680,150
- Other debts -€342,640
down €342,640 (-97.2%), from €352,640 to €10,000
- Profit (loss) carried forward -€338,405
down €338,405 (-5.4%), from €6.3m to €5.9m
Income statement
- Gross operating margin -€470,454
down €470,454 (-94.6%), from €497,289 to €26,836
- Taxes -€232,416
down €232,416, from €206,302 to -€26,113
- Depreciation -€198,218
down €198,218 (-37.1%), from €534,389 to €336,171
- Financial income +€39,085
up €39,085 (+76129.2%), from €51 to €39,136
- Financial charges +€28,142
up €28,142 (+36.5%), from €77,095 to €105,236
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
-€317,258
Gross operating margin
-€470,454
Depreciation
+€198,218
Other operating charges
+€99
Financial income
+€39,085
Financial charges
-€28,142
Taxes
+€232,416
Result 2025
-€346,036
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
-€2.3m
Financing
+€3.8m
Cash 2024
€42,671
From operations (derived)
-€1.5m
Net result for the year
-€346,036
Depreciation
+€336,171
Receivables after one year
-€456,003
Receivables within one year
-€567,963
Deferred charges and accrued income
+€13,686
Provisions
-€3,930
Trade debts
+€194,463
Tax, wage and social debts
-€308,894
Other debts
-€342,640
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€2.3m
Current investments
+€31,575
Financing
+€3.8m
Debts after one year
+€2.2m
Current portion of long-term debt
+€338,320
Short-term financial debts
+€480,132
Contributions, distributions and other
+€808,680
Cash 2025
€103,431
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,282,583 | €21,307,472 | +€3.0m | +16.5% |
| Fixed assets | 21/28 | €13,744,163 | €15,729,587 | +€2.0m | +14.4% |
| Tangible fixed assets | 22/27 | €6,972,595 | €6,964,173 | -€8,421 | -0.1% |
| Land and buildings | 22 | €6,505,297 | €6,493,788 | -€11,509 | -0.2% |
| Plant, machinery and equipment | 23 | €909 | €4,442 | +€3,533 | +388.7% |
| Furniture and vehicles | 24 | €344,450 | €344,219 | -€232 | -0.1% |
| Other tangible fixed assets | 26 | €121,939 | €121,726 | -€213 | -0.2% |
| Financial fixed assets | 28 | €6,771,569 | €8,765,414 | +€2.0m | +29.4% |
| Current assets | 29/58 | €4,538,420 | €5,577,885 | +€1.0m | +22.9% |
| Amounts receivable after more than one year | 29 | €2,747,370 | €3,203,372 | +€456,003 | +16.6% |
| Other amounts receivable | 291 | €2,747,370 | €3,203,372 | +€456,003 | +16.6% |
| Stocks and contracts in progress | 3 | €53,843 | €53,843 | = | 0.0% |
| Stocks | 30/36 | €53,843 | €53,843 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,466,482 | €2,034,445 | +€567,963 | +38.7% |
| Trade receivables | 40 | €1,442,091 | €1,690,466 | +€248,375 | +17.2% |
| Other amounts receivable | 41 | €24,391 | €343,979 | +€319,588 | +1310.3% |
| Current investments | 50/53 | €31,575 | - | -€31,575 | |
| Cash at bank and in hand | 54/58 | €42,671 | €103,431 | +€60,760 | +142.4% |
| Deferred charges and accrued income | 490/1 | €196,480 | €182,794 | -€13,686 | -7.0% |
| Total equity and liabilities | 10/49 | €18,282,583 | €21,307,472 | +€3.0m | +16.5% |
| Equity | 10/15 | €13,038,606 | €13,501,250 | +€462,644 | +3.5% |
| Contributions | 10/11 | €3,218,600 | €3,218,600 | = | 0.0% |
| Revaluation surpluses | 12 | €3,446,786 | €4,255,467 | +€808,680 | +23.5% |
| Reserves | 13 | €102,528 | €94,896 | -€7,632 | -7.4% |
| Non-distributable reserves | 130/1 | €22,060 | €22,060 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,060 | €22,060 | = | 0.0% |
| Tax-exempt reserves | 132 | €80,468 | €72,837 | -€7,632 | -9.5% |
| Profit (loss) carried forward | 14 | €6,270,691 | €5,932,287 | -€338,405 | -5.4% |
| Provisions and deferred taxes | 16 | €51,435 | €47,505 | -€3,930 | -7.6% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Environmental obligations | 163 | €10,000 | €10,000 | = | 0.0% |
| Deferred taxes | 168 | €41,435 | €37,505 | -€3,930 | -9.5% |
| Amounts payable | 17/49 | €5,192,543 | €7,758,717 | +€2.6m | +49.4% |
| Amounts payable after more than one year | 17 | €2,434,541 | €4,639,334 | +€2.2m | +90.6% |
| Financial debts | 170/4 | €2,434,541 | €4,639,334 | +€2.2m | +90.6% |
| Amounts payable within one year | 42/48 | €2,758,002 | €3,119,384 | +€361,382 | +13.1% |
| Current portion of amounts payable after more than one year | 42 | €188,941 | €527,262 | +€338,320 | +179.1% |
| Financial debts | 43 | €200,019 | €680,150 | +€480,132 | +240.0% |
| Credit institutions | 430/8 | €200,019 | €680,150 | +€480,132 | +240.0% |
| Trade debts | 44 | €1,296,937 | €1,491,400 | +€194,463 | +15.0% |
| Suppliers | 440/4 | €1,296,937 | €1,491,400 | +€194,463 | +15.0% |
| Advances received on contracts in progress | 46 | €33,714 | €33,714 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €685,752 | €376,858 | -€308,894 | -45.0% |
| Taxes | 450/3 | €685,752 | €336,337 | -€349,415 | -51.0% |
| Remuneration and social security | 454/9 | - | €40,521 | +€40,521 | |
| Other amounts payable | 47/48 | €352,640 | €10,000 | -€342,640 | -97.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €534,389 | €336,171 | -€198,218 | -37.1% |
| Other operating charges | 640/8 | €743 | €644 | -€99 | -13.3% |
| Gross operating margin | 9900 | €497,289 | €26,836 | -€470,454 | -94.6% |
| Operating profit (loss) | 9901 | -€37,842 | -€309,979 | -€272,137 | -719.1% |
| Financial income | 75/76B | €51 | €39,136 | +€39,085 | +76129.2% |
| Recurring financial income | 75 | €51 | €39,136 | +€39,085 | +76129.2% |
| Financial charges | 65/66B | €77,095 | €105,236 | +€28,142 | +36.5% |
| Recurring financial charges | 65 | €77,095 | €105,236 | +€28,142 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | -€114,885 | -€376,079 | -€261,194 | -227.4% |
| Transfer from deferred taxes | 780 | €3,930 | €3,930 | = | 0.0% |
| Income taxes | 67/77 | €206,302 | -€26,113 | -€232,416 | |
| Profit (loss) for the period | 9904 | -€317,258 | -€346,036 | -€28,778 | -9.1% |
| Transfer from tax-exempt reserves | 789 | €7,632 | €7,632 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€309,626 | -€338,405 | -€28,778 | -9.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.