Eric Baland: 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.
Eric Baland
Largest movements
- Receivables within one year +€32,108
up €32,108 (+24.9%), from €128,978 to €161,086
of which Other amounts receivable: +€50,470
- Cash -€2,752
down €2,752 (-33.4%), from €8,227 to €5,475
mainly Tax, wage and social debts (-€45,111) and Receivables within one year (-€32,108)
- Other debts +€63,924
new in 2025: €63,924
- Tax, wage and social debts -€45,111
down €45,111 (-67.4%), from €66,888 to €21,778
- Current portion of long-term debt +€17,680
new in 2025: €17,680
- Profit (loss) carried forward -€10,123
down €10,123 (-10.8%), from €93,302 to €83,179
- Accrued charges and deferred income +€3,507
up €3,507 (+17.1%), from €20,493 to €24,000
- Gross operating margin -€59,417
down €59,417, from €51,170 to -€8,248
- Taxes -€3,420
down €3,420 (-55.6%), from €6,150 to €2,729
- Financial charges -€2,619
down €2,619 (-87.4%), from €2,997 to €378
- Other operating charges +€1,949
up €1,949 (+459.9%), from €424 to €2,373
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,205 | €220,561 | +€29,356 | +15.4% |
| Current assets | 29/58 | €191,205 | €220,561 | +€29,356 | +15.4% |
| Amounts receivable within one year | 40/41 | €128,978 | €161,086 | +€32,108 | +24.9% |
| Trade receivables | 40 | €59,581 | €41,218 | -€18,362 | -30.8% |
| Other amounts receivable | 41 | €69,397 | €119,867 | +€50,470 | +72.7% |
| Cash at bank and in hand | 54/58 | €8,227 | €5,475 | -€2,752 | -33.4% |
| Deferred charges and accrued income | 490/1 | €54,000 | €54,000 | = | 0.0% |
| Total equity and liabilities | 10/49 | €191,205 | €220,561 | +€29,356 | +15.4% |
| Equity | 10/15 | €103,302 | €93,179 | -€10,123 | -9.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,302 | €83,179 | -€10,123 | -10.8% |
| Amounts payable | 17/49 | €87,904 | €127,382 | +€39,479 | +44.9% |
| Amounts payable within one year | 42/48 | €67,411 | €103,382 | +€35,971 | +53.4% |
| Current portion of amounts payable after more than one year | 42 | - | €17,680 | +€17,680 | |
| Trade debts | 44 | €523 | - | -€523 | |
| Suppliers | 440/4 | €523 | - | -€523 | |
| Taxes, remuneration and social security | 45 | €66,888 | €21,778 | -€45,111 | -67.4% |
| Taxes | 450/3 | €66,888 | €21,778 | -€45,111 | -67.4% |
| Other amounts payable | 47/48 | - | €63,924 | +€63,924 | |
| Accrued charges and deferred income | 492/3 | €20,493 | €24,000 | +€3,507 | +17.1% |
| Other operating charges | 640/8 | €424 | €2,373 | +€1,949 | +459.9% |
| Gross operating margin | 9900 | €51,170 | -€8,248 | -€59,417 | |
| Operating profit (loss) | 9901 | €50,746 | -€10,621 | -€61,367 | |
| Financial income | 75/76B | €4,071 | €3,605 | -€466 | -11.4% |
| Recurring financial income | 75 | €4,071 | €3,605 | -€466 | -11.4% |
| Financial charges | 65/66B | €2,997 | €378 | -€2,619 | -87.4% |
| Recurring financial charges | 65 | €2,997 | €378 | -€2,619 | -87.4% |
| Profit (loss) for the period before taxes | 9903 | €51,821 | -€7,393 | -€59,214 | |
| Income taxes | 67/77 | €6,150 | €2,729 | -€3,420 | -55.6% |
| Profit (loss) for the period | 9904 | €45,671 | -€10,123 | -€55,793 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,671 | -€10,123 | -€55,793 |
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 9 October 2026 via checked.be.