ESPACE PLACARDS &DRESSING: 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.
ESPACE PLACARDS &DRESSING
Largest movements
- Tangible fixed assets -€259,797
down €259,797 (-56.3%), from €461,580 to €201,783
of which Land and buildings: -€218,789
- Receivables within one year +€73,640
up €73,640 (+1,515%), from €4,861 to €78,501
of which Trade receivables: +€61,391
- Stocks and contracts -€31,673
down €31,673 (-16.1%), from €196,869 to €165,196
- Cash -€9,938
down €9,938 (-8.9%), from €112,192 to €102,254
mainly Debts after one year (-€151,124) and Contributions, distributions and other (-€151,057)
- Debts after one year -€151,124
down €151,124 (-58.7%), from €257,376 to €106,252
- Reserves -€150,266
down €150,266 (-40.7%), from €369,157 to €218,890
of which Distributable reserves: -€150,266
- Other debts +€93,203
new in 2025: €93,203
- Current portion of long-term debt -€61,735
down €61,735 (-55.0%), from €112,234 to €50,499
- Profit (loss) carried forward +€42,266
up €42,266 (+22.0%), from -€191,828 to -€149,561
- Staff costs -€256,818
down €256,818 (-59.2%), from €434,112 to €177,294
- Gross operating margin -€229,523
down €229,523 (-39.8%), from €576,167 to €346,644
- Depreciation -€23,587
down €23,587 (-18.2%), from €129,257 to €105,670
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 | €785,277 | €555,248 | -€230,029 | -29.3% |
| Fixed assets | 21/28 | €463,080 | €203,183 | -€259,897 | -56.1% |
| Tangible fixed assets | 22/27 | €461,580 | €201,783 | -€259,797 | -56.3% |
| Land and buildings | 22 | €371,321 | €152,532 | -€218,789 | -58.9% |
| Plant, machinery and equipment | 23 | €52,819 | €36,217 | -€16,602 | -31.4% |
| Furniture and vehicles | 24 | €24,555 | €13,034 | -€11,521 | -46.9% |
| Leasing and similar rights | 25 | €12,886 | - | -€12,886 | |
| Financial fixed assets | 28 | €1,500 | €1,400 | -€100 | -6.7% |
| Current assets | 29/58 | €322,196 | €352,065 | +€29,869 | +9.3% |
| Stocks and contracts in progress | 3 | €196,869 | €165,196 | -€31,673 | -16.1% |
| Stocks | 30/36 | €196,869 | €165,196 | -€31,673 | -16.1% |
| Amounts receivable within one year | 40/41 | €4,861 | €78,501 | +€73,640 | +1,515% |
| Trade receivables | 40 | - | €61,391 | +€61,391 | |
| Other amounts receivable | 41 | €4,861 | €17,110 | +€12,249 | +252% |
| Cash at bank and in hand | 54/58 | €112,192 | €102,254 | -€9,938 | -8.9% |
| Deferred charges and accrued income | 490/1 | €8,274 | €6,114 | -€2,160 | -26.1% |
| Total equity and liabilities | 10/49 | €785,277 | €555,248 | -€230,029 | -29.3% |
| Equity | 10/15 | €278,807 | €170,017 | -€108,791 | -39.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €369,157 | €218,890 | -€150,266 | -40.7% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €359,157 | €208,890 | -€150,266 | -41.8% |
| Profit (loss) carried forward | 14 | -€191,828 | -€149,561 | +€42,266 | +22.0% |
| Investment grants | 15 | €1,478 | €688 | -€791 | -53.5% |
| Provisions and deferred taxes | 16 | €370 | €172 | -€198 | -53.5% |
| Deferred taxes | 168 | €370 | €172 | -€198 | -53.5% |
| Amounts payable | 17/49 | €506,100 | €385,060 | -€121,040 | -23.9% |
| Amounts payable after more than one year | 17 | €257,376 | €106,252 | -€151,124 | -58.7% |
| Financial debts | 170/4 | €257,376 | €106,252 | -€151,124 | -58.7% |
| Amounts payable within one year | 42/48 | €248,724 | €278,807 | +€30,083 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €112,234 | €50,499 | -€61,735 | -55.0% |
| Trade debts | 44 | €87,658 | €111,652 | +€23,994 | +27.4% |
| Suppliers | 440/4 | €87,658 | €111,652 | +€23,994 | +27.4% |
| Advances received on contracts in progress | 46 | €5,183 | €3,483 | -€1,700 | -32.8% |
| Taxes, remuneration and social security | 45 | €43,649 | €19,970 | -€23,679 | -54.2% |
| Taxes | 450/3 | €11,685 | €8,704 | -€2,981 | -25.5% |
| Remuneration and social security | 454/9 | €31,964 | €11,266 | -€20,698 | -64.8% |
| Other amounts payable | 47/48 | - | €93,203 | +€93,203 | |
| Remuneration, social security and pensions | 62 | €434,112 | €177,294 | -€256,818 | -59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129,257 | €105,670 | -€23,587 | -18.2% |
| Other operating charges | 640/8 | €11,640 | €10,171 | -€1,469 | -12.6% |
| Gross operating margin | 9900 | €576,167 | €346,644 | -€229,523 | -39.8% |
| Operating profit (loss) | 9901 | €1,158 | €53,509 | +€52,351 | +4,520% |
| Financial income | 75/76B | €5,506 | €1,208 | -€4,297 | -78.1% |
| Recurring financial income | 75 | €1,414 | €1,208 | -€206 | -14.6% |
| Non-recurring financial income | 76B | €4,091 | - | -€4,091 | |
| Financial charges | 65/66B | €9,826 | €11,966 | +€2,140 | +21.8% |
| Recurring financial charges | 65 | €9,826 | €11,966 | +€2,140 | +21.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,162 | €42,751 | +€45,914 | |
| Transfer from deferred taxes | 780 | €198 | €198 | -€0 | -0.1% |
| Income taxes | 67/77 | €656 | €683 | +€26 | +4.0% |
| Profit (loss) for the period | 9904 | -€3,620 | €42,266 | +€45,887 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,620 | €42,266 | +€45,887 |
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 14 October 2026 via checked.be.