ETS BEAUJEAN: 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.
ETS BEAUJEAN
Largest movements
- Tangible fixed assets +€803,099
up €803,099 (+282%), from €284,513 to €1.1m
of which Land and buildings: +€801,562
- Current investments -€90,491
down €90,491 (-89.9%), from €100,634 to €10,143
- Cash -€15,053
down €15,053 (-74.9%), from €20,098 to €5,044
mainly Investment in fixed assets (net) (-€825,813) and Net result for the year (-€17,539)
- Receivables within one year -€12,206
down €12,206 (-70.2%), from €17,377 to €5,171
of which Other amounts receivable: -€12,481
- Debts after one year +€590,231
new in 2025: €590,231
of which Other amounts payable: +€350,000
- Short-term financial debts +€100,000
new in 2025: €100,000
- Profit (loss) carried forward -€17,539
down €17,539 (-8.4%), from €207,714 to €190,174
- Gross operating margin -€14,339
down €14,339 (-50.8%), from €28,219 to €13,880
- Financial charges -€4,284
down €4,284 (-68.0%), from €6,299 to €2,014
- Other operating charges +€865
up €865 (+10.4%), from €8,349 to €9,214
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 | €423,056 | €1,109,926 | +€686,871 | +162% |
| Fixed assets | 21/28 | €284,513 | €1,087,612 | +€803,099 | +282% |
| Tangible fixed assets | 22/27 | €284,513 | €1,087,612 | +€803,099 | +282% |
| Land and buildings | 22 | €225,144 | €1,026,705 | +€801,562 | +356% |
| Plant, machinery and equipment | 23 | - | €3,412 | +€3,412 | |
| Furniture and vehicles | 24 | €25,226 | €33,070 | +€7,845 | +31.1% |
| Other tangible fixed assets | 26 | €34,144 | €24,424 | -€9,720 | -28.5% |
| Current assets | 29/58 | €138,543 | €22,315 | -€116,228 | -83.9% |
| Amounts receivable within one year | 40/41 | €17,377 | €5,171 | -€12,206 | -70.2% |
| Trade receivables | 40 | - | €274 | +€274 | |
| Other amounts receivable | 41 | €17,377 | €4,896 | -€12,481 | -71.8% |
| Current investments | 50/53 | €100,634 | €10,143 | -€90,491 | -89.9% |
| Cash at bank and in hand | 54/58 | €20,098 | €5,044 | -€15,053 | -74.9% |
| Deferred charges and accrued income | 490/1 | €435 | €1,956 | +€1,522 | +350% |
| Total equity and liabilities | 10/49 | €423,056 | €1,109,926 | +€686,871 | +162% |
| Equity | 10/15 | €276,876 | €259,337 | -€17,539 | -6.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €7,189 | €7,189 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €992 | €992 | = | 0.0% |
| Profit (loss) carried forward | 14 | €207,714 | €190,174 | -€17,539 | -8.4% |
| Amounts payable | 17/49 | €146,180 | €850,590 | +€704,410 | +482% |
| Amounts payable after more than one year | 17 | - | €590,231 | +€590,231 | |
| Financial debts | 170/4 | - | €240,231 | +€240,231 | |
| Other amounts payable | 178/9 | - | €350,000 | +€350,000 | |
| Amounts payable within one year | 42/48 | €117,694 | €222,626 | +€104,932 | +89.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,769 | +€9,769 | |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €32,295 | €24,051 | -€8,244 | -25.5% |
| Suppliers | 440/4 | €32,295 | €24,051 | -€8,244 | -25.5% |
| Taxes, remuneration and social security | 45 | €1,890 | - | -€1,890 | |
| Taxes | 450/3 | €1,890 | - | -€1,890 | |
| Other amounts payable | 47/48 | €83,510 | €88,806 | +€5,296 | +6.3% |
| Accrued charges and deferred income | 492/3 | €28,486 | €37,733 | +€9,248 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,937 | €22,715 | -€222 | -1.0% |
| Other operating charges | 640/8 | €8,349 | €9,214 | +€865 | +10.4% |
| Gross operating margin | 9900 | €28,219 | €13,880 | -€14,339 | -50.8% |
| Operating profit (loss) | 9901 | -€3,067 | -€18,050 | -€14,982 | -488% |
| Financial income | 75/76B | €2,294 | €2,524 | +€231 | +10.1% |
| Recurring financial income | 75 | €2,294 | €2,524 | +€231 | +10.1% |
| Financial charges | 65/66B | €6,299 | €2,014 | -€4,284 | -68.0% |
| Recurring financial charges | 65 | €6,299 | €2,014 | -€4,284 | -68.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,072 | -€17,539 | -€10,467 | -148% |
| Profit (loss) for the period | 9904 | -€7,072 | -€17,539 | -€10,467 | -148% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,072 | -€17,539 | -€10,467 | -148% |
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 21 October 2026 via checked.be.