EU-Turn: what changed
EU-Turn
Largest movements
- Cash +€403,499
up €403,499 (+522%), from €77,373 to €480,871
mainly Other debts (+€243,869) and Deferred charges and accrued income (+€200,765)
- Deferred charges and accrued income -€200,765
down €200,765 (-86.9%), from €231,086 to €30,321
- Receivables within one year -€155,278
down €155,278 (-19.3%), from €806,305 to €651,027
of which Other amounts receivable: -€307,650
- Tangible fixed assets +€62,862
up €62,862 (+214%), from €29,392 to €92,254
- Other debts +€243,869
up €243,869 (+65.4%), from €373,055 to €616,924
- Advances received -€60,000
down €60,000 (-13.8%), from €433,413 to €373,413
- Trade debts -€53,172
down €53,172 (-68.5%), from €77,650 to €24,477
- Reserves -€36,002
down €36,002 (-64.6%), from €55,709 to €19,707
- Tax, wage and social debts +€15,396
up €15,396 (+25.3%), from €60,793 to €76,189
of which Remuneration and social security: +€14,593
- Staff costs +€54,066
up €54,066 (+12.4%), from €437,291 to €491,357
- Financial charges -€32,776
down €32,776 (-75.9%), from €43,194 to €10,417
- Gross operating margin -€13,369
down €13,369 (-2.4%), from €550,787 to €537,418
- Financial income -€10,841
down €10,841 (-100.0%), from €10,841 to €1
- Other operating charges -€6,625
down €6,625 (-70.5%), from €9,392 to €2,766
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,152,713 | €1,274,031 | +€121,318 | +10.5% |
| Fixed assets | 21/28 | €37,949 | €111,811 | +€73,862 | +195% |
| Tangible fixed assets | 22/27 | €29,392 | €92,254 | +€62,862 | +214% |
| Furniture and vehicles | 24 | €29,392 | €92,254 | +€62,862 | +214% |
| Financial fixed assets | 28 | €8,557 | €19,557 | +€11,000 | +129% |
| Current assets | 29/58 | €1,114,764 | €1,162,219 | +€47,456 | +4.3% |
| Amounts receivable within one year | 40/41 | €806,305 | €651,027 | -€155,278 | -19.3% |
| Trade receivables | 40 | €194,031 | €346,403 | +€152,372 | +78.5% |
| Other amounts receivable | 41 | €612,274 | €304,624 | -€307,650 | -50.2% |
| Cash at bank and in hand | 54/58 | €77,373 | €480,871 | +€403,499 | +522% |
| Deferred charges and accrued income | 490/1 | €231,086 | €30,321 | -€200,765 | -86.9% |
| Total equity and liabilities | 10/49 | €1,152,713 | €1,274,031 | +€121,318 | +10.5% |
| Equity | 10/15 | €204,646 | €179,788 | -€24,858 | -12.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €55,709 | €19,707 | -€36,002 | -64.6% |
| Distributable reserves | 133 | €55,709 | €19,707 | -€36,002 | -64.6% |
| Profit (loss) carried forward | 14 | €142,738 | €153,881 | +€11,144 | +7.8% |
| Amounts payable | 17/49 | €948,067 | €1,094,243 | +€146,176 | +15.4% |
| Amounts payable within one year | 42/48 | €948,067 | €1,094,243 | +€146,176 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €3,156 | €3,240 | +€84 | +2.6% |
| Trade debts | 44 | €77,650 | €24,477 | -€53,172 | -68.5% |
| Suppliers | 440/4 | €77,650 | €24,477 | -€53,172 | -68.5% |
| Advances received on contracts in progress | 46 | €433,413 | €373,413 | -€60,000 | -13.8% |
| Taxes, remuneration and social security | 45 | €60,793 | €76,189 | +€15,396 | +25.3% |
| Taxes | 450/3 | €6,191 | €6,993 | +€802 | +13.0% |
| Remuneration and social security | 454/9 | €54,602 | €69,196 | +€14,593 | +26.7% |
| Other amounts payable | 47/48 | €373,055 | €616,924 | +€243,869 | +65.4% |
| Remuneration, social security and pensions | 62 | €437,291 | €491,357 | +€54,066 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,497 | €10,520 | -€977 | -8.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,607 | - | +€5,607 | |
| Other operating charges | 640/8 | €9,392 | €2,766 | -€6,625 | -70.5% |
| Gross operating margin | 9900 | €550,787 | €537,418 | -€13,369 | -2.4% |
| Operating profit (loss) | 9901 | €98,215 | €32,775 | -€65,441 | -66.6% |
| Financial income | 75/76B | €10,841 | €1 | -€10,841 | -100.0% |
| Recurring financial income | 75 | €10,841 | €1 | -€10,841 | -100.0% |
| Financial charges | 65/66B | €43,194 | €10,417 | -€32,776 | -75.9% |
| Recurring financial charges | 65 | €43,194 | €10,417 | -€32,776 | -75.9% |
| Profit (loss) for the period before taxes | 9903 | €65,863 | €22,359 | -€43,505 | -66.1% |
| Income taxes | 67/77 | €8,756 | €11,215 | +€2,459 | +28.1% |
| Profit (loss) for the period | 9904 | €57,108 | €11,144 | -€45,964 | -80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €57,108 | €11,144 | -€45,964 | -80.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.