EULAERTS BEHEER: 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.
EULAERTS BEHEER
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+119%), from €872,289 to €1.9m
of which Assets under construction and advance payments: +€847,228
- Cash +€707,314
up €707,314 (+2,891%), from €24,468 to €731,782
mainly Debts after one year (+€1.3m) and Contributions, distributions and other (+€268,300)
- Debts after one year +€1.3m
up €1.3m (+521%), from €251,274 to €1.6m
- Contributions +€268,300
up €268,300 (+37.8%), from €709,429 to €977,729
- Trade debts +€267,039
up €267,039, from €0 to €267,039
- Profit (loss) carried forward -€95,757
down €95,757 (-160%), from -€60,028 to -€155,785
- Other operating charges +€77,606
up €77,606 (+597%), from €12,997 to €90,603
- Gross operating margin -€12,122
down €12,122, from €9,845 to -€2,277
- Depreciation -€1,943
down €1,943 (-52.0%), from €3,737 to €1,794
- Financial charges +€1,183
new in 2025: €1,183
- Financial income +€100
new in 2025: €100
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 | €900,675 | €2,649,108 | +€1.7m | +194% |
| Fixed assets | 21/28 | €872,289 | €1,908,852 | +€1.0m | +119% |
| Tangible fixed assets | 22/27 | €872,289 | €1,908,852 | +€1.0m | +119% |
| Land and buildings | 22 | €872,289 | €1,061,624 | +€189,335 | +21.7% |
| Assets under construction and advance payments | 27 | - | €847,228 | +€847,228 | |
| Current assets | 29/58 | €28,386 | €740,256 | +€711,869 | +2,508% |
| Amounts receivable within one year | 40/41 | €2,318 | €6,053 | +€3,734 | +161% |
| Trade receivables | 40 | €652 | €0 | -€652 | -100% |
| Other amounts receivable | 41 | €1,666 | €6,053 | +€4,386 | +263% |
| Cash at bank and in hand | 54/58 | €24,468 | €731,782 | +€707,314 | +2,891% |
| Deferred charges and accrued income | 490/1 | €1,600 | €2,421 | +€821 | +51.3% |
| Total equity and liabilities | 10/49 | €900,675 | €2,649,108 | +€1.7m | +194% |
| Equity | 10/15 | €649,402 | €821,944 | +€172,543 | +26.6% |
| Contributions | 10/11 | €709,429 | €977,729 | +€268,300 | +37.8% |
| Profit (loss) carried forward | 14 | -€60,028 | -€155,785 | -€95,757 | -160% |
| Amounts payable | 17/49 | €251,274 | €1,827,164 | +€1.6m | +627% |
| Amounts payable after more than one year | 17 | €251,274 | €1,560,125 | +€1.3m | +521% |
| Financial debts | 170/4 | €251,274 | €1,560,125 | +€1.3m | +521% |
| Amounts payable within one year | 42/48 | €0 | €267,039 | +€267,039 | |
| Trade debts | 44 | €0 | €267,039 | +€267,039 | |
| Suppliers | 440/4 | €0 | €267,039 | +€267,039 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,737 | €1,794 | -€1,943 | -52.0% |
| Other operating charges | 640/8 | €12,997 | €90,603 | +€77,606 | +597% |
| Gross operating margin | 9900 | €9,845 | -€2,277 | -€12,122 | |
| Operating profit (loss) | 9901 | -€6,889 | -€94,675 | -€87,786 | -1,274% |
| Financial income | 75/76B | - | €100 | +€100 | |
| Recurring financial income | 75 | - | €100 | +€100 | |
| Financial charges | 65/66B | - | €1,183 | +€1,183 | |
| Recurring financial charges | 65 | - | €1,183 | +€1,183 | |
| Profit (loss) for the period before taxes | 9903 | -€6,889 | -€95,757 | -€88,868 | -1,290% |
| Profit (loss) for the period | 9904 | -€6,889 | -€95,757 | -€88,868 | -1,290% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,889 | -€95,757 | -€88,868 | -1,290% |
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 23 October 2026 via checked.be.