EUPHORIA: 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.
EUPHORIA
Largest movements
- Cash +€45,457
up €45,457 (+24.2%), from €187,828 to €233,285
mainly Net result for the year (+€88,614) and Tax, wage and social debts (+€13,193)
- Tangible fixed assets +€20,537
up €20,537 (+46.4%), from €44,249 to €64,785
of which Plant, machinery and equipment: +€24,093
- Receivables within one year +€15,080
up €15,080 (+148.2%), from €10,176 to €25,256
of which Trade receivables: +€14,731
- Reserves +€88,000
up €88,000 (+44.6%), from €197,500 to €285,500
- Tax, wage and social debts +€13,193
up €13,193 (+89.1%), from €14,811 to €28,004
- Debts after one year -€7,953
down €7,953 (-51.0%), from €15,596 to €7,643
- Other debts -€5,494
no longer reported in 2025 (was €5,494)
- Accrued charges and deferred income -€4,770
down €4,770 (-70.3%), from €6,785 to €2,015
- Gross operating margin +€16,726
up €16,726 (+13.1%), from €127,776 to €144,503
- Taxes +€3,047
up €3,047 (+8.0%), from €38,280 to €41,327
- Depreciation +€1,980
up €1,980 (+19.0%), from €10,398 to €12,378
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 | €255,830 | €341,905 | +€86,075 | +33.6% |
| Fixed assets | 21/28 | €44,249 | €64,785 | +€20,537 | +46.4% |
| Tangible fixed assets | 22/27 | €44,249 | €64,785 | +€20,537 | +46.4% |
| Plant, machinery and equipment | 23 | €15,145 | €39,237 | +€24,093 | +159.1% |
| Furniture and vehicles | 24 | €29,104 | €25,548 | -€3,556 | -12.2% |
| Current assets | 29/58 | €211,581 | €277,120 | +€65,538 | +31.0% |
| Stocks and contracts in progress | 3 | €13,487 | €16,764 | +€3,277 | +24.3% |
| Stocks | 30/36 | €13,487 | €16,764 | +€3,277 | +24.3% |
| Amounts receivable within one year | 40/41 | €10,176 | €25,256 | +€15,080 | +148.2% |
| Trade receivables | 40 | €9,876 | €24,606 | +€14,731 | +149.2% |
| Other amounts receivable | 41 | €300 | €650 | +€350 | +116.5% |
| Cash at bank and in hand | 54/58 | €187,828 | €233,285 | +€45,457 | +24.2% |
| Deferred charges and accrued income | 490/1 | €91 | €1,814 | +€1,724 | +1898.3% |
| Total equity and liabilities | 10/49 | €255,830 | €341,905 | +€86,075 | +33.6% |
| Equity | 10/15 | €204,432 | €293,046 | +€88,614 | +43.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €197,500 | €285,500 | +€88,000 | +44.6% |
| Distributable reserves | 133 | €197,500 | €285,500 | +€88,000 | +44.6% |
| Profit (loss) carried forward | 14 | €4,932 | €5,546 | +€614 | +12.5% |
| Amounts payable | 17/49 | €51,398 | €48,859 | -€2,540 | -4.9% |
| Amounts payable after more than one year | 17 | €15,596 | €7,643 | -€7,953 | -51.0% |
| Financial debts | 170/4 | €15,596 | €7,643 | -€7,953 | -51.0% |
| Amounts payable within one year | 42/48 | €29,017 | €39,201 | +€10,184 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €7,345 | €7,953 | +€608 | +8.3% |
| Trade debts | 44 | €1,367 | €3,244 | +€1,877 | +137.3% |
| Suppliers | 440/4 | €1,367 | €3,244 | +€1,877 | +137.3% |
| Taxes, remuneration and social security | 45 | €14,811 | €28,004 | +€13,193 | +89.1% |
| Taxes | 450/3 | €14,811 | €28,004 | +€13,193 | +89.1% |
| Other amounts payable | 47/48 | €5,494 | - | -€5,494 | |
| Accrued charges and deferred income | 492/3 | €6,785 | €2,015 | -€4,770 | -70.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,398 | €12,378 | +€1,980 | +19.0% |
| Other operating charges | 640/8 | €778 | €617 | -€161 | -20.7% |
| Gross operating margin | 9900 | €127,776 | €144,503 | +€16,726 | +13.1% |
| Operating profit (loss) | 9901 | €116,600 | €131,508 | +€14,908 | +12.8% |
| Financial income | 75/76B | €86 | €68 | -€18 | -21.0% |
| Recurring financial income | 75 | €86 | €68 | -€18 | -21.0% |
| Financial charges | 65/66B | €1,721 | €1,635 | -€86 | -5.0% |
| Recurring financial charges | 65 | €1,721 | €1,635 | -€86 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €114,966 | €129,941 | +€14,975 | +13.0% |
| Income taxes | 67/77 | €38,280 | €41,327 | +€3,047 | +8.0% |
| Profit (loss) for the period | 9904 | €76,686 | €88,614 | +€11,928 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €76,686 | €88,614 | +€11,928 | +15.6% |
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 8 October 2026 via checked.be.