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
- Current investments -€295,000
down €295,000 (-36.0%), from €820,000 to €525,000
- Financial fixed assets +€176,585
up €176,585 (+18.9%), from €932,591 to €1.1m
- Cash +€33,812
up €33,812 (+284.8%), from €11,874 to €45,686
mainly Current investments (+€295,000) and Other debts (+€27,500)
- Profit (loss) carried forward -€103,993
down €103,993 (-16.8%), from -€618,982 to -€722,974
- Other debts +€27,500
new in 2025: €27,500
- Financial charges -€166,511
down €166,511 (-64.6%), from €257,660 to €91,149
of which Non-recurring financial charges: -€165,090
- Financial income -€18,248
down €18,248 (-40.1%), from €45,464 to €27,216
- Gross operating margin -€2,140
down €2,140 (-5.8%), from -€36,793 to -€38,933
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 | €1,790,486 | €1,712,654 | -€77,832 | -4.3% |
| Fixed assets | 21/28 | €932,591 | €1,109,176 | +€176,585 | +18.9% |
| Financial fixed assets | 28 | €932,591 | €1,109,176 | +€176,585 | +18.9% |
| Current assets | 29/58 | €857,895 | €603,478 | -€254,417 | -29.7% |
| Amounts receivable within one year | 40/41 | €13,187 | €11,108 | -€2,079 | -15.8% |
| Other amounts receivable | 41 | €13,187 | €11,108 | -€2,079 | -15.8% |
| Current investments | 50/53 | €820,000 | €525,000 | -€295,000 | -36.0% |
| Cash at bank and in hand | 54/58 | €11,874 | €45,686 | +€33,812 | +284.8% |
| Deferred charges and accrued income | 490/1 | €12,835 | €21,684 | +€8,850 | +69.0% |
| Total equity and liabilities | 10/49 | €1,790,486 | €1,712,654 | -€77,832 | -4.3% |
| Equity | 10/15 | €1,779,439 | €1,675,446 | -€103,993 | -5.8% |
| Contributions | 10/11 | €2,398,421 | €2,398,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€618,982 | -€722,974 | -€103,993 | -16.8% |
| Amounts payable | 17/49 | €11,048 | €37,208 | +€26,161 | +236.8% |
| Amounts payable within one year | 42/48 | €5,665 | €35,291 | +€29,627 | +523.0% |
| Trade debts | 44 | €5,665 | €7,791 | +€2,127 | +37.5% |
| Suppliers | 440/4 | €5,665 | €7,791 | +€2,127 | +37.5% |
| Other amounts payable | 47/48 | - | €27,500 | +€27,500 | |
| Accrued charges and deferred income | 492/3 | €5,383 | €1,917 | -€3,466 | -64.4% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€36,793 | -€38,933 | -€2,140 | -5.8% |
| Operating profit (loss) | 9901 | -€37,887 | -€40,060 | -€2,173 | -5.7% |
| Financial income | 75/76B | €45,464 | €27,216 | -€18,248 | -40.1% |
| Recurring financial income | 75 | €45,464 | €27,216 | -€18,248 | -40.1% |
| Financial charges | 65/66B | €257,660 | €91,149 | -€166,511 | -64.6% |
| Recurring financial charges | 65 | €1,556 | €136 | -€1,421 | -91.3% |
| Non-recurring financial charges | 66B | €256,104 | €91,013 | -€165,090 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | -€250,083 | -€103,993 | +€146,090 | +58.4% |
| Profit (loss) for the period | 9904 | -€250,083 | -€103,993 | +€146,090 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€250,083 | -€103,993 | +€146,090 | +58.4% |
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 3 October 2026 via checked.be.