EURATIO: 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.
EURATIO
Largest movements
- Tangible fixed assets +€459,839
up €459,839 (+459.4%), from €100,090 to €559,929
of which Land and buildings: +€462,741
- Stocks and contracts +€53,544
up €53,544 (+10.4%), from €513,788 to €567,332
- Receivables within one year -€13,669
down €13,669 (-50.3%), from €27,177 to €13,508
of which Other amounts receivable: -€13,907
- Cash +€13,190
up €13,190 (+232.3%), from €5,678 to €18,867
mainly Debts after one year (+€309,276) and Other debts (+€223,921)
- Debts after one year +€309,276
up €309,276 (+7153.6%), from €4,323 to €313,600
- Other debts +€223,921
up €223,921 (+83.2%), from €269,190 to €493,111
- Trade debts -€63,016
down €63,016 (-79.5%), from €79,251 to €16,236
- Reserves +€34,577
up €34,577 (+409.8%), from €8,437 to €43,013
- Short-term financial debts -€15,000
no longer reported in 2025 (was €15,000)
- Gross operating margin +€68,950
up €68,950 (+50.9%), from €135,443 to €204,393
- Staff costs +€38,371
up €38,371 (+60.0%), from €63,977 to €102,349
- Depreciation +€17,484
up €17,484 (+211.8%), from €8,253 to €25,737
- Financial charges +€9,512
up €9,512 (+125.2%), from €7,598 to €17,110
- Other operating charges +€5,613
up €5,613 (+224.2%), from €2,503 to €8,116
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 | €651,143 | €1,164,047 | +€512,904 | +78.8% |
| Fixed assets | 21/28 | €100,338 | €560,177 | +€459,839 | +458.3% |
| Tangible fixed assets | 22/27 | €100,090 | €559,929 | +€459,839 | +459.4% |
| Land and buildings | 22 | €75,794 | €538,535 | +€462,741 | +610.5% |
| Plant, machinery and equipment | 23 | €5,024 | €6,062 | +€1,038 | +20.7% |
| Furniture and vehicles | 24 | €19,272 | €15,332 | -€3,940 | -20.4% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €550,805 | €603,870 | +€53,065 | +9.6% |
| Stocks and contracts in progress | 3 | €513,788 | €567,332 | +€53,544 | +10.4% |
| Stocks | 30/36 | €513,788 | €567,332 | +€53,544 | +10.4% |
| Amounts receivable within one year | 40/41 | €27,177 | €13,508 | -€13,669 | -50.3% |
| Trade receivables | 40 | - | €238 | +€238 | |
| Other amounts receivable | 41 | €27,177 | €13,270 | -€13,907 | -51.2% |
| Cash at bank and in hand | 54/58 | €5,678 | €18,867 | +€13,190 | +232.3% |
| Deferred charges and accrued income | 490/1 | €4,162 | €4,163 | +€1 | 0.0% |
| Total equity and liabilities | 10/49 | €651,143 | €1,164,047 | +€512,904 | +78.8% |
| Equity | 10/15 | €265,756 | €300,333 | +€34,577 | +13.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €8,437 | €43,013 | +€34,577 | +409.8% |
| Distributable reserves | 133 | €8,437 | €43,013 | +€34,577 | +409.8% |
| Profit (loss) carried forward | 14 | €238,728 | €238,728 | = | 0.0% |
| Amounts payable | 17/49 | €385,387 | €863,714 | +€478,327 | +124.1% |
| Amounts payable after more than one year | 17 | €4,323 | €313,600 | +€309,276 | +7153.6% |
| Financial debts | 170/4 | €4,323 | €313,600 | +€309,276 | +7153.6% |
| Amounts payable within one year | 42/48 | €381,063 | €550,114 | +€169,051 | +44.4% |
| Current portion of amounts payable after more than one year | 42 | €9,958 | €23,569 | +€13,611 | +136.7% |
| Financial debts | 43 | €15,000 | - | -€15,000 | |
| Credit institutions | 430/8 | €15,000 | - | -€15,000 | |
| Trade debts | 44 | €79,251 | €16,236 | -€63,016 | -79.5% |
| Suppliers | 440/4 | €79,251 | €16,236 | -€63,016 | -79.5% |
| Taxes, remuneration and social security | 45 | €7,665 | €17,198 | +€9,534 | +124.4% |
| Taxes | 450/3 | €3,669 | €14,304 | +€10,635 | +289.9% |
| Remuneration and social security | 454/9 | €3,995 | €2,894 | -€1,101 | -27.6% |
| Other amounts payable | 47/48 | €269,190 | €493,111 | +€223,921 | +83.2% |
| Remuneration, social security and pensions | 62 | €63,977 | €102,349 | +€38,371 | +60.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,253 | €25,737 | +€17,484 | +211.8% |
| Other operating charges | 640/8 | €2,503 | €8,116 | +€5,613 | +224.2% |
| Gross operating margin | 9900 | €135,443 | €204,393 | +€68,950 | +50.9% |
| Operating profit (loss) | 9901 | €60,709 | €68,191 | +€7,482 | +12.3% |
| Financial income | 75/76B | €528 | €1,037 | +€509 | +96.5% |
| Recurring financial income | 75 | €528 | €1,037 | +€509 | +96.5% |
| Financial charges | 65/66B | €7,598 | €17,110 | +€9,512 | +125.2% |
| Recurring financial charges | 65 | €7,598 | €17,110 | +€9,512 | +125.2% |
| Profit (loss) for the period before taxes | 9903 | €53,639 | €52,118 | -€1,521 | -2.8% |
| Income taxes | 67/77 | €14,189 | €17,541 | +€3,353 | +23.6% |
| Profit (loss) for the period | 9904 | €39,450 | €34,577 | -€4,873 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,450 | €34,577 | -€4,873 | -12.4% |
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 8 October 2026 via checked.be.