EURO TIERCE: 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.
What changed
EURO TIERCE
NACE 92.000, Gambling and betting activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4.0m
2024 · €2.1m+€1.9m
Equity
€4.3m
2024 · €2.4m+€1.9m
Cash
€5.7m
2024 · €3.6m+€2.1m
Balance sheet total
€6.4m
2024 · €4.3m+€2.1m
Largest movements
Assets
- Cash +€2.1m
up €2.1m (+60.0%), from €3.6m to €5.7m
mainly Net result for the year (+€4.0m) and Other debts (+€249,570)
Equity and liabilities
- Profit (loss) carried forward +€1.9m
up €1.9m (+85.6%), from €2.2m to €4.2m
- Other debts +€249,570
up €249,570 (+29.5%), from €845,019 to €1.1m
Income statement
- Gross operating margin +€2.9m
up €2.9m (+80.7%), from €3.7m to €6.6m
- Taxes +€998,869
up €998,869 (+105%), from €946,949 to €1.9m
- Staff costs +€203,234
up €203,234 (+74.6%), from €272,517 to €475,752
- Financial charges -€113,612
down €113,612 (-58.1%), from €195,492 to €81,880
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.
Result 2024
€2.1m
Gross operating margin
+€2.9m
Staff costs
-€203,234
Depreciation
-€5,457
Write-downs
+€0
Other operating charges
+€930
Other operating items
+€20,750
Financial income
-€55
Financial charges
+€113,612
Taxes
-€998,869
Result 2025
€4.0m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.2m
Investment
+€3,846
Financing
-€2.1m
Cash 2024
€3.6m
From operations (derived)
+€4.2m
Net result for the year
+€4.0m
Depreciation
+€77,780
Receivables within one year
-€12,967
Deferred charges and accrued income
-€41,858
Trade debts
-€47,668
Tax, wage and social debts
-€673
Other debts
+€249,570
Investment (derived)
+€3,846
Investment in fixed assets (net)
+€3,846
Financing
-€2.1m
Contributions, distributions and other
-€2.1m
Cash 2025
€5.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,303,916 | €6,422,371 | +€2.1m | +49.2% |
| Fixed assets | 21/28 | €359,343 | €277,717 | -€81,626 | -22.7% |
| Intangible fixed assets | 21 | €48,277 | €19,034 | -€29,242 | -60.6% |
| Tangible fixed assets | 22/27 | €83,720 | €35,182 | -€48,538 | -58.0% |
| Plant, machinery and equipment | 23 | €21,710 | €4,679 | -€17,031 | -78.4% |
| Furniture and vehicles | 24 | €62,011 | €30,504 | -€31,507 | -50.8% |
| Financial fixed assets | 28 | €227,346 | €223,500 | -€3,846 | -1.7% |
| Current assets | 29/58 | €3,944,573 | €6,144,654 | +€2.2m | +55.8% |
| Amounts receivable within one year | 40/41 | €362,665 | €375,632 | +€12,967 | +3.6% |
| Trade receivables | 40 | €362,665 | €220,898 | -€141,767 | -39.1% |
| Other amounts receivable | 41 | - | €154,734 | +€154,734 | |
| Cash at bank and in hand | 54/58 | €3,576,279 | €5,721,536 | +€2.1m | +60.0% |
| Deferred charges and accrued income | 490/1 | €5,628 | €47,486 | +€41,858 | +744% |
| Total equity and liabilities | 10/49 | €4,303,916 | €6,422,371 | +€2.1m | +49.2% |
| Equity | 10/15 | €2,377,692 | €4,294,919 | +€1.9m | +80.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €12,500 | €12,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,240,192 | €4,157,419 | +€1.9m | +85.6% |
| Amounts payable | 17/49 | €1,926,224 | €2,127,452 | +€201,228 | +10.4% |
| Amounts payable within one year | 42/48 | €1,926,224 | €2,127,452 | +€201,228 | +10.4% |
| Trade debts | 44 | €916,618 | €868,949 | -€47,668 | -5.2% |
| Suppliers | 440/4 | €916,618 | €868,949 | -€47,668 | -5.2% |
| Taxes, remuneration and social security | 45 | €164,588 | €163,914 | -€673 | -0.4% |
| Taxes | 450/3 | €139,273 | €108,770 | -€30,503 | -21.9% |
| Remuneration and social security | 454/9 | €25,314 | €55,144 | +€29,830 | +118% |
| Other amounts payable | 47/48 | €845,019 | €1,094,589 | +€249,570 | +29.5% |
| Non-recurring operating income | 76A | €2,002 | €5,917 | +€3,915 | +196% |
| Remuneration, social security and pensions | 62 | €272,517 | €475,752 | +€203,234 | +74.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,323 | €77,780 | +€5,457 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€484 | -€484 | -€0 | 0.0% |
| Other operating charges | 640/8 | €3,848 | €2,918 | -€930 | -24.2% |
| Non-recurring operating charges | 66A | €20,750 | - | -€20,750 | |
| Gross operating margin | 9900 | €3,653,370 | €6,600,855 | +€2.9m | +80.7% |
| Operating profit (loss) | 9901 | €3,284,416 | €6,044,890 | +€2.8m | +84.0% |
| Financial income | 75/76B | €89 | €35 | -€55 | -61.2% |
| Recurring financial income | 75 | €89 | €35 | -€55 | -61.2% |
| Financial charges | 65/66B | €195,492 | €81,880 | -€113,612 | -58.1% |
| Recurring financial charges | 65 | €195,492 | €81,880 | -€113,612 | -58.1% |
| Profit (loss) for the period before taxes | 9903 | €3,089,014 | €5,963,045 | +€2.9m | +93.0% |
| Income taxes | 67/77 | €946,949 | €1,945,818 | +€998,869 | +105% |
| Profit (loss) for the period | 9904 | €2,142,065 | €4,017,227 | +€1.9m | +87.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,142,065 | €4,017,227 | +€1.9m | +87.5% |
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 30 October 2026 via checked.be.