Eurobat: 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
Eurobat
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€126,146
2024 · €48,992+€77,154
Equity
€1.9m
2024 · €1.8m+€66,146
Cash
€142,409
2024 · €40,651+€101,757
Balance sheet total
€4.0m
2024 · €4.1m-€35,825
Largest movements
Assets
- Tangible fixed assets -€144,694
down €144,694 (-3.9%), from €3.7m to €3.6m
of which Land and buildings: -€92,016
- Cash +€101,757
up €101,757 (+250.3%), from €40,651 to €142,409
mainly Depreciation (+€185,404) and Net result for the year (+€126,146)
Equity and liabilities
- Debts after one year -€110,699
down €110,699 (-8.3%), from €1.3m to €1.2m
- Profit (loss) carried forward +€68,642
up €68,642 (+129.9%), from €52,841 to €121,483
Income statement
- Gross operating margin +€77,484
up €77,484 (+23.2%), from €334,117 to €411,601
- Financial charges -€4,677
down €4,677 (-6.3%), from €74,580 to €69,903
- Other operating charges +€4,657
up €4,657 (+10.8%), from €43,195 to €47,851
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
€48,992
Gross operating margin
+€77,484
Depreciation
-€531
Other operating charges
-€4,657
Financial income
+€327
Financial charges
+€4,677
Taxes
-€146
Result 2025
€126,146
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.
From operations
+€310,625
Investment
-€40,710
Financing
-€168,157
Cash 2024
€40,651
From operations (derived)
+€310,625
Net result for the year
+€126,146
Depreciation
+€185,404
Receivables within one year
-€7,111
Provisions
-€832
Trade debts
+€831
Tax, wage and social debts
-€15,000
Other debts
+€21,187
Investment (derived)
-€40,710
Investment in fixed assets (net)
-€40,710
Financing
-€168,157
Debts after one year
-€110,699
Current portion of long-term debt
+€2,542
Contributions, distributions and other
-€60,000
Cash 2025
€142,409
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,056,870 | €4,021,045 | -€35,825 | -0.9% |
| Fixed assets | 21/28 | €4,000,019 | €3,855,325 | -€144,694 | -3.6% |
| Tangible fixed assets | 22/27 | €3,698,947 | €3,554,253 | -€144,694 | -3.9% |
| Land and buildings | 22 | €2,072,460 | €1,980,444 | -€92,016 | -4.4% |
| Plant, machinery and equipment | 23 | €1,625,862 | €1,573,184 | -€52,678 | -3.2% |
| Other tangible fixed assets | 26 | €625 | €625 | = | 0.0% |
| Financial fixed assets | 28 | €301,072 | €301,072 | = | 0.0% |
| Current assets | 29/58 | €56,851 | €165,720 | +€108,869 | +191.5% |
| Amounts receivable within one year | 40/41 | €16,200 | €23,311 | +€7,111 | +43.9% |
| Other amounts receivable | 41 | €16,200 | €23,311 | +€7,111 | +43.9% |
| Cash at bank and in hand | 54/58 | €40,651 | €142,409 | +€101,757 | +250.3% |
| Total equity and liabilities | 10/49 | €4,056,870 | €4,021,045 | -€35,825 | -0.9% |
| Equity | 10/15 | €1,795,978 | €1,862,124 | +€66,146 | +3.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,681,137 | €1,678,641 | -€2,495 | -0.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €462,570 | €460,075 | -€2,495 | -0.5% |
| Distributable reserves | 133 | €1,212,366 | €1,212,366 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,841 | €121,483 | +€68,642 | +129.9% |
| Provisions and deferred taxes | 16 | €21,315 | €20,483 | -€832 | -3.9% |
| Provisions for liabilities and charges | 160/5 | €21,315 | €20,483 | -€832 | -3.9% |
| Environmental obligations | 163 | €21,315 | €20,483 | -€832 | -3.9% |
| Amounts payable | 17/49 | €2,239,578 | €2,138,437 | -€101,140 | -4.5% |
| Amounts payable after more than one year | 17 | €1,331,752 | €1,221,053 | -€110,699 | -8.3% |
| Financial debts | 170/4 | €1,331,752 | €1,221,053 | -€110,699 | -8.3% |
| Amounts payable within one year | 42/48 | €907,826 | €917,385 | +€9,559 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €108,157 | €110,699 | +€2,542 | +2.4% |
| Trade debts | 44 | €14,519 | €15,350 | +€831 | +5.7% |
| Suppliers | 440/4 | €14,519 | €15,350 | +€831 | +5.7% |
| Taxes, remuneration and social security | 45 | €15,000 | - | -€15,000 | |
| Taxes | 450/3 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €770,150 | €791,336 | +€21,187 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,873 | €185,404 | +€531 | +0.3% |
| Other operating charges | 640/8 | €43,195 | €47,851 | +€4,657 | +10.8% |
| Gross operating margin | 9900 | €334,117 | €411,601 | +€77,484 | +23.2% |
| Operating profit (loss) | 9901 | €106,050 | €178,346 | +€72,296 | +68.2% |
| Financial income | 75/76B | €16,693 | €17,020 | +€327 | +2.0% |
| Recurring financial income | 75 | €16,693 | €17,020 | +€327 | +2.0% |
| Financial charges | 65/66B | €74,580 | €69,903 | -€4,677 | -6.3% |
| Recurring financial charges | 65 | €74,580 | €69,903 | -€4,677 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €48,163 | €125,463 | +€77,300 | +160.5% |
| Transfer from deferred taxes | 780 | €832 | €832 | = | 0.0% |
| Income taxes | 67/77 | €3 | €148 | +€146 | +5781.7% |
| Profit (loss) for the period | 9904 | €48,992 | €126,146 | +€77,154 | +157.5% |
| Transfer from tax-exempt reserves | 789 | €2,495 | €2,495 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,488 | €128,642 | +€77,154 | +149.8% |
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 9 October 2026 via checked.be.