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.
EUROBAT
Largest movements
- Cash +€179,806
up €179,806 (+19.6%), from €919,668 to €1.1m
mainly Net result for the year (+€244,515) and Depreciation (+€155,273)
- Tangible fixed assets -€71,974
down €71,974 (-20.6%), from €348,826 to €276,852
of which Plant, machinery and equipment: -€40,722
- Current investments +€65,000
up €65,000 (+12.1%), from €535,000 to €600,000
- Receivables within one year -€49,742
down €49,742 (-36.0%), from €138,227 to €88,485
of which Trade receivables: -€77,318
- Other debts +€135,945
up €135,945 (+250.3%), from €54,309 to €190,254
- Profit (loss) carried forward +€124,515
up €124,515 (+10.0%), from €1.2m to €1.4m
- Reserves -€65,000
down €65,000 (-15.4%), from €421,859 to €356,859
of which Distributable reserves: -€65,000
- Debts after one year -€31,195
down €31,195 (-70.0%), from €44,536 to €13,341
- Provisions -€22,000
down €22,000 (-73.3%), from €30,000 to €8,000
- Gross operating margin +€126,964
up €126,964 (+12.4%), from €1.0m to €1.2m
- Taxes +€27,465
up €27,465 (+40.0%), from €68,593 to €96,058
- Provisions +€14,205
up €14,205 (+39.2%), from -€36,205 to -€22,000
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 | €1,988,546 | €2,127,120 | +€138,574 | +7.0% |
| Fixed assets | 21/28 | €349,013 | €277,038 | -€71,974 | -20.6% |
| Tangible fixed assets | 22/27 | €348,826 | €276,852 | -€71,974 | -20.6% |
| Land and buildings | 22 | €12,395 | €12,395 | = | 0.0% |
| Plant, machinery and equipment | 23 | €75,215 | €34,493 | -€40,722 | -54.1% |
| Furniture and vehicles | 24 | €261,216 | €229,964 | -€31,252 | -12.0% |
| Financial fixed assets | 28 | €186 | €186 | = | 0.0% |
| Current assets | 29/58 | €1,639,533 | €1,850,082 | +€210,548 | +12.8% |
| Stocks and contracts in progress | 3 | €18,025 | €18,192 | +€167 | +0.9% |
| Stocks | 30/36 | €18,025 | €18,192 | +€167 | +0.9% |
| Amounts receivable within one year | 40/41 | €138,227 | €88,485 | -€49,742 | -36.0% |
| Trade receivables | 40 | €121,317 | €43,999 | -€77,318 | -63.7% |
| Other amounts receivable | 41 | €16,910 | €44,487 | +€27,577 | +163.1% |
| Current investments | 50/53 | €535,000 | €600,000 | +€65,000 | +12.1% |
| Cash at bank and in hand | 54/58 | €919,668 | €1,099,474 | +€179,806 | +19.6% |
| Deferred charges and accrued income | 490/1 | €28,613 | €43,930 | +€15,317 | +53.5% |
| Total equity and liabilities | 10/49 | €1,988,546 | €2,127,120 | +€138,574 | +7.0% |
| Equity | 10/15 | €1,692,393 | €1,751,908 | +€59,515 | +3.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €421,859 | €356,859 | -€65,000 | -15.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €420,000 | €355,000 | -€65,000 | -15.5% |
| Profit (loss) carried forward | 14 | €1,247,398 | €1,371,913 | +€124,515 | +10.0% |
| Investment grants | 15 | €4,544 | €4,544 | = | 0.0% |
| Provisions and deferred taxes | 16 | €30,000 | €8,000 | -€22,000 | -73.3% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €8,000 | -€22,000 | -73.3% |
| Pensions and similar obligations | 160 | €30,000 | €8,000 | -€22,000 | -73.3% |
| Amounts payable | 17/49 | €266,153 | €367,212 | +€101,059 | +38.0% |
| Amounts payable after more than one year | 17 | €44,536 | €13,341 | -€31,195 | -70.0% |
| Financial debts | 170/4 | €44,536 | €13,341 | -€31,195 | -70.0% |
| Amounts payable within one year | 42/48 | €221,617 | €353,871 | +€132,255 | +59.7% |
| Current portion of amounts payable after more than one year | 42 | €30,067 | €31,195 | +€1,129 | +3.8% |
| Trade debts | 44 | €84,086 | €80,792 | -€3,294 | -3.9% |
| Suppliers | 440/4 | €84,086 | €80,792 | -€3,294 | -3.9% |
| Taxes, remuneration and social security | 45 | €53,155 | €51,630 | -€1,525 | -2.9% |
| Taxes | 450/3 | €9,385 | €6,493 | -€2,892 | -30.8% |
| Remuneration and social security | 454/9 | €43,770 | €45,137 | +€1,367 | +3.1% |
| Other amounts payable | 47/48 | €54,309 | €190,254 | +€135,945 | +250.3% |
| Remuneration, social security and pensions | 62 | €671,786 | €676,007 | +€4,220 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,056 | €155,273 | +€10,217 | +7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,855 | - | -€3,855 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€36,205 | -€22,000 | +€14,205 | +39.2% |
| Other operating charges | 640/8 | €9,921 | €10,775 | +€854 | +8.6% |
| Gross operating margin | 9900 | €1,025,207 | €1,152,171 | +€126,964 | +12.4% |
| Operating profit (loss) | 9901 | €230,794 | €332,116 | +€101,322 | +43.9% |
| Financial income | 75/76B | €12,856 | €11,924 | -€932 | -7.3% |
| Recurring financial income | 75 | €12,856 | €11,924 | -€932 | -7.3% |
| Financial charges | 65/66B | €4,418 | €3,468 | -€950 | -21.5% |
| Recurring financial charges | 65 | €4,418 | €3,468 | -€950 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €239,232 | €340,573 | +€101,340 | +42.4% |
| Income taxes | 67/77 | €68,593 | €96,058 | +€27,465 | +40.0% |
| Profit (loss) for the period | 9904 | €170,640 | €244,515 | +€73,875 | +43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €170,640 | €244,515 | +€73,875 | +43.3% |
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 10 October 2026 via checked.be.