EUROBEL: 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.
EUROBEL
Largest movements
- Stocks and contracts -€396,951
down €396,951 (-11.5%), from €3.5m to €3.1m
- Receivables within one year -€148,271
down €148,271 (-30.9%), from €479,690 to €331,419
of which Trade receivables: -€135,634
- Other debts -€524,061
down €524,061 (-30.1%), from €1.7m to €1.2m
- Profit (loss) carried forward -€152,427
new in 2025: -€152,427
- Trade debts +€132,396
up €132,396 (+14.9%), from €888,659 to €1.0m
- Financial charges -€68,996
down €68,996, from €67,419 to -€1,577
- Financial income -€58,489
no longer reported in 2025 (was €58,489)
- Write-downs -€20,704
no longer reported in 2025 (was €20,704)
- Gross operating margin +€9,702
up €9,702 (+6.1%), from -€158,381 to -€148,679
- Taxes +€2,930
up €2,930 (+655%), from €447 to €3,377
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,133,333 | €3,601,146 | -€532,187 | -12.9% |
| Fixed assets | 21/28 | €15,315 | €15,854 | +€538 | +3.5% |
| Tangible fixed assets | 22/27 | €14,676 | €15,214 | +€538 | +3.7% |
| Land and buildings | 22 | €13,719 | €13,083 | -€636 | -4.6% |
| Plant, machinery and equipment | 23 | €0 | €1,175 | +€1,175 | |
| Furniture and vehicles | 24 | €957 | €957 | = | 0.0% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €639 | €639 | = | 0.0% |
| Current assets | 29/58 | €4,118,018 | €3,585,292 | -€532,725 | -12.9% |
| Stocks and contracts in progress | 3 | €3,458,526 | €3,061,575 | -€396,951 | -11.5% |
| Stocks | 30/36 | €3,458,526 | €3,061,575 | -€396,951 | -11.5% |
| Amounts receivable within one year | 40/41 | €479,690 | €331,419 | -€148,271 | -30.9% |
| Trade receivables | 40 | €336,196 | €200,562 | -€135,634 | -40.3% |
| Other amounts receivable | 41 | €143,494 | €130,857 | -€12,637 | -8.8% |
| Cash at bank and in hand | 54/58 | €178,164 | €191,785 | +€13,620 | +7.6% |
| Deferred charges and accrued income | 490/1 | €1,637 | €514 | -€1,123 | -68.6% |
| Total equity and liabilities | 10/49 | €4,133,333 | €3,601,146 | -€532,187 | -12.9% |
| Equity | 10/15 | €1,189,067 | €1,036,640 | -€152,427 | -12.8% |
| Contributions | 10/11 | €283,600 | €283,600 | = | 0.0% |
| Reserves | 13 | €905,467 | €905,467 | = | 0.0% |
| Distributable reserves | 133 | €905,467 | €905,467 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€152,427 | -€152,427 | |
| Amounts payable | 17/49 | €2,944,265 | €2,564,506 | -€379,759 | -12.9% |
| Amounts payable after more than one year | 17 | €310,000 | €310,000 | = | 0.0% |
| Financial debts | 170/4 | €310,000 | €310,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,634,265 | €2,254,506 | -€379,759 | -14.4% |
| Trade debts | 44 | €888,659 | €1,021,054 | +€132,396 | +14.9% |
| Suppliers | 440/4 | €888,659 | €1,021,054 | +€132,396 | +14.9% |
| Taxes, remuneration and social security | 45 | €2,094 | €14,000 | +€11,906 | +569% |
| Taxes | 450/3 | €94 | - | -€94 | |
| Remuneration and social security | 454/9 | €2,000 | €14,000 | +€12,000 | +600% |
| Other amounts payable | 47/48 | €1,743,513 | €1,219,451 | -€524,061 | -30.1% |
| Remuneration, social security and pensions | 62 | €293 | - | -€293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €636 | €677 | +€41 | +6.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,704 | - | -€20,704 | |
| Other operating charges | 640/8 | €2,054 | €1,271 | -€784 | -38.1% |
| Gross operating margin | 9900 | -€158,381 | -€148,679 | +€9,702 | +6.1% |
| Operating profit (loss) | 9901 | -€182,069 | -€150,627 | +€31,441 | +17.3% |
| Financial income | 75/76B | €58,489 | - | -€58,489 | |
| Recurring financial income | 75 | €58,489 | - | -€58,489 | |
| Financial charges | 65/66B | €67,419 | -€1,577 | -€68,996 | |
| Recurring financial charges | 65 | €67,419 | -€1,577 | -€68,996 | |
| Profit (loss) for the period before taxes | 9903 | -€190,998 | -€149,050 | +€41,948 | +22.0% |
| Income taxes | 67/77 | €447 | €3,377 | +€2,930 | +655% |
| Profit (loss) for the period | 9904 | -€191,445 | -€152,427 | +€39,018 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€191,445 | -€152,427 | +€39,018 | +20.4% |
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 17 October 2026 via checked.be.