EUROFEN: 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.
EUROFEN
Largest movements
- Stocks and contracts +€80,115
up €80,115 (+85.0%), from €94,305 to €174,420
- Receivables after one year +€22,319
up €22,319 (+4.0%), from €557,973 to €580,292
- Tangible fixed assets -€14,860
down €14,860 (-7.0%), from €213,121 to €198,261
- Cash +€11,376
up €11,376 (+329.1%), from €3,457 to €14,833
mainly Trade debts (+€79,317) and Depreciation (+€25,415)
- Trade debts +€79,317
up €79,317 (+86.4%), from €91,836 to €171,153
- Gross operating margin +€17,743
up €17,743 (+86.8%), from €20,431 to €38,174
- Taxes +€6,096
up €6,096 (+294.2%), from €2,072 to €8,167
- Financial charges -€2,575
down €2,575 (-38.3%), from €6,720 to €4,145
- Financial income +€2,157
up €2,157 (+10.7%), from €20,168 to €22,325
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 | €916,639 | €1,007,054 | +€90,414 | +9.9% |
| Fixed assets | 21/28 | €213,121 | €198,261 | -€14,860 | -7.0% |
| Tangible fixed assets | 22/27 | €213,121 | €198,261 | -€14,860 | -7.0% |
| Land and buildings | 22 | €213,121 | €198,261 | -€14,860 | -7.0% |
| Current assets | 29/58 | €703,519 | €808,793 | +€105,274 | +15.0% |
| Amounts receivable after more than one year | 29 | €557,973 | €580,292 | +€22,319 | +4.0% |
| Other amounts receivable | 291 | €557,973 | €580,292 | +€22,319 | +4.0% |
| Stocks and contracts in progress | 3 | €94,305 | €174,420 | +€80,115 | +85.0% |
| Stocks | 30/36 | €94,305 | €174,420 | +€80,115 | +85.0% |
| Amounts receivable within one year | 40/41 | €44,465 | €35,970 | -€8,495 | -19.1% |
| Trade receivables | 40 | €30,408 | €35,500 | +€5,092 | +16.7% |
| Other amounts receivable | 41 | €14,057 | €470 | -€13,587 | -96.7% |
| Cash at bank and in hand | 54/58 | €3,457 | €14,833 | +€11,376 | +329.1% |
| Deferred charges and accrued income | 490/1 | €3,319 | €3,279 | -€40 | -1.2% |
| Total equity and liabilities | 10/49 | €916,639 | €1,007,054 | +€90,414 | +9.9% |
| Equity | 10/15 | €704,060 | €709,911 | +€5,851 | +0.8% |
| Contributions | 10/11 | €181,662 | €181,662 | = | 0.0% |
| Reserves | 13 | €522,398 | €528,249 | +€5,851 | +1.1% |
| Tax-exempt reserves | 132 | €88,106 | €71,520 | -€16,586 | -18.8% |
| Distributable reserves | 133 | €434,292 | €456,729 | +€22,437 | +5.2% |
| Provisions and deferred taxes | 16 | €29,369 | €23,840 | -€5,529 | -18.8% |
| Deferred taxes | 168 | €29,369 | €23,840 | -€5,529 | -18.8% |
| Amounts payable | 17/49 | €183,211 | €273,303 | +€90,092 | +49.2% |
| Amounts payable within one year | 42/48 | €182,848 | €273,303 | +€90,455 | +49.5% |
| Trade debts | 44 | €91,836 | €171,153 | +€79,317 | +86.4% |
| Suppliers | 440/4 | €91,836 | €171,153 | +€79,317 | +86.4% |
| Taxes, remuneration and social security | 45 | €427 | €8,167 | +€7,741 | +1814.1% |
| Taxes | 450/3 | €427 | €8,167 | +€7,741 | +1814.1% |
| Other amounts payable | 47/48 | €90,585 | €93,982 | +€3,397 | +3.7% |
| Accrued charges and deferred income | 492/3 | €363 | €0 | -€363 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,415 | €25,415 | = | 0.0% |
| Other operating charges | 640/8 | €22,607 | €22,449 | -€158 | -0.7% |
| Gross operating margin | 9900 | €20,431 | €38,174 | +€17,743 | +86.8% |
| Operating profit (loss) | 9901 | -€27,590 | -€9,690 | +€17,900 | +64.9% |
| Financial income | 75/76B | €20,168 | €22,325 | +€2,157 | +10.7% |
| Recurring financial income | 75 | €20,168 | €22,325 | +€2,157 | +10.7% |
| Financial charges | 65/66B | €6,720 | €4,145 | -€2,575 | -38.3% |
| Recurring financial charges | 65 | €6,720 | €4,145 | -€2,575 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | -€14,143 | €8,490 | +€22,632 | |
| Transfer from deferred taxes | 780 | €5,529 | €5,529 | = | 0.0% |
| Income taxes | 67/77 | €2,072 | €8,167 | +€6,096 | +294.2% |
| Profit (loss) for the period | 9904 | -€10,686 | €5,851 | +€16,537 | |
| Transfer from tax-exempt reserves | 789 | €16,586 | €16,586 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,900 | €22,437 | +€16,537 | +280.3% |
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 12 October 2026 via checked.be.