EUROPA: 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.
EUROPA
Largest movements
- Tangible fixed assets +€2,392
up €2,392 (+42.4%), from €5,647 to €8,039
of which Other tangible fixed assets: +€2,392
- Profit (loss) carried forward +€9,319
up €9,319 (+89.9%), from -€10,364 to -€1,045
- Short-term financial debts -€3,056
down €3,056 (-21.1%), from €14,466 to €11,410
- Tax, wage and social debts -€2,346
down €2,346 (-75.8%), from €3,094 to €749
of which Remuneration and social security: -€2,142
- Other debts -€1,868
down €1,868 (-15.8%), from €11,787 to €9,919
- Current portion of long-term debt -€1,698
down €1,698 (-64.1%), from €2,649 to €952
- Gross operating margin -€37,713
down €37,713 (-45.6%), from €82,706 to €44,993
- Staff costs -€28,800
down €28,800 (-71.8%), from €40,103 to €11,303
- Financial charges +€7,202
up €7,202 (+102%), from €7,054 to €14,256
- Other operating charges +€6,657
up €6,657 (+994%), from €670 to €7,327
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 | €52,369 | €53,782 | +€1,413 | +2.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €6,355 | €8,747 | +€2,392 | +37.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €5,647 | €8,039 | +€2,392 | +42.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €5,647 | €8,039 | +€2,392 | +42.4% |
| Financial fixed assets | 28 | €708 | €708 | = | 0.0% |
| Current assets | 29/58 | €46,014 | €45,035 | -€979 | -2.1% |
| Amounts receivable within one year | 40/41 | €18,375 | €18,253 | -€122 | -0.7% |
| Trade receivables | 40 | €18,336 | €16,514 | -€1,822 | -9.9% |
| Other amounts receivable | 41 | €39 | €1,739 | +€1,700 | +4,358% |
| Cash at bank and in hand | 54/58 | €26,190 | €25,703 | -€487 | -1.9% |
| Deferred charges and accrued income | 490/1 | €1,450 | €1,080 | -€369 | -25.5% |
| Total equity and liabilities | 10/49 | €52,369 | €53,782 | +€1,413 | +2.7% |
| Equity | 10/15 | €15,305 | €24,624 | +€9,319 | +60.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,069 | €7,069 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,606 | €3,606 | = | 0.0% |
| Distributable reserves | 133 | €3,463 | €3,463 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,364 | -€1,045 | +€9,319 | +89.9% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Amounts payable | 17/49 | €37,064 | €29,158 | -€7,906 | -21.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €37,064 | €29,158 | -€7,906 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €2,649 | €952 | -€1,698 | -64.1% |
| Financial debts | 43 | €14,466 | €11,410 | -€3,056 | -21.1% |
| Credit institutions | 430/8 | €14,466 | €11,410 | -€3,056 | -21.1% |
| Trade debts | 44 | €5,067 | €6,128 | +€1,061 | +20.9% |
| Suppliers | 440/4 | €5,067 | €6,128 | +€1,061 | +20.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,094 | €749 | -€2,346 | -75.8% |
| Taxes | 450/3 | €203 | - | -€203 | |
| Remuneration and social security | 454/9 | €2,891 | €749 | -€2,142 | -74.1% |
| Other amounts payable | 47/48 | €11,787 | €9,919 | -€1,868 | -15.8% |
| Remuneration, social security and pensions | 62 | €40,103 | €11,303 | -€28,800 | -71.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,847 | €3,171 | +€325 | +11.4% |
| Other operating charges | 640/8 | €670 | €7,327 | +€6,657 | +994% |
| Gross operating margin | 9900 | €82,706 | €44,993 | -€37,713 | -45.6% |
| Operating profit (loss) | 9901 | €39,086 | €23,191 | -€15,895 | -40.7% |
| Financial income | 75/76B | €175 | €384 | +€209 | +120% |
| Recurring financial income | 75 | €175 | €384 | +€209 | +120% |
| Financial charges | 65/66B | €7,054 | €14,256 | +€7,202 | +102% |
| Recurring financial charges | 65 | €7,054 | €14,256 | +€7,202 | +102% |
| Profit (loss) for the period before taxes | 9903 | €32,207 | €9,319 | -€22,888 | -71.1% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €32,207 | €9,319 | -€22,888 | -71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,207 | €9,319 | -€22,888 | -71.1% |
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 26 October 2026 via checked.be.