Eurostar Group: what changed
What changed
Eurostar Group
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€109.6m
2024 · €214.6m-€105.0m
Equity
€1.78bn
2024 · €1.72bn+€59.6m
Cash
€2.2m
2024 · €6.4m-€4.2m
Balance sheet total
€2.47bn
2024 · €2.38bn+€89.8m
Largest movements
Assets
- Receivables within one year +€129.1m
new in 2025: €129.1m
- Financial fixed assets -€128.9m
down €128.9m (-5.4%), from €2.37bn to €2.24bn
- Tangible fixed assets +€85.8m
up €85.8m (+12,456%), from €688,869 to €86.5m
Equity and liabilities
- Debts after one year -€130.0m
down €130.0m (-20.0%), from €650.0m to €520.0m
- Current portion of long-term debt +€128.6m
up €128.6m (+9,186%), from €1.4m to €130.0m
- Profit (loss) carried forward +€54.1m
up €54.1m (+26.6%), from €203.3m to €257.4m
- Other debts +€28.0m
new in 2025: €28.0m
Income statement
- Financial income -€106.1m
down €106.1m (-43.9%), from €241.7m to €135.6m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€214.6m
Other operating charges
-€518
Other operating items
-€186,116
Financial income
-€106.1m
Financial charges
+€1.7m
Taxes
-€392,114
Result 2025
€109.6m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€4.1m
Investment
+€43.1m
Financing
-€51.4m
Cash 2024
€6.4m
From operations (derived)
+€4.1m
Net result for the year
+€109.6m
Receivables after one year
-€8.5m
Receivables within one year
-€129.1m
Deferred charges and accrued income
+€569,992
Trade debts
+€3.9m
Tax, wage and social debts
+€337,717
Other debts
+€28.0m
Accrued charges and deferred income
-€551,302
Investment (derived)
+€43.1m
Investment in fixed assets (net)
+€43.1m
Financing
-€51.4m
Debts after one year
-€130.0m
Current portion of long-term debt
+€128.6m
Contributions, distributions and other
-€50.0m
Cash 2025
€2.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,379,144,775 | €2,468,981,211 | +€89.8m | +3.8% |
| Fixed assets | 21/28 | €2,366,731,219 | €2,323,640,945 | -€43.1m | -1.8% |
| Tangible fixed assets | 22/27 | €688,869 | €86,492,422 | +€85.8m | +12,456% |
| Assets under construction and advance payments | 27 | €688,869 | €86,492,422 | +€85.8m | +12,456% |
| Financial fixed assets | 28 | €2,366,042,349 | €2,237,148,523 | -€128.9m | -5.4% |
| Affiliated companies | 280/1 | €2,366,042,349 | €2,237,148,523 | -€128.9m | -5.4% |
| Participating interests | 280 | €1,721,573,217 | €1,721,573,217 | = | 0.0% |
| Amounts receivable | 281 | €644,469,132 | €515,575,306 | -€128.9m | -20.0% |
| Current assets | 29/58 | €12,413,557 | €145,340,266 | +€132.9m | +1,071% |
| Amounts receivable after more than one year | 29 | - | €8,525,000 | +€8.5m | |
| Other amounts receivable | 291 | - | €8,525,000 | +€8.5m | |
| Amounts receivable within one year | 40/41 | - | €129,148,029 | +€129.1m | |
| Other amounts receivable | 41 | - | €129,148,029 | +€129.1m | |
| Cash at bank and in hand | 54/58 | €6,422,005 | €2,245,678 | -€4.2m | -65.0% |
| Deferred charges and accrued income | 490/1 | €5,991,551 | €5,421,559 | -€569,992 | -9.5% |
| Total equity and liabilities | 10/49 | €2,379,144,775 | €2,468,981,211 | +€89.8m | +3.8% |
| Equity | 10/15 | €1,721,572,814 | €1,781,176,680 | +€59.6m | +3.5% |
| Contributions | 10/11 | €1,507,600,000 | €1,507,600,000 | = | 0.0% |
| Capital | 10 | €1,507,600,000 | €1,507,600,000 | = | 0.0% |
| Issued capital | 100 | €1,507,600,000 | €1,507,600,000 | = | 0.0% |
| Reserves | 13 | €10,698,641 | €16,178,834 | +€5.5m | +51.2% |
| Non-distributable reserves | 130/1 | €10,698,641 | €16,178,834 | +€5.5m | +51.2% |
| Legal reserve | 130 | €10,698,641 | €16,178,834 | +€5.5m | +51.2% |
| Profit (loss) carried forward | 14 | €203,274,173 | €257,397,846 | +€54.1m | +26.6% |
| Amounts payable | 17/49 | €657,571,961 | €687,804,531 | +€30.2m | +4.6% |
| Amounts payable after more than one year | 17 | €650,000,000 | €520,000,000 | -€130.0m | -20.0% |
| Financial debts | 170/4 | €650,000,000 | €520,000,000 | -€130.0m | -20.0% |
| Credit institutions | 173 | €650,000,000 | €520,000,000 | -€130.0m | -20.0% |
| Amounts payable within one year | 42/48 | €2,312,710 | €163,096,581 | +€160.8m | +6,952% |
| Current portion of amounts payable after more than one year | 42 | €1,400,000 | €130,000,000 | +€128.6m | +9,186% |
| Trade debts | 44 | €912,710 | €4,765,615 | +€3.9m | +422% |
| Suppliers | 440/4 | €912,710 | €4,765,615 | +€3.9m | +422% |
| Taxes, remuneration and social security | 45 | - | €337,717 | +€337,717 | |
| Taxes | 450/3 | - | €337,717 | +€337,717 | |
| Other amounts payable | 47/48 | - | €27,993,249 | +€28.0m | |
| Accrued charges and deferred income | 492/3 | €5,259,252 | €4,707,950 | -€551,302 | -10.5% |
| Operating charges | 60/66A | €194,082 | €380,716 | +€186,634 | +96.2% |
| Services and other goods | 61 | €193,633 | €379,748 | +€186,116 | +96.1% |
| Other operating charges | 640/8 | €449 | €968 | +€518 | +115% |
| Operating profit (loss) | 9901 | -€194,082 | -€380,716 | -€186,634 | -96.2% |
| Financial income | 75/76B | €241,660,762 | €135,559,838 | -€106.1m | -43.9% |
| Recurring financial income | 75 | €241,660,762 | €135,559,838 | -€106.1m | -43.9% |
| Income from financial fixed assets | 750 | €238,032,233 | €135,559,838 | -€102.5m | -43.0% |
| Income from current assets | 751 | €1,875,353 | - | -€1.9m | |
| Other financial income | 752/9 | €1,753,177 | - | -€1.8m | |
| Financial charges | 65/66B | €26,867,031 | €25,183,143 | -€1.7m | -6.3% |
| Recurring financial charges | 65 | €26,867,031 | €25,183,143 | -€1.7m | -6.3% |
| Debt charges | 650 | €21,467,963 | €24,805,610 | +€3.3m | +15.5% |
| Other financial charges | 652/9 | €5,399,068 | €377,533 | -€5.0m | -93.0% |
| Profit (loss) for the period before taxes | 9903 | €214,599,650 | €109,995,980 | -€104.6m | -48.7% |
| Income taxes | 67/77 | - | €392,114 | +€392,114 | |
| Taxes | 670/3 | - | €392,114 | +€392,114 | |
| Profit (loss) for the period | 9904 | €214,599,650 | €109,603,866 | -€105.0m | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €214,599,650 | €109,603,866 | -€105.0m | -48.9% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.