EUROSTYLE: 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.
EUROSTYLE
Largest movements
- Cash -€136,587
down €136,587 (-42.6%), from €320,276 to €183,689
mainly Net result for the year (-€219,206) and Contributions, distributions and other (-€91,073)
- Current investments -€117,744
down €117,744 (-44.4%), from €265,366 to €147,622
- Tangible fixed assets -€69,353
down €69,353 (-7.0%), from €992,936 to €923,583
of which Land and buildings: -€42,417
- Stocks and contracts -€46,238
down €46,238 (-12.1%), from €381,674 to €335,436
- Receivables within one year +€23,445
up €23,445 (+20.7%), from €113,042 to €136,487
of which Trade receivables: +€25,558
- Reserves -€313,579
down €313,579 (-18.5%), from €1.7m to €1.4m
of which Distributable reserves: -€311,860
- Debts after one year -€30,449
down €30,449 (-37.5%), from €81,180 to €50,731
- Gross operating margin -€140,603
down €140,603 (-21.0%), from €668,123 to €527,520
- Depreciation -€18,371
down €18,371 (-20.8%), from €88,520 to €70,149
- Financial charges -€15,860
down €15,860 (-34.9%), from €45,416 to €29,556
- Staff costs +€13,578
up €13,578 (+2.1%), from €658,405 to €671,983
- Financial income -€10,166
down €10,166 (-19.2%), from €52,938 to €42,772
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 | €2,106,029 | €1,757,275 | -€348,754 | -16.6% |
| Fixed assets | 21/28 | €1,000,008 | €928,738 | -€71,270 | -7.1% |
| Intangible fixed assets | 21 | €3,409 | €1,492 | -€1,917 | -56.2% |
| Tangible fixed assets | 22/27 | €992,936 | €923,583 | -€69,353 | -7.0% |
| Land and buildings | 22 | €938,551 | €896,134 | -€42,417 | -4.5% |
| Plant, machinery and equipment | 23 | - | €2,470 | +€2,470 | |
| Furniture and vehicles | 24 | €54,386 | €24,980 | -€29,406 | -54.1% |
| Financial fixed assets | 28 | €3,663 | €3,663 | = | 0.0% |
| Current assets | 29/58 | €1,106,021 | €828,537 | -€277,484 | -25.1% |
| Stocks and contracts in progress | 3 | €381,674 | €335,436 | -€46,238 | -12.1% |
| Stocks | 30/36 | €381,674 | €335,436 | -€46,238 | -12.1% |
| Amounts receivable within one year | 40/41 | €113,042 | €136,487 | +€23,445 | +20.7% |
| Trade receivables | 40 | €101,119 | €126,676 | +€25,558 | +25.3% |
| Other amounts receivable | 41 | €11,923 | €9,811 | -€2,112 | -17.7% |
| Current investments | 50/53 | €265,366 | €147,622 | -€117,744 | -44.4% |
| Cash at bank and in hand | 54/58 | €320,276 | €183,689 | -€136,587 | -42.6% |
| Deferred charges and accrued income | 490/1 | €25,663 | €25,303 | -€361 | -1.4% |
| Total equity and liabilities | 10/49 | €2,106,029 | €1,757,275 | -€348,754 | -16.6% |
| Equity | 10/15 | €1,763,515 | €1,453,236 | -€310,278 | -17.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,694,515 | €1,380,936 | -€313,579 | -18.5% |
| Tax-exempt reserves | 132 | €58,655 | €56,936 | -€1,719 | -2.9% |
| Distributable reserves | 133 | €1,635,860 | €1,324,000 | -€311,860 | -19.1% |
| Profit (loss) carried forward | 14 | €6,895 | €11,268 | +€4,374 | +63.4% |
| Investment grants | 15 | €43,505 | €42,432 | -€1,073 | -2.5% |
| Provisions and deferred taxes | 16 | €3,719 | €4,018 | +€299 | +8.0% |
| Deferred taxes | 168 | €3,719 | €4,018 | +€299 | +8.0% |
| Amounts payable | 17/49 | €338,795 | €300,021 | -€38,775 | -11.4% |
| Amounts payable after more than one year | 17 | €81,180 | €50,731 | -€30,449 | -37.5% |
| Financial debts | 170/4 | €81,180 | €50,731 | -€30,449 | -37.5% |
| Amounts payable within one year | 42/48 | €257,615 | €249,289 | -€8,325 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €29,273 | €30,449 | +€1,176 | +4.0% |
| Trade debts | 44 | €64,199 | €61,161 | -€3,038 | -4.7% |
| Suppliers | 440/4 | €64,199 | €61,161 | -€3,038 | -4.7% |
| Taxes, remuneration and social security | 45 | €149,967 | €153,003 | +€3,037 | +2.0% |
| Taxes | 450/3 | €73,445 | €62,296 | -€11,150 | -15.2% |
| Remuneration and social security | 454/9 | €76,521 | €90,707 | +€14,186 | +18.5% |
| Other amounts payable | 47/48 | €14,176 | €4,676 | -€9,500 | -67.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €658,405 | €671,983 | +€13,578 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,520 | €70,149 | -€18,371 | -20.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,008 | €14 | -€1,994 | -99.3% |
| Other operating charges | 640/8 | €13,660 | €16,766 | +€3,105 | +22.7% |
| Gross operating margin | 9900 | €668,123 | €527,520 | -€140,603 | -21.0% |
| Operating profit (loss) | 9901 | -€94,470 | -€231,392 | -€136,922 | -145% |
| Financial income | 75/76B | €52,938 | €42,772 | -€10,166 | -19.2% |
| Recurring financial income | 75 | €52,938 | €42,772 | -€10,166 | -19.2% |
| Financial charges | 65/66B | €45,416 | €29,556 | -€15,860 | -34.9% |
| Recurring financial charges | 65 | €45,416 | €29,556 | -€15,860 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | -€86,947 | -€218,175 | -€131,228 | -151% |
| Transfer from deferred taxes | 780 | €674 | €430 | -€244 | -36.2% |
| Transfer to deferred taxes | 680 | - | €729 | +€729 | |
| Income taxes | 67/77 | €563 | €731 | +€168 | +29.9% |
| Profit (loss) for the period | 9904 | -€86,836 | -€219,206 | -€132,369 | -152% |
| Transfer from tax-exempt reserves | 789 | €1,719 | €1,719 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€85,117 | -€217,486 | -€132,369 | -156% |
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 31 October 2026 via checked.be.