EVA: what changed
Two fiscal 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.
EVA
Largest movements
- Tangible fixed assets -€305,541
down €305,541 (-26.7%), from €1.1m to €838,982
of which Land and buildings: -€303,083
- Cash -€47,182
down €47,182 (-54.9%), from €85,866 to €38,684
mainly Debts after one year (-€204,790) and Other debts (-€179,165)
- Receivables after one year -€20,500
down €20,500 (-100.0%), from €20,500 to €0
- Debts after one year -€204,790
down €204,790 (-61.6%), from €332,339 to €127,550
- Other debts -€179,165
down €179,165 (-38.5%), from €465,608 to €286,443
- Reserves +€20,955
up €20,955 (+6.1%), from €344,180 to €365,135
- Gross operating margin +€30,321
up €30,321 (+185.6%), from €16,340 to €46,661
- Other operating charges -€11,807
down €11,807 (-72.9%), from €16,202 to €4,395
- Depreciation +€1,713
up €1,713 (+41.3%), from €4,151 to €5,864
- Financial charges -€1,374
down €1,374 (-8.2%), from €16,821 to €15,448
- Financial income -€692
down €692 (-100.0%), from €692 to €0
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 | €1,260,013 | €886,820 | -€373,194 | -29.6% |
| Fixed assets | 21/28 | €1,153,524 | €847,982 | -€305,541 | -26.5% |
| Tangible fixed assets | 22/27 | €1,144,524 | €838,982 | -€305,541 | -26.7% |
| Land and buildings | 22 | €1,122,844 | €819,761 | -€303,083 | -27.0% |
| Plant, machinery and equipment | 23 | €17,172 | €13,882 | -€3,290 | -19.2% |
| Furniture and vehicles | 24 | - | €832 | +€832 | |
| Other tangible fixed assets | 26 | €4,507 | €4,507 | = | 0.0% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €106,490 | €38,838 | -€67,652 | -63.5% |
| Amounts receivable after more than one year | 29 | €20,500 | €0 | -€20,500 | -100.0% |
| Other amounts receivable | 291 | €20,500 | €0 | -€20,500 | -100.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €85,866 | €38,684 | -€47,182 | -54.9% |
| Deferred charges and accrued income | 490/1 | €124 | €153 | +€30 | +23.9% |
| Total equity and liabilities | 10/49 | €1,260,013 | €886,820 | -€373,194 | -29.6% |
| Equity | 10/15 | €408,180 | €429,135 | +€20,955 | +5.1% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Reserves | 13 | €344,180 | €365,135 | +€20,955 | +6.1% |
| Distributable reserves | 133 | €344,180 | €365,135 | +€20,955 | +6.1% |
| Amounts payable | 17/49 | €851,833 | €457,685 | -€394,149 | -46.3% |
| Amounts payable after more than one year | 17 | €332,339 | €127,550 | -€204,790 | -61.6% |
| Financial debts | 170/4 | €332,339 | €127,550 | -€204,790 | -61.6% |
| Amounts payable within one year | 42/48 | €519,494 | €330,135 | -€189,359 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €53,886 | €43,692 | -€10,194 | -18.9% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €465,608 | €286,443 | -€179,165 | -38.5% |
| Non-recurring operating income | 76A | - | €44,124 | +€44,124 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,151 | €5,864 | +€1,713 | +41.3% |
| Other operating charges | 640/8 | €16,202 | €4,395 | -€11,807 | -72.9% |
| Gross operating margin | 9900 | €16,340 | €46,661 | +€30,321 | +185.6% |
| Operating profit (loss) | 9901 | -€4,013 | €36,403 | +€40,415 | |
| Financial income | 75/76B | €692 | €0 | -€692 | -100.0% |
| Recurring financial income | 75 | €692 | €0 | -€692 | -100.0% |
| Financial charges | 65/66B | €16,821 | €15,448 | -€1,374 | -8.2% |
| Recurring financial charges | 65 | €16,821 | €15,448 | -€1,374 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | -€20,142 | €20,955 | +€41,097 | |
| Profit (loss) for the period | 9904 | -€20,142 | €20,955 | +€41,097 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,142 | €20,955 | +€41,097 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.