EVA: 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.
EVA
Largest movements
- Tangible fixed assets -€33,994
down €33,994 (-39.4%), from €86,289 to €52,295
of which Land and buildings: -€29,305
- Receivables within one year -€9,681
no longer reported in 2025 (was €9,681)
- Cash -€4,878
down €4,878 (-52.0%), from €9,381 to €4,503
mainly Debts after one year (-€25,153) and Net result for the year (-€23,497)
- Debts after one year -€25,153
down €25,153 (-62.6%), from €40,181 to €15,028
- Reserves -€23,497
down €23,497 (-74.4%), from €31,595 to €8,098
of which Distributable reserves: -€23,497
- Other debts -€1,303
down €1,303 (-96.4%), from €1,352 to €49
- Gross operating margin -€15,681
down €15,681 (-49.0%), from €32,006 to €16,325
- Taxes -€4,000
no longer reported in 2025 (was €4,000)
- Financial charges -€847
down €847 (-32.1%), from €2,636 to €1,789
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 | €105,377 | €56,799 | -€48,578 | -46.1% |
| Fixed assets | 21/28 | €86,314 | €52,296 | -€34,019 | -39.4% |
| Tangible fixed assets | 22/27 | €86,289 | €52,295 | -€33,994 | -39.4% |
| Land and buildings | 22 | €68,459 | €39,154 | -€29,305 | -42.8% |
| Plant, machinery and equipment | 23 | €10,937 | €8,008 | -€2,929 | -26.8% |
| Furniture and vehicles | 24 | €6,893 | €5,133 | -€1,760 | -25.5% |
| Financial fixed assets | 28 | €25 | €1 | -€24 | -96.8% |
| Current assets | 29/58 | €19,062 | €4,503 | -€14,559 | -76.4% |
| Amounts receivable within one year | 40/41 | €9,681 | - | -€9,681 | |
| Trade receivables | 40 | €9,681 | - | -€9,681 | |
| Cash at bank and in hand | 54/58 | €9,381 | €4,503 | -€4,878 | -52.0% |
| Total equity and liabilities | 10/49 | €105,377 | €56,799 | -€48,578 | -46.1% |
| Equity | 10/15 | €37,795 | €14,298 | -€23,497 | -62.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €31,595 | €8,098 | -€23,497 | -74.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €29,735 | €6,238 | -€23,497 | -79.0% |
| Amounts payable | 17/49 | €67,582 | €42,501 | -€25,081 | -37.1% |
| Amounts payable after more than one year | 17 | €40,181 | €15,028 | -€25,153 | -62.6% |
| Financial debts | 170/4 | €40,181 | €15,028 | -€25,153 | -62.6% |
| Amounts payable within one year | 42/48 | €27,401 | €27,473 | +€72 | +0.3% |
| Current portion of amounts payable after more than one year | 42 | €24,405 | €25,153 | +€749 | +3.1% |
| Trade debts | 44 | €384 | €842 | +€458 | +119% |
| Suppliers | 440/4 | €384 | €842 | +€458 | +119% |
| Taxes, remuneration and social security | 45 | €1,261 | €1,429 | +€168 | +13.4% |
| Taxes | 450/3 | €1,261 | €1,429 | +€168 | +13.4% |
| Other amounts payable | 47/48 | €1,352 | €49 | -€1,303 | -96.4% |
| Non-recurring operating income | 76A | €3,359 | €12 | -€3,347 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,730 | €33,994 | +€264 | +0.8% |
| Other operating charges | 640/8 | €53 | €63 | +€10 | +19.7% |
| Non-recurring operating charges | 66A | - | €3,976 | +€3,976 | |
| Gross operating margin | 9900 | €32,006 | €16,325 | -€15,681 | -49.0% |
| Operating profit (loss) | 9901 | -€1,777 | -€21,708 | -€19,931 | -1,121% |
| Financial charges | 65/66B | €2,636 | €1,789 | -€847 | -32.1% |
| Recurring financial charges | 65 | €2,636 | €1,789 | -€847 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,413 | -€23,497 | -€19,083 | -432% |
| Income taxes | 67/77 | €4,000 | - | -€4,000 | |
| Profit (loss) for the period | 9904 | -€8,413 | -€23,497 | -€15,083 | -179% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,413 | -€23,497 | -€15,083 | -179% |
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 14 October 2026 via checked.be.