EVARES: 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.
EVARES
Largest movements
- Tangible fixed assets +€326,886
up €326,886 (+322.1%), from €101,500 to €428,385
of which Land and buildings: +€361,002
- Receivables within one year +€14,424
up €14,424 (+18.9%), from €76,393 to €90,817
of which Trade receivables: +€11,975
- Debts after one year +€264,379
up €264,379 (+505.1%), from €52,344 to €316,723
- Reserves +€40,003
up €40,003 (+32.7%), from €122,362 to €162,365
- Current portion of long-term debt +€25,722
up €25,722 (+276.2%), from €9,313 to €35,035
- Trade debts +€10,904
up €10,904 (+137.5%), from €7,928 to €18,832
- Gross operating margin +€44,255
up €44,255 (+10.4%), from €426,901 to €471,156
- Staff costs -€12,829
down €12,829 (-3.8%), from €335,732 to €322,904
- Taxes +€11,335
up €11,335 (+73.5%), from €15,413 to €26,748
- Financial income +€9,359
up €9,359 (+21648.5%), from €43 to €9,402
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 | €267,164 | €601,132 | +€333,968 | +125.0% |
| Fixed assets | 21/28 | €101,500 | €428,385 | +€326,886 | +322.1% |
| Tangible fixed assets | 22/27 | €101,500 | €428,385 | +€326,886 | +322.1% |
| Land and buildings | 22 | - | €361,002 | +€361,002 | |
| Plant, machinery and equipment | 23 | €1,869 | €2,856 | +€987 | +52.8% |
| Furniture and vehicles | 24 | €86,773 | €56,182 | -€30,590 | -35.3% |
| Other tangible fixed assets | 26 | €12,858 | €8,345 | -€4,512 | -35.1% |
| Current assets | 29/58 | €165,665 | €172,747 | +€7,083 | +4.3% |
| Amounts receivable within one year | 40/41 | €76,393 | €90,817 | +€14,424 | +18.9% |
| Trade receivables | 40 | €40,992 | €52,967 | +€11,975 | +29.2% |
| Other amounts receivable | 41 | €35,401 | €37,850 | +€2,449 | +6.9% |
| Cash at bank and in hand | 54/58 | €82,316 | €77,170 | -€5,146 | -6.3% |
| Deferred charges and accrued income | 490/1 | €6,956 | €4,760 | -€2,196 | -31.6% |
| Total equity and liabilities | 10/49 | €267,164 | €601,132 | +€333,968 | +125.0% |
| Equity | 10/15 | €141,659 | €181,662 | +€40,003 | +28.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €122,362 | €162,365 | +€40,003 | +32.7% |
| Distributable reserves | 133 | €122,362 | €162,365 | +€40,003 | +32.7% |
| Profit (loss) carried forward | 14 | €697 | €697 | = | 0.0% |
| Amounts payable | 17/49 | €125,506 | €419,470 | +€293,965 | +234.2% |
| Amounts payable after more than one year | 17 | €52,344 | €316,723 | +€264,379 | +505.1% |
| Financial debts | 170/4 | €52,344 | €316,723 | +€264,379 | +505.1% |
| Amounts payable within one year | 42/48 | €72,201 | €101,787 | +€29,586 | +41.0% |
| Current portion of amounts payable after more than one year | 42 | €9,313 | €35,035 | +€25,722 | +276.2% |
| Trade debts | 44 | €7,928 | €18,832 | +€10,904 | +137.5% |
| Suppliers | 440/4 | €7,928 | €18,832 | +€10,904 | +137.5% |
| Taxes, remuneration and social security | 45 | €51,413 | €46,060 | -€5,353 | -10.4% |
| Taxes | 450/3 | €6,896 | €9,704 | +€2,808 | +40.7% |
| Remuneration and social security | 454/9 | €44,518 | €36,357 | -€8,161 | -18.3% |
| Other amounts payable | 47/48 | €3,547 | €1,860 | -€1,686 | -47.5% |
| Accrued charges and deferred income | 492/3 | €960 | €960 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €335,732 | €322,904 | -€12,829 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,558 | €45,544 | -€4,014 | -8.1% |
| Other operating charges | 640/8 | €1,886 | €2,685 | +€799 | +42.3% |
| Gross operating margin | 9900 | €426,901 | €471,156 | +€44,255 | +10.4% |
| Operating profit (loss) | 9901 | €39,725 | €100,024 | +€60,299 | +151.8% |
| Financial income | 75/76B | €43 | €9,402 | +€9,359 | +21648.5% |
| Recurring financial income | 75 | €43 | €9,402 | +€9,359 | +21648.5% |
| Financial charges | 65/66B | €3,024 | €6,971 | +€3,947 | +130.6% |
| Recurring financial charges | 65 | €3,024 | €6,971 | +€3,947 | +130.6% |
| Profit (loss) for the period before taxes | 9903 | €36,744 | €102,455 | +€65,711 | +178.8% |
| Income taxes | 67/77 | €15,413 | €26,748 | +€11,335 | +73.5% |
| Profit (loss) for the period | 9904 | €21,331 | €75,707 | +€54,376 | +254.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,331 | €75,707 | +€54,376 | +254.9% |
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 10 October 2026 via checked.be.