EVEREST-M: 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.
EVEREST-M
Largest movements
- Tangible fixed assets +€685,874
up €685,874 (+663%), from €103,437 to €789,311
of which Land and buildings: +€687,764
- Receivables within one year +€98,339
up €98,339 (+223%), from €44,186 to €142,525
of which Other amounts receivable: +€115,103
- Cash -€76,673
down €76,673 (-74.9%), from €102,312 to €25,639
mainly Investment in fixed assets (net) (-€727,366) and Receivables within one year (-€98,339)
- Debts after one year +€646,551
new in 2025: €646,551
- Other debts +€82,708
up €82,708 (+194%), from €42,620 to €125,328
- Trade debts -€52,429
down €52,429 (-55.2%), from €94,928 to €42,499
- Current portion of long-term debt +€24,001
up €24,001 (+57.1%), from €42,000 to €66,001
- Profit (loss) carried forward +€15,983
up €15,983 (+38.4%), from €41,663 to €57,646
- Gross operating margin +€76,055
up €76,055 (+81.2%), from €93,633 to €169,688
- Depreciation +€30,243
up €30,243 (+393%), from €7,693 to €37,936
- Taxes +€25,909
up €25,909 (+277%), from €9,353 to €35,262
- Financial charges +€13,298
up €13,298 (+1,511%), from €880 to €14,178
- Other operating charges -€1,769
down €1,769 (-21.8%), from €8,098 to €6,329
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 | €252,252 | €961,129 | +€708,877 | +281% |
| Fixed assets | 21/28 | €103,535 | €792,965 | +€689,430 | +666% |
| Tangible fixed assets | 22/27 | €103,437 | €789,311 | +€685,874 | +663% |
| Land and buildings | 22 | €95,378 | €783,142 | +€687,764 | +721% |
| Plant, machinery and equipment | 23 | €911 | €622 | -€289 | -31.7% |
| Furniture and vehicles | 24 | €7,148 | €5,547 | -€1,601 | -22.4% |
| Financial fixed assets | 28 | €98 | €3,654 | +€3,556 | +3,629% |
| Current assets | 29/58 | €148,717 | €168,164 | +€19,447 | +13.1% |
| Amounts receivable within one year | 40/41 | €44,186 | €142,525 | +€98,339 | +223% |
| Trade receivables | 40 | €17,231 | €467 | -€16,764 | -97.3% |
| Other amounts receivable | 41 | €26,955 | €142,058 | +€115,103 | +427% |
| Cash at bank and in hand | 54/58 | €102,312 | €25,639 | -€76,673 | -74.9% |
| Deferred charges and accrued income | 490/1 | €2,219 | - | -€2,219 | |
| Total equity and liabilities | 10/49 | €252,252 | €961,129 | +€708,877 | +281% |
| Equity | 10/15 | €54,063 | €70,046 | +€15,983 | +29.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,663 | €57,646 | +€15,983 | +38.4% |
| Amounts payable | 17/49 | €198,189 | €891,083 | +€692,894 | +350% |
| Amounts payable after more than one year | 17 | - | €646,551 | +€646,551 | |
| Financial debts | 170/4 | - | €646,551 | +€646,551 | |
| Amounts payable within one year | 42/48 | €198,189 | €244,532 | +€46,343 | +23.4% |
| Current portion of amounts payable after more than one year | 42 | €42,000 | €66,001 | +€24,001 | +57.1% |
| Trade debts | 44 | €94,928 | €42,499 | -€52,429 | -55.2% |
| Suppliers | 440/4 | €94,928 | €42,499 | -€52,429 | -55.2% |
| Taxes, remuneration and social security | 45 | €18,641 | €10,704 | -€7,937 | -42.6% |
| Taxes | 450/3 | €18,641 | €10,704 | -€7,937 | -42.6% |
| Other amounts payable | 47/48 | €42,620 | €125,328 | +€82,708 | +194% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,693 | €37,936 | +€30,243 | +393% |
| Other operating charges | 640/8 | €8,098 | €6,329 | -€1,769 | -21.8% |
| Gross operating margin | 9900 | €93,633 | €169,688 | +€76,055 | +81.2% |
| Operating profit (loss) | 9901 | €77,842 | €125,423 | +€47,581 | +61.1% |
| Financial income | 75/76B | €173 | €0 | -€173 | -100% |
| Recurring financial income | 75 | €173 | €0 | -€173 | -100% |
| Financial charges | 65/66B | €880 | €14,178 | +€13,298 | +1,511% |
| Recurring financial charges | 65 | €880 | €14,178 | +€13,298 | +1,511% |
| Profit (loss) for the period before taxes | 9903 | €77,135 | €111,245 | +€34,110 | +44.2% |
| Income taxes | 67/77 | €9,353 | €35,262 | +€25,909 | +277% |
| Profit (loss) for the period | 9904 | €67,782 | €75,983 | +€8,201 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €67,782 | €75,983 | +€8,201 | +12.1% |
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 26 October 2026 via checked.be.