Filet d'Or: 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.
Filet d'Or
Largest movements
- Tangible fixed assets +€935,614
up €935,614 (+873%), from €107,223 to €1.0m
of which Land and buildings: +€649,958
- Receivables within one year -€68,192
down €68,192 (-54.8%), from €124,528 to €56,336
of which Other amounts receivable: -€79,463
- Stocks and contracts +€13,328
up €13,328 (+117%), from €11,393 to €24,721
- Debts after one year +€869,068
up €869,068 (+2,667%), from €32,584 to €901,652
- Current portion of long-term debt +€32,873
up €32,873 (+392%), from €8,375 to €41,248
- Profit (loss) carried forward -€18,708
new in 2025: -€18,708
- Depreciation +€81,134
up €81,134 (+233%), from €34,887 to €116,021
- Taxes -€19,678
down €19,678 (-98.8%), from €19,926 to €247
- Financial charges +€18,429
up €18,429 (+887%), from €2,079 to €20,508
- Gross operating margin +€8,609
up €8,609 (+7.6%), from €112,738 to €121,347
- Other operating charges +€1,406
up €1,406 (+71.8%), from €1,958 to €3,363
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 | €328,505 | €1,211,855 | +€883,351 | +269% |
| Fixed assets | 21/28 | €107,223 | €1,042,837 | +€935,614 | +873% |
| Tangible fixed assets | 22/27 | €107,223 | €1,042,837 | +€935,614 | +873% |
| Land and buildings | 22 | €10,632 | €660,590 | +€649,958 | +6,113% |
| Plant, machinery and equipment | 23 | €53,903 | €45,272 | -€8,631 | -16.0% |
| Furniture and vehicles | 24 | €32,621 | €21,059 | -€11,563 | -35.4% |
| Other tangible fixed assets | 26 | €10,067 | €7,373 | -€2,695 | -26.8% |
| Assets under construction and advance payments | 27 | - | €308,544 | +€308,544 | |
| Current assets | 29/58 | €221,281 | €169,018 | -€52,263 | -23.6% |
| Stocks and contracts in progress | 3 | €11,393 | €24,721 | +€13,328 | +117% |
| Stocks | 30/36 | €11,393 | €24,721 | +€13,328 | +117% |
| Amounts receivable within one year | 40/41 | €124,528 | €56,336 | -€68,192 | -54.8% |
| Trade receivables | 40 | €27,344 | €38,616 | +€11,271 | +41.2% |
| Other amounts receivable | 41 | €97,183 | €17,720 | -€79,463 | -81.8% |
| Current investments | 50/53 | - | €150 | +€150 | |
| Cash at bank and in hand | 54/58 | €82,049 | €84,168 | +€2,119 | +2.6% |
| Deferred charges and accrued income | 490/1 | €3,312 | €3,644 | +€332 | +10.0% |
| Total equity and liabilities | 10/49 | €328,505 | €1,211,855 | +€883,351 | +269% |
| Equity | 10/15 | €183,833 | €165,124 | -€18,708 | -10.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €178,833 | €178,833 | = | 0.0% |
| Distributable reserves | 133 | €178,833 | €178,833 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€18,708 | -€18,708 | |
| Amounts payable | 17/49 | €144,672 | €1,046,731 | +€902,059 | +624% |
| Amounts payable after more than one year | 17 | €32,584 | €901,652 | +€869,068 | +2,667% |
| Financial debts | 170/4 | €32,584 | €901,652 | +€869,068 | +2,667% |
| Amounts payable within one year | 42/48 | €110,548 | €145,079 | +€34,532 | +31.2% |
| Current portion of amounts payable after more than one year | 42 | €8,375 | €41,248 | +€32,873 | +392% |
| Trade debts | 44 | €70,135 | €74,329 | +€4,194 | +6.0% |
| Suppliers | 440/4 | €70,135 | €74,329 | +€4,194 | +6.0% |
| Taxes, remuneration and social security | 45 | €5,952 | €0 | -€5,952 | -100% |
| Taxes | 450/3 | €5,952 | €0 | -€5,952 | -100% |
| Other amounts payable | 47/48 | €26,086 | €29,502 | +€3,416 | +13.1% |
| Accrued charges and deferred income | 492/3 | €1,540 | €0 | -€1,540 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,887 | €116,021 | +€81,134 | +233% |
| Other operating charges | 640/8 | €1,958 | €3,363 | +€1,406 | +71.8% |
| Gross operating margin | 9900 | €112,738 | €121,347 | +€8,609 | +7.6% |
| Operating profit (loss) | 9901 | €75,894 | €1,963 | -€73,931 | -97.4% |
| Financial income | 75/76B | €10 | €84 | +€74 | +769% |
| Recurring financial income | 75 | €10 | €84 | +€74 | +769% |
| Financial charges | 65/66B | €2,079 | €20,508 | +€18,429 | +887% |
| Recurring financial charges | 65 | €2,079 | €20,508 | +€18,429 | +887% |
| Profit (loss) for the period before taxes | 9903 | €73,825 | -€18,461 | -€92,286 | |
| Income taxes | 67/77 | €19,926 | €247 | -€19,678 | -98.8% |
| Profit (loss) for the period | 9904 | €53,899 | -€18,708 | -€72,608 | |
| Profit (loss) for the period to be appropriated | 9905 | €53,899 | -€18,708 | -€72,608 |
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 24 October 2026 via checked.be.