LE CÔTÉ VERT: 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.
What changed
LE CÔTÉ VERT
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€18,927
2024 · -€7,705+€26,632
Equity
€1.5m
2024 · €1.5m-€3,828
Cash
€100,662
2024 · €39,279+€61,383
Balance sheet total
€3.8m
2024 · €4.1m-€265,340
Largest movements
Assets
- Tangible fixed assets -€352,702
down €352,702 (-9.7%), from €3.6m to €3.3m
of which Land and buildings: -€230,390
- Cash +€61,383
up €61,383 (+156%), from €39,279 to €100,662
mainly Depreciation (+€433,397) and Trade debts (+€172,721)
- Receivables within one year +€43,805
up €43,805 (+50.1%), from €87,506 to €131,310
of which Trade receivables: +€25,365
Equity and liabilities
- Debts after one year -€446,592
down €446,592 (-24.9%), from €1.8m to €1.3m
- Trade debts +€172,721
up €172,721 (+918%), from €18,809 to €191,531
- Short-term financial debts +€80,000
new in 2025: €80,000
of which Credit institutions: +€50,000
- Current portion of long-term debt -€67,965
down €67,965 (-12.2%), from €556,727 to €488,762
- Reserves +€43,927
up €43,927 (+4.9%), from €900,403 to €944,330
of which Distributable reserves: +€55,710
Income statement
- Gross operating margin +€145,698
up €145,698 (+8.4%), from €1.7m to €1.9m
- Staff costs +€143,068
up €143,068 (+12.8%), from €1.1m to €1.3m
- Depreciation -€41,240
down €41,240 (-8.7%), from €474,636 to €433,397
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.
Result 2024
-€7,705
Gross operating margin
+€145,698
Staff costs
-€143,068
Depreciation
+€41,240
Other operating charges
-€3,368
Financial income
-€4,317
Financial charges
+€5,553
Taxes
-€14,478
Deferred taxes and other
-€626
Result 2025
€18,927
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€564,916
Investment
-€46,221
Financing
-€457,312
Cash 2024
€39,279
From operations (derived)
+€564,916
Net result for the year
+€18,927
Depreciation
+€433,397
Stocks and contracts
-€19,622
Receivables within one year
-€43,805
Deferred charges and accrued income
+€2,974
Provisions
-€3,928
Trade debts
+€172,721
Tax, wage and social debts
+€2,000
Other debts
+€684
Accrued charges and deferred income
+€1,568
Investment (derived)
-€46,221
Investment in fixed assets (net)
-€80,694
Current investments
+€34,474
Financing
-€457,312
Debts after one year
-€446,592
Current portion of long-term debt
-€67,965
Short-term financial debts
+€80,000
Contributions, distributions and other
-€22,755
Cash 2025
€100,662
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,053,828 | €3,788,488 | -€265,340 | -6.5% |
| Fixed assets | 21/28 | €3,624,162 | €3,271,460 | -€352,702 | -9.7% |
| Tangible fixed assets | 22/27 | €3,622,862 | €3,270,160 | -€352,702 | -9.7% |
| Land and buildings | 22 | €2,418,166 | €2,187,776 | -€230,390 | -9.5% |
| Plant, machinery and equipment | 23 | €1,090,320 | €1,001,008 | -€89,311 | -8.2% |
| Furniture and vehicles | 24 | €114,377 | €81,376 | -€33,001 | -28.9% |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €429,666 | €517,028 | +€87,362 | +20.3% |
| Stocks and contracts in progress | 3 | €189,896 | €209,518 | +€19,622 | +10.3% |
| Stocks | 30/36 | €189,896 | €209,518 | +€19,622 | +10.3% |
| Amounts receivable within one year | 40/41 | €87,506 | €131,310 | +€43,805 | +50.1% |
| Trade receivables | 40 | €39,297 | €64,662 | +€25,365 | +64.5% |
| Other amounts receivable | 41 | €48,208 | €66,648 | +€18,440 | +38.3% |
| Current investments | 50/53 | €100,757 | €66,283 | -€34,474 | -34.2% |
| Cash at bank and in hand | 54/58 | €39,279 | €100,662 | +€61,383 | +156% |
| Deferred charges and accrued income | 490/1 | €12,229 | €9,255 | -€2,974 | -24.3% |
| Total equity and liabilities | 10/49 | €4,053,828 | €3,788,488 | -€265,340 | -6.5% |
| Equity | 10/15 | €1,511,023 | €1,507,196 | -€3,828 | -0.3% |
| Contributions | 10/11 | €122,546 | €122,546 | = | 0.0% |
| Capital | 10 | €102,058 | €102,058 | = | 0.0% |
| Issued capital | 100 | €102,058 | €102,058 | = | 0.0% |
| Contributions outside capital | 11 | €20,488 | €20,488 | = | 0.0% |
| Share premium | 1100/10 | €20,488 | €20,488 | = | 0.0% |
| Revaluation surpluses | 12 | €172,917 | €147,917 | -€25,000 | -14.5% |
| Reserves | 13 | €900,403 | €944,330 | +€43,927 | +4.9% |
| Non-distributable reserves | 130/1 | €10,206 | €10,206 | = | 0.0% |
| Legal reserve | 130 | €10,206 | €10,206 | = | 0.0% |
| Tax-exempt reserves | 132 | €432,003 | €420,220 | -€11,783 | -2.7% |
| Distributable reserves | 133 | €458,194 | €513,904 | +€55,710 | +12.2% |
| Profit (loss) carried forward | 14 | €149,560 | €149,560 | = | 0.0% |
| Investment grants | 15 | €165,597 | €142,842 | -€22,755 | -13.7% |
| Provisions and deferred taxes | 16 | €34,834 | €30,907 | -€3,928 | -11.3% |
| Deferred taxes | 168 | €34,834 | €30,907 | -€3,928 | -11.3% |
| Amounts payable | 17/49 | €2,507,971 | €2,250,386 | -€257,585 | -10.3% |
| Amounts payable after more than one year | 17 | €1,794,334 | €1,347,742 | -€446,592 | -24.9% |
| Financial debts | 170/4 | €1,794,334 | €1,347,742 | -€446,592 | -24.9% |
| Amounts payable within one year | 42/48 | €706,832 | €894,272 | +€187,440 | +26.5% |
| Current portion of amounts payable after more than one year | 42 | €556,727 | €488,762 | -€67,965 | -12.2% |
| Financial debts | 43 | - | €80,000 | +€80,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Other loans | 439 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €18,809 | €191,531 | +€172,721 | +918% |
| Suppliers | 440/4 | €18,809 | €191,531 | +€172,721 | +918% |
| Taxes, remuneration and social security | 45 | €131,090 | €133,090 | +€2,000 | +1.5% |
| Taxes | 450/3 | €21,736 | €16,439 | -€5,297 | -24.4% |
| Remuneration and social security | 454/9 | €109,354 | €116,650 | +€7,297 | +6.7% |
| Other amounts payable | 47/48 | €206 | €890 | +€684 | +332% |
| Accrued charges and deferred income | 492/3 | €6,805 | €8,373 | +€1,568 | +23.0% |
| Non-recurring operating income | 76A | €413 | €0 | -€413 | -100% |
| Remuneration, social security and pensions | 62 | €1,121,930 | €1,264,998 | +€143,068 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €474,636 | €433,397 | -€41,240 | -8.7% |
| Other operating charges | 640/8 | €58,700 | €62,068 | +€3,368 | +5.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,733,062 | €1,878,760 | +€145,698 | +8.4% |
| Operating profit (loss) | 9901 | €77,796 | €118,297 | +€40,501 | +52.1% |
| Financial income | 75/76B | €28,128 | €23,811 | -€4,317 | -15.3% |
| Recurring financial income | 75 | €28,128 | €23,811 | -€4,317 | -15.3% |
| Financial charges | 65/66B | €117,768 | €112,215 | -€5,553 | -4.7% |
| Recurring financial charges | 65 | €117,768 | €112,215 | -€5,553 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | -€11,844 | €29,892 | +€41,737 | |
| Transfer from deferred taxes | 780 | €4,554 | €3,928 | -€626 | -13.7% |
| Income taxes | 67/77 | €415 | €14,893 | +€14,478 | +3,492% |
| Profit (loss) for the period | 9904 | -€7,705 | €18,927 | +€26,632 | |
| Transfer from tax-exempt reserves | 789 | €13,661 | €11,783 | -€1,878 | -13.7% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €5,956 | €30,710 | +€24,755 | +416% |
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 23 October 2026 via checked.be.