No Rules Great Scotch: 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.
No Rules Great Scotch
Largest movements
- Tangible fixed assets +€35,258
up €35,258 (+8.5%), from €413,754 to €449,012
of which Plant, machinery and equipment: +€45,284
- Cash -€6,970
down €6,970 (-85.0%), from €8,195 to €1,225
mainly Investment in fixed assets (net) (-€47,619) and Net result for the year (-€13,480)
- Debts after one year +€36,832
up €36,832 (+10.7%), from €344,540 to €381,372
- Profit (loss) carried forward -€13,480
down €13,480 (-91.0%), from -€14,814 to -€28,294
- Other debts +€6,000
up €6,000 (+7.6%), from €79,000 to €85,000
- Depreciation +€4,835
up €4,835 (+61.8%), from €7,826 to €12,661
- Gross operating margin +€4,513
up €4,513 (+33.5%), from €13,455 to €17,969
- Financial charges -€1,978
down €1,978 (-10.7%), from €18,524 to €16,546
- Other operating charges +€362
up €362 (+21.4%), from €1,693 to €2,055
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 | €426,380 | €457,637 | +€31,257 | +7.3% |
| Fixed assets | 21/28 | €414,869 | €449,827 | +€34,958 | +8.4% |
| Intangible fixed assets | 21 | €1,115 | €815 | -€300 | -26.9% |
| Tangible fixed assets | 22/27 | €413,754 | €449,012 | +€35,258 | +8.5% |
| Land and buildings | 22 | €338,741 | €328,716 | -€10,026 | -3.0% |
| Plant, machinery and equipment | 23 | €75,013 | €120,297 | +€45,284 | +60.4% |
| Current assets | 29/58 | €11,511 | €7,809 | -€3,701 | -32.2% |
| Cash at bank and in hand | 54/58 | €8,195 | €1,225 | -€6,970 | -85.0% |
| Deferred charges and accrued income | 490/1 | €3,315 | €6,584 | +€3,269 | +98.6% |
| Total equity and liabilities | 10/49 | €426,380 | €457,637 | +€31,257 | +7.3% |
| Equity | 10/15 | -€9,814 | -€23,294 | -€13,480 | -137% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,814 | -€28,294 | -€13,480 | -91.0% |
| Amounts payable | 17/49 | €436,194 | €480,931 | +€44,737 | +10.3% |
| Amounts payable after more than one year | 17 | €344,540 | €381,372 | +€36,832 | +10.7% |
| Financial debts | 170/4 | €344,540 | €381,372 | +€36,832 | +10.7% |
| Amounts payable within one year | 42/48 | €91,654 | €99,559 | +€7,905 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €11,889 | €14,559 | +€2,670 | +22.5% |
| Trade debts | 44 | €765 | - | -€765 | |
| Suppliers | 440/4 | €765 | - | -€765 | |
| Other amounts payable | 47/48 | €79,000 | €85,000 | +€6,000 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,826 | €12,661 | +€4,835 | +61.8% |
| Other operating charges | 640/8 | €1,693 | €2,055 | +€362 | +21.4% |
| Non-recurring operating charges | 66A | €226 | €187 | -€39 | -17.2% |
| Gross operating margin | 9900 | €13,455 | €17,969 | +€4,513 | +33.5% |
| Operating profit (loss) | 9901 | €3,710 | €3,066 | -€644 | -17.4% |
| Financial charges | 65/66B | €18,524 | €16,546 | -€1,978 | -10.7% |
| Recurring financial charges | 65 | €18,524 | €16,546 | -€1,978 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,814 | -€13,480 | +€1,334 | +9.0% |
| Profit (loss) for the period | 9904 | -€14,814 | -€13,480 | +€1,334 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,814 | -€13,480 | +€1,334 | +9.0% |
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.