Palais 48: 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.
Palais 48
Largest movements
- Tangible fixed assets +€323,018
up €323,018 (+40.7%), from €793,143 to €1.1m
- Receivables within one year +€30,093
up €30,093 (+23.7%), from €126,991 to €157,084
- Debts after one year +€834,727
new in 2025: €834,727
- Other debts -€630,612
no longer reported in 2025 (was €630,612)
- Trade debts +€134,111
up €134,111 (+59.4%), from €225,801 to €359,911
- Accrued charges and deferred income +€18,609
up €18,609 (+92.5%), from €20,115 to €38,724
- Other operating charges -€26,456
down €26,456 (-97.8%), from €27,064 to €607
- Gross operating margin -€22,067
down €22,067, from €19,280 to -€2,788
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 | €924,007 | €1,276,818 | +€352,811 | +38.2% |
| Fixed assets | 21/28 | €793,143 | €1,116,160 | +€323,018 | +40.7% |
| Tangible fixed assets | 22/27 | €793,143 | €1,116,160 | +€323,018 | +40.7% |
| Assets under construction and advance payments | 27 | €793,143 | €1,116,160 | +€323,018 | +40.7% |
| Current assets | 29/58 | €130,864 | €160,658 | +€29,794 | +22.8% |
| Amounts receivable within one year | 40/41 | €126,991 | €157,084 | +€30,093 | +23.7% |
| Other amounts receivable | 41 | €126,991 | €157,084 | +€30,093 | +23.7% |
| Cash at bank and in hand | 54/58 | €3,874 | €3,574 | -€299 | -7.7% |
| Total equity and liabilities | 10/49 | €924,007 | €1,276,818 | +€352,811 | +38.2% |
| Equity | 10/15 | €47,480 | €43,456 | -€4,023 | -8.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,020 | -€18,044 | -€4,023 | -28.7% |
| Amounts payable | 17/49 | €876,527 | €1,233,362 | +€356,835 | +40.7% |
| Amounts payable after more than one year | 17 | - | €834,727 | +€834,727 | |
| Other amounts payable | 178/9 | - | €834,727 | +€834,727 | |
| Amounts payable within one year | 42/48 | €856,412 | €359,911 | -€496,501 | -58.0% |
| Trade debts | 44 | €225,801 | €359,911 | +€134,111 | +59.4% |
| Suppliers | 440/4 | €225,801 | €359,911 | +€134,111 | +59.4% |
| Other amounts payable | 47/48 | €630,612 | - | -€630,612 | |
| Accrued charges and deferred income | 492/3 | €20,115 | €38,724 | +€18,609 | +92.5% |
| Other operating charges | 640/8 | €27,064 | €607 | -€26,456 | -97.8% |
| Gross operating margin | 9900 | €19,280 | -€2,788 | -€22,067 | |
| Operating profit (loss) | 9901 | -€7,784 | -€3,395 | +€4,389 | +56.4% |
| Financial charges | 65/66B | €684 | €628 | -€55 | -8.1% |
| Recurring financial charges | 65 | €684 | €628 | -€55 | -8.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,468 | -€4,023 | +€4,445 | +52.5% |
| Profit (loss) for the period | 9904 | -€8,468 | -€4,023 | +€4,445 | +52.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,468 | -€4,023 | +€4,445 | +52.5% |
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 22 October 2026 via checked.be.