PARABELLUM: what changed
Two fiscal 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.
PARABELLUM
Largest movements
- Tangible fixed assets +€95,036
up €95,036 (+50.2%), from €189,293 to €284,328
of which Plant, machinery and equipment: +€99,884
- Cash -€6,279
down €6,279 (-88.0%), from €7,132 to €853
mainly Investment in fixed assets (net) (-€111,683) and Other debts (-€3,511)
- Profit (loss) carried forward +€51,041
up €51,041 (+40.6%), from €125,742 to €176,783
- Debts after one year +€30,020
up €30,020 (+13.1%), from €228,498 to €258,518
- Current portion of long-term debt +€15,600
up €15,600 (+92.3%), from €16,900 to €32,500
- Gross operating margin +€17,523
up €17,523 (+72.3%), from €24,248 to €41,771
- Financial income +€13,453
up €13,453 (+53.8%), from €25,007 to €38,460
- Depreciation -€10,003
down €10,003 (-37.5%), from €26,650 to €16,647
- Financial charges +€5,680
up €5,680 (+125.1%), from €4,539 to €10,219
- Taxes +€1,740
up €1,740 (+8614.4%), from €20 to €1,760
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.
Cash bridge derived
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 | €477,734 | €568,641 | +€90,908 | +19.0% |
| Fixed assets | 21/28 | €469,293 | €564,328 | +€95,036 | +20.3% |
| Tangible fixed assets | 22/27 | €189,293 | €284,328 | +€95,036 | +50.2% |
| Land and buildings | 22 | €157,172 | €152,323 | -€4,848 | -3.1% |
| Plant, machinery and equipment | 23 | €32,121 | €132,005 | +€99,884 | +311.0% |
| Financial fixed assets | 28 | €280,000 | €280,000 | = | 0.0% |
| Current assets | 29/58 | €8,441 | €4,313 | -€4,128 | -48.9% |
| Amounts receivable within one year | 40/41 | - | €3,460 | +€3,460 | |
| Other amounts receivable | 41 | - | €3,460 | +€3,460 | |
| Cash at bank and in hand | 54/58 | €7,132 | €853 | -€6,279 | -88.0% |
| Deferred charges and accrued income | 490/1 | €1,309 | - | -€1,309 | |
| Total equity and liabilities | 10/49 | €477,734 | €568,641 | +€90,908 | +19.0% |
| Equity | 10/15 | €135,742 | €186,783 | +€51,041 | +37.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,742 | €176,783 | +€51,041 | +40.6% |
| Amounts payable | 17/49 | €341,992 | €381,858 | +€39,866 | +11.7% |
| Amounts payable after more than one year | 17 | €228,498 | €258,518 | +€30,020 | +13.1% |
| Financial debts | 170/4 | €228,498 | €258,518 | +€30,020 | +13.1% |
| Amounts payable within one year | 42/48 | €113,494 | €122,653 | +€9,159 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €16,900 | €32,500 | +€15,600 | +92.3% |
| Trade debts | 44 | €1,117 | - | -€1,117 | |
| Suppliers | 440/4 | €1,117 | - | -€1,117 | |
| Taxes, remuneration and social security | 45 | €9,417 | €7,603 | -€1,814 | -19.3% |
| Taxes | 450/3 | €9,417 | €7,603 | -€1,814 | -19.3% |
| Other amounts payable | 47/48 | €86,061 | €82,550 | -€3,511 | -4.1% |
| Accrued charges and deferred income | 492/3 | - | €687 | +€687 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,650 | €16,647 | -€10,003 | -37.5% |
| Other operating charges | 640/8 | €278 | €564 | +€286 | +103.0% |
| Gross operating margin | 9900 | €24,248 | €41,771 | +€17,523 | +72.3% |
| Operating profit (loss) | 9901 | -€2,680 | €24,560 | +€27,240 | |
| Financial income | 75/76B | €25,007 | €38,460 | +€13,453 | +53.8% |
| Recurring financial income | 75 | €25,007 | €38,460 | +€13,453 | +53.8% |
| Financial charges | 65/66B | €4,539 | €10,219 | +€5,680 | +125.1% |
| Recurring financial charges | 65 | €4,539 | €10,219 | +€5,680 | +125.1% |
| Profit (loss) for the period before taxes | 9903 | €17,788 | €52,802 | +€35,013 | +196.8% |
| Income taxes | 67/77 | €20 | €1,760 | +€1,740 | +8614.4% |
| Profit (loss) for the period | 9904 | €17,768 | €51,041 | +€33,273 | +187.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,768 | €51,041 | +€33,273 | +187.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.