Placebo: 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.
Placebo
Largest movements
- Deferred charges and accrued income -€36,440
down €36,440 (-79.1%), from €46,085 to €9,645
- Receivables within one year +€29,141
up €29,141 (+90.4%), from €32,247 to €61,388
of which Other amounts receivable: +€29,969
- Debts after one year -€83,750
down €83,750 (-25.9%), from €322,798 to €239,047
- Reserves +€64,567
up €64,567 (+35.4%), from €182,301 to €246,868
of which Tax-exempt reserves: +€64,567
- Profit (loss) carried forward +€26,853
up €26,853 (+26.3%), from -€101,934 to -€75,081
- Provisions +€21,522
up €21,522 (+54.8%), from €39,249 to €60,772
- Gross operating margin +€114,555
up €114,555 (+89.7%), from €127,671 to €242,226
- Taxes +€15,832
up €15,832 (+2021.9%), from €783 to €16,615
- Depreciation +€14,924
up €14,924 (+26.1%), from €57,076 to €72,000
- Financial charges -€3,144
down €3,144 (-21.7%), from €14,498 to €11,354
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,973,154 | €1,998,344 | +€25,190 | +1.3% |
| Fixed assets | 21/28 | €1,889,475 | €1,906,072 | +€16,597 | +0.9% |
| Tangible fixed assets | 22/27 | €1,889,475 | €1,906,072 | +€16,597 | +0.9% |
| Land and buildings | 22 | €1,888,757 | €1,905,604 | +€16,846 | +0.9% |
| Furniture and vehicles | 24 | €718 | €469 | -€250 | -34.8% |
| Current assets | 29/58 | €83,678 | €92,272 | +€8,593 | +10.3% |
| Amounts receivable within one year | 40/41 | €32,247 | €61,388 | +€29,141 | +90.4% |
| Trade receivables | 40 | €4,440 | €3,612 | -€828 | -18.7% |
| Other amounts receivable | 41 | €27,807 | €57,776 | +€29,969 | +107.8% |
| Cash at bank and in hand | 54/58 | €5,346 | €21,239 | +€15,893 | +297.3% |
| Deferred charges and accrued income | 490/1 | €46,085 | €9,645 | -€36,440 | -79.1% |
| Total equity and liabilities | 10/49 | €1,973,154 | €1,998,344 | +€25,190 | +1.3% |
| Equity | 10/15 | €576,367 | €667,787 | +€91,420 | +15.9% |
| Contributions | 10/11 | €496,000 | €496,000 | = | 0.0% |
| Capital | 10 | €496,000 | €496,000 | = | 0.0% |
| Issued capital | 100 | €496,000 | €496,000 | = | 0.0% |
| Reserves | 13 | €182,301 | €246,868 | +€64,567 | +35.4% |
| Non-distributable reserves | 130/1 | €49,600 | €49,600 | = | 0.0% |
| Legal reserve | 130 | €49,600 | €49,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €117,748 | €182,315 | +€64,567 | +54.8% |
| Distributable reserves | 133 | €14,953 | €14,953 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,934 | -€75,081 | +€26,853 | +26.3% |
| Provisions and deferred taxes | 16 | €39,249 | €60,772 | +€21,522 | +54.8% |
| Deferred taxes | 168 | €39,249 | €60,772 | +€21,522 | +54.8% |
| Amounts payable | 17/49 | €1,357,537 | €1,269,785 | -€87,752 | -6.5% |
| Amounts payable after more than one year | 17 | €322,798 | €239,047 | -€83,750 | -25.9% |
| Financial debts | 170/4 | €322,798 | €239,047 | -€83,750 | -25.9% |
| Amounts payable within one year | 42/48 | €1,024,201 | €1,023,814 | -€386 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €103,022 | €83,750 | -€19,271 | -18.7% |
| Trade debts | 44 | €70,693 | €86,598 | +€15,905 | +22.5% |
| Suppliers | 440/4 | €70,693 | €86,598 | +€15,905 | +22.5% |
| Taxes, remuneration and social security | 45 | €1,163 | €17,398 | +€16,235 | +1396.0% |
| Taxes | 450/3 | €1,163 | €17,398 | +€16,235 | +1396.0% |
| Other amounts payable | 47/48 | €849,323 | €836,068 | -€13,255 | -1.6% |
| Accrued charges and deferred income | 492/3 | €10,539 | €6,924 | -€3,616 | -34.3% |
| Non-recurring operating income | 76A | - | €162,603 | +€162,603 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,076 | €72,000 | +€14,924 | +26.1% |
| Other operating charges | 640/8 | €29,620 | €31,469 | +€1,849 | +6.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €127,671 | €242,226 | +€114,555 | +89.7% |
| Operating profit (loss) | 9901 | €40,975 | €138,757 | +€97,782 | +238.6% |
| Financial income | 75/76B | €345 | €2,154 | +€1,808 | +523.4% |
| Recurring financial income | 75 | €345 | €2,154 | +€1,808 | +523.4% |
| Financial charges | 65/66B | €14,498 | €11,354 | -€3,144 | -21.7% |
| Recurring financial charges | 65 | €14,498 | €11,354 | -€3,144 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €26,823 | €129,557 | +€102,734 | +383.0% |
| Transfer from deferred taxes | 780 | €1,947 | €2,891 | +€944 | +48.5% |
| Transfer to deferred taxes | 680 | - | €24,413 | +€24,413 | |
| Income taxes | 67/77 | €783 | €16,615 | +€15,832 | +2021.9% |
| Profit (loss) for the period | 9904 | €27,986 | €91,420 | +€63,434 | +226.7% |
| Transfer from tax-exempt reserves | 789 | €5,840 | €8,673 | +€2,833 | +48.5% |
| Transfer to tax-exempt reserves | 689 | - | €73,239 | +€73,239 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,826 | €26,853 | -€6,972 | -20.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.