Promo: 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.
What changed
Promo
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€67,170
2024 · €207,807-€274,976
Equity
€1.5m
2024 · €1.6m-€67,170
Cash
€341,294
2024 · €428,755-€87,461
Balance sheet total
€3.2m
2024 · €3.4m-€213,419
Largest movements
Assets
- Tangible fixed assets -€126,653
down €126,653 (-4.3%), from €3.0m to €2.8m
of which Land and buildings: -€135,486
- Cash -€87,461
down €87,461 (-20.4%), from €428,755 to €341,294
mainly Debts after one year (-€87,753) and Net result for the year (-€67,170)
Equity and liabilities
- Debts after one year -€87,753
down €87,753 (-16.1%), from €545,316 to €457,564
- Reserves -€67,170
down €67,170 (-6.3%), from €1.1m to €992,941
of which Tax-exempt reserves: -€68,246
Income statement
- Gross operating margin -€355,220
down €355,220 (-71.4%), from €497,361 to €142,141
- Financial income -€15,620
down €15,620 (-92.1%), from €16,951 to €1,331
- Financial charges -€6,911
down €6,911 (-8.6%), from €80,735 to €73,824
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
€207,807
Gross operating margin
-€355,220
Depreciation
-€1,380
Other operating charges
+€3,438
Financial income
-€15,620
Financial charges
+€6,911
Taxes
+€2,587
Deferred taxes and other
+€84,308
Result 2025
-€67,170
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.
From operations
+€22,542
Investment
-€13,424
Financing
-€96,579
Cash 2024
€428,755
From operations (derived)
+€22,542
Net result for the year
-€67,170
Depreciation
+€140,077
Receivables within one year
-€532
Deferred charges and accrued income
-€163
Provisions
-€27,394
Trade debts
+€13,509
Tax, wage and social debts
-€1,999
Other debts
-€28,058
Accrued charges and deferred income
-€5,728
Investment (derived)
-€13,424
Investment in fixed assets (net)
-€13,424
Financing
-€96,579
Debts after one year
-€87,753
Current portion of long-term debt
-€8,827
Cash 2025
€341,294
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,435,846 | €3,222,427 | -€213,419 | -6.2% |
| Fixed assets | 21/28 | €2,959,078 | €2,832,425 | -€126,653 | -4.3% |
| Tangible fixed assets | 22/27 | €2,959,078 | €2,832,425 | -€126,653 | -4.3% |
| Land and buildings | 22 | €2,959,078 | €2,823,592 | -€135,486 | -4.6% |
| Furniture and vehicles | 24 | €0 | €8,833 | +€8,833 | |
| Current assets | 29/58 | €476,768 | €390,002 | -€86,766 | -18.2% |
| Amounts receivable within one year | 40/41 | - | €532 | +€532 | |
| Other amounts receivable | 41 | - | €532 | +€532 | |
| Current investments | 50/53 | €44,111 | €44,111 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €428,755 | €341,294 | -€87,461 | -20.4% |
| Deferred charges and accrued income | 490/1 | €3,903 | €4,066 | +€163 | +4.2% |
| Total equity and liabilities | 10/49 | €3,435,846 | €3,222,427 | -€213,419 | -6.2% |
| Equity | 10/15 | €1,550,111 | €1,482,941 | -€67,170 | -4.3% |
| Contributions | 10/11 | €490,000 | €490,000 | = | 0.0% |
| Capital | 10 | €490,000 | €490,000 | = | 0.0% |
| Issued capital | 100 | €490,000 | €490,000 | = | 0.0% |
| Reserves | 13 | €1,060,111 | €992,941 | -€67,170 | -6.3% |
| Non-distributable reserves | 130/1 | €49,000 | €49,000 | = | 0.0% |
| Legal reserve | 130 | €49,000 | €49,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €945,491 | €877,245 | -€68,246 | -7.2% |
| Distributable reserves | 133 | €65,620 | €66,696 | +€1,076 | +1.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €380,473 | €353,079 | -€27,394 | -7.2% |
| Deferred taxes | 168 | €380,473 | €353,079 | -€27,394 | -7.2% |
| Amounts payable | 17/49 | €1,505,263 | €1,386,407 | -€118,856 | -7.9% |
| Amounts payable after more than one year | 17 | €545,316 | €457,564 | -€87,753 | -16.1% |
| Financial debts | 170/4 | €545,316 | €457,564 | -€87,753 | -16.1% |
| Amounts payable within one year | 42/48 | €895,754 | €870,379 | -€25,375 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €96,579 | €87,753 | -€8,827 | -9.1% |
| Trade debts | 44 | €21,253 | €34,762 | +€13,509 | +63.6% |
| Suppliers | 440/4 | €21,253 | €34,762 | +€13,509 | +63.6% |
| Taxes, remuneration and social security | 45 | €3,779 | €1,780 | -€1,999 | -52.9% |
| Taxes | 450/3 | €3,779 | €1,780 | -€1,999 | -52.9% |
| Other amounts payable | 47/48 | €774,142 | €746,085 | -€28,058 | -3.6% |
| Accrued charges and deferred income | 492/3 | €64,193 | €58,464 | -€5,728 | -8.9% |
| Non-recurring operating income | 76A | €374,467 | €0 | -€374,467 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,697 | €140,077 | +€1,380 | +1.0% |
| Other operating charges | 640/8 | €25,204 | €21,767 | -€3,438 | -13.6% |
| Gross operating margin | 9900 | €497,361 | €142,141 | -€355,220 | -71.4% |
| Operating profit (loss) | 9901 | €333,460 | -€19,703 | -€353,163 | |
| Financial income | 75/76B | €16,951 | €1,331 | -€15,620 | -92.1% |
| Recurring financial income | 75 | €16,951 | €1,331 | -€15,620 | -92.1% |
| Financial charges | 65/66B | €80,735 | €73,824 | -€6,911 | -8.6% |
| Recurring financial charges | 65 | €80,735 | €73,824 | -€6,911 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €269,676 | -€92,196 | -€361,872 | |
| Transfer from deferred taxes | 780 | €26,702 | €27,394 | +€692 | +2.6% |
| Transfer to deferred taxes | 680 | €83,617 | €0 | -€83,617 | -100.0% |
| Income taxes | 67/77 | €4,955 | €2,367 | -€2,587 | -52.2% |
| Profit (loss) for the period | 9904 | €207,807 | -€67,170 | -€274,976 | |
| Transfer from tax-exempt reserves | 789 | €66,179 | €68,246 | +€2,067 | +3.1% |
| Transfer to tax-exempt reserves | 689 | €250,850 | €0 | -€250,850 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,135 | €1,076 | -€22,059 | -95.3% |
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 5 October 2026 via checked.be.