PROMOVAL: 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.
PROMOVAL
Largest movements
- Stocks and contracts -€966,047
down €966,047 (-68.0%), from €1.4m to €455,357
- Cash +€17,859
up €17,859 (+8532.1%), from €209 to €18,068
mainly Stocks and contracts (+€966,047) and Other debts (+€49,627)
- Short-term financial debts -€819,315
no longer reported in 2025 (was €819,315)
- Reserves -€123,000
down €123,000 (-26.4%), from €466,200 to €343,200
of which Distributable reserves: -€123,000
- Other debts +€49,627
up €49,627 (+268.6%), from €18,475 to €68,102
- Tax, wage and social debts -€45,621
no longer reported in 2025 (was €45,621)
- Gross operating margin -€124,387
down €124,387, from €22,012 to -€102,375
- Write-downs -€9,000
no longer reported in 2025 (was €9,000)
- Financial charges -€5,644
down €5,644 (-32.5%), from €17,374 to €11,731
- Taxes -€2,311
down €2,311 (-93.8%), from €2,463 to €152
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 | €1,421,614 | €473,425 | -€948,189 | -66.7% |
| Current assets | 29/58 | €1,421,614 | €473,425 | -€948,189 | -66.7% |
| Stocks and contracts in progress | 3 | €1,421,404 | €455,357 | -€966,047 | -68.0% |
| Stocks | 30/36 | €1,421,404 | €455,357 | -€966,047 | -68.0% |
| Amounts receivable within one year | 40/41 | €0 | €0 | = | |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €209 | €18,068 | +€17,859 | +8532.1% |
| Total equity and liabilities | 10/49 | €1,421,614 | €473,425 | -€948,189 | -66.7% |
| Equity | 10/15 | €531,482 | €405,323 | -€126,158 | -23.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €466,200 | €343,200 | -€123,000 | -26.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €460,000 | €337,000 | -€123,000 | -26.7% |
| Profit (loss) carried forward | 14 | €3,282 | €123 | -€3,158 | -96.2% |
| Amounts payable | 17/49 | €890,132 | €68,102 | -€822,030 | -92.3% |
| Amounts payable within one year | 42/48 | €884,272 | €68,102 | -€816,171 | -92.3% |
| Financial debts | 43 | €819,315 | - | -€819,315 | |
| Credit institutions | 430/8 | €819,315 | - | -€819,315 | |
| Trade debts | 44 | €861 | - | -€861 | |
| Suppliers | 440/4 | €861 | - | -€861 | |
| Taxes, remuneration and social security | 45 | €45,621 | - | -€45,621 | |
| Taxes | 450/3 | €45,621 | - | -€45,621 | |
| Other amounts payable | 47/48 | €18,475 | €68,102 | +€49,627 | +268.6% |
| Accrued charges and deferred income | 492/3 | €5,860 | - | -€5,860 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,000 | - | -€9,000 | |
| Other operating charges | 640/8 | €1,198 | €1,900 | +€703 | +58.7% |
| Non-recurring operating charges | 66A | - | €10,000 | +€10,000 | |
| Gross operating margin | 9900 | €22,012 | -€102,375 | -€124,387 | |
| Operating profit (loss) | 9901 | €11,814 | -€114,276 | -€126,089 | |
| Financial charges | 65/66B | €17,374 | €11,731 | -€5,644 | -32.5% |
| Recurring financial charges | 65 | €17,374 | €11,731 | -€5,644 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,561 | -€126,006 | -€120,446 | -2166.1% |
| Income taxes | 67/77 | €2,463 | €152 | -€2,311 | -93.8% |
| Profit (loss) for the period | 9904 | -€8,024 | -€126,158 | -€118,135 | -1472.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,024 | -€126,158 | -€118,135 | -1472.3% |
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 4 October 2026 via checked.be.