PROMOVER: 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.
PROMOVER
Largest movements
- Tangible fixed assets +€541,528
up €541,528 (+30.6%), from €1.8m to €2.3m
of which Assets under construction and advance payments: +€623,516
- Current investments +€41,035
up €41,035 (+13.7%), from €298,790 to €339,825
- Debts after one year +€331,193
up €331,193 (+78.3%), from €422,751 to €753,944
of which Financial debts: +€331,353
- Trade debts +€235,174
up €235,174 (+15968.6%), from €1,473 to €236,647
- Reserves +€36,239
up €36,239 (+10.0%), from €362,699 to €398,938
of which Distributable reserves: +€40,000
- Depreciation -€57,830
down €57,830 (-38.6%), from €149,638 to €91,808
- Financial income +€34,455
up €34,455 (+278.7%), from €12,361 to €46,816
- Gross operating margin +€18,984
up €18,984 (+19.0%), from €99,701 to €118,685
- Financial charges +€5,870
up €5,870 (+23.3%), from €25,183 to €31,053
- Taxes +€4,037
up €4,037 (+3153.9%), from €128 to €4,165
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 | €2,242,822 | €2,851,667 | +€608,845 | +27.1% |
| Fixed assets | 21/28 | €1,770,261 | €2,311,789 | +€541,528 | +30.6% |
| Tangible fixed assets | 22/27 | €1,770,261 | €2,311,789 | +€541,528 | +30.6% |
| Land and buildings | 22 | €1,686,862 | €1,609,907 | -€76,954 | -4.6% |
| Plant, machinery and equipment | 23 | €2,172 | €1,409 | -€763 | -35.1% |
| Furniture and vehicles | 24 | €53,284 | €49,014 | -€4,270 | -8.0% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Assets under construction and advance payments | 27 | €27,944 | €651,460 | +€623,516 | +2231.3% |
| Current assets | 29/58 | €472,562 | €539,878 | +€67,317 | +14.2% |
| Amounts receivable within one year | 40/41 | €100,043 | €117,275 | +€17,232 | +17.2% |
| Other amounts receivable | 41 | €100,043 | €117,275 | +€17,232 | +17.2% |
| Current investments | 50/53 | €298,790 | €339,825 | +€41,035 | +13.7% |
| Cash at bank and in hand | 54/58 | €70,118 | €82,779 | +€12,661 | +18.1% |
| Deferred charges and accrued income | 490/1 | €3,611 | - | -€3,611 | |
| Total equity and liabilities | 10/49 | €2,242,822 | €2,851,667 | +€608,845 | +27.1% |
| Equity | 10/15 | €1,650,088 | €1,687,658 | +€37,570 | +2.3% |
| Contributions | 10/11 | €780,379 | €780,379 | = | 0.0% |
| Reserves | 13 | €362,699 | €398,938 | +€36,239 | +10.0% |
| Tax-exempt reserves | 132 | €344,671 | €340,910 | -€3,761 | -1.1% |
| Distributable reserves | 133 | €18,028 | €58,028 | +€40,000 | +221.9% |
| Profit (loss) carried forward | 14 | €507,010 | €508,341 | +€1,331 | +0.3% |
| Provisions and deferred taxes | 16 | €121,724 | €119,787 | -€1,937 | -1.6% |
| Deferred taxes | 168 | €121,724 | €119,787 | -€1,937 | -1.6% |
| Amounts payable | 17/49 | €471,011 | €1,044,222 | +€573,212 | +121.7% |
| Amounts payable after more than one year | 17 | €422,751 | €753,944 | +€331,193 | +78.3% |
| Financial debts | 170/4 | €421,651 | €753,004 | +€331,353 | +78.6% |
| Other amounts payable | 178/9 | €1,100 | €940 | -€160 | -14.5% |
| Amounts payable within one year | 42/48 | €45,882 | €289,926 | +€244,044 | +531.9% |
| Current portion of amounts payable after more than one year | 42 | €30,055 | €29,727 | -€328 | -1.1% |
| Trade debts | 44 | €1,473 | €236,647 | +€235,174 | +15968.6% |
| Suppliers | 440/4 | €1,473 | €236,647 | +€235,174 | +15968.6% |
| Taxes, remuneration and social security | 45 | €3,150 | €550 | -€2,600 | -82.5% |
| Taxes | 450/3 | €3,150 | €550 | -€2,600 | -82.5% |
| Other amounts payable | 47/48 | €11,205 | €23,002 | +€11,797 | +105.3% |
| Accrued charges and deferred income | 492/3 | €2,378 | €352 | -€2,025 | -85.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €149,638 | €91,808 | -€57,830 | -38.6% |
| Other operating charges | 640/8 | €1,589 | €2,222 | +€633 | +39.9% |
| Non-recurring operating charges | 66A | - | €619 | +€619 | |
| Gross operating margin | 9900 | €99,701 | €118,685 | +€18,984 | +19.0% |
| Operating profit (loss) | 9901 | -€51,526 | €24,035 | +€75,561 | |
| Financial income | 75/76B | €12,361 | €46,816 | +€34,455 | +278.7% |
| Recurring financial income | 75 | €12,361 | €46,816 | +€34,455 | +278.7% |
| Financial charges | 65/66B | €25,183 | €31,053 | +€5,870 | +23.3% |
| Recurring financial charges | 65 | €25,183 | €31,053 | +€5,870 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | -€64,348 | €39,798 | +€104,146 | |
| Transfer from deferred taxes | 780 | €1,937 | €1,937 | = | 0.0% |
| Transfer to deferred taxes | 680 | €4,188 | - | -€4,188 | |
| Income taxes | 67/77 | €128 | €4,165 | +€4,037 | +3153.9% |
| Profit (loss) for the period | 9904 | -€66,726 | €37,570 | +€104,296 | |
| Transfer from tax-exempt reserves | 789 | €3,761 | €3,761 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €12,563 | - | -€12,563 | |
| Profit (loss) for the period to be appropriated | 9905 | -€75,528 | €41,331 | +€116,859 |
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.