Red, White & Sparkling: what changed
Two financial 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.
Red, White & Sparkling
Largest movements
- Cash +€29,252
up €29,252 (+68.1%), from €42,937 to €72,189
mainly Net result for the year (+€82,374) and Depreciation (+€37,822)
- Intangible fixed assets -€25,668
down €25,668 (-18.0%), from €142,261 to €116,594
- Tangible fixed assets -€5,120
down €5,120 (-18.0%), from €28,380 to €23,261
of which Furniture and vehicles: -€5,969
- Stocks and contracts -€4,126
down €4,126 (-9.8%), from €41,988 to €37,862
- Receivables within one year +€3,489
up €3,489 (+56.8%), from €6,140 to €9,630
of which Trade receivables: +€2,452
- Debts after one year -€68,731
down €68,731 (-56.2%), from €122,285 to €53,553
- Profit (loss) carried forward +€47,867
no longer reported in 2025 (was -€47,867)
- Reserves +€34,507
new in 2025: €34,507
- Other debts -€13,963
down €13,963 (-21.0%), from €66,541 to €52,578
- Trade debts -€3,810
down €3,810 (-9.6%), from €39,744 to €35,934
- Depreciation -€9,197
down €9,197 (-19.6%), from €47,019 to €37,822
- Gross operating margin +€6,870
up €6,870 (+2.3%), from €301,901 to €308,771
- Staff costs -€3,560
down €3,560 (-2.1%), from €172,528 to €168,968
- Other operating charges +€3,465
up €3,465 (+53.3%), from €6,503 to €9,967
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.
Derived cash bridge
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 | €265,146 | €262,996 | -€2,151 | -0.8% |
| Fixed assets | 21/28 | €171,192 | €140,404 | -€30,787 | -18.0% |
| Intangible fixed assets | 21 | €142,261 | €116,594 | -€25,668 | -18.0% |
| Tangible fixed assets | 22/27 | €28,380 | €23,261 | -€5,120 | -18.0% |
| Land and buildings | 22 | €7,529 | €4,944 | -€2,585 | -34.3% |
| Plant, machinery and equipment | 23 | €6,453 | €9,887 | +€3,434 | +53.2% |
| Furniture and vehicles | 24 | €14,398 | €8,429 | -€5,969 | -41.5% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €93,954 | €122,591 | +€28,637 | +30.5% |
| Stocks and contracts in progress | 3 | €41,988 | €37,862 | -€4,126 | -9.8% |
| Stocks | 30/36 | €41,988 | €37,862 | -€4,126 | -9.8% |
| Amounts receivable within one year | 40/41 | €6,140 | €9,630 | +€3,489 | +56.8% |
| Trade receivables | 40 | €6,140 | €8,592 | +€2,452 | +39.9% |
| Other amounts receivable | 41 | - | €1,037 | +€1,037 | |
| Cash at bank and in hand | 54/58 | €42,937 | €72,189 | +€29,252 | +68.1% |
| Deferred charges and accrued income | 490/1 | €2,890 | €2,911 | +€21 | +0.7% |
| Total equity and liabilities | 10/49 | €265,146 | €262,996 | -€2,151 | -0.8% |
| Equity | 10/15 | -€42,867 | €39,507 | +€82,374 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €34,507 | +€34,507 | |
| Distributable reserves | 133 | - | €34,507 | +€34,507 | |
| Profit (loss) carried forward | 14 | -€47,867 | - | +€47,867 | |
| Amounts payable | 17/49 | €308,013 | €223,489 | -€84,524 | -27.4% |
| Amounts payable after more than one year | 17 | €122,285 | €53,553 | -€68,731 | -56.2% |
| Financial debts | 170/4 | €122,285 | €53,553 | -€68,731 | -56.2% |
| Amounts payable within one year | 42/48 | €182,846 | €167,055 | -€15,792 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €33,160 | €33,731 | +€572 | +1.7% |
| Trade debts | 44 | €39,744 | €35,934 | -€3,810 | -9.6% |
| Suppliers | 440/4 | €39,744 | €35,934 | -€3,810 | -9.6% |
| Advances received on contracts in progress | 46 | €1,218 | €2,851 | +€1,633 | +134% |
| Taxes, remuneration and social security | 45 | €42,184 | €41,960 | -€224 | -0.5% |
| Taxes | 450/3 | €17,977 | €21,974 | +€3,997 | +22.2% |
| Remuneration and social security | 454/9 | €24,207 | €19,987 | -€4,221 | -17.4% |
| Other amounts payable | 47/48 | €66,541 | €52,578 | -€13,963 | -21.0% |
| Accrued charges and deferred income | 492/3 | €2,882 | €2,881 | -€2 | -0.1% |
| Remuneration, social security and pensions | 62 | €172,528 | €168,968 | -€3,560 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,019 | €37,822 | -€9,197 | -19.6% |
| Other operating charges | 640/8 | €6,503 | €9,967 | +€3,465 | +53.3% |
| Gross operating margin | 9900 | €301,901 | €308,771 | +€6,870 | +2.3% |
| Operating profit (loss) | 9901 | €75,852 | €92,013 | +€16,162 | +21.3% |
| Financial income | 75/76B | €0 | €7 | +€7 | +21,900% |
| Recurring financial income | 75 | €0 | €7 | +€7 | +21,900% |
| Financial charges | 65/66B | €5,003 | €2,922 | -€2,080 | -41.6% |
| Recurring financial charges | 65 | €5,003 | €2,922 | -€2,080 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €70,849 | €89,097 | +€18,249 | +25.8% |
| Income taxes | 67/77 | €6,633 | €6,724 | +€91 | +1.4% |
| Profit (loss) for the period | 9904 | €64,216 | €82,374 | +€18,158 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €64,216 | €82,374 | +€18,158 | +28.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.