Uncorked: 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.
Uncorked
Largest movements
- Stocks and contracts -€56,358
down €56,358 (-13.6%), from €415,883 to €359,525
- Tangible fixed assets -€34,966
down €34,966 (-5.3%), from €656,883 to €621,917
of which Land and buildings: -€35,390
- Cash +€20,265
up €20,265 (+424.7%), from €4,772 to €25,037
mainly Stocks and contracts (+€56,358) and Net result for the year (+€50,229)
- Debts after one year -€72,040
down €72,040 (-13.9%), from €516,733 to €444,693
- Reserves +€50,300
up €50,300 (+12.9%), from €391,237 to €441,537
- Other debts -€24,821
down €24,821 (-24.8%), from €100,143 to €75,322
- Tax, wage and social debts -€20,961
down €20,961 (-28.7%), from €73,025 to €52,064
- Gross operating margin +€27,924
up €27,924 (+23.9%), from €116,846 to €144,770
- Financial charges +€5,720
up €5,720 (+33.3%), from €17,176 to €22,896
- Other operating charges +€3,785
up €3,785 (+41.9%), from €9,023 to €12,808
- Taxes +€3,493
up €3,493 (+18.2%), from €19,158 to €22,650
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 | €1,289,687 | €1,218,573 | -€71,114 | -5.5% |
| Fixed assets | 21/28 | €657,253 | €622,287 | -€34,966 | -5.3% |
| Tangible fixed assets | 22/27 | €656,883 | €621,917 | -€34,966 | -5.3% |
| Land and buildings | 22 | €652,690 | €617,300 | -€35,390 | -5.4% |
| Plant, machinery and equipment | 23 | €425 | €0 | -€425 | -100.0% |
| Furniture and vehicles | 24 | €3,768 | €4,617 | +€849 | +22.5% |
| Financial fixed assets | 28 | €370 | €370 | = | 0.0% |
| Current assets | 29/58 | €632,434 | €596,286 | -€36,148 | -5.7% |
| Stocks and contracts in progress | 3 | €415,883 | €359,525 | -€56,358 | -13.6% |
| Stocks | 30/36 | €415,883 | €359,525 | -€56,358 | -13.6% |
| Amounts receivable within one year | 40/41 | €205,535 | €206,868 | +€1,334 | +0.6% |
| Trade receivables | 40 | €101,185 | €55,219 | -€45,967 | -45.4% |
| Other amounts receivable | 41 | €104,349 | €151,650 | +€47,300 | +45.3% |
| Cash at bank and in hand | 54/58 | €4,772 | €25,037 | +€20,265 | +424.7% |
| Deferred charges and accrued income | 490/1 | €6,244 | €4,856 | -€1,388 | -22.2% |
| Total equity and liabilities | 10/49 | €1,289,687 | €1,218,573 | -€71,114 | -5.5% |
| Equity | 10/15 | €408,583 | €458,812 | +€50,229 | +12.3% |
| Contributions | 10/11 | €17,254 | €17,254 | = | 0.0% |
| Reserves | 13 | €391,237 | €441,537 | +€50,300 | +12.9% |
| Distributable reserves | 133 | €391,237 | €441,537 | +€50,300 | +12.9% |
| Profit (loss) carried forward | 14 | €92 | €21 | -€71 | -77.4% |
| Amounts payable | 17/49 | €881,104 | €759,761 | -€121,342 | -13.8% |
| Amounts payable after more than one year | 17 | €516,733 | €444,693 | -€72,040 | -13.9% |
| Financial debts | 170/4 | €516,733 | €444,693 | -€72,040 | -13.9% |
| Amounts payable within one year | 42/48 | €364,371 | €315,069 | -€49,302 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €71,873 | €72,040 | +€167 | +0.2% |
| Financial debts | 43 | €233 | €1,115 | +€882 | +378.1% |
| Credit institutions | 430/8 | €215 | €1,115 | +€900 | +418.0% |
| Other loans | 439 | €18 | €0 | -€18 | -100.0% |
| Trade debts | 44 | €118,897 | €114,327 | -€4,569 | -3.8% |
| Suppliers | 440/4 | €118,897 | €114,327 | -€4,569 | -3.8% |
| Advances received on contracts in progress | 46 | €200 | €200 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €73,025 | €52,064 | -€20,961 | -28.7% |
| Taxes | 450/3 | €73,025 | €52,064 | -€20,961 | -28.7% |
| Other amounts payable | 47/48 | €100,143 | €75,322 | -€24,821 | -24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,617 | €37,426 | -€191 | -0.5% |
| Other operating charges | 640/8 | €9,023 | €12,808 | +€3,785 | +41.9% |
| Gross operating margin | 9900 | €116,846 | €144,770 | +€27,924 | +23.9% |
| Operating profit (loss) | 9901 | €70,206 | €94,536 | +€24,330 | +34.7% |
| Financial income | 75/76B | €1,556 | €1,240 | -€316 | -20.3% |
| Recurring financial income | 75 | €1,556 | €1,240 | -€316 | -20.3% |
| Financial charges | 65/66B | €17,176 | €22,896 | +€5,720 | +33.3% |
| Recurring financial charges | 65 | €17,176 | €22,896 | +€5,720 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | €54,586 | €72,879 | +€18,293 | +33.5% |
| Income taxes | 67/77 | €19,158 | €22,650 | +€3,493 | +18.2% |
| Profit (loss) for the period | 9904 | €35,428 | €50,229 | +€14,801 | +41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,428 | €50,229 | +€14,801 | +41.8% |
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 6 October 2026 via checked.be.