3 E Concept: 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.
3 E Concept
Largest movements
- Receivables within one year +€27,608
up €27,608 (+54.1%), from €51,075 to €78,683
of which Trade receivables: +€27,369
- Tangible fixed assets -€5,393
down €5,393 (-2.0%), from €266,825 to €261,432
of which Land and buildings: -€5,760
- Profit (loss) carried forward +€27,967
up €27,967 (+54.2%), from -€51,570 to -€23,603
- Debts after one year -€9,912
down €9,912 (-17.3%), from €57,438 to €47,525
- Staff costs -€20,577
down €20,577 (-49.9%), from €41,224 to €20,647
- Gross operating margin +€19,258
up €19,258 (+36.2%), from €53,190 to €72,448
- Taxes +€6,161
up €6,161 (+4496.8%), from €137 to €6,298
- Other operating charges -€1,441
down €1,441 (-25.4%), from €5,669 to €4,229
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 | €317,916 | €340,131 | +€22,215 | +7.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €266,825 | €261,432 | -€5,393 | -2.0% |
| Tangible fixed assets | 22/27 | €266,825 | €261,432 | -€5,393 | -2.0% |
| Land and buildings | 22 | €263,892 | €258,132 | -€5,760 | -2.2% |
| Plant, machinery and equipment | 23 | €2,276 | €2,918 | +€642 | +28.2% |
| Furniture and vehicles | 24 | €657 | €382 | -€275 | -41.9% |
| Current assets | 29/58 | €51,090 | €78,699 | +€27,608 | +54.0% |
| Amounts receivable within one year | 40/41 | €51,075 | €78,683 | +€27,608 | +54.1% |
| Trade receivables | 40 | €46,889 | €74,257 | +€27,369 | +58.4% |
| Other amounts receivable | 41 | €4,186 | €4,426 | +€240 | +5.7% |
| Cash at bank and in hand | 54/58 | €16 | €16 | = | 0.0% |
| Total equity and liabilities | 10/49 | €317,916 | €340,131 | +€22,215 | +7.0% |
| Equity | 10/15 | €64,630 | €92,597 | +€27,967 | +43.3% |
| Contributions | 10/11 | €66,200 | €66,200 | = | 0.0% |
| Revaluation surpluses | 12 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,570 | -€23,603 | +€27,967 | +54.2% |
| Amounts payable | 17/49 | €253,285 | €247,534 | -€5,752 | -2.3% |
| Amounts payable after more than one year | 17 | €57,438 | €47,525 | -€9,912 | -17.3% |
| Financial debts | 170/4 | €57,438 | €47,525 | -€9,912 | -17.3% |
| Amounts payable within one year | 42/48 | €195,848 | €200,008 | +€4,161 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €12,057 | €9,912 | -€2,145 | -17.8% |
| Financial debts | 43 | €9,969 | €9,987 | +€18 | +0.2% |
| Credit institutions | 430/8 | €9,969 | €9,987 | +€18 | +0.2% |
| Trade debts | 44 | €9,272 | €9,541 | +€270 | +2.9% |
| Suppliers | 440/4 | €9,272 | €9,541 | +€270 | +2.9% |
| Taxes, remuneration and social security | 45 | €17,296 | €20,556 | +€3,260 | +18.8% |
| Taxes | 450/3 | €11,355 | €14,151 | +€2,797 | +24.6% |
| Remuneration and social security | 454/9 | €5,942 | €6,405 | +€463 | +7.8% |
| Other amounts payable | 47/48 | €147,253 | €150,012 | +€2,758 | +1.9% |
| Remuneration, social security and pensions | 62 | €41,224 | €20,647 | -€20,577 | -49.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,044 | €6,404 | +€361 | +6.0% |
| Other operating charges | 640/8 | €5,669 | €4,229 | -€1,441 | -25.4% |
| Gross operating margin | 9900 | €53,190 | €72,448 | +€19,258 | +36.2% |
| Operating profit (loss) | 9901 | €253 | €41,168 | +€40,916 | +16184.3% |
| Financial income | 75/76B | €29 | €4 | -€25 | -86.9% |
| Recurring financial income | 75 | €29 | €4 | -€25 | -86.9% |
| Financial charges | 65/66B | €6,873 | €6,908 | +€35 | +0.5% |
| Recurring financial charges | 65 | €6,873 | €6,908 | +€35 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,591 | €34,264 | +€40,856 | |
| Income taxes | 67/77 | €137 | €6,298 | +€6,161 | +4496.8% |
| Profit (loss) for the period | 9904 | -€6,728 | €27,967 | +€34,695 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,728 | €27,967 | +€34,695 |
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 9 October 2026 via checked.be.