AR-EU ECHAFAUDAGE: 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.
AR-EU ECHAFAUDAGE
Largest movements
- Tangible fixed assets +€310,637
up €310,637 (+459%), from €67,643 to €378,280
of which Land and buildings: +€281,415
- Cash -€147,937
down €147,937 (-46.8%), from €316,439 to €168,501
mainly Investment in fixed assets (net) (-€385,500) and Stocks and contracts (-€30,000)
- Stocks and contracts +€30,000
new in 2025: €30,000
- Receivables within one year -€21,100
down €21,100 (-23.2%), from €90,808 to €69,708
- Profit (loss) carried forward +€95,205
up €95,205 (+24.7%), from €385,084 to €480,289
- Trade debts +€56,319
up €56,319 (+1,235%), from €4,560 to €60,878
- Other debts +€30,000
up €30,000 (+100%), from €30,000 to €60,000
- Tax, wage and social debts -€9,589
down €9,589 (-26.1%), from €36,795 to €27,207
- Gross operating margin +€57,472
up €57,472 (+28.8%), from €199,619 to €257,091
- Depreciation +€50,257
up €50,257 (+205%), from €24,470 to €74,727
- Other operating charges +€3,260
up €3,260 (+32.2%), from €10,129 to €13,389
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 | €476,899 | €648,834 | +€171,935 | +36.1% |
| Fixed assets | 21/28 | €68,443 | €379,215 | +€310,772 | +454% |
| Tangible fixed assets | 22/27 | €67,643 | €378,280 | +€310,637 | +459% |
| Land and buildings | 22 | - | €281,415 | +€281,415 | |
| Plant, machinery and equipment | 23 | €23,498 | €26,178 | +€2,680 | +11.4% |
| Furniture and vehicles | 24 | €44,145 | €70,688 | +€26,542 | +60.1% |
| Financial fixed assets | 28 | €800 | €935 | +€135 | +16.9% |
| Current assets | 29/58 | €408,456 | €269,618 | -€138,837 | -34.0% |
| Stocks and contracts in progress | 3 | - | €30,000 | +€30,000 | |
| Stocks | 30/36 | - | €30,000 | +€30,000 | |
| Amounts receivable within one year | 40/41 | €90,808 | €69,708 | -€21,100 | -23.2% |
| Trade receivables | 40 | €90,808 | €69,708 | -€21,100 | -23.2% |
| Cash at bank and in hand | 54/58 | €316,439 | €168,501 | -€147,937 | -46.8% |
| Deferred charges and accrued income | 490/1 | €1,209 | €1,409 | +€200 | +16.5% |
| Total equity and liabilities | 10/49 | €476,899 | €648,834 | +€171,935 | +36.1% |
| Equity | 10/15 | €405,544 | €500,749 | +€95,205 | +23.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €385,084 | €480,289 | +€95,205 | +24.7% |
| Amounts payable | 17/49 | €71,355 | €148,085 | +€76,730 | +108% |
| Amounts payable within one year | 42/48 | €71,355 | €148,085 | +€76,730 | +108% |
| Trade debts | 44 | €4,560 | €60,878 | +€56,319 | +1,235% |
| Suppliers | 440/4 | €4,560 | €60,878 | +€56,319 | +1,235% |
| Taxes, remuneration and social security | 45 | €36,795 | €27,207 | -€9,589 | -26.1% |
| Taxes | 450/3 | €36,795 | €27,207 | -€9,589 | -26.1% |
| Other amounts payable | 47/48 | €30,000 | €60,000 | +€30,000 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,470 | €74,727 | +€50,257 | +205% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,094 | +€1,094 | |
| Other operating charges | 640/8 | €10,129 | €13,389 | +€3,260 | +32.2% |
| Gross operating margin | 9900 | €199,619 | €257,091 | +€57,472 | +28.8% |
| Operating profit (loss) | 9901 | €165,020 | €167,881 | +€2,861 | +1.7% |
| Financial income | 75/76B | €677 | €434 | -€243 | -35.9% |
| Recurring financial income | 75 | €677 | €434 | -€243 | -35.9% |
| Financial charges | 65/66B | €79 | €479 | +€400 | +509% |
| Recurring financial charges | 65 | €79 | €479 | +€400 | +509% |
| Profit (loss) for the period before taxes | 9903 | €165,618 | €167,836 | +€2,218 | +1.3% |
| Income taxes | 67/77 | €43,342 | €42,631 | -€711 | -1.6% |
| Profit (loss) for the period | 9904 | €122,276 | €125,205 | +€2,929 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,276 | €125,205 | +€2,929 | +2.4% |
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 26 October 2026 via checked.be.