DR EBINGER: 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.
DR EBINGER
Largest movements
- Receivables within one year +€111,471
up €111,471 (+34.8%), from €320,294 to €431,765
- Deferred charges and accrued income -€28,253
down €28,253 (-24.2%), from €116,559 to €88,306
- Tangible fixed assets -€10,575
down €10,575 (-45.7%), from €23,119 to €12,545
- Intangible fixed assets -€10,400
down €10,400 (-28.6%), from €36,400 to €26,000
- Cash +€10,058
up €10,058 (+18.3%), from €54,937 to €64,995
mainly Net result for the year (+€153,678) and Deferred charges and accrued income (+€28,253)
- Reserves +€128,514
up €128,514 (+41.9%), from €306,586 to €435,099
of which Distributable reserves: +€128,514
- Profit (loss) carried forward -€26,339
no longer reported in 2025 (was €26,339)
- Tax, wage and social debts -€22,046
down €22,046 (-12.1%), from €182,320 to €160,274
- Debts after one year -€10,786
down €10,786 (-85.6%), from €12,595 to €1,809
- Gross operating margin -€32,595
down €32,595 (-12.4%), from €262,209 to €229,615
- Taxes -€8,263
down €8,263 (-10.1%), from €81,500 to €73,237
- Financial charges -€3,529
down €3,529 (-71.3%), from €4,951 to €1,423
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 | €551,310 | €623,611 | +€72,301 | +13.1% |
| Fixed assets | 21/28 | €59,519 | €38,545 | -€20,975 | -35.2% |
| Intangible fixed assets | 21 | €36,400 | €26,000 | -€10,400 | -28.6% |
| Tangible fixed assets | 22/27 | €23,119 | €12,545 | -€10,575 | -45.7% |
| Furniture and vehicles | 24 | €23,119 | €12,545 | -€10,575 | -45.7% |
| Current assets | 29/58 | €491,791 | €585,066 | +€93,275 | +19.0% |
| Amounts receivable within one year | 40/41 | €320,294 | €431,765 | +€111,471 | +34.8% |
| Other amounts receivable | 41 | €320,294 | €431,765 | +€111,471 | +34.8% |
| Cash at bank and in hand | 54/58 | €54,937 | €64,995 | +€10,058 | +18.3% |
| Deferred charges and accrued income | 490/1 | €116,559 | €88,306 | -€28,253 | -24.2% |
| Total equity and liabilities | 10/49 | €551,310 | €623,611 | +€72,301 | +13.1% |
| Equity | 10/15 | €345,325 | €447,499 | +€102,175 | +29.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €306,586 | €435,099 | +€128,514 | +41.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €304,726 | €433,239 | +€128,514 | +42.2% |
| Profit (loss) carried forward | 14 | €26,339 | - | -€26,339 | |
| Amounts payable | 17/49 | €205,985 | €176,111 | -€29,874 | -14.5% |
| Amounts payable after more than one year | 17 | €12,595 | €1,809 | -€10,786 | -85.6% |
| Financial debts | 170/4 | €12,595 | €1,809 | -€10,786 | -85.6% |
| Amounts payable within one year | 42/48 | €193,391 | €174,302 | -€19,088 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €10,669 | €10,786 | +€116 | +1.1% |
| Trade debts | 44 | €401 | €3,243 | +€2,842 | +708.5% |
| Suppliers | 440/4 | €401 | €3,243 | +€2,842 | +708.5% |
| Taxes, remuneration and social security | 45 | €182,320 | €160,274 | -€22,046 | -12.1% |
| Taxes | 450/3 | €182,320 | €160,274 | -€22,046 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,975 | €20,975 | = | 0.0% |
| Other operating charges | 640/8 | €632 | €1,050 | +€418 | +66.2% |
| Gross operating margin | 9900 | €262,209 | €229,615 | -€32,595 | -12.4% |
| Operating profit (loss) | 9901 | €240,603 | €207,590 | -€33,013 | -13.7% |
| Financial income | 75/76B | €20,268 | €20,747 | +€479 | +2.4% |
| Recurring financial income | 75 | €20,268 | €20,747 | +€479 | +2.4% |
| Financial charges | 65/66B | €4,951 | €1,423 | -€3,529 | -71.3% |
| Recurring financial charges | 65 | €4,951 | €1,423 | -€3,529 | -71.3% |
| Profit (loss) for the period before taxes | 9903 | €255,919 | €226,914 | -€29,005 | -11.3% |
| Income taxes | 67/77 | €81,500 | €73,237 | -€8,263 | -10.1% |
| Profit (loss) for the period | 9904 | €174,420 | €153,678 | -€20,742 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €174,420 | €153,678 | -€20,742 | -11.9% |
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 2 October 2026 via checked.be.