E.A.P.: 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.
E.A.P.
Largest movements
- Receivables within one year +€69,234
up €69,234 (+415.6%), from €16,660 to €85,895
of which Trade receivables: +€65,000
- Tangible fixed assets -€34,319
down €34,319 (-3.3%), from €1.0m to €1.0m
of which Land and buildings: -€30,056
- Reserves +€122,783
up €122,783 (+21.6%), from €568,324 to €691,106
of which Distributable reserves: +€129,994
- Other debts -€76,093
down €76,093 (-24.7%), from €308,029 to €231,936
- Debts after one year -€50,655
down €50,655 (-31.4%), from €161,408 to €110,753
- Tax, wage and social debts +€50,205
up €50,205 (+645.9%), from €7,773 to €57,977
- Gross operating margin +€68,843
up €68,843 (+43.7%), from €157,503 to €226,346
- Taxes +€20,776
up €20,776 (+78.3%), from €26,545 to €47,321
- Financial charges -€2,681
down €2,681 (-29.5%), from €9,085 to €6,404
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 | €1,300,930 | €1,339,075 | +€38,145 | +2.9% |
| Fixed assets | 21/28 | €1,043,564 | €1,009,245 | -€34,319 | -3.3% |
| Tangible fixed assets | 22/27 | €1,043,564 | €1,009,245 | -€34,319 | -3.3% |
| Land and buildings | 22 | €1,012,656 | €982,600 | -€30,056 | -3.0% |
| Plant, machinery and equipment | 23 | €30,908 | €26,645 | -€4,263 | -13.8% |
| Current assets | 29/58 | €257,366 | €329,830 | +€72,464 | +28.2% |
| Amounts receivable after more than one year | 29 | €229,900 | €229,900 | = | 0.0% |
| Other amounts receivable | 291 | €229,900 | €229,900 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €16,660 | €85,895 | +€69,234 | +415.6% |
| Trade receivables | 40 | €0 | €65,000 | +€65,000 | |
| Other amounts receivable | 41 | €16,660 | €20,895 | +€4,234 | +25.4% |
| Cash at bank and in hand | 54/58 | €3,447 | €9,437 | +€5,990 | +173.8% |
| Deferred charges and accrued income | 490/1 | €7,358 | €4,598 | -€2,760 | -37.5% |
| Total equity and liabilities | 10/49 | €1,300,930 | €1,339,075 | +€38,145 | +2.9% |
| Equity | 10/15 | €630,324 | €753,106 | +€122,783 | +19.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €568,324 | €691,106 | +€122,783 | +21.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €102,562 | €95,351 | -€7,211 | -7.0% |
| Distributable reserves | 133 | €459,562 | €589,556 | +€129,994 | +28.3% |
| Provisions and deferred taxes | 16 | €49,659 | €45,495 | -€4,164 | -8.4% |
| Deferred taxes | 168 | €49,659 | €45,495 | -€4,164 | -8.4% |
| Amounts payable | 17/49 | €620,947 | €540,473 | -€80,474 | -13.0% |
| Amounts payable after more than one year | 17 | €161,408 | €110,753 | -€50,655 | -31.4% |
| Financial debts | 170/4 | €161,408 | €110,753 | -€50,655 | -31.4% |
| Amounts payable within one year | 42/48 | €459,539 | €429,720 | -€29,819 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €49,968 | €50,655 | +€687 | +1.4% |
| Financial debts | 43 | €9,631 | €0 | -€9,631 | -100.0% |
| Credit institutions | 430/8 | €9,631 | €0 | -€9,631 | -100.0% |
| Trade debts | 44 | €84,139 | €89,152 | +€5,014 | +6.0% |
| Suppliers | 440/4 | €84,139 | €89,152 | +€5,014 | +6.0% |
| Taxes, remuneration and social security | 45 | €7,773 | €57,977 | +€50,205 | +645.9% |
| Taxes | 450/3 | €7,773 | €57,977 | +€50,205 | +645.9% |
| Other amounts payable | 47/48 | €308,029 | €231,936 | -€76,093 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,459 | €51,004 | -€454 | -0.9% |
| Other operating charges | 640/8 | €7,518 | €7,696 | +€178 | +2.4% |
| Gross operating margin | 9900 | €157,503 | €226,346 | +€68,843 | +43.7% |
| Operating profit (loss) | 9901 | €98,526 | €167,646 | +€69,119 | +70.2% |
| Financial income | 75/76B | €4,598 | €4,698 | +€100 | +2.2% |
| Recurring financial income | 75 | €4,598 | €4,698 | +€100 | +2.2% |
| Financial charges | 65/66B | €9,085 | €6,404 | -€2,681 | -29.5% |
| Recurring financial charges | 65 | €9,085 | €6,404 | -€2,681 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €94,039 | €165,940 | +€71,901 | +76.5% |
| Transfer from deferred taxes | 780 | €2,844 | €2,844 | = | 0.0% |
| Income taxes | 67/77 | €26,545 | €47,321 | +€20,776 | +78.3% |
| Profit (loss) for the period | 9904 | €70,337 | €121,463 | +€51,125 | +72.7% |
| Transfer from tax-exempt reserves | 789 | €8,532 | €8,532 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,869 | €129,994 | +€51,125 | +64.8% |
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 7 October 2026 via checked.be.