E.A.W.: 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.W.
Largest movements
- Receivables within one year +€10,135
up €10,135 (+11.8%), from €85,590 to €95,725
of which Other amounts receivable: +€6,521
- Cash +€5,712
up €5,712 (+1479.1%), from €386 to €6,098
mainly Depreciation (+€17,427) and Tax, wage and social debts (+€13,924)
- Tangible fixed assets +€5,664
up €5,664 (+3.9%), from €144,550 to €150,214
of which Leasing and similar rights: +€11,169
- Tax, wage and social debts +€13,924
up €13,924 (+882.2%), from €1,578 to €15,502
of which Taxes: +€13,517
- Other debts +€5,262
up €5,262 (+15.7%), from €33,526 to €38,788
- Staff costs +€3,661
up €3,661, from €0 to €3,661
- Financial charges +€2,980
up €2,980 (+26.7%), from €11,146 to €14,126
- Gross operating margin +€2,144
up €2,144 (+6.0%), from €35,535 to €37,680
- Depreciation -€1,047
down €1,047 (-5.7%), from €18,475 to €17,427
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 | €501,655 | €524,823 | +€23,168 | +4.6% |
| Fixed assets | 21/28 | €380,267 | €386,294 | +€6,027 | +1.6% |
| Intangible fixed assets | 21 | €4,717 | €4,717 | = | 0.0% |
| Tangible fixed assets | 22/27 | €144,550 | €150,214 | +€5,664 | +3.9% |
| Land and buildings | 22 | €34,811 | €32,512 | -€2,299 | -6.6% |
| Plant, machinery and equipment | 23 | €4,417 | €5,423 | +€1,007 | +22.8% |
| Furniture and vehicles | 24 | €18,116 | €13,904 | -€4,213 | -23.3% |
| Leasing and similar rights | 25 | €87,206 | €98,375 | +€11,169 | +12.8% |
| Financial fixed assets | 28 | €231,000 | €231,363 | +€363 | +0.2% |
| Current assets | 29/58 | €121,388 | €138,528 | +€17,140 | +14.1% |
| Amounts receivable after more than one year | 29 | €33,523 | €34,072 | +€548 | +1.6% |
| Other amounts receivable | 291 | €33,523 | €34,072 | +€548 | +1.6% |
| Amounts receivable within one year | 40/41 | €85,590 | €95,725 | +€10,135 | +11.8% |
| Trade receivables | 40 | €2,131 | €5,745 | +€3,614 | +169.6% |
| Other amounts receivable | 41 | €83,459 | €89,980 | +€6,521 | +7.8% |
| Cash at bank and in hand | 54/58 | €386 | €6,098 | +€5,712 | +1479.1% |
| Deferred charges and accrued income | 490/1 | €1,889 | €2,634 | +€745 | +39.5% |
| Total equity and liabilities | 10/49 | €501,655 | €524,823 | +€23,168 | +4.6% |
| Equity | 10/15 | €317,427 | €317,435 | +€8 | 0.0% |
| Contributions | 10/11 | €389,800 | €389,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,373 | -€72,365 | +€8 | 0.0% |
| Amounts payable | 17/49 | €184,229 | €207,388 | +€23,160 | +12.6% |
| Amounts payable after more than one year | 17 | €86,870 | €90,696 | +€3,825 | +4.4% |
| Financial debts | 170/4 | €73,670 | €77,496 | +€3,825 | +5.2% |
| Other amounts payable | 178/9 | €13,200 | €13,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €97,358 | €116,693 | +€19,334 | +19.9% |
| Current portion of amounts payable after more than one year | 42 | €18,779 | €18,196 | -€584 | -3.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €43,475 | €44,206 | +€732 | +1.7% |
| Suppliers | 440/4 | €43,475 | €44,206 | +€732 | +1.7% |
| Taxes, remuneration and social security | 45 | €1,578 | €15,502 | +€13,924 | +882.2% |
| Taxes | 450/3 | €1,578 | €15,096 | +€13,517 | +856.4% |
| Remuneration and social security | 454/9 | - | €407 | +€407 | |
| Other amounts payable | 47/48 | €33,526 | €38,788 | +€5,262 | +15.7% |
| Non-recurring operating income | 76A | €0 | €24,144 | +€24,144 | |
| Remuneration, social security and pensions | 62 | €0 | €3,661 | +€3,661 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,475 | €17,427 | -€1,047 | -5.7% |
| Other operating charges | 640/8 | €2,100 | €2,463 | +€363 | +17.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €35,535 | €37,680 | +€2,144 | +6.0% |
| Operating profit (loss) | 9901 | €14,961 | €14,128 | -€833 | -5.6% |
| Financial income | 75/76B | €108 | €6 | -€102 | -94.6% |
| Recurring financial income | 75 | €108 | €6 | -€102 | -94.6% |
| Financial charges | 65/66B | €11,146 | €14,126 | +€2,980 | +26.7% |
| Recurring financial charges | 65 | €11,146 | €14,126 | +€2,980 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €3,923 | €8 | -€3,915 | -99.8% |
| Profit (loss) for the period | 9904 | €3,923 | €8 | -€3,915 | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,923 | €8 | -€3,915 | -99.8% |
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.