E.B.O.: 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.B.O.
Largest movements
- Tangible fixed assets -€4,868
down €4,868 (-10.9%), from €44,846 to €39,978
of which Land and buildings: -€4,819
- Cash -€4,369
down €4,369 (-4.0%), from €108,721 to €104,352
mainly Contributions, distributions and other (-€29,400) and Trade debts (-€1,039)
- Reserves -€9,961
down €9,961 (-8.2%), from €121,700 to €111,739
- Debts after one year +€1,845
up €1,845 (+17.0%), from €10,825 to €12,670
- Gross operating margin +€8,088
up €8,088 (+29.4%), from €27,483 to €35,570
- Taxes +€2,023
up €2,023 (+27.9%), from €7,264 to €9,288
- Depreciation +€1,275
up €1,275 (+35.5%), from €3,593 to €4,868
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 | €154,136 | €145,189 | -€8,948 | -5.8% |
| Fixed assets | 21/28 | €44,846 | €39,978 | -€4,868 | -10.9% |
| Tangible fixed assets | 22/27 | €44,846 | €39,978 | -€4,868 | -10.9% |
| Land and buildings | 22 | €44,797 | €39,978 | -€4,819 | -10.8% |
| Plant, machinery and equipment | 23 | €49 | - | -€49 | |
| Current assets | 29/58 | €109,290 | €105,210 | -€4,080 | -3.7% |
| Amounts receivable within one year | 40/41 | - | €200 | +€200 | |
| Trade receivables | 40 | - | €200 | +€200 | |
| Cash at bank and in hand | 54/58 | €108,721 | €104,352 | -€4,369 | -4.0% |
| Deferred charges and accrued income | 490/1 | €569 | €659 | +€89 | +15.7% |
| Total equity and liabilities | 10/49 | €154,136 | €145,189 | -€8,948 | -5.8% |
| Equity | 10/15 | €140,321 | €130,360 | -€9,961 | -7.1% |
| Contributions | 10/11 | €18,620 | €18,620 | = | 0.0% |
| Reserves | 13 | €121,700 | €111,739 | -€9,961 | -8.2% |
| Distributable reserves | 133 | €121,700 | €111,739 | -€9,961 | -8.2% |
| Amounts payable | 17/49 | €13,816 | €14,829 | +€1,013 | +7.3% |
| Amounts payable after more than one year | 17 | €10,825 | €12,670 | +€1,845 | +17.0% |
| Other amounts payable | 178/9 | €10,825 | €12,670 | +€1,845 | +17.0% |
| Amounts payable within one year | 42/48 | €2,991 | €2,159 | -€832 | -27.8% |
| Trade debts | 44 | €1,148 | €108 | -€1,039 | -90.6% |
| Suppliers | 440/4 | €1,148 | €108 | -€1,039 | -90.6% |
| Taxes, remuneration and social security | 45 | €1,089 | €1,219 | +€130 | +11.9% |
| Taxes | 450/3 | €1,089 | €1,219 | +€130 | +11.9% |
| Other amounts payable | 47/48 | €754 | €832 | +€77 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,593 | €4,868 | +€1,275 | +35.5% |
| Other operating charges | 640/8 | €2,223 | €2,379 | +€156 | +7.0% |
| Gross operating margin | 9900 | €27,483 | €35,570 | +€8,088 | +29.4% |
| Operating profit (loss) | 9901 | €21,667 | €28,323 | +€6,657 | +30.7% |
| Financial income | 75/76B | €585 | €526 | -€59 | -10.1% |
| Recurring financial income | 75 | €585 | €526 | -€59 | -10.1% |
| Financial charges | 65/66B | €104 | €122 | +€18 | +17.2% |
| Recurring financial charges | 65 | €104 | €122 | +€18 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €22,147 | €28,727 | +€6,580 | +29.7% |
| Income taxes | 67/77 | €7,264 | €9,288 | +€2,023 | +27.9% |
| Profit (loss) for the period | 9904 | €14,883 | €19,439 | +€4,556 | +30.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,883 | €19,439 | +€4,556 | +30.6% |
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.