E.C.: 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.C.
Largest movements
- Receivables within one year -€205
down €205 (-68.2%), from €300 to €96
of which Trade receivables: -€150
- Tangible fixed assets -€64
down €64 (-25.0%), from €256 to €192
of which Plant, machinery and equipment: -€64
- Cash -€13
down €13 (-41.9%), from €30 to €18
mainly Net result for the year (-€8,730)
- Profit (loss) carried forward -€8,730
down €8,730 (-12.6%), from -€69,094 to -€77,824
- Other debts +€8,448
up €8,448 (+281.2%), from €3,005 to €11,453
- Gross operating margin -€5,586
down €5,586 (-198.1%), from -€2,819 to -€8,404
- Financial charges -€166
down €166 (-53.9%), from €309 to €142
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 | €1,046 | €765 | -€282 | -26.9% |
| Fixed assets | 21/28 | €606 | €542 | -€64 | -10.6% |
| Tangible fixed assets | 22/27 | €256 | €192 | -€64 | -25.0% |
| Plant, machinery and equipment | 23 | €256 | €192 | -€64 | -25.0% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €440 | €223 | -€218 | -49.4% |
| Stocks and contracts in progress | 3 | €85 | €85 | = | 0.0% |
| Stocks | 30/36 | €85 | €85 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €300 | €96 | -€205 | -68.2% |
| Trade receivables | 40 | €150 | - | -€150 | |
| Other amounts receivable | 41 | €150 | €96 | -€55 | -36.5% |
| Cash at bank and in hand | 54/58 | €30 | €18 | -€13 | -41.9% |
| Deferred charges and accrued income | 490/1 | €25 | €25 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,046 | €765 | -€282 | -26.9% |
| Equity | 10/15 | -€45,691 | -€54,421 | -€8,730 | -19.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €4,811 | €4,811 | = | 0.0% |
| Non-distributable reserves | 130/1 | €589 | €589 | = | 0.0% |
| Reserves not available under the articles | 1311 | €589 | €589 | = | 0.0% |
| Distributable reserves | 133 | €4,222 | €4,222 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,094 | -€77,824 | -€8,730 | -12.6% |
| Amounts payable | 17/49 | €46,738 | €55,186 | +€8,448 | +18.1% |
| Amounts payable after more than one year | 17 | €43,733 | €43,733 | = | 0.0% |
| Other amounts payable | 178/9 | €43,733 | €43,733 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,005 | €11,453 | +€8,448 | +281.2% |
| Other amounts payable | 47/48 | €3,005 | €11,453 | +€8,448 | +281.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €64 | +€64 | |
| Other operating charges | 640/8 | €171 | €120 | -€51 | -29.9% |
| Gross operating margin | 9900 | -€2,819 | -€8,404 | -€5,586 | -198.1% |
| Operating profit (loss) | 9901 | -€2,990 | -€8,588 | -€5,598 | -187.2% |
| Financial income | 75/76B | €50 | €1 | -€49 | -98.9% |
| Recurring financial income | 75 | €50 | €1 | -€49 | -98.9% |
| Financial charges | 65/66B | €309 | €142 | -€166 | -53.9% |
| Recurring financial charges | 65 | €309 | €142 | -€166 | -53.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,249 | -€8,730 | -€5,482 | -168.7% |
| Profit (loss) for the period | 9904 | -€3,249 | -€8,730 | -€5,482 | -168.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,249 | -€8,730 | -€5,482 | -168.7% |
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 4 October 2026 via checked.be.