E.C.A.: 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.A.
Largest movements
- Tangible fixed assets -€27,524
down €27,524 (-2.6%), from €1.1m to €1.0m
of which Land and buildings: -€27,166
- Debts after one year -€58,638
down €58,638 (-9.6%), from €607,696 to €549,058
- Reserves +€38,292
up €38,292 (+13.4%), from €286,278 to €324,571
of which Distributable reserves: +€38,292
- Other debts -€28,617
down €28,617 (-67.9%), from €42,163 to €13,546
- Accrued charges and deferred income +€19,864
up €19,864 (+748.2%), from €2,655 to €22,519
- Financial income +€7,717
up €7,717 (+779.4%), from €990 to €8,707
- Financial charges -€6,013
down €6,013 (-15.0%), from €40,020 to €34,007
- Depreciation +€3,999
up €3,999 (+4.3%), from €93,611 to €97,610
- Taxes +€3,354
up €3,354 (+15.7%), from €21,425 to €24,779
- Gross operating margin +€2,647
up €2,647 (+1.2%), from €216,380 to €219,027
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 | €1,261,513 | €1,237,279 | -€24,234 | -1.9% |
| Fixed assets | 21/28 | €1,085,266 | €1,047,727 | -€37,539 | -3.5% |
| Tangible fixed assets | 22/27 | €1,075,250 | €1,047,727 | -€27,524 | -2.6% |
| Land and buildings | 22 | €1,074,892 | €1,047,727 | -€27,166 | -2.5% |
| Furniture and vehicles | 24 | €358 | €0 | -€358 | -100.0% |
| Financial fixed assets | 28 | €10,016 | €0 | -€10,016 | -100.0% |
| Current assets | 29/58 | €176,247 | €189,552 | +€13,305 | +7.5% |
| Current investments | 50/53 | - | €11,716 | +€11,716 | |
| Cash at bank and in hand | 54/58 | €174,436 | €175,966 | +€1,530 | +0.9% |
| Deferred charges and accrued income | 490/1 | €1,811 | €1,870 | +€59 | +3.3% |
| Total equity and liabilities | 10/49 | €1,261,513 | €1,237,279 | -€24,234 | -1.9% |
| Equity | 10/15 | €540,172 | €578,464 | +€38,292 | +7.1% |
| Contributions | 10/11 | €253,894 | €253,894 | = | 0.0% |
| Capital | 10 | €253,894 | €253,894 | = | 0.0% |
| Issued capital | 100 | €253,894 | €253,894 | = | 0.0% |
| Reserves | 13 | €286,278 | €324,571 | +€38,292 | +13.4% |
| Non-distributable reserves | 130/1 | €25,389 | €25,389 | = | 0.0% |
| Legal reserve | 130 | €25,389 | €25,389 | = | 0.0% |
| Distributable reserves | 133 | €260,889 | €299,182 | +€38,292 | +14.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €721,341 | €658,814 | -€62,527 | -8.7% |
| Amounts payable after more than one year | 17 | €607,696 | €549,058 | -€58,638 | -9.6% |
| Financial debts | 170/4 | €607,696 | €549,058 | -€58,638 | -9.6% |
| Amounts payable within one year | 42/48 | €110,990 | €87,237 | -€23,753 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €56,969 | €58,638 | +€1,669 | +2.9% |
| Trade debts | 44 | - | €2,012 | +€2,012 | |
| Suppliers | 440/4 | - | €2,012 | +€2,012 | |
| Taxes, remuneration and social security | 45 | €11,858 | €13,041 | +€1,183 | +10.0% |
| Taxes | 450/3 | €11,858 | €13,041 | +€1,183 | +10.0% |
| Other amounts payable | 47/48 | €42,163 | €13,546 | -€28,617 | -67.9% |
| Accrued charges and deferred income | 492/3 | €2,655 | €22,519 | +€19,864 | +748.2% |
| Non-recurring operating income | 76A | - | €1,809 | +€1,809 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,611 | €97,610 | +€3,999 | +4.3% |
| Other operating charges | 640/8 | €17,599 | €19,214 | +€1,616 | +9.2% |
| Gross operating margin | 9900 | €216,380 | €219,027 | +€2,647 | +1.2% |
| Operating profit (loss) | 9901 | €105,171 | €102,202 | -€2,968 | -2.8% |
| Financial income | 75/76B | €990 | €8,707 | +€7,717 | +779.4% |
| Recurring financial income | 75 | €990 | €8,707 | +€7,717 | +779.4% |
| Financial charges | 65/66B | €40,020 | €34,007 | -€6,013 | -15.0% |
| Recurring financial charges | 65 | €40,020 | €34,007 | -€6,013 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €66,140 | €76,902 | +€10,762 | +16.3% |
| Income taxes | 67/77 | €21,425 | €24,779 | +€3,354 | +15.7% |
| Profit (loss) for the period | 9904 | €44,715 | €52,123 | +€7,408 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,715 | €52,123 | +€7,408 | +16.6% |
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 4 October 2026 via checked.be.