E.C.A.: what changed
E.C.A.
Largest movements
- Cash +€66,509
up €66,509 (+79.4%), from €83,748 to €150,257
mainly Net result for the year (+€52,575) and Receivables within one year (+€20,109)
- Receivables within one year -€20,109
down €20,109 (-30.7%), from €65,416 to €45,307
of which Other amounts receivable: -€14,889
- Receivables after one year -€7,937
down €7,937 (-8.0%), from €99,461 to €91,524
- Reserves +€52,575
up €52,575 (+27.8%), from €189,205 to €241,780
- Other debts -€24,248
no longer reported in 2025 (was €24,248)
- Tax, wage and social debts +€4,241
up €4,241 (+25.1%), from €16,908 to €21,149
of which Taxes: +€3,473
- Trade debts +€3,814
up €3,814 (+84.4%), from €4,521 to €8,334
- Gross operating margin +€13,651
up €13,651 (+12.0%), from €113,503 to €127,154
- Depreciation -€6,138
down €6,138 (-75.2%), from €8,162 to €2,025
- Financial income -€4,266
down €4,266 (-56.1%), from €7,607 to €3,341
- Taxes +€3,776
up €3,776 (+16.3%), from €23,228 to €27,004
- Staff costs +€2,501
up €2,501 (+5.7%), from €44,136 to €46,637
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €255,911 | €291,263 | +€35,352 | +13.8% |
| Fixed assets | 21/28 | €4,737 | €3,191 | -€1,545 | -32.6% |
| Tangible fixed assets | 22/27 | €4,532 | €2,986 | -€1,545 | -34.1% |
| Furniture and vehicles | 24 | €4,532 | €2,986 | -€1,545 | -34.1% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €251,174 | €288,071 | +€36,897 | +14.7% |
| Amounts receivable after more than one year | 29 | €99,461 | €91,524 | -€7,937 | -8.0% |
| Other amounts receivable | 291 | €99,461 | €91,524 | -€7,937 | -8.0% |
| Amounts receivable within one year | 40/41 | €65,416 | €45,307 | -€20,109 | -30.7% |
| Trade receivables | 40 | €50,527 | €45,307 | -€5,220 | -10.3% |
| Other amounts receivable | 41 | €14,889 | - | -€14,889 | |
| Cash at bank and in hand | 54/58 | €83,748 | €150,257 | +€66,509 | +79.4% |
| Deferred charges and accrued income | 490/1 | €2,549 | €983 | -€1,566 | -61.4% |
| Total equity and liabilities | 10/49 | €255,911 | €291,263 | +€35,352 | +13.8% |
| Equity | 10/15 | €209,205 | €261,780 | +€52,575 | +25.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €189,205 | €241,780 | +€52,575 | +27.8% |
| Distributable reserves | 133 | €189,205 | €241,780 | +€52,575 | +27.8% |
| Amounts payable | 17/49 | €46,706 | €29,483 | -€17,223 | -36.9% |
| Amounts payable within one year | 42/48 | €45,677 | €29,483 | -€16,194 | -35.5% |
| Trade debts | 44 | €4,521 | €8,334 | +€3,814 | +84.4% |
| Suppliers | 440/4 | €4,521 | €8,334 | +€3,814 | +84.4% |
| Taxes, remuneration and social security | 45 | €16,908 | €21,149 | +€4,241 | +25.1% |
| Taxes | 450/3 | €10,160 | €13,633 | +€3,473 | +34.2% |
| Remuneration and social security | 454/9 | €6,748 | €7,516 | +€768 | +11.4% |
| Other amounts payable | 47/48 | €24,248 | - | -€24,248 | |
| Accrued charges and deferred income | 492/3 | €1,029 | - | -€1,029 | |
| Remuneration, social security and pensions | 62 | €44,136 | €46,637 | +€2,501 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,162 | €2,025 | -€6,138 | -75.2% |
| Other operating charges | 640/8 | €1,222 | €1,290 | +€68 | +5.5% |
| Gross operating margin | 9900 | €113,503 | €127,154 | +€13,651 | +12.0% |
| Operating profit (loss) | 9901 | €59,982 | €77,203 | +€17,220 | +28.7% |
| Financial income | 75/76B | €7,607 | €3,341 | -€4,266 | -56.1% |
| Recurring financial income | 75 | €7,607 | €3,341 | -€4,266 | -56.1% |
| Financial charges | 65/66B | €982 | €965 | -€17 | -1.7% |
| Recurring financial charges | 65 | €982 | €965 | -€17 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €66,607 | €79,579 | +€12,972 | +19.5% |
| Income taxes | 67/77 | €23,228 | €27,004 | +€3,776 | +16.3% |
| Profit (loss) for the period | 9904 | €43,379 | €52,575 | +€9,196 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €43,379 | €52,575 | +€9,196 | +21.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.