E.C.B.O.: what changed
Two financial 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.B.O.
Largest movements
- Cash -€56,989
down €56,989 (-40.1%), from €142,046 to €85,057
mainly Provisions (-€65,948) and Debts after one year (-€12,884)
- Tangible fixed assets -€8,363
down €8,363 (-3.1%), from €269,409 to €261,046
- Receivables within one year +€8,212
new in 2025: €8,212
- Profit (loss) carried forward +€81,067
up €81,067, from -€34,626 to €46,441
- Reserves -€80,345
down €80,345 (-40.1%), from €200,295 to €119,950
of which Tax-exempt reserves: -€197,845
- Provisions -€65,948
no longer reported in 2025 (was €65,948)
- Other debts +€20,000
up €20,000 (+70.6%), from €28,346 to €48,346
- Debts after one year -€12,884
down €12,884 (-8.7%), from €148,875 to €135,990
- Taxes +€50,788
new in 2025: €50,788
- Gross operating margin +€1,060
up €1,060 (+42.9%), from -€2,469 to -€1,409
- Other operating charges -€695
down €695 (-36.3%), from €1,918 to €1,222
- Depreciation +€62
up €62 (+0.7%), from €9,476 to €9,538
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.
Derived cash bridge
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 | €447,383 | €389,032 | -€58,351 | -13.0% |
| Fixed assets | 21/28 | €304,801 | €295,263 | -€9,538 | -3.1% |
| Intangible fixed assets | 21 | €35,392 | €34,217 | -€1,175 | -3.3% |
| Tangible fixed assets | 22/27 | €269,409 | €261,046 | -€8,363 | -3.1% |
| Land and buildings | 22 | €269,409 | €261,046 | -€8,363 | -3.1% |
| Current assets | 29/58 | €142,582 | €93,769 | -€48,813 | -34.2% |
| Amounts receivable within one year | 40/41 | - | €8,212 | +€8,212 | |
| Other amounts receivable | 41 | - | €8,212 | +€8,212 | |
| Cash at bank and in hand | 54/58 | €142,046 | €85,057 | -€56,989 | -40.1% |
| Deferred charges and accrued income | 490/1 | €536 | €500 | -€36 | -6.7% |
| Total equity and liabilities | 10/49 | €447,383 | €389,032 | -€58,351 | -13.0% |
| Equity | 10/15 | €190,169 | €190,891 | +€722 | +0.4% |
| Contributions | 10/11 | €24,500 | €24,500 | = | 0.0% |
| Reserves | 13 | €200,295 | €119,950 | -€80,345 | -40.1% |
| Non-distributable reserves | 130/1 | €2,450 | €2,450 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,450 | €2,450 | = | 0.0% |
| Tax-exempt reserves | 132 | €197,845 | - | -€197,845 | |
| Distributable reserves | 133 | - | €117,500 | +€117,500 | |
| Profit (loss) carried forward | 14 | -€34,626 | €46,441 | +€81,067 | |
| Provisions and deferred taxes | 16 | €65,948 | - | -€65,948 | |
| Deferred taxes | 168 | €65,948 | - | -€65,948 | |
| Amounts payable | 17/49 | €191,266 | €198,141 | +€6,875 | +3.6% |
| Amounts payable after more than one year | 17 | €148,875 | €135,990 | -€12,884 | -8.7% |
| Financial debts | 170/4 | €148,875 | €135,990 | -€12,884 | -8.7% |
| Amounts payable within one year | 42/48 | €42,391 | €62,150 | +€19,759 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | €12,740 | €12,884 | +€144 | +1.1% |
| Trade debts | 44 | €1,305 | €920 | -€385 | -29.5% |
| Suppliers | 440/4 | €1,305 | €920 | -€385 | -29.5% |
| Other amounts payable | 47/48 | €28,346 | €48,346 | +€20,000 | +70.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,476 | €9,538 | +€62 | +0.7% |
| Other operating charges | 640/8 | €1,918 | €1,222 | -€695 | -36.3% |
| Gross operating margin | 9900 | -€2,469 | -€1,409 | +€1,060 | +42.9% |
| Operating profit (loss) | 9901 | -€13,863 | -€12,169 | +€1,694 | +12.2% |
| Financial charges | 65/66B | €2,268 | €2,269 | +€1 | 0.0% |
| Recurring financial charges | 65 | €2,268 | €2,269 | +€1 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,131 | -€14,438 | +€1,693 | +10.5% |
| Transfer from deferred taxes | 780 | €1,079 | €65,948 | +€64,870 | +6,013% |
| Income taxes | 67/77 | - | €50,788 | +€50,788 | |
| Profit (loss) for the period | 9904 | -€15,052 | €722 | +€15,774 | |
| Transfer from tax-exempt reserves | 789 | €3,236 | €197,845 | +€194,609 | +6,013% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,816 | €198,567 | +€210,383 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.