E.C. BELGIUM: what changed
What changed
E.C. BELGIUM
NACE 82.100, Office administrative and support services
filed annual accounts (NBB)
Net result for the year
-€12,012
2024 · -€8,681-€3,331
Equity
€61,379
2024 · €73,391-€12,012
Cash
€1,238
2024 · €5+€1,232
Balance sheet total
€175,626
2024 · €168,830+€6,795
Largest movements
Assets
- Receivables within one year +€15,818
up €15,818 (+12.8%), from €123,365 to €139,182
of which Trade receivables: +€18,557
- Tangible fixed assets -€10,050
down €10,050 (-53.6%), from €18,755 to €8,705
of which Plant, machinery and equipment: -€13,154
Equity and liabilities
- Other debts +€60,634
up €60,634 (+328%), from €18,459 to €79,094
- Current portion of long-term debt -€25,000
no longer reported in 2025 (was €25,000)
- Trade debts -€16,611
down €16,611 (-54.6%), from €30,402 to €13,791
- Profit (loss) carried forward -€12,012
down €12,012, from €4,091 to -€7,921
Income statement
- Gross operating margin -€15,458
down €15,458 (-27.1%), from €57,047 to €41,589
- Depreciation -€14,853
down €14,853 (-51.7%), from €28,751 to €13,898
- Staff costs +€1,944
up €1,944 (+5.4%), from €36,104 to €38,048
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.
Result 2024
-€8,681
Gross operating margin
-€15,458
Staff costs
-€1,944
Depreciation
+€14,853
Other operating charges
-€230
Financial income
-€91
Financial charges
-€455
Taxes
-€6
Result 2025
-€12,012
raises the resultlowers the result
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.
From operations
+€30,080
Investment
-€3,847
Financing
-€25,000
Cash 2024
€5
From operations (derived)
+€30,080
Net result for the year
-€12,012
Depreciation
+€13,898
Stocks and contracts
+€204
Receivables within one year
-€15,818
Trade debts
-€16,611
Tax, wage and social debts
-€231
Other debts
+€60,634
Accrued charges and deferred income
+€15
Investment (derived)
-€3,847
Investment in fixed assets (net)
-€3,847
Financing
-€25,000
Current portion of long-term debt
-€25,000
Cash 2025
€1,238
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €168,830 | €175,626 | +€6,795 | +4.0% |
| Fixed assets | 21/28 | €27,445 | €17,395 | -€10,050 | -36.6% |
| Tangible fixed assets | 22/27 | €18,755 | €8,705 | -€10,050 | -53.6% |
| Plant, machinery and equipment | 23 | €18,331 | €5,177 | -€13,154 | -71.8% |
| Furniture and vehicles | 24 | €424 | €17 | -€407 | -96.0% |
| Other tangible fixed assets | 26 | - | €3,511 | +€3,511 | |
| Financial fixed assets | 28 | €8,690 | €8,690 | = | 0.0% |
| Current assets | 29/58 | €141,385 | €158,231 | +€16,846 | +11.9% |
| Stocks and contracts in progress | 3 | €18,015 | €17,811 | -€204 | -1.1% |
| Stocks | 30/36 | €18,015 | €17,811 | -€204 | -1.1% |
| Amounts receivable within one year | 40/41 | €123,365 | €139,182 | +€15,818 | +12.8% |
| Trade receivables | 40 | €120,625 | €139,182 | +€18,557 | +15.4% |
| Other amounts receivable | 41 | €2,739 | - | -€2,739 | |
| Cash at bank and in hand | 54/58 | €5 | €1,238 | +€1,232 | +23,701% |
| Total equity and liabilities | 10/49 | €168,830 | €175,626 | +€6,795 | +4.0% |
| Equity | 10/15 | €73,391 | €61,379 | -€12,012 | -16.4% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €6,300 | €6,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,091 | -€7,921 | -€12,012 | |
| Amounts payable | 17/49 | €95,440 | €114,247 | +€18,807 | +19.7% |
| Amounts payable within one year | 42/48 | €95,440 | €114,232 | +€18,792 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €30,402 | €13,791 | -€16,611 | -54.6% |
| Suppliers | 440/4 | €30,402 | €13,791 | -€16,611 | -54.6% |
| Taxes, remuneration and social security | 45 | €21,578 | €21,347 | -€231 | -1.1% |
| Taxes | 450/3 | €9,387 | €11,522 | +€2,135 | +22.7% |
| Remuneration and social security | 454/9 | €12,191 | €9,825 | -€2,366 | -19.4% |
| Other amounts payable | 47/48 | €18,459 | €79,094 | +€60,634 | +328% |
| Accrued charges and deferred income | 492/3 | - | €15 | +€15 | |
| Remuneration, social security and pensions | 62 | €36,104 | €38,048 | +€1,944 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,751 | €13,898 | -€14,853 | -51.7% |
| Other operating charges | 640/8 | €480 | €710 | +€230 | +47.9% |
| Gross operating margin | 9900 | €57,047 | €41,589 | -€15,458 | -27.1% |
| Operating profit (loss) | 9901 | -€8,288 | -€11,066 | -€2,779 | -33.5% |
| Financial income | 75/76B | €119 | €28 | -€91 | -76.8% |
| Recurring financial income | 75 | €119 | €28 | -€91 | -76.8% |
| Financial charges | 65/66B | €360 | €815 | +€455 | +126% |
| Recurring financial charges | 65 | €360 | €815 | +€455 | +126% |
| Profit (loss) for the period before taxes | 9903 | -€8,529 | -€11,854 | -€3,325 | -39.0% |
| Income taxes | 67/77 | €152 | €158 | +€6 | +3.8% |
| Profit (loss) for the period | 9904 | -€8,681 | -€12,012 | -€3,331 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,681 | -€12,012 | -€3,331 | -38.4% |
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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 2 November 2026 via checked.be.