E&C Group: what changed
What changed
E&C Group
NACE 73.200, Market research and public opinion polling
filed annual accounts (NBB)
Net result for the year
€918,700
2024 · €494,353+€424,347
Equity
€2.0m
2024 · €1.1m+€918,700
Cash
€365,138
2024 · €344,273+€20,865
Balance sheet total
€8.4m
2024 · €8.1m+€318,584
Largest movements
Assets
- Intangible fixed assets +€336,536
up €336,536 (+9.6%), from €3.5m to €3.8m
- Financial fixed assets +€228,703
up €228,703 (+24.1%), from €948,626 to €1.2m
of which Affiliated companies: +€231,901
- Deferred charges and accrued income -€211,207
down €211,207 (-26.1%), from €808,458 to €597,251
- Receivables after one year -€148,646
down €148,646 (-93.6%), from €158,773 to €10,127
- Receivables within one year +€143,061
up €143,061 (+6.3%), from €2.3m to €2.4m
of which Trade receivables: +€122,915
Equity and liabilities
- Accrued charges and deferred income +€1.3m
up €1.3m (+43.0%), from €3.0m to €4.3m
- Trade debts -€1.1m
down €1.1m (-76.8%), from €1.4m to €334,547
- Reserves +€918,700
up €918,700 (+156%), from €587,508 to €1.5m
- Short-term financial debts -€538,805
down €538,805 (-42.0%), from €1.3m to €743,849
- Debts after one year -€263,557
down €263,557 (-31.4%), from €838,661 to €575,103
of which Other amounts payable: -€206,562
Income statement
- Turnover +€1.3m
up €1.3m (+10.3%), from €12.5m to €13.8m
- Services and other goods +€344,538
up €344,538 (+3.3%), from €10.5m to €10.8m
- Other operating income -€227,602
down €227,602 (-81.8%), from €278,258 to €50,656
- Depreciation +€151,967
up €151,967 (+21.6%), from €705,157 to €857,124
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
€494,353
Turnover
+€1.3m
Other operating income
-€227,602
Services and other goods
-€344,538
Staff costs
+€15,635
Depreciation
-€151,967
Write-downs
-€35,900
Other operating charges
-€2,312
Other operating items
-€72,724
Financial income
-€19,993
Financial charges
-€32,702
Taxes
+€3,898
Result 2025
€918,700
raises the resultlowers the resultnot broken down further in the accounts
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
+€2.2m
Investment
-€1.4m
Financing
-€819,081
Cash 2024
€344,273
From operations (derived)
+€2.2m
Net result for the year
+€918,700
Depreciation
+€857,124
Receivables after one year
+€148,646
Receivables within one year
-€143,061
Deferred charges and accrued income
+€211,207
Trade debts
-€1.1m
Tax, wage and social debts
+€21,388
Other debts
-€2,265
Accrued charges and deferred income
+€1.3m
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
-€819,081
Debts after one year
-€263,557
Current portion of long-term debt
-€16,719
Short-term financial debts
-€538,805
Cash 2025
€365,138
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,124,290 | €8,442,874 | +€318,584 | +3.9% |
| Fixed assets | 21/28 | €4,559,585 | €5,074,097 | +€514,512 | +11.3% |
| Intangible fixed assets | 21 | €3,490,495 | €3,827,030 | +€336,536 | +9.6% |
| Tangible fixed assets | 22/27 | €120,464 | €69,737 | -€50,727 | -42.1% |
| Plant, machinery and equipment | 23 | €4,145 | €3,667 | -€477 | -11.5% |
| Furniture and vehicles | 24 | €37,542 | €10,295 | -€27,248 | -72.6% |
| Leasing and similar rights | 25 | €48,947 | €30,742 | -€18,206 | -37.2% |
| Other tangible fixed assets | 26 | €29,830 | €25,033 | -€4,797 | -16.1% |
| Financial fixed assets | 28 | €948,626 | €1,177,330 | +€228,703 | +24.1% |
| Affiliated companies | 280/1 | €937,328 | €1,169,229 | +€231,901 | +24.7% |
| Participating interests | 280 | €456,897 | €456,897 | = | 0.0% |
| Amounts receivable | 281 | €480,431 | €712,331 | +€231,901 | +48.3% |
| Companies linked by participating interests | 282/3 | €3,030 | €0 | -€3,030 | -100% |
| Participating interests | 282 | €780 | €0 | -€780 | -100% |
| Amounts receivable | 283 | €2,250 | €0 | -€2,250 | -100% |
| Other financial fixed assets | 284/8 | €8,268 | €8,101 | -€167 | -2.0% |
| Amounts receivable and cash guarantees | 285/8 | €8,268 | €8,101 | -€167 | -2.0% |
| Current assets | 29/58 | €3,564,705 | €3,368,777 | -€195,928 | -5.5% |
| Amounts receivable after more than one year | 29 | €158,773 | €10,127 | -€148,646 | -93.6% |
| Other amounts receivable | 291 | €158,773 | €10,127 | -€148,646 | -93.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,253,200 | €2,396,261 | +€143,061 | +6.3% |
| Trade receivables | 40 | €2,252,798 | €2,375,713 | +€122,915 | +5.5% |
| Other amounts receivable | 41 | €402 | €20,548 | +€20,145 | +5,008% |
| Cash at bank and in hand | 54/58 | €344,273 | €365,138 | +€20,865 | +6.1% |
| Deferred charges and accrued income | 490/1 | €808,458 | €597,251 | -€211,207 | -26.1% |
| Total equity and liabilities | 10/49 | €8,124,290 | €8,442,874 | +€318,584 | +3.9% |
| Equity | 10/15 | €1,096,808 | €2,015,508 | +€918,700 | +83.8% |
| Contributions | 10/11 | €509,300 | €509,300 | = | 0.0% |
| Reserves | 13 | €587,508 | €1,506,208 | +€918,700 | +156% |
| Distributable reserves | 133 | €587,508 | €1,506,208 | +€918,700 | +156% |
| Amounts payable | 17/49 | €7,027,482 | €6,427,365 | -€600,116 | -8.5% |
| Amounts payable after more than one year | 17 | €838,661 | €575,103 | -€263,557 | -31.4% |
| Financial debts | 170/4 | €83,908 | €26,913 | -€56,995 | -67.9% |
| Leasing and similar obligations | 172 | €30,766 | €15,321 | -€15,446 | -50.2% |
| Credit institutions | 173 | €53,141 | €11,592 | -€41,549 | -78.2% |
| Other amounts payable | 178/9 | €754,753 | €548,191 | -€206,562 | -27.4% |
| Amounts payable within one year | 42/48 | €3,152,150 | €1,508,795 | -€1.6m | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €73,714 | €56,995 | -€16,719 | -22.7% |
| Financial debts | 43 | €1,282,654 | €743,849 | -€538,805 | -42.0% |
| Credit institutions | 430/8 | €1,282,654 | €743,849 | -€538,805 | -42.0% |
| Trade debts | 44 | €1,441,502 | €334,547 | -€1.1m | -76.8% |
| Suppliers | 440/4 | €1,441,502 | €334,547 | -€1.1m | -76.8% |
| Taxes, remuneration and social security | 45 | €342,309 | €363,697 | +€21,388 | +6.2% |
| Taxes | 450/3 | €98,342 | €145,845 | +€47,502 | +48.3% |
| Remuneration and social security | 454/9 | €243,967 | €217,852 | -€26,114 | -10.7% |
| Other amounts payable | 47/48 | €11,972 | €9,707 | -€2,265 | -18.9% |
| Accrued charges and deferred income | 492/3 | €3,036,671 | €4,343,468 | +€1.3m | +43.0% |
| Operating income | 70/76A | €12,992,854 | €13,985,221 | +€992,367 | +7.6% |
| Turnover | 70 | €12,495,123 | €13,787,674 | +€1.3m | +10.3% |
| Own construction capitalised | 72 | €152,537 | €146,891 | -€5,646 | -3.7% |
| Other operating income | 74 | €278,258 | €50,656 | -€227,602 | -81.8% |
| Non-recurring operating income | 76A | €66,936 | €0 | -€66,936 | -100% |
| Operating charges | 60/66A | €13,140,073 | €13,659,296 | +€519,223 | +4.0% |
| Services and other goods | 61 | €10,492,376 | €10,836,914 | +€344,538 | +3.3% |
| Remuneration, social security and pensions | 62 | €1,918,727 | €1,903,091 | -€15,635 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €705,157 | €857,124 | +€151,967 | +21.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,655 | €49,555 | +€35,900 | +263% |
| Other operating charges | 640/8 | €10,158 | €12,470 | +€2,312 | +22.8% |
| Non-recurring operating charges | 66A | - | €142 | +€142 | |
| Operating profit (loss) | 9901 | -€147,218 | €325,925 | +€473,144 | |
| Financial income | 75/76B | €763,135 | €743,141 | -€19,993 | -2.6% |
| Recurring financial income | 75 | €763,135 | €743,141 | -€19,993 | -2.6% |
| Income from financial fixed assets | 750 | €749,306 | €696,818 | -€52,488 | -7.0% |
| Income from current assets | 751 | €6,279 | €0 | -€6,279 | -100% |
| Other financial income | 752/9 | €7,550 | €46,324 | +€38,774 | +514% |
| Financial charges | 65/66B | €115,955 | €148,656 | +€32,702 | +28.2% |
| Recurring financial charges | 65 | €115,955 | €148,656 | +€32,702 | +28.2% |
| Debt charges | 650 | €61,776 | €41,283 | -€20,492 | -33.2% |
| Other financial charges | 652/9 | €54,179 | €107,373 | +€53,194 | +98.2% |
| Profit (loss) for the period before taxes | 9903 | €499,962 | €920,411 | +€420,449 | +84.1% |
| Income taxes | 67/77 | €5,609 | €1,711 | -€3,898 | -69.5% |
| Taxes | 670/3 | €5,609 | €1,711 | -€3,898 | -69.5% |
| Profit (loss) for the period | 9904 | €494,353 | €918,700 | +€424,347 | +85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €494,353 | €918,700 | +€424,347 | +85.8% |
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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 5 November 2026 via checked.be.