E.C.J.: what changed
E.C.J.
Largest movements
- Receivables within one year -€29,754
down €29,754 (-41.1%), from €72,356 to €42,602
of which Trade receivables: -€31,980
- Cash -€19,492
down €19,492 (-32.4%), from €60,069 to €40,577
mainly Contributions, distributions and other (-€40,000) and Other debts (-€30,000)
- Tangible fixed assets -€2,659
down €2,659 (-62.5%), from €4,254 to €1,595
of which Furniture and vehicles: -€1,926
- Other debts -€30,000
down €30,000 (-42.9%), from €70,000 to €40,000
- Tax, wage and social debts -€8,055
down €8,055 (-82.5%), from €9,759 to €1,704
of which Taxes: -€8,055
- Trade debts -€5,566
down €5,566 (-62.9%), from €8,844 to €3,278
- Short-term financial debts -€4,701
down €4,701 (-55.6%), from €8,451 to €3,750
- Reserves -€3,582
down €3,582 (-17.0%), from €21,024 to €17,442
- Gross operating margin -€51,193
down €51,193 (-49.0%), from €104,427 to €53,235
- Taxes -€12,525
down €12,525 (-49.5%), from €25,291 to €12,766
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 | €136,679 | €84,774 | -€51,905 | -38.0% |
| Fixed assets | 21/28 | €4,254 | €1,595 | -€2,659 | -62.5% |
| Tangible fixed assets | 22/27 | €4,254 | €1,595 | -€2,659 | -62.5% |
| Plant, machinery and equipment | 23 | €1,627 | €894 | -€733 | -45.1% |
| Furniture and vehicles | 24 | €2,627 | €701 | -€1,926 | -73.3% |
| Current assets | 29/58 | €132,425 | €83,179 | -€49,246 | -37.2% |
| Amounts receivable within one year | 40/41 | €72,356 | €42,602 | -€29,754 | -41.1% |
| Trade receivables | 40 | €60,660 | €28,680 | -€31,980 | -52.7% |
| Other amounts receivable | 41 | €11,696 | €13,922 | +€2,226 | +19.0% |
| Cash at bank and in hand | 54/58 | €60,069 | €40,577 | -€19,492 | -32.4% |
| Total equity and liabilities | 10/49 | €136,679 | €84,774 | -€51,905 | -38.0% |
| Equity | 10/15 | €39,624 | €36,042 | -€3,582 | -9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,024 | €17,442 | -€3,582 | -17.0% |
| Distributable reserves | 133 | €21,024 | €17,442 | -€3,582 | -17.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €97,054 | €48,732 | -€48,323 | -49.8% |
| Amounts payable within one year | 42/48 | €97,054 | €48,732 | -€48,323 | -49.8% |
| Financial debts | 43 | €8,451 | €3,750 | -€4,701 | -55.6% |
| Credit institutions | 430/8 | €8,451 | €3,750 | -€4,701 | -55.6% |
| Trade debts | 44 | €8,844 | €3,278 | -€5,566 | -62.9% |
| Suppliers | 440/4 | €8,844 | €3,278 | -€5,566 | -62.9% |
| Taxes, remuneration and social security | 45 | €9,759 | €1,704 | -€8,055 | -82.5% |
| Taxes | 450/3 | €8,859 | €804 | -€8,055 | -90.9% |
| Remuneration and social security | 454/9 | €900 | €900 | = | 0.0% |
| Other amounts payable | 47/48 | €70,000 | €40,000 | -€30,000 | -42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,556 | €2,659 | -€897 | -25.2% |
| Other operating charges | 640/8 | €524 | €487 | -€37 | -7.0% |
| Gross operating margin | 9900 | €104,427 | €53,235 | -€51,193 | -49.0% |
| Operating profit (loss) | 9901 | €100,348 | €50,088 | -€50,260 | -50.1% |
| Financial income | 75/76B | €76 | €48 | -€28 | -36.4% |
| Recurring financial income | 75 | €76 | €48 | -€28 | -36.4% |
| Financial charges | 65/66B | €1,379 | €953 | -€426 | -30.9% |
| Recurring financial charges | 65 | €1,379 | €953 | -€426 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | €99,045 | €49,184 | -€49,861 | -50.3% |
| Income taxes | 67/77 | €25,291 | €12,766 | -€12,525 | -49.5% |
| Profit (loss) for the period | 9904 | €73,755 | €36,418 | -€37,337 | -50.6% |
| Profit (loss) for the period to be appropriated | 9905 | €73,755 | €36,418 | -€37,337 | -50.6% |
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 4 November 2026 via checked.be.