E.C.K.: 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.
What changed
E.C.K.
NACE 92.000, Gambling and betting activities
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€45.4m
2024 · €32.0m+€13.4m
Equity
€143.1m
2024 · €97.8m+€45.4m
Cash
€1.3m
2024 · €1.0m+€258,092
Balance sheet total
€181.5m
2024 · €131.1m+€50.5m
Largest movements
Assets
- Receivables within one year +€51.3m
up €51.3m (+42.2%), from €121.4m to €172.7m
of which Other amounts receivable: +€46.1m
Equity and liabilities
- Profit (loss) carried forward +€44.4m
up €44.4m (+48.9%), from €90.6m to €135.0m
- Tax, wage and social debts +€5.0m
up €5.0m (+32.6%), from €15.4m to €20.4m
of which Taxes: +€5.6m
- Other debts +€2.4m
up €2.4m (+128.9%), from €1.8m to €4.2m
- Trade debts -€2.1m
down €2.1m (-13.8%), from €15.2m to €13.1m
Income statement
- Turnover +€30.4m
up €30.4m (+25.5%), from €119.3m to €149.7m
- Other operating charges +€11.2m
up €11.2m (+36.9%), from €30.3m to €41.6m
- Taxes +€5.8m
up €5.8m (+34.7%), from €16.7m to €22.5m
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.
Result 2024
€32.0m
Turnover
+€30.4m
Other operating income
-€428,750
Goods and materials
+€1,112
Services and other goods
+€253,906
Staff costs
+€1.1m
Depreciation
-€89,123
Write-downs
-€4,583
Provisions
+€215,970
Other operating charges
-€11.2m
Other operating items
-€20,356
Financial income
-€167,966
Financial charges
-€930,204
Taxes
-€5.8m
Result 2025
€45.4m
Cash bridge derived
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.
From operations
+€733,720
Investment
-€475,628
Financing
€0
Cash 2024
€1.0m
From operations (derived)
+€733,720
Net result for the year
+€45.4m
Depreciation
+€1.5m
Smaller working-capital items
+€12,847
Receivables within one year
-€51.3m
Trade debts
-€2.1m
Tax, wage and social debts
+€5.0m
Other debts
+€2.4m
Accrued charges and deferred income
-€181,085
Investment (derived)
-€475,628
Investment in fixed assets (net)
-€475,628
Cash 2025
€1.3m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €131,082,805 | €181,544,556 | +€50.5m | +38.5% |
| Fixed assets | 21/28 | €8,477,620 | €7,421,734 | -€1.1m | -12.5% |
| Intangible fixed assets | 21 | €5,909,055 | €5,049,409 | -€859,646 | -14.5% |
| Tangible fixed assets | 22/27 | €2,068,565 | €1,872,325 | -€196,240 | -9.5% |
| Plant, machinery and equipment | 23 | €1,744,023 | €1,604,624 | -€139,398 | -8.0% |
| Furniture and vehicles | 24 | €222,616 | €164,702 | -€57,915 | -26.0% |
| Other tangible fixed assets | 26 | €101,926 | €102,999 | +€1,073 | +1.1% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €122,605,185 | €174,122,822 | +€51.5m | +42.0% |
| Stocks and contracts in progress | 3 | €76,905 | €66,296 | -€10,609 | -13.8% |
| Stocks | 30/36 | €76,905 | €66,296 | -€10,609 | -13.8% |
| Raw materials and consumables | 30/31 | €7,843 | €6,558 | -€1,285 | -16.4% |
| Goods purchased for resale | 34 | €69,063 | €59,738 | -€9,324 | -13.5% |
| Amounts receivable within one year | 40/41 | €121,394,534 | €172,681,758 | +€51.3m | +42.2% |
| Trade receivables | 40 | €8,109,075 | €13,272,298 | +€5.2m | +63.7% |
| Other amounts receivable | 41 | €113,285,459 | €159,409,460 | +€46.1m | +40.7% |
| Cash at bank and in hand | 54/58 | €1,012,494 | €1,270,586 | +€258,092 | +25.5% |
| Deferred charges and accrued income | 490/1 | €121,252 | €104,182 | -€17,069 | -14.1% |
| Total equity and liabilities | 10/49 | €131,082,805 | €181,544,556 | +€50.5m | +38.5% |
| Equity | 10/15 | €97,784,158 | €143,135,413 | +€45.4m | +46.4% |
| Contributions | 10/11 | €1,050,162 | €1,050,162 | = | 0.0% |
| Capital | 10 | €1,050,000 | €1,050,000 | = | 0.0% |
| Issued capital | 100 | €1,050,000 | €1,050,000 | = | 0.0% |
| Contributions outside capital | 11 | €162 | €162 | = | 0.0% |
| Share premium | 1100/10 | €162 | €162 | = | 0.0% |
| Reserves | 13 | €6,108,755 | €7,106,525 | +€997,770 | +16.3% |
| Non-distributable reserves | 130/1 | €111,206 | €111,206 | = | 0.0% |
| Legal reserve | 130 | €111,206 | €111,206 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,997,549 | €4,356,247 | -€1.6m | -27.4% |
| Distributable reserves | 133 | - | €2,639,072 | +€2.6m | |
| Profit (loss) carried forward | 14 | €90,625,240 | €134,978,726 | +€44.4m | +48.9% |
| Provisions and deferred taxes | 16 | €213,160 | €210,350 | -€2,810 | -1.3% |
| Provisions for liabilities and charges | 160/5 | €213,160 | €210,350 | -€2,810 | -1.3% |
| Other liabilities and charges | 164/5 | €213,160 | €210,350 | -€2,810 | -1.3% |
| Amounts payable | 17/49 | €33,085,487 | €38,198,793 | +€5.1m | +15.5% |
| Amounts payable within one year | 42/48 | €32,434,782 | €37,729,174 | +€5.3m | +16.3% |
| Trade debts | 44 | €15,155,192 | €13,060,678 | -€2.1m | -13.8% |
| Suppliers | 440/4 | €15,155,192 | €13,060,678 | -€2.1m | -13.8% |
| Advances received on contracts in progress | 46 | €15,351 | €3,330 | -€12,021 | -78.3% |
| Taxes, remuneration and social security | 45 | €15,420,833 | €20,445,966 | +€5.0m | +32.6% |
| Taxes | 450/3 | €13,508,997 | €19,128,472 | +€5.6m | +41.6% |
| Remuneration and social security | 454/9 | €1,911,836 | €1,317,494 | -€594,342 | -31.1% |
| Other amounts payable | 47/48 | €1,843,407 | €4,219,200 | +€2.4m | +128.9% |
| Accrued charges and deferred income | 492/3 | €650,705 | €469,619 | -€181,085 | -27.8% |
| Operating income | 70/76A | €120,067,957 | €150,040,987 | +€30.0m | +25.0% |
| Turnover | 70 | €119,311,352 | €149,716,233 | +€30.4m | +25.5% |
| Other operating income | 74 | €753,504 | €324,754 | -€428,750 | -56.9% |
| Non-recurring operating income | 76A | €3,100 | - | -€3,100 | |
| Operating charges | 60/66A | €70,346,700 | €80,059,992 | +€9.7m | +13.8% |
| Goods for resale, raw materials and consumables | 60 | €499,941 | €498,829 | -€1,112 | -0.2% |
| Purchases | 600/8 | €547,711 | €488,219 | -€59,492 | -10.9% |
| Change in stocks: decrease (increase) | 609 | -€47,771 | €10,609 | +€58,380 | |
| Services and other goods | 61 | €33,046,606 | €32,792,701 | -€253,906 | -0.8% |
| Remuneration, social security and pensions | 62 | €4,788,466 | €3,651,036 | -€1.1m | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,442,390 | €1,531,513 | +€89,123 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,583 | - | +€4,583 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €213,160 | -€2,810 | -€215,970 | |
| Other operating charges | 640/8 | €30,346,688 | €41,557,436 | +€11.2m | +36.9% |
| Non-recurring operating charges | 66A | €14,031 | €31,287 | +€17,256 | +123.0% |
| Operating profit (loss) | 9901 | €49,721,257 | €69,980,995 | +€20.3m | +40.7% |
| Financial income | 75/76B | €2,401,568 | €2,233,602 | -€167,966 | -7.0% |
| Recurring financial income | 75 | €2,401,568 | €2,233,602 | -€167,966 | -7.0% |
| Income from financial fixed assets | 750 | - | €30,150 | +€30,150 | |
| Income from current assets | 751 | €2,365,050 | €2,176,229 | -€188,821 | -8.0% |
| Other financial income | 752/9 | €36,518 | €27,223 | -€9,295 | -25.5% |
| Financial charges | 65/66B | €3,422,746 | €4,352,951 | +€930,204 | +27.2% |
| Recurring financial charges | 65 | €3,422,746 | €4,352,951 | +€930,204 | +27.2% |
| Debt charges | 650 | €9,048 | €9,845 | +€796 | +8.8% |
| Other financial charges | 652/9 | €3,413,698 | €4,343,106 | +€929,408 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €48,700,079 | €67,861,646 | +€19.2m | +39.3% |
| Income taxes | 67/77 | €16,711,816 | €22,510,391 | +€5.8m | +34.7% |
| Taxes | 670/3 | €16,711,816 | €22,510,391 | +€5.8m | +34.7% |
| Profit (loss) for the period | 9904 | €31,988,263 | €45,351,255 | +€13.4m | +41.8% |
| Transfer from tax-exempt reserves | 789 | - | €2,639,072 | +€2.6m | |
| Transfer to tax-exempt reserves | 689 | €997,770 | €997,770 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,990,493 | €46,992,557 | +€16.0m | +51.6% |
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 12 October 2026 via checked.be.