E.C.L.: 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.L.
Largest movements
- Tangible fixed assets -€31,125
down €31,125 (-10.7%), from €291,166 to €260,041
- Receivables within one year +€18,217
up €18,217 (+18.6%), from €97,940 to €116,157
of which Other amounts receivable: +€44,047
- Debts after one year -€34,399
down €34,399 (-22.9%), from €150,368 to €115,968
- Reserves +€19,000
up €19,000 (+16.9%), from €112,600 to €131,600
- Other debts +€17,688
up €17,688 (+149%), from €11,876 to €29,564
- Tax, wage and social debts -€8,786
down €8,786 (-41.1%), from €21,360 to €12,574
- Current portion of long-term debt -€6,273
down €6,273 (-11.3%), from €55,332 to €49,059
- Gross operating margin +€18,281
up €18,281 (+22.2%), from €82,264 to €100,544
- Taxes +€3,452
up €3,452 (+28.7%), from €12,031 to €15,483
- Financial charges -€1,593
down €1,593 (-20.1%), from €7,916 to €6,324
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 | €392,444 | €382,163 | -€10,281 | -2.6% |
| Fixed assets | 21/28 | €291,166 | €260,041 | -€31,125 | -10.7% |
| Tangible fixed assets | 22/27 | €291,166 | €260,041 | -€31,125 | -10.7% |
| Land and buildings | 22 | €229,169 | €217,624 | -€11,545 | -5.0% |
| Plant, machinery and equipment | 23 | €2,533 | €1,959 | -€574 | -22.7% |
| Furniture and vehicles | 24 | €34,757 | €20,357 | -€14,400 | -41.4% |
| Other tangible fixed assets | 26 | €24,706 | €20,100 | -€4,606 | -18.6% |
| Current assets | 29/58 | €101,278 | €122,122 | +€20,844 | +20.6% |
| Amounts receivable within one year | 40/41 | €97,940 | €116,157 | +€18,217 | +18.6% |
| Trade receivables | 40 | €84,970 | €59,140 | -€25,830 | -30.4% |
| Other amounts receivable | 41 | €12,970 | €57,017 | +€44,047 | +340% |
| Cash at bank and in hand | 54/58 | €3,132 | €5,041 | +€1,910 | +61.0% |
| Deferred charges and accrued income | 490/1 | €206 | €924 | +€718 | +348% |
| Total equity and liabilities | 10/49 | €392,444 | €382,163 | -€10,281 | -2.6% |
| Equity | 10/15 | €153,423 | €173,362 | +€19,939 | +13.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,000 | - | -€1,000 | |
| Other | 1109/19 | €1,000 | - | -€1,000 | |
| Reserves | 13 | €112,600 | €131,600 | +€19,000 | +16.9% |
| Distributable reserves | 133 | €112,600 | €131,600 | +€19,000 | +16.9% |
| Profit (loss) carried forward | 14 | €39,823 | €40,762 | +€939 | +2.4% |
| Amounts payable | 17/49 | €239,021 | €208,801 | -€30,220 | -12.6% |
| Amounts payable after more than one year | 17 | €150,368 | €115,968 | -€34,399 | -22.9% |
| Financial debts | 170/4 | €150,368 | €115,968 | -€34,399 | -22.9% |
| Amounts payable within one year | 42/48 | €88,653 | €91,843 | +€3,189 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €55,332 | €49,059 | -€6,273 | -11.3% |
| Trade debts | 44 | €85 | €646 | +€561 | +660% |
| Suppliers | 440/4 | €85 | €646 | +€561 | +660% |
| Taxes, remuneration and social security | 45 | €21,360 | €12,574 | -€8,786 | -41.1% |
| Taxes | 450/3 | €21,360 | €12,574 | -€8,786 | -41.1% |
| Other amounts payable | 47/48 | €11,876 | €29,564 | +€17,688 | +149% |
| Accrued charges and deferred income | 492/3 | - | €990 | +€990 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,889 | €31,125 | +€237 | +0.8% |
| Other operating charges | 640/8 | €1,881 | €1,840 | -€41 | -2.2% |
| Gross operating margin | 9900 | €82,264 | €100,544 | +€18,281 | +22.2% |
| Operating profit (loss) | 9901 | €49,494 | €67,578 | +€18,084 | +36.5% |
| Financial charges | 65/66B | €7,916 | €6,324 | -€1,593 | -20.1% |
| Recurring financial charges | 65 | €7,916 | €6,324 | -€1,593 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €41,578 | €61,255 | +€19,677 | +47.3% |
| Income taxes | 67/77 | €12,031 | €15,483 | +€3,452 | +28.7% |
| Profit (loss) for the period | 9904 | €29,547 | €45,772 | +€16,225 | +54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,547 | €45,772 | +€16,225 | +54.9% |
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 23 October 2026 via checked.be.