E-CHELON: what changed
Two fiscal 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-CHELON
Largest movements
- Tangible fixed assets -€24,941
down €24,941 (-46.1%), from €54,092 to €29,151
- Profit (loss) carried forward -€10,478
down €10,478 (-81.8%), from €12,802 to €2,324
- Debts after one year -€7,721
no longer reported in 2025 (was €7,721)
- Gross operating margin -€7,354
down €7,354 (-65.1%), from €11,299 to €3,945
- Financial income -€5,161
down €5,161 (-30.0%), from €17,217 to €12,057
- Depreciation -€530
down €530 (-2.1%), from €25,471 to €24,941
- Financial charges -€326
down €326 (-37.2%), from €876 to €550
- Taxes +€178
up €178 (+129.2%), from €138 to €316
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €349,257 | €324,594 | -€24,663 | -7.1% |
| Fixed assets | 21/28 | €54,092 | €29,151 | -€24,941 | -46.1% |
| Tangible fixed assets | 22/27 | €54,092 | €29,151 | -€24,941 | -46.1% |
| Furniture and vehicles | 24 | €54,092 | €29,151 | -€24,941 | -46.1% |
| Current assets | 29/58 | €295,165 | €295,444 | +€279 | +0.1% |
| Amounts receivable within one year | 40/41 | €253,870 | €253,784 | -€87 | 0.0% |
| Trade receivables | 40 | €26,886 | €37,459 | +€10,573 | +39.3% |
| Other amounts receivable | 41 | €226,984 | €216,324 | -€10,660 | -4.7% |
| Cash at bank and in hand | 54/58 | €39,704 | €40,468 | +€764 | +1.9% |
| Deferred charges and accrued income | 490/1 | €1,591 | €1,192 | -€399 | -25.1% |
| Total equity and liabilities | 10/49 | €349,257 | €324,594 | -€24,663 | -7.1% |
| Equity | 10/15 | €322,542 | €312,063 | -€10,478 | -3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €291,139 | €291,139 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €289,279 | €289,279 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,802 | €2,324 | -€10,478 | -81.8% |
| Amounts payable | 17/49 | €26,715 | €12,531 | -€14,184 | -53.1% |
| Amounts payable after more than one year | 17 | €7,721 | - | -€7,721 | |
| Financial debts | 170/4 | €7,721 | - | -€7,721 | |
| Amounts payable within one year | 42/48 | €18,995 | €12,363 | -€6,631 | -34.9% |
| Current portion of amounts payable after more than one year | 42 | €8,959 | €7,721 | -€1,238 | -13.8% |
| Trade debts | 44 | €2,558 | €631 | -€1,926 | -75.3% |
| Suppliers | 440/4 | €2,558 | €631 | -€1,926 | -75.3% |
| Taxes, remuneration and social security | 45 | €7,478 | €3,989 | -€3,490 | -46.7% |
| Taxes | 450/3 | €5,728 | €3,989 | -€1,740 | -30.4% |
| Remuneration and social security | 454/9 | €1,750 | - | -€1,750 | |
| Other amounts payable | 47/48 | - | €23 | +€23 | |
| Accrued charges and deferred income | 492/3 | - | €168 | +€168 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,471 | €24,941 | -€530 | -2.1% |
| Other operating charges | 640/8 | €652 | €673 | +€20 | +3.1% |
| Gross operating margin | 9900 | €11,299 | €3,945 | -€7,354 | -65.1% |
| Operating profit (loss) | 9901 | -€14,825 | -€21,669 | -€6,844 | -46.2% |
| Financial income | 75/76B | €17,217 | €12,057 | -€5,161 | -30.0% |
| Recurring financial income | 75 | €17,217 | €12,057 | -€5,161 | -30.0% |
| Financial charges | 65/66B | €876 | €550 | -€326 | -37.2% |
| Recurring financial charges | 65 | €876 | €550 | -€326 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €1,516 | -€10,162 | -€11,679 | |
| Income taxes | 67/77 | €138 | €316 | +€178 | +129.2% |
| Profit (loss) for the period | 9904 | €1,379 | -€10,478 | -€11,857 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,379 | -€10,478 | -€11,857 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.