E-CONSOL: 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-CONSOL
Largest movements
- Cash -€139,462
down €139,462 (-70.8%), from €197,096 to €57,634
mainly Contributions, distributions and other (-€164,507) and Investment in fixed assets (net) (-€35,323)
- Tangible fixed assets +€18,491
up €18,491 (+8.8%), from €210,350 to €228,841
of which Furniture and vehicles: +€25,061
- Current investments -€16,022
down €16,022 (-13.5%), from €118,801 to €102,779
- Receivables within one year +€14,194
up €14,194 (+90.9%), from €15,615 to €29,809
of which Other amounts receivable: +€29,779
- Reserves -€114,346
down €114,346 (-30.8%), from €370,664 to €256,318
of which Distributable reserves: -€114,346
- Debts after one year -€10,254
down €10,254 (-27.6%), from €37,150 to €26,896
- Taxes -€30,169
down €30,169 (-55.6%), from €54,276 to €24,107
- Gross operating margin -€14,847
down €14,847 (-13.7%), from €108,756 to €93,908
- Financial income -€3,328
down €3,328 (-61.2%), from €5,439 to €2,112
- Other operating charges -€2,495
down €2,495 (-78.1%), from €3,193 to €698
- Depreciation +€1,853
up €1,853 (+12.4%), from €14,979 to €16,832
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 | €543,102 | €421,415 | -€121,687 | -22.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €210,350 | €228,841 | +€18,491 | +8.8% |
| Tangible fixed assets | 22/27 | €210,350 | €228,841 | +€18,491 | +8.8% |
| Land and buildings | 22 | €150,520 | €151,372 | +€852 | +0.6% |
| Plant, machinery and equipment | 23 | €3,676 | €1,748 | -€1,928 | -52.5% |
| Furniture and vehicles | 24 | €19,159 | €44,220 | +€25,061 | +131% |
| Leasing and similar rights | 25 | €1,739 | €1,765 | +€26 | +1.5% |
| Other tangible fixed assets | 26 | €35,256 | €29,737 | -€5,519 | -15.7% |
| Current assets | 29/58 | €332,752 | €192,573 | -€140,179 | -42.1% |
| Amounts receivable within one year | 40/41 | €15,615 | €29,809 | +€14,194 | +90.9% |
| Trade receivables | 40 | €15,585 | - | -€15,585 | |
| Other amounts receivable | 41 | €30 | €29,809 | +€29,779 | +99,263% |
| Current investments | 50/53 | €118,801 | €102,779 | -€16,022 | -13.5% |
| Cash at bank and in hand | 54/58 | €197,096 | €57,634 | -€139,462 | -70.8% |
| Deferred charges and accrued income | 490/1 | €1,240 | €2,350 | +€1,111 | +89.6% |
| Total equity and liabilities | 10/49 | €543,102 | €421,415 | -€121,687 | -22.4% |
| Equity | 10/15 | €445,836 | €331,490 | -€114,346 | -25.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €370,664 | €256,318 | -€114,346 | -30.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €77 | €77 | = | 0.0% |
| Distributable reserves | 133 | €368,727 | €254,381 | -€114,346 | -31.0% |
| Profit (loss) carried forward | 14 | €62,772 | €62,772 | = | 0.0% |
| Amounts payable | 17/49 | €97,265 | €89,924 | -€7,341 | -7.5% |
| Amounts payable after more than one year | 17 | €37,150 | €26,896 | -€10,254 | -27.6% |
| Financial debts | 170/4 | €37,150 | €26,896 | -€10,254 | -27.6% |
| Amounts payable within one year | 42/48 | €60,115 | €63,028 | +€2,913 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €10,061 | €10,215 | +€154 | +1.5% |
| Trade debts | 44 | €1,519 | €5,935 | +€4,416 | +291% |
| Suppliers | 440/4 | €1,519 | €5,935 | +€4,416 | +291% |
| Taxes, remuneration and social security | 45 | €47,008 | €44,619 | -€2,389 | -5.1% |
| Taxes | 450/3 | €47,008 | €44,619 | -€2,389 | -5.1% |
| Other amounts payable | 47/48 | €1,527 | €2,259 | +€731 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,979 | €16,832 | +€1,853 | +12.4% |
| Other operating charges | 640/8 | €3,193 | €698 | -€2,495 | -78.1% |
| Gross operating margin | 9900 | €108,756 | €93,908 | -€14,847 | -13.7% |
| Operating profit (loss) | 9901 | €90,584 | €76,379 | -€14,205 | -15.7% |
| Financial income | 75/76B | €5,439 | €2,112 | -€3,328 | -61.2% |
| Recurring financial income | 75 | €5,439 | €2,112 | -€3,328 | -61.2% |
| Financial charges | 65/66B | €4,759 | €4,223 | -€536 | -11.3% |
| Recurring financial charges | 65 | €4,759 | €4,223 | -€536 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €91,264 | €74,267 | -€16,996 | -18.6% |
| Income taxes | 67/77 | €54,276 | €24,107 | -€30,169 | -55.6% |
| Profit (loss) for the period | 9904 | €36,988 | €50,161 | +€13,172 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,988 | €50,161 | +€13,172 | +35.6% |
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 13 October 2026 via checked.be.