E&D: 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&D
Largest movements
- Tangible fixed assets -€20,006
down €20,006 (-31.4%), from €63,725 to €43,719
of which Furniture and vehicles: -€10,658
- Receivables within one year +€9,773
up €9,773 (+34.5%), from €28,309 to €38,082
of which Other amounts receivable: +€7,892
- Profit (loss) carried forward -€7,591
down €7,591 (-11.2%), from €67,644 to €60,053
- Current portion of long-term debt -€1,565
no longer reported in 2025 (was €1,565)
- Tax, wage and social debts -€1,177
down €1,177 (-12.4%), from €9,516 to €8,339
of which Taxes: -€2,063
- Gross operating margin +€6,855
up €6,855 (+84.1%), from €8,151 to €15,006
- Depreciation +€5,571
up €5,571 (+38.6%), from €14,435 to €20,006
- Financial charges -€438
down €438 (-27.3%), from €1,606 to €1,168
- Other operating charges +€306
up €306 (+31.3%), from €978 to €1,285
- Taxes -€213
down €213 (-60.2%), from €354 to €141
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €92,353 | €81,840 | -€10,513 | -11.4% |
| Fixed assets | 21/28 | €63,725 | €43,719 | -€20,006 | -31.4% |
| Tangible fixed assets | 22/27 | €63,725 | €43,719 | -€20,006 | -31.4% |
| Land and buildings | 22 | €4,722 | €3,682 | -€1,040 | -22.0% |
| Plant, machinery and equipment | 23 | €13,942 | €5,633 | -€8,309 | -59.6% |
| Furniture and vehicles | 24 | €45,061 | €34,403 | -€10,658 | -23.7% |
| Current assets | 29/58 | €28,628 | €38,121 | +€9,493 | +33.2% |
| Amounts receivable within one year | 40/41 | €28,309 | €38,082 | +€9,773 | +34.5% |
| Trade receivables | 40 | €9,614 | €11,495 | +€1,881 | +19.6% |
| Other amounts receivable | 41 | €18,695 | €26,587 | +€7,892 | +42.2% |
| Deferred charges and accrued income | 490/1 | €319 | €39 | -€280 | -87.7% |
| Total equity and liabilities | 10/49 | €92,353 | €81,840 | -€10,513 | -11.4% |
| Equity | 10/15 | €75,704 | €68,113 | -€7,591 | -10.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,644 | €60,053 | -€7,591 | -11.2% |
| Amounts payable | 17/49 | €16,649 | €13,727 | -€2,922 | -17.5% |
| Amounts payable within one year | 42/48 | €16,649 | €13,727 | -€2,922 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €1,565 | - | -€1,565 | |
| Financial debts | 43 | €4,342 | €4,954 | +€612 | +14.1% |
| Credit institutions | 430/8 | €4,342 | €4,954 | +€612 | +14.1% |
| Trade debts | 44 | €1,225 | €434 | -€791 | -64.6% |
| Suppliers | 440/4 | €1,225 | €434 | -€791 | -64.6% |
| Taxes, remuneration and social security | 45 | €9,516 | €8,339 | -€1,177 | -12.4% |
| Taxes | 450/3 | €6,898 | €4,835 | -€2,063 | -29.9% |
| Remuneration and social security | 454/9 | €2,618 | €3,503 | +€885 | +33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,435 | €20,006 | +€5,571 | +38.6% |
| Other operating charges | 640/8 | €978 | €1,285 | +€306 | +31.3% |
| Gross operating margin | 9900 | €8,151 | €15,006 | +€6,855 | +84.1% |
| Operating profit (loss) | 9901 | -€7,262 | -€6,285 | +€977 | +13.5% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €1,606 | €1,168 | -€438 | -27.3% |
| Recurring financial charges | 65 | €1,606 | €1,168 | -€438 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,867 | -€7,450 | +€1,417 | +16.0% |
| Income taxes | 67/77 | €354 | €141 | -€213 | -60.2% |
| Profit (loss) for the period | 9904 | -€9,221 | -€7,591 | +€1,630 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,221 | -€7,591 | +€1,630 | +17.7% |
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 29 September 2026 via checked.be.