E&D PARTNERS: 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 PARTNERS
Largest movements
- Cash +€259,286
up €259,286 (+80.2%), from €323,402 to €582,688
mainly Other debts (+€700,000) and Net result for the year (+€433,274)
- Receivables within one year +€136,221
up €136,221 (+690.4%), from €19,730 to €155,950
of which Trade receivables: +€136,664
- Tangible fixed assets -€17,061
down €17,061 (-7.5%), from €228,893 to €211,832
of which Land and buildings: -€13,980
- Other debts +€700,000
new in 2025: €700,000
- Reserves -€311,000
no longer reported in 2025 (was €311,000)
- Profit (loss) carried forward +€44,274
up €44,274 (+1808.2%), from €2,449 to €46,722
- Accrued charges and deferred income -€43,383
down €43,383 (-90.9%), from €47,750 to €4,367
- Debts after one year -€16,301
down €16,301 (-11.2%), from €145,677 to €129,376
- Gross operating margin +€334,101
up €334,101 (+118.1%), from €282,972 to €617,074
- Staff costs +€65,498
up €65,498 (+266.8%), from €24,546 to €90,044
- Taxes +€12,692
up €12,692 (+25.8%), from €49,119 to €61,811
- Write-downs -€10,470
down €10,470, from €10,110 to -€360
- Financial income +€6,807
up €6,807 (+274.8%), from €2,477 to €9,284
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 | €588,548 | €974,138 | +€385,590 | +65.5% |
| Fixed assets | 21/28 | €234,893 | €217,832 | -€17,061 | -7.3% |
| Tangible fixed assets | 22/27 | €228,893 | €211,832 | -€17,061 | -7.5% |
| Land and buildings | 22 | €201,660 | €187,680 | -€13,980 | -6.9% |
| Plant, machinery and equipment | 23 | €2,297 | €1,490 | -€807 | -35.1% |
| Furniture and vehicles | 24 | €24,935 | €22,661 | -€2,274 | -9.1% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €353,656 | €756,307 | +€402,651 | +113.9% |
| Amounts receivable within one year | 40/41 | €19,730 | €155,950 | +€136,221 | +690.4% |
| Trade receivables | 40 | €9,290 | €145,954 | +€136,664 | +1471.1% |
| Other amounts receivable | 41 | €10,439 | €9,996 | -€443 | -4.2% |
| Cash at bank and in hand | 54/58 | €323,402 | €582,688 | +€259,286 | +80.2% |
| Deferred charges and accrued income | 490/1 | €10,524 | €17,669 | +€7,145 | +67.9% |
| Total equity and liabilities | 10/49 | €588,548 | €974,138 | +€385,590 | +65.5% |
| Equity | 10/15 | €315,449 | €48,722 | -€266,726 | -84.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €311,000 | - | -€311,000 | |
| Distributable reserves | 133 | €311,000 | - | -€311,000 | |
| Profit (loss) carried forward | 14 | €2,449 | €46,722 | +€44,274 | +1808.2% |
| Provisions and deferred taxes | 16 | €7,500 | - | -€7,500 | |
| Provisions for liabilities and charges | 160/5 | €7,500 | - | -€7,500 | |
| Major repairs and maintenance | 162 | €2,000 | - | -€2,000 | |
| Other liabilities and charges | 164/5 | €5,500 | - | -€5,500 | |
| Amounts payable | 17/49 | €265,600 | €925,416 | +€659,816 | +248.4% |
| Amounts payable after more than one year | 17 | €145,677 | €129,376 | -€16,301 | -11.2% |
| Financial debts | 170/4 | €145,677 | €129,376 | -€16,301 | -11.2% |
| Amounts payable within one year | 42/48 | €72,173 | €791,673 | +€719,500 | +996.9% |
| Current portion of amounts payable after more than one year | 42 | €15,646 | €16,301 | +€655 | +4.2% |
| Financial debts | 43 | €1,445 | €1,751 | +€306 | +21.2% |
| Credit institutions | 430/8 | €1,445 | €1,751 | +€306 | +21.2% |
| Trade debts | 44 | €11,908 | €15,177 | +€3,268 | +27.4% |
| Suppliers | 440/4 | €11,908 | €15,177 | +€3,268 | +27.4% |
| Taxes, remuneration and social security | 45 | €43,173 | €58,445 | +€15,271 | +35.4% |
| Taxes | 450/3 | €40,975 | €46,784 | +€5,809 | +14.2% |
| Remuneration and social security | 454/9 | €2,198 | €11,660 | +€9,462 | +430.4% |
| Other amounts payable | 47/48 | - | €700,000 | +€700,000 | |
| Accrued charges and deferred income | 492/3 | €47,750 | €4,367 | -€43,383 | -90.9% |
| Non-recurring operating income | 76A | - | €7,500 | +€7,500 | |
| Remuneration, social security and pensions | 62 | €24,546 | €90,044 | +€65,498 | +266.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,734 | €27,024 | +€5,291 | +24.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,110 | -€360 | -€10,470 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €4,000 | - | -€4,000 | |
| Other operating charges | 640/8 | €2,119 | €1,800 | -€319 | -15.1% |
| Non-recurring operating charges | 66A | €2,420 | - | -€2,420 | |
| Gross operating margin | 9900 | €282,972 | €617,074 | +€334,101 | +118.1% |
| Operating profit (loss) | 9901 | €218,044 | €498,566 | +€280,521 | +128.7% |
| Financial income | 75/76B | €2,477 | €9,284 | +€6,807 | +274.8% |
| Recurring financial income | 75 | €2,477 | €9,284 | +€6,807 | +274.8% |
| Financial charges | 65/66B | €11,961 | €12,765 | +€803 | +6.7% |
| Recurring financial charges | 65 | €11,961 | €12,765 | +€803 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €208,560 | €495,085 | +€286,525 | +137.4% |
| Income taxes | 67/77 | €49,119 | €61,811 | +€12,692 | +25.8% |
| Profit (loss) for the period | 9904 | €159,441 | €433,274 | +€273,832 | +171.7% |
| Profit (loss) for the period to be appropriated | 9905 | €159,441 | €433,274 | +€273,832 | +171.7% |
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 5 October 2026 via checked.be.