E. DING: 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. DING
Largest movements
- Tangible fixed assets -€11,013
down €11,013 (-13.6%), from €80,943 to €69,930
of which Plant, machinery and equipment: -€9,528
- Cash -€7,302
down €7,302 (-3.2%), from €227,142 to €219,841
mainly Contributions, distributions and other (-€85,000) and Tax, wage and social debts (-€32,780)
- Deferred charges and accrued income +€6,121
up €6,121, from €0 to €6,121
- Tax, wage and social debts -€32,780
down €32,780 (-50.6%), from €64,789 to €32,008
of which Remuneration and social security: -€23,871
- Reserves +€15,400
up €15,400 (+7.6%), from €201,600 to €217,000
- Trade debts +€5,636
up €5,636 (+31.2%), from €18,082 to €23,719
- Gross operating margin -€13,598
down €13,598 (-2.0%), from €687,304 to €673,707
- Staff costs +€9,042
up €9,042 (+1.8%), from €510,185 to €519,227
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 | €320,762 | €311,765 | -€8,997 | -2.8% |
| Fixed assets | 21/28 | €81,038 | €70,025 | -€11,013 | -13.6% |
| Tangible fixed assets | 22/27 | €80,943 | €69,930 | -€11,013 | -13.6% |
| Land and buildings | 22 | €494 | €423 | -€71 | -14.3% |
| Plant, machinery and equipment | 23 | €37,521 | €27,993 | -€9,528 | -25.4% |
| Furniture and vehicles | 24 | €8,825 | €4,926 | -€3,899 | -44.2% |
| Other tangible fixed assets | 26 | €34,104 | €36,588 | +€2,484 | +7.3% |
| Financial fixed assets | 28 | €95 | €95 | = | 0.0% |
| Current assets | 29/58 | €239,724 | €241,740 | +€2,016 | +0.8% |
| Stocks and contracts in progress | 3 | €11,000 | €12,250 | +€1,250 | +11.4% |
| Stocks | 30/36 | €11,000 | €12,250 | +€1,250 | +11.4% |
| Amounts receivable within one year | 40/41 | €1,581 | €3,528 | +€1,946 | +123.1% |
| Trade receivables | 40 | €1,581 | €2,162 | +€581 | +36.7% |
| Other amounts receivable | 41 | - | €1,366 | +€1,366 | |
| Cash at bank and in hand | 54/58 | €227,142 | €219,841 | -€7,302 | -3.2% |
| Deferred charges and accrued income | 490/1 | €0 | €6,121 | +€6,121 | |
| Total equity and liabilities | 10/49 | €320,762 | €311,765 | -€8,997 | -2.8% |
| Equity | 10/15 | €231,368 | €247,121 | +€15,753 | +6.8% |
| Contributions | 10/11 | €29,747 | €29,747 | = | 0.0% |
| Reserves | 13 | €201,600 | €217,000 | +€15,400 | +7.6% |
| Distributable reserves | 133 | €201,600 | €217,000 | +€15,400 | +7.6% |
| Profit (loss) carried forward | 14 | €21 | €373 | +€353 | +1714.3% |
| Amounts payable | 17/49 | €89,394 | €64,645 | -€24,750 | -27.7% |
| Amounts payable within one year | 42/48 | €88,758 | €61,273 | -€27,485 | -31.0% |
| Trade debts | 44 | €18,082 | €23,719 | +€5,636 | +31.2% |
| Suppliers | 440/4 | €18,082 | €23,719 | +€5,636 | +31.2% |
| Taxes, remuneration and social security | 45 | €64,789 | €32,008 | -€32,780 | -50.6% |
| Taxes | 450/3 | €16,155 | €7,245 | -€8,910 | -55.2% |
| Remuneration and social security | 454/9 | €48,633 | €24,763 | -€23,871 | -49.1% |
| Other amounts payable | 47/48 | €5,888 | €5,546 | -€341 | -5.8% |
| Accrued charges and deferred income | 492/3 | €636 | €3,372 | +€2,736 | +430.2% |
| Remuneration, social security and pensions | 62 | €510,185 | €519,227 | +€9,042 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,245 | €17,777 | -€467 | -2.6% |
| Other operating charges | 640/8 | €4,653 | €2,313 | -€2,340 | -50.3% |
| Gross operating margin | 9900 | €687,304 | €673,707 | -€13,598 | -2.0% |
| Operating profit (loss) | 9901 | €154,222 | €134,389 | -€19,832 | -12.9% |
| Financial income | 75/76B | €379 | €382 | +€3 | +0.7% |
| Recurring financial income | 75 | €379 | €382 | +€3 | +0.7% |
| Financial charges | 65/66B | €4,874 | €5,351 | +€477 | +9.8% |
| Recurring financial charges | 65 | €4,874 | €5,351 | +€477 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €149,727 | €129,420 | -€20,307 | -13.6% |
| Income taxes | 67/77 | €33,855 | €28,667 | -€5,188 | -15.3% |
| Profit (loss) for the period | 9904 | €115,872 | €100,753 | -€15,119 | -13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €115,872 | €100,753 | -€15,119 | -13.0% |
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 12 October 2026 via checked.be.