E.DU: 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.DU
Largest movements
- Current investments +€83,470
up €83,470 (+12.2%), from €684,509 to €767,978
- Cash -€27,475
down €27,475 (-52.8%), from €52,010 to €24,535
mainly Current investments (-€83,470) and Debts after one year (-€23,646)
- Tangible fixed assets -€19,667
down €19,667 (-6.1%), from €323,448 to €303,781
of which Land and buildings: -€18,406
- Accrued charges and deferred income +€43,133
up €43,133 (+96.6%), from €44,631 to €87,764
- Debts after one year -€23,646
down €23,646 (-10.4%), from €227,845 to €204,199
- Reserves +€15,578
up €15,578 (+8.0%), from €194,169 to €209,748
of which Tax-exempt reserves: +€8,420
- Financial income +€63,383
up €63,383 (+776.9%), from €8,158 to €71,541
- Financial charges +€43,600
up €43,600 (+471.4%), from €9,248 to €52,848
- Gross operating margin -€34,620
down €34,620 (-50.0%), from €69,229 to €34,609
- Taxes -€3,507
down €3,507 (-30.7%), from €11,418 to €7,911
- Write-downs +€2,134
new in 2025: €2,134
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 | €1,090,313 | €1,122,802 | +€32,489 | +3.0% |
| Fixed assets | 21/28 | €323,698 | €304,031 | -€19,667 | -6.1% |
| Tangible fixed assets | 22/27 | €323,448 | €303,781 | -€19,667 | -6.1% |
| Land and buildings | 22 | €321,004 | €302,598 | -€18,406 | -5.7% |
| Plant, machinery and equipment | 23 | €2,324 | €1,184 | -€1,141 | -49.1% |
| Furniture and vehicles | 24 | €121 | €0 | -€121 | -100.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €766,614 | €818,771 | +€52,157 | +6.8% |
| Amounts receivable within one year | 40/41 | €27,397 | €25,526 | -€1,871 | -6.8% |
| Trade receivables | 40 | €26,504 | €18,320 | -€8,184 | -30.9% |
| Other amounts receivable | 41 | €892 | €7,205 | +€6,313 | +707.3% |
| Current investments | 50/53 | €684,509 | €767,978 | +€83,470 | +12.2% |
| Cash at bank and in hand | 54/58 | €52,010 | €24,535 | -€27,475 | -52.8% |
| Deferred charges and accrued income | 490/1 | €2,699 | €732 | -€1,967 | -72.9% |
| Total equity and liabilities | 10/49 | €1,090,313 | €1,122,802 | +€32,489 | +3.0% |
| Equity | 10/15 | €471,800 | €487,378 | +€15,578 | +3.3% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €194,169 | €209,748 | +€15,578 | +8.0% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,181 | €24,601 | +€8,420 | +52.0% |
| Distributable reserves | 133 | €174,268 | €181,427 | +€7,158 | +4.1% |
| Profit (loss) carried forward | 14 | €240,431 | €240,431 | = | 0.0% |
| Amounts payable | 17/49 | €618,513 | €635,424 | +€16,911 | +2.7% |
| Amounts payable after more than one year | 17 | €227,845 | €204,199 | -€23,646 | -10.4% |
| Financial debts | 170/4 | €227,845 | €204,199 | -€23,646 | -10.4% |
| Amounts payable within one year | 42/48 | €346,037 | €343,461 | -€2,576 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €22,461 | €22,621 | +€159 | +0.7% |
| Financial debts | 43 | €785 | €223 | -€563 | -71.7% |
| Credit institutions | 430/8 | €785 | €223 | -€563 | -71.7% |
| Trade debts | 44 | €2,508 | €7,665 | +€5,157 | +205.6% |
| Suppliers | 440/4 | €2,508 | €7,665 | +€5,157 | +205.6% |
| Taxes, remuneration and social security | 45 | €9,345 | €21 | -€9,324 | -99.8% |
| Taxes | 450/3 | €9,345 | €21 | -€9,324 | -99.8% |
| Other amounts payable | 47/48 | €310,937 | €312,932 | +€1,995 | +0.6% |
| Accrued charges and deferred income | 492/3 | €44,631 | €87,764 | +€43,133 | +96.6% |
| Non-recurring operating income | 76A | €471 | €0 | -€471 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,553 | €25,479 | -€74 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,134 | +€2,134 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €1,623 | €2,198 | +€575 | +35.4% |
| Gross operating margin | 9900 | €69,229 | €34,609 | -€34,620 | -50.0% |
| Operating profit (loss) | 9901 | €42,053 | €4,797 | -€37,255 | -88.6% |
| Financial income | 75/76B | €8,158 | €71,541 | +€63,383 | +776.9% |
| Recurring financial income | 75 | €8,158 | €71,541 | +€63,383 | +776.9% |
| Financial charges | 65/66B | €9,248 | €52,848 | +€43,600 | +471.4% |
| Recurring financial charges | 65 | €9,248 | €52,848 | +€43,600 | +471.4% |
| Profit (loss) for the period before taxes | 9903 | €40,962 | €23,490 | -€17,473 | -42.7% |
| Income taxes | 67/77 | €11,418 | €7,911 | -€3,507 | -30.7% |
| Profit (loss) for the period | 9904 | €29,544 | €15,578 | -€13,966 | -47.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €12,630 | €8,420 | -€4,210 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,914 | €7,158 | -€9,756 | -57.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.