E&E: 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&E
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-58.1%), from €2.0m to €825,881
of which Trade receivables: -€1.0m
- Debts after one year -€2.6m
down €2.6m (-19.6%), from €13.4m to €10.8m
of which Financial debts: -€2.6m
- Reserves +€912,809
up €912,809 (+19.1%), from €4.8m to €5.7m
of which Distributable reserves: +€912,809
- Other debts +€685,907
up €685,907 (+8.7%), from €7.9m to €8.5m
- Financial charges -€292,143
down €292,143 (-28.0%), from €1.0m to €752,226
- Taxes +€59,746
up €59,746 (+24.4%), from €244,591 to €304,336
- Gross operating margin -€52,329
down €52,329 (-2.6%), from €2.0m to €2.0m
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 | €29,406,104 | €28,283,414 | -€1.1m | -3.8% |
| Fixed assets | 21/28 | €27,390,000 | €27,390,000 | = | 0.0% |
| Financial fixed assets | 28 | €27,390,000 | €27,390,000 | = | 0.0% |
| Current assets | 29/58 | €2,016,104 | €893,414 | -€1.1m | -55.7% |
| Amounts receivable within one year | 40/41 | €1,972,939 | €825,881 | -€1.1m | -58.1% |
| Trade receivables | 40 | €1,783,307 | €764,600 | -€1.0m | -57.1% |
| Other amounts receivable | 41 | €189,631 | €61,281 | -€128,350 | -67.7% |
| Cash at bank and in hand | 54/58 | €43,165 | €67,533 | +€24,368 | +56.5% |
| Total equity and liabilities | 10/49 | €29,406,104 | €28,283,414 | -€1.1m | -3.8% |
| Equity | 10/15 | €5,001,181 | €5,913,991 | +€912,809 | +18.3% |
| Contributions | 10/11 | €218,315 | €218,315 | = | 0.0% |
| Capital | 10 | €218,315 | €218,315 | = | 0.0% |
| Issued capital | 100 | €218,315 | €218,315 | = | 0.0% |
| Reserves | 13 | €4,782,866 | €5,695,676 | +€912,809 | +19.1% |
| Non-distributable reserves | 130/1 | €21,831 | €21,831 | = | 0.0% |
| Legal reserve | 130 | €21,831 | €21,831 | = | 0.0% |
| Distributable reserves | 133 | €4,761,035 | €5,673,844 | +€912,809 | +19.2% |
| Amounts payable | 17/49 | €24,404,922 | €22,369,423 | -€2.0m | -8.3% |
| Amounts payable after more than one year | 17 | €13,393,333 | €10,766,667 | -€2.6m | -19.6% |
| Financial debts | 170/4 | €6,693,333 | €4,066,667 | -€2.6m | -39.2% |
| Other amounts payable | 178/9 | €6,700,000 | €6,700,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,919,589 | €11,510,757 | +€591,168 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €2,626,667 | €2,626,667 | = | 0.0% |
| Financial debts | 43 | €254,222 | €150,452 | -€103,770 | -40.8% |
| Credit institutions | 430/8 | €254,222 | €150,452 | -€103,770 | -40.8% |
| Trade debts | 44 | €21,631 | €81,743 | +€60,112 | +278% |
| Suppliers | 440/4 | €21,631 | €81,743 | +€60,112 | +278% |
| Taxes, remuneration and social security | 45 | €155,700 | €104,617 | -€51,082 | -32.8% |
| Taxes | 450/3 | €155,700 | €104,617 | -€51,082 | -32.8% |
| Other amounts payable | 47/48 | €7,861,370 | €8,547,278 | +€685,907 | +8.7% |
| Accrued charges and deferred income | 492/3 | €92,000 | €92,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,279 | €2,310 | +€1,031 | +80.7% |
| Gross operating margin | 9900 | €2,024,010 | €1,971,681 | -€52,329 | -2.6% |
| Operating profit (loss) | 9901 | €2,022,732 | €1,969,371 | -€53,360 | -2.6% |
| Financial charges | 65/66B | €1,044,369 | €752,226 | -€292,143 | -28.0% |
| Recurring financial charges | 65 | €1,044,369 | €752,226 | -€292,143 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €978,363 | €1,217,146 | +€238,783 | +24.4% |
| Income taxes | 67/77 | €244,591 | €304,336 | +€59,746 | +24.4% |
| Profit (loss) for the period | 9904 | €733,772 | €912,809 | +€179,037 | +24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €733,772 | €912,809 | +€179,037 | +24.4% |
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 17 October 2026 via checked.be.