E en G: 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 en G
Largest movements
- Tangible fixed assets +€577,483
up €577,483 (+5,784%), from €9,984 to €587,468
of which Land and buildings: +€576,788
- Cash -€523,113
down €523,113 (-97.4%), from €537,160 to €14,047
mainly Investment in fixed assets (net) (-€582,536) and Stocks and contracts (-€8,904)
- Receivables within one year -€10,919
down €10,919 (-22.5%), from €48,579 to €37,660
of which Other amounts receivable: -€9,812
- Stocks and contracts +€8,904
up €8,904 (+71.4%), from €12,469 to €21,373
- Trade debts +€50,538
up €50,538 (+403%), from €12,551 to €63,089
- Gross operating margin -€18,149
down €18,149 (-83.5%), from €21,727 to €3,578
- Financial income -€7,352
down €7,352 (-64.0%), from €11,496 to €4,144
- Financial charges -€5,236
down €5,236 (-96.0%), from €5,453 to €217
of which Non-recurring financial charges: -€5,262
- Depreciation +€5,037
up €5,037 (+32,022%), from €16 to €5,053
- Other operating charges +€1,443
up €1,443 (+181%), from €798 to €2,240
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 | €619,062 | €672,905 | +€53,843 | +8.7% |
| Fixed assets | 21/28 | €9,984 | €587,468 | +€577,483 | +5,784% |
| Tangible fixed assets | 22/27 | €9,984 | €587,468 | +€577,483 | +5,784% |
| Land and buildings | 22 | €9,984 | €586,772 | +€576,788 | +5,777% |
| Plant, machinery and equipment | 23 | - | €696 | +€696 | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €609,077 | €85,437 | -€523,640 | -86.0% |
| Stocks and contracts in progress | 3 | €12,469 | €21,373 | +€8,904 | +71.4% |
| Stocks | 30/36 | €12,469 | €21,373 | +€8,904 | +71.4% |
| Amounts receivable within one year | 40/41 | €48,579 | €37,660 | -€10,919 | -22.5% |
| Trade receivables | 40 | €5,072 | €3,965 | -€1,107 | -21.8% |
| Other amounts receivable | 41 | €43,507 | €33,694 | -€9,812 | -22.6% |
| Current investments | 50/53 | €10,870 | €10,370 | -€501 | -4.6% |
| Cash at bank and in hand | 54/58 | €537,160 | €14,047 | -€523,113 | -97.4% |
| Deferred charges and accrued income | 490/1 | - | €1,988 | +€1,988 | |
| Total equity and liabilities | 10/49 | €619,062 | €672,905 | +€53,843 | +8.7% |
| Equity | 10/15 | €491,904 | €493,097 | +€1,193 | +0.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €473,312 | €474,505 | +€1,193 | +0.3% |
| Tax-exempt reserves | 132 | €334,545 | €331,602 | -€2,943 | -0.9% |
| Distributable reserves | 133 | €138,766 | €142,903 | +€4,136 | +3.0% |
| Provisions and deferred taxes | 16 | €109,327 | €108,346 | -€981 | -0.9% |
| Deferred taxes | 168 | €109,327 | €108,346 | -€981 | -0.9% |
| Amounts payable | 17/49 | €17,831 | €71,462 | +€53,631 | +301% |
| Amounts payable within one year | 42/48 | €16,549 | €71,429 | +€54,880 | +332% |
| Trade debts | 44 | €12,551 | €63,089 | +€50,538 | +403% |
| Suppliers | 440/4 | €12,551 | €63,089 | +€50,538 | +403% |
| Taxes, remuneration and social security | 45 | €3,998 | €8,340 | +€4,342 | +109% |
| Taxes | 450/3 | €3,998 | €8,340 | +€4,342 | +109% |
| Accrued charges and deferred income | 492/3 | €1,282 | €33 | -€1,249 | -97.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16 | €5,053 | +€5,037 | +32,022% |
| Other operating charges | 640/8 | €798 | €2,240 | +€1,443 | +181% |
| Gross operating margin | 9900 | €21,727 | €3,578 | -€18,149 | -83.5% |
| Operating profit (loss) | 9901 | €20,914 | -€3,715 | -€24,629 | |
| Financial income | 75/76B | €11,496 | €4,144 | -€7,352 | -64.0% |
| Recurring financial income | 75 | €11,496 | €4,144 | -€7,352 | -64.0% |
| Financial charges | 65/66B | €5,453 | €217 | -€5,236 | -96.0% |
| Recurring financial charges | 65 | €191 | €217 | +€26 | +13.5% |
| Non-recurring financial charges | 66B | €5,262 | - | -€5,262 | |
| Profit (loss) for the period before taxes | 9903 | €26,957 | €212 | -€26,745 | -99.2% |
| Transfer from deferred taxes | 780 | - | €981 | +€981 | |
| Income taxes | 67/77 | €28 | €0 | -€28 | -100% |
| Profit (loss) for the period | 9904 | €26,929 | €1,193 | -€25,736 | -95.6% |
| Transfer from tax-exempt reserves | 789 | - | €2,943 | +€2,943 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,929 | €4,136 | -€22,793 | -84.6% |
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 20 October 2026 via checked.be.