E en P: 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 P
Largest movements
- Cash +€33,833
up €33,833 (+25.7%), from €131,901 to €165,733
mainly Net result for the year (+€34,039) and Other debts (+€30,000)
- Tangible fixed assets -€26,459
down €26,459 (-22.9%), from €115,472 to €89,013
- Receivables within one year +€7,328
up €7,328 (+46.5%), from €15,748 to €23,076
of which Trade receivables: +€5,741
- Stocks and contracts -€3,041
down €3,041 (-11.5%), from €26,547 to €23,507
of which Contracts in progress: -€3,910
- Other debts +€30,000
new in 2025: €30,000
- Debts after one year -€16,334
down €16,334 (-41.7%), from €39,198 to €22,864
- Trade debts -€7,090
down €7,090 (-34.0%), from €20,825 to €13,735
- Reserves +€4,000
up €4,000 (+2.1%), from €193,610 to €197,610
- Gross operating margin +€10,128
up €10,128 (+7.3%), from €138,138 to €148,266
- Depreciation +€9,634
up €9,634 (+57.3%), from €16,825 to €26,459
- Staff costs -€2,002
down €2,002 (-2.7%), from €73,418 to €71,415
- Taxes +€1,536
up €1,536 (+13.0%), from €11,850 to €13,386
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 | €290,467 | €302,266 | +€11,799 | +4.1% |
| Fixed assets | 21/28 | €115,472 | €89,013 | -€26,459 | -22.9% |
| Tangible fixed assets | 22/27 | €115,472 | €89,013 | -€26,459 | -22.9% |
| Furniture and vehicles | 24 | €115,472 | €89,013 | -€26,459 | -22.9% |
| Current assets | 29/58 | €174,994 | €213,253 | +€38,259 | +21.9% |
| Stocks and contracts in progress | 3 | €26,547 | €23,507 | -€3,041 | -11.5% |
| Stocks | 30/36 | €4,067 | €4,937 | +€869 | +21.4% |
| Contracts in progress | 37 | €22,480 | €18,570 | -€3,910 | -17.4% |
| Amounts receivable within one year | 40/41 | €15,748 | €23,076 | +€7,328 | +46.5% |
| Trade receivables | 40 | €1,441 | €7,182 | +€5,741 | +399% |
| Other amounts receivable | 41 | €14,307 | €15,895 | +€1,587 | +11.1% |
| Cash at bank and in hand | 54/58 | €131,901 | €165,733 | +€33,833 | +25.7% |
| Deferred charges and accrued income | 490/1 | €799 | €937 | +€138 | +17.3% |
| Total equity and liabilities | 10/49 | €290,467 | €302,266 | +€11,799 | +4.1% |
| Equity | 10/15 | €212,954 | €216,993 | +€4,039 | +1.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €193,610 | €197,610 | +€4,000 | +2.1% |
| Distributable reserves | 133 | €193,610 | €197,610 | +€4,000 | +2.1% |
| Profit (loss) carried forward | 14 | €752 | €791 | +€39 | +5.1% |
| Amounts payable | 17/49 | €77,513 | €85,274 | +€7,761 | +10.0% |
| Amounts payable after more than one year | 17 | €39,198 | €22,864 | -€16,334 | -41.7% |
| Financial debts | 170/4 | €39,198 | €22,864 | -€16,334 | -41.7% |
| Amounts payable within one year | 42/48 | €38,158 | €62,410 | +€24,251 | +63.6% |
| Current portion of amounts payable after more than one year | 42 | €15,727 | €16,334 | +€607 | +3.9% |
| Trade debts | 44 | €20,825 | €13,735 | -€7,090 | -34.0% |
| Suppliers | 440/4 | €20,825 | €13,735 | -€7,090 | -34.0% |
| Taxes, remuneration and social security | 45 | €1,607 | €2,341 | +€735 | +45.7% |
| Remuneration and social security | 454/9 | €1,607 | €2,341 | +€735 | +45.7% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Accrued charges and deferred income | 492/3 | €157 | - | -€157 | |
| Remuneration, social security and pensions | 62 | €73,418 | €71,415 | -€2,002 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,825 | €26,459 | +€9,634 | +57.3% |
| Other operating charges | 640/8 | €1,491 | €1,430 | -€61 | -4.1% |
| Gross operating margin | 9900 | €138,138 | €148,266 | +€10,128 | +7.3% |
| Operating profit (loss) | 9901 | €46,405 | €48,962 | +€2,558 | +5.5% |
| Financial income | 75/76B | €895 | €930 | +€35 | +3.9% |
| Recurring financial income | 75 | €895 | €930 | +€35 | +3.9% |
| Financial charges | 65/66B | €2,230 | €2,468 | +€238 | +10.7% |
| Recurring financial charges | 65 | €2,230 | €2,468 | +€238 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €45,070 | €47,424 | +€2,354 | +5.2% |
| Income taxes | 67/77 | €11,850 | €13,386 | +€1,536 | +13.0% |
| Profit (loss) for the period | 9904 | €33,220 | €34,039 | +€818 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,220 | €34,039 | +€818 | +2.5% |
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.