E en S: 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 S
Largest movements
- Cash -€4,835
down €4,835 (-63.4%), from €7,624 to €2,789
mainly Net result for the year (-€43,630) and Tax, wage and social debts (-€2,920)
- Tangible fixed assets -€4,007
down €4,007 (-31.6%), from €12,673 to €8,666
- Receivables within one year -€2,089
down €2,089 (-92.1%), from €2,268 to €179
of which Other amounts receivable: -€2,033
- Stocks and contracts +€420
up €420 (+3.7%), from €11,455 to €11,876
- Profit (loss) carried forward -€43,630
down €43,630 (-25.0%), from -€174,813 to -€218,443
- Trade debts +€19,931
up €19,931 (+65.7%), from €30,344 to €50,275
- Other debts +€16,369
up €16,369 (+15.4%), from €106,329 to €122,698
- Tax, wage and social debts -€2,920
down €2,920 (-5.0%), from €58,378 to €55,458
of which Remuneration and social security: -€3,681
- Gross operating margin -€3,577
down €3,577 (-10.5%), from -€33,950 to -€37,526
- Depreciation -€1,185
down €1,185 (-22.8%), from €5,192 to €4,007
- Financial charges -€573
down €573 (-49.3%), from €1,163 to €590
- Other operating charges -€493
down €493 (-28.6%), from €1,723 to €1,230
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 | €37,317 | €27,066 | -€10,251 | -27.5% |
| Fixed assets | 21/28 | €15,969 | €11,962 | -€4,007 | -25.1% |
| Tangible fixed assets | 22/27 | €12,673 | €8,666 | -€4,007 | -31.6% |
| Plant, machinery and equipment | 23 | €2,617 | €1,357 | -€1,260 | -48.2% |
| Furniture and vehicles | 24 | €2,781 | €1,045 | -€1,736 | -62.4% |
| Other tangible fixed assets | 26 | €7,275 | €6,264 | -€1,011 | -13.9% |
| Financial fixed assets | 28 | €3,296 | €3,296 | = | 0.0% |
| Current assets | 29/58 | €21,348 | €15,104 | -€6,244 | -29.2% |
| Stocks and contracts in progress | 3 | €11,455 | €11,876 | +€420 | +3.7% |
| Stocks | 30/36 | €11,455 | €11,876 | +€420 | +3.7% |
| Amounts receivable within one year | 40/41 | €2,268 | €179 | -€2,089 | -92.1% |
| Trade receivables | 40 | €56 | - | -€56 | |
| Other amounts receivable | 41 | €2,213 | €179 | -€2,033 | -91.9% |
| Cash at bank and in hand | 54/58 | €7,624 | €2,789 | -€4,835 | -63.4% |
| Deferred charges and accrued income | 490/1 | - | €260 | +€260 | |
| Total equity and liabilities | 10/49 | €37,317 | €27,066 | -€10,251 | -27.5% |
| Equity | 10/15 | -€161,735 | -€205,365 | -€43,630 | -27.0% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Capital | 10 | €12,395 | €12,395 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €684 | €684 | = | 0.0% |
| Non-distributable reserves | 130/1 | €684 | €684 | = | 0.0% |
| Legal reserve | 130 | €684 | €684 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,813 | -€218,443 | -€43,630 | -25.0% |
| Amounts payable | 17/49 | €199,051 | €232,431 | +€33,379 | +16.8% |
| Amounts payable within one year | 42/48 | €199,051 | €232,431 | +€33,379 | +16.8% |
| Current portion of amounts payable after more than one year | 42 | €4,000 | €4,000 | = | 0.0% |
| Trade debts | 44 | €30,344 | €50,275 | +€19,931 | +65.7% |
| Suppliers | 440/4 | €30,344 | €50,275 | +€19,931 | +65.7% |
| Taxes, remuneration and social security | 45 | €58,378 | €55,458 | -€2,920 | -5.0% |
| Taxes | 450/3 | €350 | €1,111 | +€761 | +217% |
| Remuneration and social security | 454/9 | €58,027 | €54,347 | -€3,681 | -6.3% |
| Other amounts payable | 47/48 | €106,329 | €122,698 | +€16,369 | +15.4% |
| Remuneration, social security and pensions | 62 | €121 | €190 | +€69 | +57.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,192 | €4,007 | -€1,185 | -22.8% |
| Other operating charges | 640/8 | €1,723 | €1,230 | -€493 | -28.6% |
| Gross operating margin | 9900 | -€33,950 | -€37,526 | -€3,577 | -10.5% |
| Operating profit (loss) | 9901 | -€40,986 | -€42,954 | -€1,968 | -4.8% |
| Financial income | 75/76B | - | €58 | +€58 | |
| Recurring financial income | 75 | - | €58 | +€58 | |
| Financial charges | 65/66B | €1,163 | €590 | -€573 | -49.3% |
| Recurring financial charges | 65 | €1,163 | €590 | -€573 | -49.3% |
| Profit (loss) for the period before taxes | 9903 | -€42,149 | -€43,486 | -€1,337 | -3.2% |
| Income taxes | 67/77 | €205 | €144 | -€61 | -29.8% |
| Profit (loss) for the period | 9904 | -€42,354 | -€43,630 | -€1,276 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,354 | -€43,630 | -€1,276 | -3.0% |
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 20 October 2026 via checked.be.