E+ EUROPE: 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+ EUROPE
Largest movements
- Receivables within one year +€51,872
up €51,872 (+238%), from €21,770 to €73,642
of which Trade receivables: +€53,504
- Cash +€30,986
up €30,986 (+77.3%), from €40,102 to €71,088
mainly Net result for the year (+€75,454) and Other debts (+€11,365)
- Tangible fixed assets -€6,469
down €6,469 (-15.2%), from €42,465 to €35,996
of which Plant, machinery and equipment: -€6,502
- Reserves +€57,317
up €57,317 (+153%), from €37,435 to €94,751
of which Distributable reserves: +€57,317
- Other debts +€11,365
new in 2025: €11,365
- Tax, wage and social debts +€11,356
up €11,356 (+124%), from €9,190 to €20,545
- Trade debts -€3,051
down €3,051 (-76.6%), from €3,982 to €931
- Gross operating margin +€90,960
up €90,960 (+237%), from €38,376 to €129,336
- Taxes +€28,227
up €28,227 (+162%), from €17,390 to €45,617
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 | €107,436 | €184,422 | +€76,987 | +71.7% |
| Fixed assets | 21/28 | €42,465 | €35,996 | -€6,469 | -15.2% |
| Tangible fixed assets | 22/27 | €42,465 | €35,996 | -€6,469 | -15.2% |
| Land and buildings | 22 | €8,220 | €7,535 | -€685 | -8.3% |
| Plant, machinery and equipment | 23 | €34,000 | €27,498 | -€6,502 | -19.1% |
| Furniture and vehicles | 24 | €245 | €964 | +€719 | +293% |
| Current assets | 29/58 | €64,971 | €148,426 | +€83,455 | +128% |
| Amounts receivable within one year | 40/41 | €21,770 | €73,642 | +€51,872 | +238% |
| Trade receivables | 40 | €12,388 | €65,892 | +€53,504 | +432% |
| Other amounts receivable | 41 | €9,382 | €7,750 | -€1,632 | -17.4% |
| Cash at bank and in hand | 54/58 | €40,102 | €71,088 | +€30,986 | +77.3% |
| Deferred charges and accrued income | 490/1 | €3,099 | €3,697 | +€598 | +19.3% |
| Total equity and liabilities | 10/49 | €107,436 | €184,422 | +€76,987 | +71.7% |
| Equity | 10/15 | €94,264 | €151,581 | +€57,317 | +60.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €37,435 | €94,751 | +€57,317 | +153% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €35,575 | €92,891 | +€57,317 | +161% |
| Profit (loss) carried forward | 14 | €50,629 | €50,629 | = | 0.0% |
| Amounts payable | 17/49 | €13,172 | €32,842 | +€19,670 | +149% |
| Amounts payable within one year | 42/48 | €13,172 | €32,842 | +€19,670 | +149% |
| Trade debts | 44 | €3,982 | €931 | -€3,051 | -76.6% |
| Suppliers | 440/4 | €3,982 | €931 | -€3,051 | -76.6% |
| Taxes, remuneration and social security | 45 | €9,190 | €20,545 | +€11,356 | +124% |
| Taxes | 450/3 | €9,190 | €20,545 | +€11,356 | +124% |
| Other amounts payable | 47/48 | - | €11,365 | +€11,365 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,329 | €7,644 | +€316 | +4.3% |
| Other operating charges | 640/8 | €1,536 | €598 | -€938 | -61.1% |
| Gross operating margin | 9900 | €38,376 | €129,336 | +€90,960 | +237% |
| Operating profit (loss) | 9901 | €29,512 | €121,094 | +€91,582 | +310% |
| Financial income | 75/76B | €57 | €165 | +€107 | +187% |
| Recurring financial income | 75 | €57 | €165 | +€107 | +187% |
| Financial charges | 65/66B | €283 | €188 | -€96 | -33.8% |
| Recurring financial charges | 65 | €283 | €188 | -€96 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €29,286 | €121,071 | +€91,785 | +313% |
| Income taxes | 67/77 | €17,390 | €45,617 | +€28,227 | +162% |
| Profit (loss) for the period | 9904 | €11,896 | €75,454 | +€63,558 | +534% |
| Profit (loss) for the period to be appropriated | 9905 | €11,896 | €75,454 | +€63,558 | +534% |
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 31 October 2026 via checked.be.