E.I.B.L.: 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.I.B.L.
Largest movements
- Cash +€40,689
up €40,689 (+96.0%), from €42,399 to €83,088
mainly Depreciation (+€71,607) and Net result for the year (+€52,422)
- Stocks and contracts -€40,053
down €40,053 (-43.6%), from €91,928 to €51,875
of which Contracts in progress: -€66,680
- Receivables within one year +€21,249
up €21,249 (+37.8%), from €56,145 to €77,394
of which Trade receivables: +€23,881
- Tangible fixed assets -€17,414
down €17,414 (-2.8%), from €623,126 to €605,712
of which Land and buildings: -€30,801
- Profit (loss) carried forward +€52,422
up €52,422 (+34.8%), from €150,676 to €203,097
- Debts after one year -€46,359
down €46,359 (-9.4%), from €490,865 to €444,506
- Trade debts -€13,120
down €13,120 (-27.4%), from €47,858 to €34,738
- Tax, wage and social debts +€9,455
up €9,455 (+40.6%), from €23,264 to €32,720
of which Remuneration and social security: +€5,507
- Gross operating margin +€90,726
up €90,726 (+33.8%), from €268,241 to €358,966
- Staff costs +€66,776
up €66,776 (+50.8%), from €131,426 to €198,202
- Depreciation +€8,694
up €8,694 (+13.8%), from €62,913 to €71,607
- Financial charges -€3,644
down €3,644 (-19.6%), from €18,596 to €14,951
of which Non-recurring financial charges: -€3,273
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 | €822,629 | €828,618 | +€5,989 | +0.7% |
| Fixed assets | 21/28 | €623,186 | €605,772 | -€17,414 | -2.8% |
| Tangible fixed assets | 22/27 | €623,126 | €605,712 | -€17,414 | -2.8% |
| Land and buildings | 22 | €505,072 | €474,271 | -€30,801 | -6.1% |
| Plant, machinery and equipment | 23 | €65,612 | €72,855 | +€7,243 | +11.0% |
| Furniture and vehicles | 24 | €52,441 | €58,586 | +€6,144 | +11.7% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €199,443 | €222,846 | +€23,403 | +11.7% |
| Stocks and contracts in progress | 3 | €91,928 | €51,875 | -€40,053 | -43.6% |
| Stocks | 30/36 | €25,248 | €51,875 | +€26,627 | +105% |
| Contracts in progress | 37 | €66,680 | - | -€66,680 | |
| Amounts receivable within one year | 40/41 | €56,145 | €77,394 | +€21,249 | +37.8% |
| Trade receivables | 40 | €51,552 | €75,433 | +€23,881 | +46.3% |
| Other amounts receivable | 41 | €4,593 | €1,961 | -€2,632 | -57.3% |
| Cash at bank and in hand | 54/58 | €42,399 | €83,088 | +€40,689 | +96.0% |
| Deferred charges and accrued income | 490/1 | €8,971 | €10,489 | +€1,518 | +16.9% |
| Total equity and liabilities | 10/49 | €822,629 | €828,618 | +€5,989 | +0.7% |
| Equity | 10/15 | €203,170 | €255,592 | +€52,422 | +25.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €27,494 | €27,494 | = | 0.0% |
| Distributable reserves | 133 | €27,494 | €27,494 | = | 0.0% |
| Profit (loss) carried forward | 14 | €150,676 | €203,097 | +€52,422 | +34.8% |
| Amounts payable | 17/49 | €619,459 | €573,026 | -€46,433 | -7.5% |
| Amounts payable after more than one year | 17 | €490,865 | €444,506 | -€46,359 | -9.4% |
| Financial debts | 170/4 | €490,865 | €444,506 | -€46,359 | -9.4% |
| Amounts payable within one year | 42/48 | €128,403 | €128,386 | -€17 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €40,170 | €46,126 | +€5,956 | +14.8% |
| Trade debts | 44 | €47,858 | €34,738 | -€13,120 | -27.4% |
| Suppliers | 440/4 | €47,858 | €34,738 | -€13,120 | -27.4% |
| Advances received on contracts in progress | 46 | - | €1,450 | +€1,450 | |
| Taxes, remuneration and social security | 45 | €23,264 | €32,720 | +€9,455 | +40.6% |
| Taxes | 450/3 | €5,552 | €9,501 | +€3,948 | +71.1% |
| Remuneration and social security | 454/9 | €17,712 | €23,219 | +€5,507 | +31.1% |
| Other amounts payable | 47/48 | €17,111 | €13,352 | -€3,759 | -22.0% |
| Accrued charges and deferred income | 492/3 | €191 | €135 | -€56 | -29.5% |
| Remuneration, social security and pensions | 62 | €131,426 | €198,202 | +€66,776 | +50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,913 | €71,607 | +€8,694 | +13.8% |
| Other operating charges | 640/8 | €6,955 | €7,763 | +€808 | +11.6% |
| Operating charges capitalised as restructuring costs | 649 | €0 | €0 | = | |
| Gross operating margin | 9900 | €268,241 | €358,966 | +€90,726 | +33.8% |
| Operating profit (loss) | 9901 | €66,947 | €81,394 | +€14,448 | +21.6% |
| Financial income | 75/76B | €209 | €42 | -€168 | -80.1% |
| Recurring financial income | 75 | €209 | €42 | -€168 | -80.1% |
| Financial charges | 65/66B | €18,596 | €14,951 | -€3,644 | -19.6% |
| Recurring financial charges | 65 | €10,875 | €10,504 | -€371 | -3.4% |
| Non-recurring financial charges | 66B | €7,721 | €4,447 | -€3,273 | -42.4% |
| Profit (loss) for the period before taxes | 9903 | €48,561 | €66,485 | +€17,924 | +36.9% |
| Income taxes | 67/77 | €10,681 | €14,063 | +€3,382 | +31.7% |
| Profit (loss) for the period | 9904 | €37,880 | €52,422 | +€14,542 | +38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,880 | €52,422 | +€14,542 | +38.4% |
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 15 October 2026 via checked.be.