E.I.C.: 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.C.
Largest movements
- Tangible fixed assets -€39,506
down €39,506 (-13.1%), from €301,830 to €262,324
- Receivables after one year -€27,130
down €27,130 (-14.4%), from €189,000 to €161,870
- Cash +€5,313
up €5,313 (+371%), from €1,432 to €6,745
mainly Depreciation (+€39,506) and Receivables after one year (+€27,130)
- Profit (loss) carried forward -€33,323
down €33,323 (-7.4%), from -€448,916 to -€482,239
- Tax, wage and social debts -€14,680
down €14,680 (-75.7%), from €19,395 to €4,714
of which Remuneration and social security: -€10,647
- Trade debts -€7,616
down €7,616 (-25.0%), from €30,418 to €22,801
- Current portion of long-term debt -€7,457
down €7,457 (-19.7%), from €37,881 to €30,423
- Staff costs -€56,437
down €56,437 (-86.7%), from €65,081 to €8,643
- Gross operating margin -€37,363
down €37,363 (-42.7%), from €87,454 to €50,091
- Other operating charges -€3,127
down €3,127 (-13.9%), from €22,416 to €19,289
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 | €492,262 | €430,939 | -€61,323 | -12.5% |
| Fixed assets | 21/28 | €301,830 | €262,324 | -€39,506 | -13.1% |
| Tangible fixed assets | 22/27 | €301,830 | €262,324 | -€39,506 | -13.1% |
| Land and buildings | 22 | €301,830 | €262,324 | -€39,506 | -13.1% |
| Current assets | 29/58 | €190,432 | €168,615 | -€21,817 | -11.5% |
| Amounts receivable after more than one year | 29 | €189,000 | €161,870 | -€27,130 | -14.4% |
| Other amounts receivable | 291 | €189,000 | €161,870 | -€27,130 | -14.4% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,432 | €6,745 | +€5,313 | +371% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €492,262 | €430,939 | -€61,323 | -12.5% |
| Equity | 10/15 | €68,875 | €35,552 | -€33,323 | -48.4% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Revaluation surpluses | 12 | €310,855 | €310,855 | = | 0.0% |
| Reserves | 13 | €31,936 | €31,936 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,223 | €3,223 | = | 0.0% |
| Legal reserve | 130 | €3,223 | €3,223 | = | 0.0% |
| Distributable reserves | 133 | €28,713 | €28,713 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€448,916 | -€482,239 | -€33,323 | -7.4% |
| Amounts payable | 17/49 | €423,387 | €395,387 | -€28,000 | -6.6% |
| Amounts payable after more than one year | 17 | €334,910 | €336,780 | +€1,870 | +0.6% |
| Financial debts | 170/4 | €298,910 | €281,975 | -€16,935 | -5.7% |
| Other amounts payable | 178/9 | €36,000 | €54,805 | +€18,805 | +52.2% |
| Amounts payable within one year | 42/48 | €88,477 | €58,607 | -€29,870 | -33.8% |
| Current portion of amounts payable after more than one year | 42 | €37,881 | €30,423 | -€7,457 | -19.7% |
| Trade debts | 44 | €30,418 | €22,801 | -€7,616 | -25.0% |
| Suppliers | 440/4 | €30,418 | €22,801 | -€7,616 | -25.0% |
| Taxes, remuneration and social security | 45 | €19,395 | €4,714 | -€14,680 | -75.7% |
| Taxes | 450/3 | €8,747 | €4,714 | -€4,033 | -46.1% |
| Remuneration and social security | 454/9 | €10,647 | €0 | -€10,647 | -100% |
| Other amounts payable | 47/48 | €784 | €668 | -€116 | -14.8% |
| Remuneration, social security and pensions | 62 | €65,081 | €8,643 | -€56,437 | -86.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,506 | €39,506 | +€0 | 0.0% |
| Other operating charges | 640/8 | €22,416 | €19,289 | -€3,127 | -13.9% |
| Gross operating margin | 9900 | €87,454 | €50,091 | -€37,363 | -42.7% |
| Operating profit (loss) | 9901 | -€39,549 | -€17,348 | +€22,201 | +56.1% |
| Financial income | 75/76B | - | €145 | +€145 | |
| Recurring financial income | 75 | - | €145 | +€145 | |
| Financial charges | 65/66B | €16,062 | €16,120 | +€58 | +0.4% |
| Recurring financial charges | 65 | €16,062 | €16,120 | +€58 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€55,611 | -€33,323 | +€22,289 | +40.1% |
| Profit (loss) for the period | 9904 | -€55,611 | -€33,323 | +€22,289 | +40.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,611 | -€33,323 | +€22,289 | +40.1% |
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 13 October 2026 via checked.be.