E.I.T.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.I.T.S.
Largest movements
- Receivables within one year +€152,470
up €152,470 (+313%), from €48,742 to €201,212
of which Trade receivables: +€149,570
- Tangible fixed assets -€120,755
down €120,755 (-93.2%), from €129,622 to €8,867
of which Plant, machinery and equipment: -€121,026
- Cash -€31,943
down €31,943 (-28.5%), from €112,001 to €80,058
mainly Receivables within one year (-€152,470) and Advances received (-€85,651)
- Stocks and contracts -€6,138
down €6,138 (-4.5%), from €135,730 to €129,592
- Trade debts +€132,598
up €132,598 (+309%), from €42,961 to €175,559
- Advances received -€85,651
no longer reported in 2025 (was €85,651)
- Debts after one year -€51,016
down €51,016 (-44.1%), from €115,629 to €64,613
- Accrued charges and deferred income -€14,099
no longer reported in 2025 (was €14,099)
- Reserves +€5,952
up €5,952 (+5.8%), from €103,127 to €109,079
of which Distributable reserves: +€5,952
- Depreciation -€33,195
down €33,195 (-86.8%), from €38,241 to €5,046
- Gross operating margin -€28,854
down €28,854 (-59.9%), from €48,198 to €19,344
- Financial charges +€903
up €903 (+19.8%), from €4,565 to €5,468
- Taxes +€817
up €817 (+33.3%), from €2,455 to €3,272
- Financial income -€779
down €779 (-33.6%), from €2,319 to €1,539
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 | €431,595 | €423,095 | -€8,500 | -2.0% |
| Fixed assets | 21/28 | €129,622 | €8,867 | -€120,755 | -93.2% |
| Tangible fixed assets | 22/27 | €129,622 | €8,867 | -€120,755 | -93.2% |
| Plant, machinery and equipment | 23 | €125,956 | €4,931 | -€121,026 | -96.1% |
| Furniture and vehicles | 24 | €3,665 | €3,936 | +€271 | +7.4% |
| Current assets | 29/58 | €301,973 | €414,228 | +€112,255 | +37.2% |
| Stocks and contracts in progress | 3 | €135,730 | €129,592 | -€6,138 | -4.5% |
| Stocks | 30/36 | €135,730 | €129,592 | -€6,138 | -4.5% |
| Amounts receivable within one year | 40/41 | €48,742 | €201,212 | +€152,470 | +313% |
| Trade receivables | 40 | €25,430 | €175,000 | +€149,570 | +588% |
| Other amounts receivable | 41 | €23,311 | €26,212 | +€2,900 | +12.4% |
| Cash at bank and in hand | 54/58 | €112,001 | €80,058 | -€31,943 | -28.5% |
| Deferred charges and accrued income | 490/1 | €5,501 | €3,366 | -€2,135 | -38.8% |
| Total equity and liabilities | 10/49 | €431,595 | €423,095 | -€8,500 | -2.0% |
| Equity | 10/15 | €121,727 | €127,679 | +€5,952 | +4.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,127 | €109,079 | +€5,952 | +5.8% |
| 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 | €101,267 | €107,219 | +€5,952 | +5.9% |
| Amounts payable | 17/49 | €309,868 | €295,416 | -€14,452 | -4.7% |
| Amounts payable after more than one year | 17 | €115,629 | €64,613 | -€51,016 | -44.1% |
| Financial debts | 170/4 | €115,629 | €64,613 | -€51,016 | -44.1% |
| Amounts payable within one year | 42/48 | €180,140 | €230,803 | +€50,664 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €50,425 | €51,016 | +€591 | +1.2% |
| Trade debts | 44 | €42,961 | €175,559 | +€132,598 | +309% |
| Suppliers | 440/4 | €42,961 | €175,559 | +€132,598 | +309% |
| Advances received on contracts in progress | 46 | €85,651 | - | -€85,651 | |
| Taxes, remuneration and social security | 45 | €1,102 | €4,228 | +€3,126 | +284% |
| Taxes | 450/3 | €1,102 | €4,228 | +€3,126 | +284% |
| Accrued charges and deferred income | 492/3 | €14,099 | - | -€14,099 | |
| Non-recurring operating income | 76A | - | €87,219 | +€87,219 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,241 | €5,046 | -€33,195 | -86.8% |
| Other operating charges | 640/8 | €534 | €1,145 | +€611 | +114% |
| Gross operating margin | 9900 | €48,198 | €19,344 | -€28,854 | -59.9% |
| Operating profit (loss) | 9901 | €9,423 | €13,152 | +€3,730 | +39.6% |
| Financial income | 75/76B | €2,319 | €1,539 | -€779 | -33.6% |
| Recurring financial income | 75 | €2,319 | €1,539 | -€779 | -33.6% |
| Financial charges | 65/66B | €4,565 | €5,468 | +€903 | +19.8% |
| Recurring financial charges | 65 | €4,565 | €5,468 | +€903 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | €7,176 | €9,224 | +€2,048 | +28.5% |
| Income taxes | 67/77 | €2,455 | €3,272 | +€817 | +33.3% |
| Profit (loss) for the period | 9904 | €4,721 | €5,952 | +€1,231 | +26.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,721 | €5,952 | +€1,231 | +26.1% |
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 23 October 2026 via checked.be.