E+K: 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+K
Largest movements
- Receivables after one year +€609,840
up €609,840 (+1,519%), from €40,160 to €650,000
- Receivables within one year -€608,515
down €608,515 (-79.9%), from €761,250 to €152,735
of which Other amounts receivable: -€638,915
- Cash -€89,339
down €89,339 (-58.4%), from €153,051 to €63,712
mainly Receivables after one year (-€609,840) and Contributions, distributions and other (-€100,000)
- Reserves -€100,000
down €100,000 (-10.2%), from €984,000 to €884,000
- Financial income -€290,440
down €290,440 (-94.0%), from €308,998 to €18,558
- Taxes -€21,413
down €21,413 (-94.0%), from €22,787 to €1,375
- Gross operating margin +€4,318
up €4,318 (+11.0%), from €39,337 to €43,654
- Staff costs +€2,253
up €2,253 (+4.2%), from €53,546 to €55,799
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 | €2,640,557 | €2,554,836 | -€85,721 | -3.2% |
| Fixed assets | 21/28 | €1,671,098 | €1,671,098 | = | 0.0% |
| Financial fixed assets | 28 | €1,671,098 | €1,671,098 | = | 0.0% |
| Current assets | 29/58 | €969,459 | €883,738 | -€85,721 | -8.8% |
| Amounts receivable after more than one year | 29 | €40,160 | €650,000 | +€609,840 | +1,519% |
| Other amounts receivable | 291 | €40,160 | €650,000 | +€609,840 | +1,519% |
| Amounts receivable within one year | 40/41 | €761,250 | €152,735 | -€608,515 | -79.9% |
| Trade receivables | 40 | €1,210 | €31,609 | +€30,399 | +2,512% |
| Other amounts receivable | 41 | €760,040 | €121,125 | -€638,915 | -84.1% |
| Cash at bank and in hand | 54/58 | €153,051 | €63,712 | -€89,339 | -58.4% |
| Deferred charges and accrued income | 490/1 | €14,998 | €17,292 | +€2,293 | +15.3% |
| Total equity and liabilities | 10/49 | €2,640,557 | €2,554,836 | -€85,721 | -3.2% |
| Equity | 10/15 | €2,593,332 | €2,497,372 | -€95,960 | -3.7% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €984,000 | €884,000 | -€100,000 | -10.2% |
| Distributable reserves | 133 | €984,000 | €884,000 | -€100,000 | -10.2% |
| Profit (loss) carried forward | 14 | €359,332 | €363,372 | +€4,040 | +1.1% |
| Amounts payable | 17/49 | €47,225 | €57,464 | +€10,239 | +21.7% |
| Amounts payable within one year | 42/48 | €45,975 | €56,214 | +€10,239 | +22.3% |
| Trade debts | 44 | €563 | - | -€563 | |
| Suppliers | 440/4 | €563 | - | -€563 | |
| Taxes, remuneration and social security | 45 | €45,412 | €56,214 | +€10,802 | +23.8% |
| Taxes | 450/3 | €37,578 | €49,264 | +€11,686 | +31.1% |
| Remuneration and social security | 454/9 | €7,834 | €6,950 | -€884 | -11.3% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €53,546 | €55,799 | +€2,253 | +4.2% |
| Other operating charges | 640/8 | €1,086 | €998 | -€87 | -8.0% |
| Non-recurring operating charges | 66A | €44,902 | - | -€44,902 | |
| Gross operating margin | 9900 | €39,337 | €43,654 | +€4,318 | +11.0% |
| Operating profit (loss) | 9901 | -€60,196 | -€13,143 | +€47,053 | +78.2% |
| Financial income | 75/76B | €308,998 | €18,558 | -€290,440 | -94.0% |
| Recurring financial income | 75 | €308,998 | €18,558 | -€290,440 | -94.0% |
| Profit (loss) for the period before taxes | 9903 | €248,802 | €5,415 | -€243,387 | -97.8% |
| Income taxes | 67/77 | €22,787 | €1,375 | -€21,413 | -94.0% |
| Profit (loss) for the period | 9904 | €226,015 | €4,040 | -€221,975 | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €226,015 | €4,040 | -€221,975 | -98.2% |
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 19 October 2026 via checked.be.