E & P: 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 & P
Largest movements
- Cash -€13,068
down €13,068 (-35.1%), from €37,225 to €24,157
mainly Investment in fixed assets (net) (-€15,787) and Net result for the year (-€6,861)
- Receivables within one year +€4,065
up €4,065 (+38.3%), from €10,622 to €14,687
of which Other amounts receivable: +€2,160
- Stocks and contracts +€2,644
up €2,644 (+4.2%), from €62,678 to €65,322
- Deferred charges and accrued income +€2,524
new in 2025: €2,524
- Trade debts +€8,767
up €8,767 (+31.0%), from €28,272 to €37,040
- Reserves -€6,861
down €6,861 (-10.0%), from €68,300 to €61,439
- Debts after one year -€6,550
down €6,550 (-13.0%), from €50,434 to €43,884
of which Financial debts: -€6,059
- Current portion of long-term debt +€2,866
up €2,866 (+22.5%), from €12,725 to €15,591
- Tax, wage and social debts -€2,349
down €2,349 (-93.1%), from €2,523 to €174
- Depreciation +€8,750
up €8,750 (+113%), from €7,737 to €16,487
- Gross operating margin -€6,242
down €6,242 (-30.6%), from €20,410 to €14,167
- Taxes -€2,305
down €2,305 (-91.4%), from €2,523 to €218
- Financial charges +€1,802
up €1,802 (+142%), from €1,271 to €3,073
- Other operating charges -€257
down €257 (-17.0%), from €1,508 to €1,251
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 | €181,262 | €176,728 | -€4,535 | -2.5% |
| Fixed assets | 21/28 | €70,738 | €70,038 | -€701 | -1.0% |
| Tangible fixed assets | 22/27 | €70,688 | €69,988 | -€701 | -1.0% |
| Plant, machinery and equipment | 23 | €1,042 | €915 | -€128 | -12.3% |
| Furniture and vehicles | 24 | €69,646 | €66,970 | -€2,676 | -3.8% |
| Other tangible fixed assets | 26 | - | €2,103 | +€2,103 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €110,524 | €106,690 | -€3,834 | -3.5% |
| Stocks and contracts in progress | 3 | €62,678 | €65,322 | +€2,644 | +4.2% |
| Stocks | 30/36 | €62,678 | €65,322 | +€2,644 | +4.2% |
| Amounts receivable within one year | 40/41 | €10,622 | €14,687 | +€4,065 | +38.3% |
| Trade receivables | 40 | €0 | €1,905 | +€1,905 | |
| Other amounts receivable | 41 | €10,622 | €12,782 | +€2,160 | +20.3% |
| Cash at bank and in hand | 54/58 | €37,225 | €24,157 | -€13,068 | -35.1% |
| Deferred charges and accrued income | 490/1 | - | €2,524 | +€2,524 | |
| Total equity and liabilities | 10/49 | €181,262 | €176,728 | -€4,535 | -2.5% |
| Equity | 10/15 | €86,900 | €80,039 | -€6,861 | -7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €68,300 | €61,439 | -€6,861 | -10.0% |
| Distributable reserves | 133 | €68,300 | €61,439 | -€6,861 | -10.0% |
| Amounts payable | 17/49 | €94,363 | €96,689 | +€2,326 | +2.5% |
| Amounts payable after more than one year | 17 | €50,434 | €43,884 | -€6,550 | -13.0% |
| Financial debts | 170/4 | €49,918 | €43,860 | -€6,059 | -12.1% |
| Other amounts payable | 178/9 | €516 | €24 | -€491 | -95.3% |
| Amounts payable within one year | 42/48 | €43,929 | €52,805 | +€8,876 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €12,725 | €15,591 | +€2,866 | +22.5% |
| Trade debts | 44 | €28,272 | €37,040 | +€8,767 | +31.0% |
| Suppliers | 440/4 | €28,272 | €37,040 | +€8,767 | +31.0% |
| Advances received on contracts in progress | 46 | €409 | €0 | -€409 | -100% |
| Taxes, remuneration and social security | 45 | €2,523 | €174 | -€2,349 | -93.1% |
| Taxes | 450/3 | €2,523 | €174 | -€2,349 | -93.1% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,737 | €16,487 | +€8,750 | +113% |
| Other operating charges | 640/8 | €1,508 | €1,251 | -€257 | -17.0% |
| Gross operating margin | 9900 | €20,410 | €14,167 | -€6,242 | -30.6% |
| Operating profit (loss) | 9901 | €11,165 | -€3,571 | -€14,736 | |
| Financial income | 75/76B | €1 | €1 | +€0 | +78.6% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +78.6% |
| Financial charges | 65/66B | €1,271 | €3,073 | +€1,802 | +142% |
| Recurring financial charges | 65 | €1,271 | €3,073 | +€1,802 | +142% |
| Profit (loss) for the period before taxes | 9903 | €9,895 | -€6,642 | -€16,538 | |
| Income taxes | 67/77 | €2,523 | €218 | -€2,305 | -91.4% |
| Profit (loss) for the period | 9904 | €7,372 | -€6,861 | -€14,233 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,372 | -€6,861 | -€14,233 |
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.