E.P.A.: what changed
What changed
E.P.A.
NACE 27.120, Manufacture of electrical equipment
filed annual accounts (NBB)
Net result for the year
€454,193
2024 · €160,386+€293,807
Equity
€1.1m
2024 · €655,066+€454,193
Cash
€72,635
2024 · -+€72,635
Balance sheet total
€1.8m
2024 · €1.8m+€35,585
Largest movements
Assets
- Stocks and contracts +€77,248
up €77,248 (+28.7%), from €269,117 to €346,365
of which Contracts in progress: +€58,008
- Receivables within one year -€76,471
down €76,471 (-5.9%), from €1.3m to €1.2m
of which Other amounts receivable: -€76,320
- Cash +€72,635
new in 2025: €72,635
mainly Net result for the year (+€454,193) and Receivables within one year (+€76,471)
- Tangible fixed assets -€45,597
down €45,597 (-23.2%), from €196,764 to €151,166
of which Furniture and vehicles: -€34,804
Equity and liabilities
- Profit (loss) carried forward +€454,193
up €454,193 (+84.7%), from -€536,537 to -€82,344
- Short-term financial debts -€255,899
down €255,899 (-62.2%), from €411,687 to €155,788
- Trade debts -€118,457
down €118,457 (-26.1%), from €454,169 to €335,712
- Debts after one year -€66,687
down €66,687 (-65.7%), from €101,491 to €34,803
- Tax, wage and social debts +€18,706
up €18,706 (+19.1%), from €97,998 to €116,704
of which Taxes: +€21,919
Income statement
- Gross operating margin +€203,299
up €203,299 (+17.8%), from €1.1m to €1.3m
- Other operating charges -€54,889
down €54,889 (-82.1%), from €66,881 to €11,992
- Staff costs -€19,895
down €19,895 (-2.4%), from €835,683 to €815,789
- Financial income +€16,392
up €16,392 (+5,576%), from €294 to €16,686
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€160,386
Gross operating margin
+€203,299
Staff costs
+€19,895
Depreciation
+€8,050
Write-downs
-€8,128
Other operating charges
+€54,889
Other operating items
-€5,564
Financial income
+€16,392
Financial charges
+€12,217
Taxes
-€7,243
Result 2025
€454,193
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€385,428
Investment
+€9,100
Financing
-€321,894
Cash 2024
€0
From operations (derived)
+€385,428
Net result for the year
+€454,193
Depreciation
+€38,786
Stocks and contracts
-€77,248
Receivables within one year
+€76,471
Deferred charges and accrued income
-€10,058
Trade debts
-€118,457
Tax, wage and social debts
+€18,706
Accrued charges and deferred income
+€3,037
Investment (derived)
+€9,100
Investment in fixed assets (net)
+€9,100
Financing
-€321,894
Debts after one year
-€66,687
Current portion of long-term debt
+€692
Short-term financial debts
-€255,899
Cash 2025
€72,635
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,795,448 | €1,831,033 | +€35,585 | +2.0% |
| Fixed assets | 21/28 | €225,761 | €177,875 | -€47,886 | -21.2% |
| Intangible fixed assets | 21 | €1,531 | €910 | -€621 | -40.6% |
| Tangible fixed assets | 22/27 | €196,764 | €151,166 | -€45,597 | -23.2% |
| Plant, machinery and equipment | 23 | €17,641 | €12,118 | -€5,523 | -31.3% |
| Furniture and vehicles | 24 | €81,330 | €46,526 | -€34,804 | -42.8% |
| Other tangible fixed assets | 26 | €97,792 | €92,522 | -€5,270 | -5.4% |
| Financial fixed assets | 28 | €27,466 | €25,799 | -€1,668 | -6.1% |
| Current assets | 29/58 | €1,569,687 | €1,653,158 | +€83,471 | +5.3% |
| Stocks and contracts in progress | 3 | €269,117 | €346,365 | +€77,248 | +28.7% |
| Stocks | 30/36 | €142,000 | €161,240 | +€19,240 | +13.5% |
| Contracts in progress | 37 | €127,117 | €185,125 | +€58,008 | +45.6% |
| Amounts receivable within one year | 40/41 | €1,291,734 | €1,215,264 | -€76,471 | -5.9% |
| Trade receivables | 40 | €848,831 | €848,680 | -€150 | 0.0% |
| Other amounts receivable | 41 | €442,904 | €366,583 | -€76,320 | -17.2% |
| Cash at bank and in hand | 54/58 | - | €72,635 | +€72,635 | |
| Deferred charges and accrued income | 490/1 | €8,836 | €18,894 | +€10,058 | +114% |
| Total equity and liabilities | 10/49 | €1,795,448 | €1,831,033 | +€35,585 | +2.0% |
| Equity | 10/15 | €655,066 | €1,109,259 | +€454,193 | +69.3% |
| Contributions | 10/11 | €1,112,520 | €1,112,520 | = | 0.0% |
| Capital | 10 | €1,112,520 | €1,112,520 | = | 0.0% |
| Issued capital | 100 | €1,112,520 | €1,112,520 | = | 0.0% |
| Reserves | 13 | €79,083 | €79,083 | = | 0.0% |
| Non-distributable reserves | 130/1 | €45,431 | €45,431 | = | 0.0% |
| Legal reserve | 130 | €45,431 | €45,431 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,485 | €20,485 | = | 0.0% |
| Distributable reserves | 133 | €13,167 | €13,167 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€536,537 | -€82,344 | +€454,193 | +84.7% |
| Amounts payable | 17/49 | €1,140,382 | €721,773 | -€418,609 | -36.7% |
| Amounts payable after more than one year | 17 | €101,491 | €34,803 | -€66,687 | -65.7% |
| Financial debts | 170/4 | €101,491 | €34,803 | -€66,687 | -65.7% |
| Amounts payable within one year | 42/48 | €1,029,849 | €674,891 | -€354,958 | -34.5% |
| Current portion of amounts payable after more than one year | 42 | €65,995 | €66,687 | +€692 | +1.0% |
| Financial debts | 43 | €411,687 | €155,788 | -€255,899 | -62.2% |
| Credit institutions | 430/8 | €411,687 | €155,788 | -€255,899 | -62.2% |
| Trade debts | 44 | €454,169 | €335,712 | -€118,457 | -26.1% |
| Suppliers | 440/4 | €454,169 | €335,712 | -€118,457 | -26.1% |
| Taxes, remuneration and social security | 45 | €97,998 | €116,704 | +€18,706 | +19.1% |
| Taxes | 450/3 | €3,583 | €25,502 | +€21,919 | +612% |
| Remuneration and social security | 454/9 | €94,415 | €91,202 | -€3,214 | -3.4% |
| Accrued charges and deferred income | 492/3 | €9,042 | €12,079 | +€3,037 | +33.6% |
| Non-recurring operating income | 76A | €413 | €4,526 | +€4,113 | +995% |
| Remuneration, social security and pensions | 62 | €835,683 | €815,789 | -€19,895 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,836 | €38,786 | -€8,050 | -17.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,128 | +€8,128 | |
| Other operating charges | 640/8 | €66,881 | €11,992 | -€54,889 | -82.1% |
| Non-recurring operating charges | 66A | - | €5,564 | +€5,564 | |
| Gross operating margin | 9900 | €1,145,193 | €1,348,492 | +€203,299 | +17.8% |
| Operating profit (loss) | 9901 | €195,792 | €468,233 | +€272,441 | +139% |
| Financial income | 75/76B | €294 | €16,686 | +€16,392 | +5,576% |
| Recurring financial income | 75 | €294 | €16,686 | +€16,392 | +5,576% |
| Financial charges | 65/66B | €34,592 | €22,375 | -€12,217 | -35.3% |
| Recurring financial charges | 65 | €34,592 | €22,375 | -€12,217 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | €161,494 | €462,544 | +€301,050 | +186% |
| Income taxes | 67/77 | €1,107 | €8,351 | +€7,243 | +654% |
| Profit (loss) for the period | 9904 | €160,386 | €454,193 | +€293,807 | +183% |
| Profit (loss) for the period to be appropriated | 9905 | €160,386 | €454,193 | +€293,807 | +183% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.