E.P.M.: 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.M.
Largest movements
- Tangible fixed assets -€3,305
down €3,305 (-1.8%), from €188,616 to €185,311
of which Other tangible fixed assets: -€3,305
- Current portion of long-term debt -€2,812
down €2,812 (-67.7%), from €4,152 to €1,340
- Depreciation -€694
down €694 (-17.3%), from €3,998 to €3,305
- Financial charges -€550
down €550 (-10.1%), from €5,454 to €4,905
- Taxes +€292
new in 2025: €292
- Other operating charges +€199
up €199 (+2.1%), from €9,433 to €9,632
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 | €190,873 | €189,254 | -€1,619 | -0.8% |
| Fixed assets | 21/28 | €188,616 | €185,311 | -€3,305 | -1.8% |
| Tangible fixed assets | 22/27 | €188,616 | €185,311 | -€3,305 | -1.8% |
| Land and buildings | 22 | €168,264 | €168,264 | = | 0.0% |
| Other tangible fixed assets | 26 | €20,352 | €17,047 | -€3,305 | -16.2% |
| Current assets | 29/58 | €2,256 | €3,943 | +€1,686 | +74.7% |
| Cash at bank and in hand | 54/58 | €2,256 | €3,943 | +€1,686 | +74.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €190,873 | €189,254 | -€1,619 | -0.8% |
| Equity | 10/15 | €111,488 | €113,200 | +€1,712 | +1.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €49,514 | €51,227 | +€1,712 | +3.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €43,317 | €45,029 | +€1,712 | +4.0% |
| Amounts payable | 17/49 | €79,385 | €76,054 | -€3,331 | -4.2% |
| Amounts payable after more than one year | 17 | €1,340 | €0 | -€1,340 | -100% |
| Financial debts | 170/4 | €1,340 | €0 | -€1,340 | -100% |
| Amounts payable within one year | 42/48 | €72,230 | €70,740 | -€1,490 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €4,152 | €1,340 | -€2,812 | -67.7% |
| Trade debts | 44 | €5,535 | €6,565 | +€1,030 | +18.6% |
| Suppliers | 440/4 | €5,535 | €6,565 | +€1,030 | +18.6% |
| Taxes, remuneration and social security | 45 | €300 | €592 | +€292 | +97.3% |
| Taxes | 450/3 | €300 | €592 | +€292 | +97.3% |
| Other amounts payable | 47/48 | €62,243 | €62,243 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,815 | €5,314 | -€501 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,998 | €3,305 | -€694 | -17.3% |
| Other operating charges | 640/8 | €9,433 | €9,632 | +€199 | +2.1% |
| Gross operating margin | 9900 | €19,743 | €19,846 | +€103 | +0.5% |
| Operating profit (loss) | 9901 | €6,312 | €6,909 | +€597 | +9.5% |
| Financial charges | 65/66B | €5,454 | €4,905 | -€550 | -10.1% |
| Recurring financial charges | 65 | €5,454 | €4,905 | -€550 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €857 | €2,004 | +€1,147 | +134% |
| Income taxes | 67/77 | - | €292 | +€292 | |
| Profit (loss) for the period | 9904 | €857 | €1,712 | +€855 | +99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €857 | €1,712 | +€855 | +99.7% |
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.