e-Strategies: what changed
e-Strategies
Largest movements
- Cash +€53,471
up €53,471 (+111%), from €48,319 to €101,790
mainly Net result for the year (+€73,347) and Tax, wage and social debts (+€16,886)
- Current investments +€40,053
up €40,053 (+9.1%), from €440,932 to €480,985
- Tangible fixed assets -€11,131
down €11,131 (-33.5%), from €33,202 to €22,071
of which Furniture and vehicles: -€7,741
- Receivables within one year -€10,104
down €10,104 (-37.5%), from €26,940 to €16,836
of which Other amounts receivable: -€6,160
- Reserves +€73,000
up €73,000 (+15.6%), from €466,644 to €539,644
- Tax, wage and social debts +€16,886
up €16,886 (+157%), from €10,754 to €27,640
- Other debts -€13,160
down €13,160 (-53.2%), from €24,739 to €11,579
- Financial income +€36,385
up €36,385 (+612%), from €5,945 to €42,330
of which Financial income: +€40,047
- Gross operating margin +€26,553
up €26,553 (+54.5%), from €48,759 to €75,312
- Taxes +€18,451
up €18,451 (+175%), from €10,541 to €28,992
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €549,484 | €621,771 | +€72,287 | +13.2% |
| Fixed assets | 21/28 | €33,227 | €22,096 | -€11,131 | -33.5% |
| Tangible fixed assets | 22/27 | €33,202 | €22,071 | -€11,131 | -33.5% |
| Land and buildings | 22 | €4,471 | €4,212 | -€259 | -5.8% |
| Plant, machinery and equipment | 23 | €10,885 | €7,754 | -€3,131 | -28.8% |
| Furniture and vehicles | 24 | €17,846 | €10,105 | -€7,741 | -43.4% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €516,257 | €599,675 | +€83,418 | +16.2% |
| Amounts receivable within one year | 40/41 | €26,940 | €16,836 | -€10,104 | -37.5% |
| Trade receivables | 40 | €20,571 | €16,627 | -€3,944 | -19.2% |
| Other amounts receivable | 41 | €6,369 | €209 | -€6,160 | -96.7% |
| Current investments | 50/53 | €440,932 | €480,985 | +€40,053 | +9.1% |
| Cash at bank and in hand | 54/58 | €48,319 | €101,790 | +€53,471 | +111% |
| Deferred charges and accrued income | 490/1 | €66 | €64 | -€2 | -3.0% |
| Total equity and liabilities | 10/49 | €549,484 | €621,771 | +€72,287 | +13.2% |
| Equity | 10/15 | €513,091 | €582,473 | +€69,382 | +13.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €466,644 | €539,644 | +€73,000 | +15.6% |
| Distributable reserves | 133 | €466,644 | €539,644 | +€73,000 | +15.6% |
| Profit (loss) carried forward | 14 | €27,847 | €24,229 | -€3,618 | -13.0% |
| Amounts payable | 17/49 | €36,393 | €39,298 | +€2,905 | +8.0% |
| Amounts payable within one year | 42/48 | €36,393 | €39,298 | +€2,905 | +8.0% |
| Trade debts | 44 | €900 | €79 | -€821 | -91.2% |
| Suppliers | 440/4 | €900 | €79 | -€821 | -91.2% |
| Taxes, remuneration and social security | 45 | €10,754 | €27,640 | +€16,886 | +157% |
| Taxes | 450/3 | €10,754 | €27,640 | +€16,886 | +157% |
| Other amounts payable | 47/48 | €24,739 | €11,579 | -€13,160 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,478 | €14,468 | -€10 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €365 | - | -€365 | |
| Other operating charges | 640/8 | €511 | €543 | +€32 | +6.3% |
| Gross operating margin | 9900 | €48,759 | €75,312 | +€26,553 | +54.5% |
| Operating profit (loss) | 9901 | €33,405 | €60,301 | +€26,896 | +80.5% |
| Financial income | 75/76B | €5,945 | €42,330 | +€36,385 | +612% |
| Recurring financial income | 75 | €2,283 | €42,330 | +€40,047 | +1,754% |
| Non-recurring financial income | 76B | €3,662 | - | -€3,662 | |
| Financial charges | 65/66B | €939 | €292 | -€647 | -68.9% |
| Recurring financial charges | 65 | €939 | €292 | -€647 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | €38,411 | €102,339 | +€63,928 | +166% |
| Income taxes | 67/77 | €10,541 | €28,992 | +€18,451 | +175% |
| Profit (loss) for the period | 9904 | €27,870 | €73,347 | +€45,477 | +163% |
| Profit (loss) for the period to be appropriated | 9905 | €27,870 | €73,347 | +€45,477 | +163% |
Next steps
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 5 November 2026 via checked.be.