E³V: 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.
E³V
Largest movements
- Cash -€13,231
down €13,231 (-29.9%), from €44,304 to €31,073
mainly Tax, wage and social debts (-€7,712) and Other debts (-€5,671)
- Receivables within one year -€3,178
down €3,178 (-13.9%), from €22,901 to €19,723
of which Trade receivables: -€4,392
- Stocks and contracts +€973
up €973 (+6.3%), from €15,333 to €16,306
- Tax, wage and social debts -€7,712
down €7,712 (-66.9%), from €11,535 to €3,823
of which Taxes: -€5,962
- Other debts -€5,671
down €5,671 (-60.4%), from €9,390 to €3,719
- Current portion of long-term debt +€5,219
new in 2025: €5,219
- Short-term financial debts -€5,219
down €5,219 (-100.0%), from €5,219 to €0
- Trade debts -€1,664
down €1,664 (-42.0%), from €3,960 to €2,296
- Gross operating margin -€18,479
down €18,479, from €12,106 to -€6,373
- Financial income +€8,885
up €8,885 (+8173.0%), from €109 to €8,994
- Taxes -€348
down €348 (-100.0%), from €348 to €0
- Depreciation -€301
down €301 (-27.6%), from €1,089 to €788
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.
Cash bridge derived
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 | €85,950 | €70,088 | -€15,862 | -18.5% |
| Fixed assets | 21/28 | €1,303 | €515 | -€788 | -60.5% |
| Tangible fixed assets | 22/27 | €1,303 | €515 | -€788 | -60.5% |
| Plant, machinery and equipment | 23 | €1,303 | €515 | -€788 | -60.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €84,647 | €69,573 | -€15,074 | -17.8% |
| Stocks and contracts in progress | 3 | €15,333 | €16,306 | +€973 | +6.3% |
| Stocks | 30/36 | €15,333 | €16,306 | +€973 | +6.3% |
| Amounts receivable within one year | 40/41 | €22,901 | €19,723 | -€3,178 | -13.9% |
| Trade receivables | 40 | €22,356 | €17,963 | -€4,392 | -19.6% |
| Other amounts receivable | 41 | €545 | €1,760 | +€1,215 | +222.9% |
| Cash at bank and in hand | 54/58 | €44,304 | €31,073 | -€13,231 | -29.9% |
| Deferred charges and accrued income | 490/1 | €2,109 | €2,471 | +€361 | +17.1% |
| Total equity and liabilities | 10/49 | €85,950 | €70,088 | -€15,862 | -18.5% |
| Equity | 10/15 | €28,346 | €27,531 | -€815 | -2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,121 | €18,121 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,545 | €14,545 | = | 0.0% |
| Distributable reserves | 133 | €1,716 | €1,716 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,376 | -€9,190 | -€815 | -9.7% |
| Amounts payable | 17/49 | €57,604 | €42,557 | -€15,047 | -26.1% |
| Amounts payable after more than one year | 17 | €27,500 | €27,500 | = | 0.0% |
| Other amounts payable | 178/9 | €27,500 | €27,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €30,104 | €15,057 | -€15,047 | -50.0% |
| Current portion of amounts payable after more than one year | 42 | - | €5,219 | +€5,219 | |
| Financial debts | 43 | €5,219 | €0 | -€5,219 | -100.0% |
| Other loans | 439 | €5,219 | €0 | -€5,219 | -100.0% |
| Trade debts | 44 | €3,960 | €2,296 | -€1,664 | -42.0% |
| Suppliers | 440/4 | €3,960 | €2,296 | -€1,664 | -42.0% |
| Taxes, remuneration and social security | 45 | €11,535 | €3,823 | -€7,712 | -66.9% |
| Taxes | 450/3 | €9,785 | €3,823 | -€5,962 | -60.9% |
| Remuneration and social security | 454/9 | €1,750 | €0 | -€1,750 | -100.0% |
| Other amounts payable | 47/48 | €9,390 | €3,719 | -€5,671 | -60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,089 | €788 | -€301 | -27.6% |
| Other operating charges | 640/8 | €2,480 | €2,566 | +€86 | +3.5% |
| Non-recurring operating charges | 66A | €8,014 | €0 | -€8,014 | -100.0% |
| Gross operating margin | 9900 | €12,106 | -€6,373 | -€18,479 | |
| Operating profit (loss) | 9901 | €524 | -€9,727 | -€10,250 | |
| Financial income | 75/76B | €109 | €8,994 | +€8,885 | +8173.0% |
| Recurring financial income | 75 | €109 | €8,994 | +€8,885 | +8173.0% |
| Financial charges | 65/66B | €191 | €81 | -€109 | -57.4% |
| Recurring financial charges | 65 | €191 | €81 | -€109 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €441 | -€815 | -€1,256 | |
| Income taxes | 67/77 | €348 | €0 | -€348 | -100.0% |
| Profit (loss) for the period | 9904 | €93 | -€815 | -€908 | |
| Profit (loss) for the period to be appropriated | 9905 | €93 | -€815 | -€908 |
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 12 October 2026 via checked.be.