E-Vape: 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-Vape
Largest movements
- Stocks and contracts +€24,228
up €24,228 (+32.3%), from €74,958 to €99,186
- Receivables within one year +€10,866
up €10,866 (+14,488%), from €75 to €10,941
of which Other amounts receivable: +€10,363
- Current investments +€8,000
up €8,000 (+22.9%), from €35,000 to €43,000
- Tangible fixed assets +€5,674
up €5,674 (+23.7%), from €23,966 to €29,640
of which Plant, machinery and equipment: +€6,594
- Financial fixed assets +€4,740
new in 2025: €4,740
- Trade debts +€49,179
up €49,179 (+309%), from €15,913 to €65,092
- Other debts +€28,180
up €28,180 (+1,171%), from €2,407 to €30,587
- Accrued charges and deferred income -€10,215
no longer reported in 2025 (was €10,215)
- Profit (loss) carried forward -€5,765
new in 2025: -€5,765
- Debts after one year -€2,268
down €2,268 (-15.2%), from €14,888 to €12,620
- Gross operating margin -€68,469
down €68,469 (-42.5%), from €161,025 to €92,556
- Taxes -€14,626
down €14,626 (-82.9%), from €17,633 to €3,007
- Staff costs +€10,039
up €10,039 (+13.3%), from €75,710 to €85,749
- Financial income +€2,826
new in 2025: €2,826
of which Non-recurring financial income: +€2,413
- Other operating charges +€1,780
up €1,780 (+533%), from €334 to €2,114
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 | €159,269 | €216,732 | +€57,463 | +36.1% |
| Fixed assets | 21/28 | €23,966 | €34,380 | +€10,414 | +43.5% |
| Tangible fixed assets | 22/27 | €23,966 | €29,640 | +€5,674 | +23.7% |
| Plant, machinery and equipment | 23 | €5,754 | €12,348 | +€6,594 | +115% |
| Furniture and vehicles | 24 | €15,229 | €14,509 | -€720 | -4.7% |
| Other tangible fixed assets | 26 | €2,983 | €2,783 | -€200 | -6.7% |
| Financial fixed assets | 28 | - | €4,740 | +€4,740 | |
| Current assets | 29/58 | €135,303 | €182,352 | +€47,049 | +34.8% |
| Stocks and contracts in progress | 3 | €74,958 | €99,186 | +€24,228 | +32.3% |
| Stocks | 30/36 | €74,958 | €99,186 | +€24,228 | +32.3% |
| Amounts receivable within one year | 40/41 | €75 | €10,941 | +€10,866 | +14,488% |
| Trade receivables | 40 | €75 | €578 | +€503 | +671% |
| Other amounts receivable | 41 | - | €10,363 | +€10,363 | |
| Current investments | 50/53 | €35,000 | €43,000 | +€8,000 | +22.9% |
| Cash at bank and in hand | 54/58 | €24,185 | €25,602 | +€1,417 | +5.9% |
| Deferred charges and accrued income | 490/1 | €1,085 | €3,623 | +€2,538 | +234% |
| Total equity and liabilities | 10/49 | €159,269 | €216,732 | +€57,463 | +36.1% |
| Equity | 10/15 | €81,152 | €75,387 | -€5,765 | -7.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €78,652 | €78,652 | = | 0.0% |
| Distributable reserves | 133 | €78,652 | €78,652 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,765 | -€5,765 | |
| Amounts payable | 17/49 | €78,117 | €141,345 | +€63,228 | +80.9% |
| Amounts payable after more than one year | 17 | €14,888 | €12,620 | -€2,268 | -15.2% |
| Financial debts | 170/4 | €14,888 | €12,620 | -€2,268 | -15.2% |
| Amounts payable within one year | 42/48 | €53,014 | €128,725 | +€75,711 | +143% |
| Current portion of amounts payable after more than one year | 42 | €18,214 | €18,668 | +€454 | +2.5% |
| Trade debts | 44 | €15,913 | €65,092 | +€49,179 | +309% |
| Suppliers | 440/4 | €15,913 | €65,092 | +€49,179 | +309% |
| Taxes, remuneration and social security | 45 | €16,480 | €14,378 | -€2,102 | -12.8% |
| Taxes | 450/3 | €8,134 | €4,228 | -€3,906 | -48.0% |
| Remuneration and social security | 454/9 | €8,346 | €10,150 | +€1,804 | +21.6% |
| Other amounts payable | 47/48 | €2,407 | €30,587 | +€28,180 | +1,171% |
| Accrued charges and deferred income | 492/3 | €10,215 | - | -€10,215 | |
| Remuneration, social security and pensions | 62 | €75,710 | €85,749 | +€10,039 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,514 | €6,878 | -€1,636 | -19.2% |
| Other operating charges | 640/8 | €334 | €2,114 | +€1,780 | +533% |
| Non-recurring operating charges | 66A | €208 | - | -€208 | |
| Gross operating margin | 9900 | €161,025 | €92,556 | -€68,469 | -42.5% |
| Operating profit (loss) | 9901 | €76,259 | -€2,185 | -€78,444 | |
| Financial income | 75/76B | - | €2,826 | +€2,826 | |
| Recurring financial income | 75 | - | €413 | +€413 | |
| Non-recurring financial income | 76B | - | €2,413 | +€2,413 | |
| Financial charges | 65/66B | €2,857 | €3,399 | +€542 | +19.0% |
| Recurring financial charges | 65 | €2,857 | €3,399 | +€542 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €73,402 | -€2,758 | -€76,160 | |
| Income taxes | 67/77 | €17,633 | €3,007 | -€14,626 | -82.9% |
| Profit (loss) for the period | 9904 | €55,769 | -€5,765 | -€61,534 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,769 | -€5,765 | -€61,534 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.