E-Way Alliance: 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-Way Alliance
Largest movements
- Receivables within one year +€5.2m
up €5.2m (+232%), from €2.2m to €7.5m
of which Trade receivables: +€5.2m
- Trade debts +€5.3m
up €5.3m (+256%), from €2.1m to €7.3m
- Gross operating margin +€176,956
up €176,956 (+121%), from €146,298 to €323,254
- Staff costs +€167,882
up €167,882 (+293%), from €57,274 to €225,156
- Financial charges +€49,112
up €49,112 (+84.6%), from €58,079 to €107,190
- Financial income +€11,330
up €11,330 (+31.1%), from €36,426 to €47,755
- Taxes +€3,242
up €3,242 (+47.7%), from €6,797 to €10,038
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 | €2,303,769 | €7,585,241 | +€5.3m | +229% |
| Fixed assets | 21/28 | €37,455 | €29,855 | -€7,600 | -20.3% |
| Tangible fixed assets | 22/27 | €27,705 | €20,105 | -€7,600 | -27.4% |
| Furniture and vehicles | 24 | €27,705 | €20,105 | -€7,600 | -27.4% |
| Financial fixed assets | 28 | €9,750 | €9,750 | = | 0.0% |
| Current assets | 29/58 | €2,266,314 | €7,555,386 | +€5.3m | +233% |
| Amounts receivable within one year | 40/41 | €2,248,729 | €7,476,924 | +€5.2m | +232% |
| Trade receivables | 40 | €2,235,076 | €7,389,138 | +€5.2m | +231% |
| Other amounts receivable | 41 | €13,653 | €87,786 | +€74,133 | +543% |
| Cash at bank and in hand | 54/58 | €13,151 | €74,097 | +€60,946 | +463% |
| Deferred charges and accrued income | 490/1 | €4,434 | €4,366 | -€69 | -1.5% |
| Total equity and liabilities | 10/49 | €2,303,769 | €7,585,241 | +€5.3m | +229% |
| Equity | 10/15 | €13,785 | €34,490 | +€20,705 | +150% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €11,285 | €31,990 | +€20,705 | +183% |
| Distributable reserves | 133 | €11,285 | €31,990 | +€20,705 | +183% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,289,984 | €7,550,751 | +€5.3m | +230% |
| Amounts payable after more than one year | 17 | €220,741 | €195,458 | -€25,283 | -11.5% |
| Financial debts | 170/4 | €220,741 | €195,458 | -€25,283 | -11.5% |
| Amounts payable within one year | 42/48 | €2,069,244 | €7,355,294 | +€5.3m | +255% |
| Trade debts | 44 | €2,053,737 | €7,320,311 | +€5.3m | +256% |
| Suppliers | 440/4 | €2,053,737 | €7,320,311 | +€5.3m | +256% |
| Taxes, remuneration and social security | 45 | €14,757 | €34,983 | +€20,226 | +137% |
| Taxes | 450/3 | €6,797 | €10,038 | +€3,242 | +47.7% |
| Remuneration and social security | 454/9 | €7,960 | €24,945 | +€16,985 | +213% |
| Other amounts payable | 47/48 | €750 | €0 | -€750 | -100% |
| Remuneration, social security and pensions | 62 | €57,274 | €225,156 | +€167,882 | +293% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,600 | €7,600 | = | 0.0% |
| Other operating charges | 640/8 | €318 | €320 | +€2 | +0.6% |
| Gross operating margin | 9900 | €146,298 | €323,254 | +€176,956 | +121% |
| Operating profit (loss) | 9901 | €81,106 | €90,178 | +€9,073 | +11.2% |
| Financial income | 75/76B | €36,426 | €47,755 | +€11,330 | +31.1% |
| Recurring financial income | 75 | €36,426 | €47,755 | +€11,330 | +31.1% |
| Financial charges | 65/66B | €58,079 | €107,190 | +€49,112 | +84.6% |
| Recurring financial charges | 65 | €58,079 | €107,190 | +€49,112 | +84.6% |
| Profit (loss) for the period before taxes | 9903 | €59,453 | €30,743 | -€28,709 | -48.3% |
| Income taxes | 67/77 | €6,797 | €10,038 | +€3,242 | +47.7% |
| Profit (loss) for the period | 9904 | €52,656 | €20,705 | -€31,951 | -60.7% |
| Profit (loss) for the period to be appropriated | 9905 | €52,656 | €20,705 | -€31,951 | -60.7% |
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 23 October 2026 via checked.be.