EAGLE-HOIST: 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.
EAGLE-HOIST
Largest movements
- Receivables within one year -€122,992
down €122,992 (-64.4%), from €190,896 to €67,904
of which Trade receivables: -€128,532
- Cash -€87,690
down €87,690 (-52.4%), from €167,334 to €79,643
mainly Trade debts (-€282,011) and Debts after one year (-€12,234)
- Stocks and contracts -€18,375
down €18,375 (-11.8%), from €155,081 to €136,705
- Trade debts -€282,011
down €282,011 (-87.4%), from €322,586 to €40,576
- Reserves +€58,891
up €58,891 (+45.9%), from €128,337 to €187,228
of which Distributable reserves: +€58,891
- Debts after one year -€12,234
down €12,234 (-57.1%), from €21,416 to €9,182
- Tax, wage and social debts +€6,397
up €6,397 (+19.3%), from €33,083 to €39,480
- Gross operating margin +€27,913
up €27,913 (+40.2%), from €69,401 to €97,314
- Financial charges -€13,208
down €13,208 (-60.9%), from €21,700 to €8,492
- Taxes +€8,206
up €8,206 (+52.5%), from €15,637 to €23,843
- Financial income -€2,552
down €2,552 (-30.0%), from €8,506 to €5,954
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 | €525,973 | €295,109 | -€230,864 | -43.9% |
| Fixed assets | 21/28 | €11,252 | €8,910 | -€2,342 | -20.8% |
| Tangible fixed assets | 22/27 | €11,252 | €8,910 | -€2,342 | -20.8% |
| Plant, machinery and equipment | 23 | €10,905 | €8,311 | -€2,593 | -23.8% |
| Furniture and vehicles | 24 | €347 | €598 | +€251 | +72.3% |
| Current assets | 29/58 | €514,721 | €286,199 | -€228,522 | -44.4% |
| Stocks and contracts in progress | 3 | €155,081 | €136,705 | -€18,375 | -11.8% |
| Stocks | 30/36 | €155,081 | €136,705 | -€18,375 | -11.8% |
| Amounts receivable within one year | 40/41 | €190,896 | €67,904 | -€122,992 | -64.4% |
| Trade receivables | 40 | €165,288 | €36,756 | -€128,532 | -77.8% |
| Other amounts receivable | 41 | €25,608 | €31,148 | +€5,540 | +21.6% |
| Cash at bank and in hand | 54/58 | €167,334 | €79,643 | -€87,690 | -52.4% |
| Deferred charges and accrued income | 490/1 | €1,411 | €1,946 | +€535 | +37.9% |
| Total equity and liabilities | 10/49 | €525,973 | €295,109 | -€230,864 | -43.9% |
| Equity | 10/15 | €134,537 | €193,428 | +€58,891 | +43.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €128,337 | €187,228 | +€58,891 | +45.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €126,477 | €185,368 | +€58,891 | +46.6% |
| Amounts payable | 17/49 | €391,436 | €101,681 | -€289,755 | -74.0% |
| Amounts payable after more than one year | 17 | €21,416 | €9,182 | -€12,234 | -57.1% |
| Financial debts | 170/4 | €21,416 | €9,182 | -€12,234 | -57.1% |
| Amounts payable within one year | 42/48 | €370,020 | €92,498 | -€277,522 | -75.0% |
| Current portion of amounts payable after more than one year | 42 | €14,351 | €12,234 | -€2,117 | -14.8% |
| Trade debts | 44 | €322,586 | €40,576 | -€282,011 | -87.4% |
| Suppliers | 440/4 | €322,586 | €40,576 | -€282,011 | -87.4% |
| Taxes, remuneration and social security | 45 | €33,083 | €39,480 | +€6,397 | +19.3% |
| Taxes | 450/3 | €33,083 | €39,480 | +€6,397 | +19.3% |
| Other amounts payable | 47/48 | - | €209 | +€209 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,230 | €2,747 | +€516 | +23.1% |
| Other operating charges | 640/8 | €446 | €783 | +€337 | +75.4% |
| Non-recurring operating charges | 66A | - | €8,512 | +€8,512 | |
| Gross operating margin | 9900 | €69,401 | €97,314 | +€27,913 | +40.2% |
| Operating profit (loss) | 9901 | €66,725 | €85,272 | +€18,548 | +27.8% |
| Financial income | 75/76B | €8,506 | €5,954 | -€2,552 | -30.0% |
| Recurring financial income | 75 | €8,506 | €5,954 | -€2,552 | -30.0% |
| Financial charges | 65/66B | €21,700 | €8,492 | -€13,208 | -60.9% |
| Recurring financial charges | 65 | €21,700 | €8,492 | -€13,208 | -60.9% |
| Profit (loss) for the period before taxes | 9903 | €53,531 | €82,734 | +€29,204 | +54.6% |
| Income taxes | 67/77 | €15,637 | €23,843 | +€8,206 | +52.5% |
| Profit (loss) for the period | 9904 | €37,894 | €58,891 | +€20,998 | +55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,894 | €58,891 | +€20,998 | +55.4% |
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.